Brand & Business

Unity Bank Records N38.2 Billion Gross Earnings in Q3’23

By Adeola Idris Retail lender, Unity Bank Plc has recorded gross earnings of N38 billion for the nine-month period ended September 30, 2023, with customer deposits appreciating by 5% to N344.4 billion within the period, indicating business growth and customer confidence in the Bank. A review of the lender’s unaudited nine-month results released to the Nigerian Exchange Group Limited showed that the Bank continued to… []

Fidelity Bank Wins Export Finance Bank If The Year Award At 2023 BusinessDay BAFI Awards

L – R: Executive Director/Chief Risk Officer, Fidelity Bank Plc, Mr. Kevin Ugwuoke; Group Chief Executive Officer, Emerging Africa Group, Mrs. Toyin Sanni; and Executive Director, Lagos and South West Business, Fidelity Bank Plc, Dr Ken Opara at the BusinessDay and Other Financial Institutions’(BAFI) Awards 2023 where Fidelity Bank received the award of the “Export Finance Bank of the Year” over the weekend. By Adeola… []

Zenith Bank Maintains Impressive Performance With Triple-Digit Topline And Bottom Line Growth In Q3 2023

Zenith Bank Building  By Bunmi Onakan Zenith Bank Plc has announced its unaudited results for the third quarter ended 30 September 2023, recording a remarkable triple-digit growth of 114% from N620.6 billion reported in Q3 2022 to N1.33 trillion in Q3 2023. This performance demonstrates the Group’s resilience and strong market share despite a very challenging macroeconomic environment. According to the bank’s unaudited third quarter… []

Customer Service Week: Unity Bank Rolls Out Rewards to Celebrate Frontline Staff, Customers

By Bunmi Onakan  To mark the 2023 Customer Service Week, Unity Bank Plc customers will win prizes while participating in engagement activities lined up for the week-long celebration. From October 2 – 6, the Bank will also celebrate the exceptional teams in its over 200 branches nationwide rewarding outstanding staff members, while reflecting on the theme of this year’s event – Team Service. To make… []

Nigerian Stock Market Falls, Investors Lose N757bn Over FTSE Downgrade

– NGX Building By Bunmi Onakan  Nigerian Exchange Limited (NGX) falls and investors on the stock market have lost N757 billion in two days over the demotion of the exchange from frontier to unclassified market status by FTSE Russell. The downgrade by FTSE Russell, a subsidiary of London Stock Exchange Group (LSE), was against the backdrop of Nigeria’s foreign exchange (FX) challenges, which was a… []

Zenith Bank Records Impressive Tripple-Digit Surge In Topline And Bottomline H1 2023 Result

– Zenith Bank Head office  By Bunmi Onakan  Zenith Bank Plc has announced its audited results for the half-year ended 30 June 2023, recording an astounding triple-digit growth of 139% in gross earnings from N404.8 billion reported in H1 2022 to N967.3 billion in H1 2023. This is a clear demonstration of its resilience and strong market share despite a very challenging macroeconomic environment and… []

Aliko Dangote Celebrates African Young Global Leaders

  Members with Alhaji Aliko Dangote inside the Fertilizer plant, During the Forum of Young Global Leaders, Aliko Dangote Fellowship Convening 2023 in Lagos, Visit Dangote Oil Petroleum and Fertilizer plant Lekki Lagos on Friday on 8th September 2023 By Bunmi Onakan  At the World Economic Forum Annual Meeting 2011 in Davos, Switzerland, Aliko Dangote, President, and Chief Executive Officer of the Dangote Group, learned about… []

Nigerian Business Mogul, Dr Abbey Onas Extols Investment Opportunities At Global Economic Forum In Poland

– Dr. Abbey Onas poses with European associate By Adegboyega Johnson  Amidst a resounding call to reshape perceptions about investment in Nigeria by President Bola Ahmed Tinubu GCFR and his proactive policies aimed at inviting more foreign direct investments (FDI) for Nigeria, The Coordinator of the Ogun-Guangdong Free Trade Zone and Chairman, ZGM Investment Group, Dr. Abbey Onas, passionately urged European foreign investors to seize… []

CBN Set To Clampdown On Firms Involved In Illegal FX Deals

– Mr. Folashodun Shonubi, CBN Acting Gov. By Bunmi Onakan  To clear the unsettled foreign exchange (FX) backlog, Acting  Central Bank of Nigeria (CBN) Governor, Mr. Folashodun Shonubi, has disclosed that the apex bank was working with commercial banks to achieve this in the next two weeks. Shonubi, stated this in Lagos, while speaking on the role players in the FX market should play to… []

Wale Tinubu’s Oando Signs Pact To Acquire Eni’s Nigerian Subsidiary

– Oando office  By Ademola Idris  Oando has agreed to buy the Nigerian exploration and production unit of Italian oil major Eni for an undisclosed amount, a statement by the oil driller said on Monday. The consummation of the deal is subject to ministerial consent and other regulatory authorisations. Shares in Oando, which has a secondary listing in Johannesburg, jumped by 9 per cent in… []

