Business News Report

Q3 2019: UBA grows Net Profit by 32.3%, as gross earnings hit N428.22bn

United Bank for Africa Plc, has recorded impressive performance in its unaudited 2019 third quarter 2019 Financial Results, with significant growth in Gross Earnings, which rose...

Joint Ministerial Committee of the board of governors of World Bank, IMF on transfer of real resources to developing countries

1. The Development Committee met today, October 19, in Washington, DC. 2. Global growth remains subdued, reflecting the softening pace of investment and trade. Downside risks...

LCCI frowns at arbitrary seal up of auto dealers business in Lagos, Abuja

Lagos Chamber of Commerce and Industry has frowned at the arbitrary closure of major auto dealers business in Lagos and Abuja by Customs officials. In a...

Afreximbank intervention in maritime sector hits $500m in 3 years

The African Export Import Bank has said that its intervention in the maritime sector in the last 3 years is over US$500million facilities for the Onne...

Nigerian delegation to 2019 IMF/World Bank secures $3bn World Bank power financing, Nigerian banks are sound

At the conclusion of the 2019 IMF/World Bank Annual Meetings in Washington, the Nigerian delegation led by the minister of Finance said they have reached a...

IMF backs Nigeria border closure, says China a very important development partner for many countries in Sub-Saharan Africa,

International Monetary Fund IMF Africa department Director Abebe Aemro Selassie in Washington DC at the ongoing IMF/World Bank meetings held a press conference on sub-Saharan Africa...

IMF/World Bank Annual Meetings in pix

EU plans $1.2 trn post-Brexit budget

European Union leaders will discuss a new budget plan on Friday that could allow the bloc to spend up to 1.1 trillion euros ($1.2 trillion) in...

NSE moves 310.56m shares worth N4.99bn

The Nigerian Stock Exchange (NSE) moved 310.56 million shares worth N4.99 billion in 2,825 deals. This was against 147.09 million shares valued at N2.89 billion traded...

Forex Intervention: CBN sells $325.56m, CNY14m into Retail SMIS

Central Bank of Nigeria (CBN) has made an intervention of $325.5million in the retail Secondary Market Intervention Sales (SMIS) and CNY14million in the spot and short tenored...

IMB reports drop in piracy as Nigeria deep blue project takes off —NIMASA

The International Maritime Bureau (IMB) has reported a drop in piracy attacks in Nigeria in the third quarter of 2019. IMB said in its latest report, “Nigeria...

Afreximbank President receives two awards in the U.S.

Prof. Benedict Oramah, President of the African Export-Import Bank (Afreximbank), today in Washington, D.C., received the 2019 2019 Man of the Year Award from Diaspora Today...

CBN to keep using Monetary Policy to achieve price stability

Central Bank of Nigeria (CBN) in its 2018 Financial Stability report said it will continue to use monetary policy tools to achieve price stability and thus...

FAAC: FG, States, LGAs share N693.529bn for September

The Federation Account Allocation Committee (FAAC) in Abuja, shared a total of N693.529 billion to the three tiers of government for the month of September, 2019....

Sanwo-Olu, Okonkwo parley ASPAMDA, Trade Fair market leaders on infrastructure development

Lagos State Governor, Mr. Babajide Sanwo-Olu has met with market leaders from Alaba, Trade Fair axis in Lagos West senatorial district. The consultative meeting, which was...