34 per cent of commercial loans held by public sector Deposit money banks (DMBs) accessed an accumulated value of N4.4 trillion from the Central Bank of Nigeria (CBN) through its overnight lending window from June to August, data sourced from the regulator suggested. Banks regularly access the CBN’s Standard Lending Facility (SLF) to borrow funds, […]
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Amid harsh operating environment, Fidelity Bank Plc has posted Profit Before Tax (PBT) of N25.1 billion for its half-year (H1) 2022 operations, against N20.6 billion achieved in the corresponding period in 2021. Specifically, an analysis of the bank’s half year performance showed that PBT rose by 21.6 per cent, from N20.6 billion to N25.1 billion, […]
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A man exchanges Nigeria’s currency Naira for US dollars in Lagos, Nigeria. (Photo by Pius Utomi Ekpei / AFP) Analyst predicts gloomy outlook as uptick in fixed market persists Despite improved earnings and dividend announcements from listed companies, uncertainty in the global economy, coupled with prevailing macroeconomic challenges in the country, especially insecurity and low […]
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Vice-President, Yemi Osinbajo, on Tuesday, at the Presidential Villa, Abuja, received the All Progressives Congress (APC) governors. His spokesman, Laolu Akande, in a statement on Tuesday, said the governors were on a felicitation visit to the vice-president as he recovered from the leg surgery done in July. The vice president expressed his appreciation to the […]
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As the 2023 election campaigns commence next month, stakeholders in the nation’s capital market have stressed the need for politicians to adopt issues-based and violence-free campaigns to enhance market stability and attract more inflow of capital into the equities market. The experts who believed that only peaceful polls could restore confidence in the market, sustain […]
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In line with its commitment to offer amazing value to Nigerian mobile telephone customers, a Nigerian leading telecom service provider and youth-friendly brand, 9mobile, has announced the launch of 9Konfam, a tariff plan that rewards customers with generous airtime and data benefits upon SIM activation, and on every recharge. According to the telco, 9Konfam empowers […]
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Nestle Plc The Nigerian Exchange Limited (NGX) sustained a rising profile yesterday, as gains in the shares of many highly capitalised, especially Airtel Africa and Nestle lifted market capitalisation by N532 billion. Specifically, at the close of transactions yesterday, the All Share Index (ASI) rose by 986.63 points, representing a growth of 2.03 per cent […]
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Defies interest rate hike, rattles analysts Surges to 19.6 per cent, highest since 2005 ‘Figures reflection of more scary future’ Okon: Civil servants most hit, purchasing power very weak Suspend telecoms, beverage tax, says Uwaleke ‘Reign in N19.7 trillion Ways & Means loan to FG’ Galloping inflation recipe for recession, higher unemployment, economists insist Nigeria’s […]
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Says energy crisis, forex scarcity, falling currency, others bleeding economy Urges FG to resolve challenges with holistic approach The Nigeria Employers’ Consultative Association, NECA, Sunday in Lagos, raised the alarm that the nation’s economy is on the brink of collapse, warning that spiralling inflation, rising energy cost (scarcity of FOREX, the dwindling value of the […]
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Group Managing Director of Access Bank Plc., Mr Roosevelt Ogbonna, has enjoined corporate entities to embrace technology, to stay afloat in the increasingly competitive market place. While delivering a keynote address at the unveiling of an app, known as “Cydene Express’’ in Lagos on Wednesday, he said that corporate entities failing to keep pace with […]
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