GTCO Releases Audited Consolidated and Separate Financial Statements For The Period Ended June 30, 2023, To The NGX And LSE

  – GTCO Logo By Bunmi Onakan  The Group reported profit before tax of ₦327.4billion, representing an increase of 217.1% over ₦103.2billion recorded in the corresponding period ended June 2022. The Group’s loan book (net) increased by 22.8% from ₦1.89trillion recorded as at December 2022 to ₦2.32trillion in June 2023, while deposit liabilities grew by 37.0% from ₦4.61trillion in December 2022 to ₦6.32trillion in June… []

Investigation: Dangote Cement Not On Sale In Benin Republic

– Dangote Cement  By Bunmi Onakan  … Cement sells at an average price of N6,216 in Benin despite the regulation The allegation that went viral on social media last week that Dangote Cement Plc was selling a bag of 50kg cement to Nigerians at an exploitative rate of N5,200 while it sells the same quantity of cement at N1,500 in the Republic of Benin was… []

Dangote Cement Remits N412.9bn Tax To FG In 3 Years

– Aliko Dangote  By Bunmi Onakan Dangote Cement Plc, a subsidiary of Dangote Industries Limited, (DIL), paid a total of N412.9 billion into the coffers of the Federal Government as tax for 3 consecutive years. A total of N97.24 billion was paid by Dangote Cement in 2020, N173.93 billion in 2021 and N141.69 billion in 2022. This huge tax payment from only one of the… []

FastCash Offers Loan For School Payment

– FCMB logo By Bunmi Onakan  As students get set to resume another academic session, FastCash, powered by First City Monument Bank (FCMB), is offering parents and guardians up to N200,000 to help them cover the costs of school fees and back-to-school supplies. The credit line supports the purchase of school uniforms, books, bags, confectionaries, and other items required to enhance children’s learning experience. Commenting… []

Access Pensions Surpasses N1 Trillion AUM Milestone

Access Pensions Limited, a subsidiary of Access Corporation, has achieved an astonishing feat, surpassing the N1 trillion mark in assets under management (AUM). In an impressive trajectory, the Company – which emerged from the business combination of Sigma Pensions and First Guarantee Pension in December 2022 – has scaled up its assets under management to surpass the N1 trillion threshold in just six months. This… []

Zenith Bank Appoints DR. Juliet Ehimuan A Non-Executive Director

– Dr. Juliet Ehimuan By Bunmi Onakan The Board of Directors of Zenith Bank Plc has appointed Dr. Juliet Ehimuan as a Non-Executive Director of the bank effective August 29, 2023. The appointment, which was announced in a statement to the Nigerian Exchange (NGX) Limited on Tuesday, August 29, 2023, has also be confirmed by the Central Bank of Nigeria. Dr Juliet Ehimuan is the… []

Dangote Cement: Clarification Of Cement Price Misinformation

…..says Nigeria’s price is in line with or lower than prices across the West African coast. Management of Dangote Cement Plc has clarified that the price of a bag of cement from its factories across Nigeria (as at 28th August 2023) is N4,010 in Okpella and N4,640 in Ibese, Objana, and Gboko. Including transportation costs and the location of delivery, prices could range between N5,000… []

Onyeali-Ikpe, Olusanya Make Top 10 On 2023 Definitive List Of Women CEO

  – Nneka Onyeali-Ikpe, Managing Director/CEO, Fidelity Bank Plc The third annual Africa.com Definitive List of Women Chief Executive Officers (CEOs) was revealed on April 19. Nneka Onyeali-Ikpe, Managing Director/CEO, Fidelity Bank Plc and Miriam Chidiebele Olusanya, Managing Director, Guaranty Trust Bank made the top 10 list. Both companies are listed on the Nigerian Exchange Limited (NGX). The list is unique in that it is… []

University VC Hails Dangote’s Impact on Nigeria’s Agricultural Revolution

L–R, Vice – Chancellor of Lagos state University of Science and Technology Ikorodu, Prof. Olumuyiwa Odunsanya, Vice – Chancellor Lagos state University Ojo, Prof. Ibiyemi Olatunji – Bello, Managing Director/ CEO, Dangote Fertilizer, Vishawajit Sinha, Secretary of Committee of Vice – Chancellors of Nigeria, Prof. Yakubu Ochefu, During the Committee of Vice – Chancellors of Nigerian Universities, Visit Dangote Fertilizer Limited plant Lekki on Thursday… []

With N206.3bn Half Year Result, FBN Posts New Record in PBT

— First Bank Head office  — By Bunmi Onakan FBN Holdings Plc, yesterday on the Nigerian Exchange Limited (NGX), declared N206.3billion profit before tax (PBT) in its unaudited half year (H1) account ended June 30, 2023, which was a new record high for the oldest financial institution in Nigeria. The PBT recorded was about 213.8 per cent higher, when compared with the N65.7 billion declared… []