United Bank for Africa Plc, announced its Audited 2016 Half Year Financial Results for the period ended 30 June 2016 showing the bank recorded gross earnings of N166 billion, net operating income of N109 billion and profit before tax of N40 billion. The bank also recorded a significant growth in total assets, rising 20% to…
The internet has revolutionized the way people shop around the world and online shopping is now a huge movement. Nigeria is not lagging behind in the trend either, as people in the country – visitors and locals- tend to prefer online shopping over conventional shopping these days. Of course, there are many reasons for Nigerians…
On Tuesday, the Central Bank of Nigeria, CBN, suspended nine banks in Nigeria from trading in the foreign exchange market. But the ban placed on one of the affected banks, the United Bank for Africa, UBA Plc, has now been lifted. UBA disclosed in an email on Wednesday night that it has now be readmitted…
Budding entrepreneurs who attended the first edition of the Nigerian Small Business Summit on the 24th August at the Landmark event centre were warned to stay away from bank loans at the start of their businesses. Kushal Dutta, Managing Director of Africa’s number one hotel booking portal Jumia Travel Nigeria, gave the warning during a…
Customers of Diamond Bank Plc have been reassured of enhanced quality service delivery and commitment to meet banking obligations despite the announcement by the CBN that nine commercial banks (inclusive of Diamond Bank) have been barred from foreign exchange transactions for alleged infringement on the Treasury Single Account (TSA) directive last year. The Bank stated…
Shoppers and store owners in Lagos are in for exciting news as T-Mart Wholesale Store, a renowned membership-based wholesale shopping mall opened in Lekki area of Lagos on Saturday, August 20, 2016. This is the first of its kind in Lagos, and will be followed by many more outlets across the major urban Cities in…
Guaranty Trust Bank plc has released its audited financial results for the half year ended June 30, 2016 to the Nigerian and London Stock Exchanges. A review of the half year performance shows that the Bank recorded positive growth across all key financial metrics, a testament to the cutting edge strategy of the Bank. Gross…
AG Leventis (Nigeria) Plc is to inject fresh funds into its operations as part of its revival strategies. The Executive Vice Chairman of AG Leventis, Michail Economakis stated this recently, while speaking at the ‘Facts behind the figures’ presentation ceremony at the Nigerian Stock Exchange, NSE. According to him, with the funds, the company would…
There seems to be crisis rocking one of the top public relations firms in Nigeria, The Quadrant Company, also known as TQC. Over the weekend, the company, tucked inside GRA Ikeja, Lagos, reportedly laid off some of its employees. This, reports said, has caused uncertainty among other members of staff of TQC, which manages accounts…
As part of efforts to remain at the forefront of delivering on the Central Bank of Nigeria’s financial inclusion mandate, Heritage Bank took the opportunity during this holiday break to implement one of its Financial Literacy initiatives by conducting a workshop for children. The Financial Literacy Holiday Workshop, titled, “Edutainment Resource for Children and Young…