Economy
UBA’s profitability rises 9.6% to N44.5bn
United Bank for Africa (UBA) Plc has recorded N44.5 billion profit before tax, PBT, for the first quarter ending March 31st 2022, Q1’22, representing a 9.6 per cent increase from N40.6 billion in the corresponding period of…
GTCO posts N54.3bn profits in Q1’22
Guaranty Trust Holding Company (GTCO) Plc has reported N54.3 billion in Profit Before tax (PBT) for the first quarter (Q1) ended March 31, 2022, representing 1.1 per cent increase compared to N53.7 billion posted in the…
Credit to govt rises 22.5% to N16.3trn in Q1’22
In apparent reflection of increased borrowing activities of the federal and state governments, credit to the government rose by N3 trillion or 22.5 per cent, quarter-on-quarter (QoQ) to N16.3 trillion in Q1’22 from N13.3…
Nigeria seals $300m FDI deal with UK
About $300 million Foreign Direct Investment inflow is expected into Nigeria from the United Kingdom.When conclude, the deal which is coming as a support for small and medium sized enterprises in Nigeria, is expected to…
Petrol: Nigeria’s daily consumption rises to 74m litres
Nigeria daily consumption of Premium Motor Spirit, PMS, also known as petrol, has risen from 72.07 million litres a day in December 2021 to 74 million litres per day as at the week ended April 3, 2022.This came as 36 states…
MTN Nigeria raises N127bn via commercial paper
MTN Nigeria Communication Plc has raised N127 billion through commercial papers (CP).The N127 billion was raised through the issuance of series 1 &11 notes under the company’s N150 billion commercial papers (CP)…
FG’s deficit spending rises 23% to N7.3 trn
Deficit spending by the Federal Government (FG) rose by 23.7 per cent, YoY, to N7.3 trillion in 2021 from N5.9 trillion recorded in 2020.The Central Bank of Nigeria, CBN, disclosed this in its fourth quarter 2021 (Q4’21)…
STOCK MARKET: Investors’ dividend earnings up 47.1% to N1.1trn
Stock market investors are set to enjoy a 47.1 per cent YoY increase in dividend earnings to N1.1 trillion for the financial year ended 2021, up from N732.9 billion the preceding year 2020.The Return on Investment, RoI, which…
Net foreign exchange inflow falls 27% to $52.46bn
Net foreign exchange (forex) inflow into the economy fell by 27 per cent, Year-onYear, to $52.46 billion in 2021 from $70.66 billion in 2020.Vanguard analysis of the fourth quarter 2021 (Q4’21) statistical bulletin of the…
Anchor Insurance gets nod to sell passengers’ flight welfare scheme
The National Insurance Commission (NAICOM) has approved Local Passengers’ Flight Welfare Scheme for Anchor Insurance Company Limited.This follows the firm’s determination to expand its retail market which aims to subsequently…
ZENITH BANK
