United Bank for Africa  has said it recorded N201bn profit before tax in its 2022 financial period. The bank disclosed this in a statement on its audited financial results for the full year ended December 31, 2022, titled, ‘Full year 2022: UBA delivers strong results as profit hits N201bn’. It stated that, “Despite the highly challenging global economic and business ...

Nigeria’s total public debt stock stood at N46.25 trillion (about $103.11 billion) as at December 2022. The Debt Management Office (DMO) made this known in its fourth quarter 2022 Report. The debt stock is the total portfolio by the Federal Government, 36 state governments, and the Federal Capital Territory (FCT). The DMO report came on a day the Federal Government ...

Zenith Bank Plc grew its gross earnings by 24 per cent from N765.6n as of the end of 2021 financial period to N945.5bn in the corresponding period of 2022. The bank disclosed this in a statement on Tuesday on its audited results for the year ending December 31, 2022, titled ‘Zenith Bank grows gross earnings by 24 per cent to ...

The Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) have suspended their planned strike earlier slated for Wednesday over the unavailability of naira notes. The two Labour unions said they would monitor the availability of cash in commercial banks for two weeks before deciding on the next line of action. Presidents of NLC, Joe Ajaero and TUC, Festus ...

First Citizens will acquire much of Silicon Valley Bank, the tech-focused financial institution that collapsed this month, setting off a chain reaction that caused a second bank to fail and tested faith in the global banking sector. The Federal Deposit Insurance Corp. and other regulators had already taken extraordinary steps to head off a wider banking crisis by guaranteeing that ...

Stanbic IBTC Bank has empowered export business owners with the knowledge and resources needed to succeed in the export trade sector through its recently hosted Trade Export Webinar. During the webinar themed, “Getting Your Business Export Ready,” attendees gained valuable insights on successfully navigating the complexities of exporting goods and services in the export trade sector. Read also: Samsung, Rifugio ...

Group Managing Director/Chief Executive Officer (GMD/CEO) of Zenith Bank Plc, Ebenezer Onyeagwu, was at the weekend, conferred with a Doctorate Degree in Business Administration by the University of Nigeria, Nsukka (UNN). The award, which is in recognition of his immense achievements as GMD/CEO of the bank as well as his contributions to the growth of the financial services sector in ...

Official forex reserves status data report obtained from the Central Bank of Nigeria (CBN) indicated that forex reserves declined by $163.67 million last week. It capped a 10-week consecutive fall. The data showed that forex reserves depleted from $37.211 billion by January 16, 2023, to $35.78 billion at the weekend. Sponsored LinksYou May Like The Most Popular Volvo Vehicles In ...

The apex bank, Central Bank of Nigeria (CBN), has disbursed N12.65 billion to the Anchor Borrowers Programme (ABP), its flagship agriculture intervention scheme from January till date. The CBN Governor, Godwin Emefiele said this in Abuja, when he read the communique issued at the end of the 290th meeting of the apex bank’s Monetary Policy Committee (MPC). According to Emefiele, ...

Apex bank, the Central Bank of Nigeria (CBN) through its  Monetary Policy Committee (MPC) has hiked the benchmark interest rate by 50 basis points to 18. per cent. The CBN Governor, Godwin Emefiele, disclosed this while reading the communiqué of the second MPC meeting of the year in Abuja on Tuesday Speaking to newsmen at the end of the two-day ...