United Bank for Africa Plc posted a profit after tax of N81.63bn for the nine months ended September 30, 2019. This, the bank said, showed a 32 per cent increase over N61.69bn reported in nine months of 2018. It disclosed this in its unaudited results filed with the Nigerian Stock Exchange on Monday. The bank’s […]

Savannah Petroleum Plc, a British independent oil and gas company focused around activities in Niger and Nigeria, has announced the signature of a $74m unsecured loan facility. The company said in a notice made available to the London Stock Exchange that the fixed interest premium of seven per cent payable on the principal amount (and […]

The International Monetary Fund has said Nigeria needs to reduce fuel subsidy at a time when oil prices are low in order to bring about more productive government spending. The IMF, in its new Regional Economic Outlook for sub-Saharan Africa, said growth in the region was projected to remain at 3.2 per cent in 2019 […]

FBN Holdings Plc said it recorded N439.9bn gross earnings, flat year-on-year, from January to September 2019 from N441.5bn in the corresponding period of 2018. In a statement on its unaudited results for the nine months ended 30 September 2019, it said its net-interest income was N211.4bn in the period under review, down 4.6 per cent […]

The Nigeria Deposit Insurance Corporation has remitted over N212.7bn into the Consolidated Revenue Fund since its inception about 30 years ago, in conformity with the Fiscal Responsibility Act. Minister of Finance, Budget and National planning, Zainab Ahmed, disclosed this on Monday at an event to mark the 30th anniversary of the agency. The theme of […]

The Securities and Exchange Commission has revealed plans to introduce regulations on the use of crowdfunding by small businesses to raise capital. The acting Director-General, SEC, Ms. Mary Uduk, while speaking during an interview with journalists on the sidelines of the ongoing annual meetings of the World Bank and International Monetary Fund in Washington DC, […]

The value of investment by institutional investors in the nation’s capital market has dropped by N203.67bn in one year. According to the foreign portfolio investment report published by the Nigerian Stock Exchange on Monday, the value of institutional investment from January to September stood at N373.10bn, compared to the N576.77bn recorded in the same period […]

The Nigerian Stock Exchange has listed Union Bank of Nigeria Plc’s N30bn10-Year bond. The NSE said in a notice that the N30bn bond was listed at 16.20 per cent interest rate under the bank’s N100bn debt issuance programme. Describing the bond as subordinated unsecured fixed rate series 3 bonds, the NSE notified dealing members of […]