Category: Business

Execution of Sugar Master Plan could fetch Nigeria over $700million yearly – Dangote

Chairman of Dangote Sugar Refinery Plc, Aliko Dangote has said that the National Sugar Master Plan (NSMP) when executed as designed could fetch the nation foreign exchange in excess of $700million yearly from the Backward Integration component of the plan. Dangote made this disclosure recently while receiving in his office some businessmen who were on…

ASCSN Transaction: Unity Bank Acted With Authority of Customer

Unity Bank Plc has denied claims by the Association of Senior Civil Servants of Nigeria (ASCSN) in Ogun State that its funds domiciled in the bank were mismanaged. The bank made this clarification in a statement released on Tuesday, stating that it has conducted an investigation into the transactions, which completely absolved it of any…

Sekibo Urges Govt., Stakeholders to Prioritise SMEs, Youth Entrepreneurship

Bridging the gap to attain sustainable solutions to economic recovery will be the most impactful route to drive lasting and meaningful growth; for this to be achieved, creation of opportunities, conscious inclusion of Small and Medium Enterprises and youth entrepreneurship are crucial. MD/CEO of Heritage Bank Plc, Ifie Sekibo gave this submission on the sidelines…

Red Star Appoints New Directors, Declares Turnover and Dividend

One of the leading logistics companies in Nigeria, Red Star Express Plc, has appointed its new directors and introduced them to stakeholders – Mr Peter Surulere Aletor and Chukwuemeka Emmanuel Ndu, both of who hold the title of the Non-Executive Director. The company stated that the duo was appointed after a rigorous exercise of electing…

Commitment to Customer Service Translates to Financial Gains – UBA GMD

The Group Managing Director/Chief Executive Officer, United Bank for Africa (UBA) Plc, Kennedy Uzoka, has said that the bank recorded significant improvement in its operational and financial performance as a result of its unending commitment towards delivering products and services aimed at meeting customers’ demands. Uzoka said this during the Investors/Analysts Conference Call at the…

UBA’s half-year Profit Grows By 33% to N76.2 Billion, Declares 20k Interim Dividend

Africa’s leading financial institution, the United Bank for Africa (UBA) Plc has announced its audited half year financial results for the half year ended June 30, 2021, showing impressive growth across all major income lines and performance indicators. The pan African financial institution delivered a 33.4 per cent appreciation in its profit before tax which…

2021 Audited Half Year Results: Guaranty Trust Bank Plc Reports PBT of N93.1bn

Guaranty Trust Bank Plc (“GTBank” or “the Group”), now Guaranty Trust Holding Company Plc, has released its audited financial results for the period ended June 30, 2021, to the Nigerian and London Stock Exchanges. A review of the results shows a decent performance across key financial metrics against the challenging business environment. This performance reaffirms…

Stanbic IBTC Rewards Customers for Saving

As part of its commitment to promoting a savings lifestyle, Nigeria’s leading end-to-end financial services provider, Stanbic IBTC Bank PLC, a subsidiary of Stanbic IBTC Holdings PLC, has launched a savings campaign. This campaign is to reward its customers for opening and depositing funds in their accounts. The savings campaign seeks to encourage customers to…

VFD Group Plc. Welcomes New Directors to Its Board

The Board and Management of VFD Group Plc, a leading proprietary investment company, has announced the appointment of four new directors bringing the number of directors to 15. The new appointees are, Folajimi Adeleye, Executive Director, Finance; John Okonkwo, Executive Director, and Chief Operating Officer; Kelvin Orogun and Femi Akinware, both Non-Executive Directors. Speaking on…

Stanbic IBTC: Softer Inflows of New Work Prompt Moderation In Private Sector Activity Growth

Business conditions in Nigeria’s private sector improved modestly midway through the third quarter, but the rate of growth slowed to a six-month low. Softer upticks in output, new orders and employment contrasted with quicker expansions in held inventories as firms seek to take advantage of faster lead times, and protect against any future supply shocks.…