Category: Business News
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NOVA Merchant Bank’s growth trajectory continues, declares N3.52bn profit
NOVA Merchant Bank Limited has released its audited results for the financial year ended December 31st2020, recording impressive growth across its major financial lines. The Bank declared a profit after tax of N3.49bn in 2020 compared to N1.65bn in 2019 which represents a 112% increase. All the key financial parameters recorded major improvement over the…
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Okugbe MFB gets major boost with view to chase poverty out of Urhobo land
The proposed Okugbe Microfinance Bank (Okugbe MFB) on Friday received a massive boost with a promise from Mr. Abraham Ogbodo, chairman of the committee set up to raise funds for the bank, that the stage is set to chase poverty out of Urhobo land. TheNewsGuru.com (TNG) reports Okugbe MFB is being set up by the…
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We are engaging CBN for better understanding, regulation of cryptocurrencies – SEC DG
The Securities and Exchange Commission (SEC) says it is working with the Central Bank of Nigeria (CBN) for better understanding and regulation of cryptocurrencies in the country. The Director-General, SEC, Lamido Yuguda, said this at the 2021 first post-Capital Market Committee (CMC) virtual news conference. Yuguda said that the commission was in discussion with the…
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![Rivalry war: Ganduje, others wade in, reconcile Aliko Dangote, Abdussamad Isyaka-Rabi’u over sugar plant saga [Photo]](https://thenewsguru.ng/wp-content/uploads/2021/04/Governor-Ganduje-settling-rifts-with-Dangote-BUA-sugar.jpg)
Rivalry war: Ganduje, others wade in, reconcile Aliko Dangote, Abdussamad Isyaka-Rabi’u over sugar plant saga [Photo]
Governor Abdullahi Ganduje of Kano state has waded into the dispute between Dangote and BUA companies owned by two business moguls from the state. This is in order to resolve the lingering conflict among the two Kano State prominent indigenes Aliko Dangote and Abdussamad Isyaka-Rabi’u over the establishment of a Sugar plant by BUA. A…
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![[JUST IN] N60bn support for March: Time will tell who is lying between me and FG – Obaseki](https://thenewsguru.ng/wp-content/uploads/2020/06/Godwin-Obaseki-2.jpg)
[JUST IN] N60bn support for March: Time will tell who is lying between me and FG – Obaseki
Governor Godwin Obaseki of Edo State has said he won’t join issues with the Federal Government over his claim that N60 billion was printed in March to support allocation to states. TheNewsGuru.com, TNG reports that Obaseki had lamented the fiscal state of the nation, stating Nigeria is in financial trouble. While speaking at the Edo…
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BREAKING: Nigeria records highest inflation rate in four years
Nigeria’s inflation rate has continued to rise as the Consumer Price Index (CPI) which measures inflation increased to 18.17 per cent (year-on-year) in March. This is 0.82 per cent points higher than the rate recorded in February (17.33 percent), which makes it the highest reported in four years since April 2017. The National Bureau of…
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BREAKING: FG breaks silence on Obaseki’s claim of printing N60bn to support March allocation
he Federal Government has denied it printed N60bn to augument March allocation to States as alleged by Edo Governor Godwin Obaseki. It described the allegation by Obaseki as untrue and sad. Minister of Finance, Budget and National Planning, Zainab Ahmed, told State House correspondents: “The issue that was raised by the Edo State Governor for…
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FG again alerts FAAN of planned attacks on six airports
The Federal Airports Authority of Nigeria (FAAN) has confirmed the receipt of an alert from the Ministry of Aviation over planned attacks on airports in the country. These airports are those in Kaduna, Maiduguri, Sokoto, Kano, Abuja and Lagos State. The report of the threat was contained in a memo signed by FAAN’s Deputy General…
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Franco-Nigeria bilateral trade drops by $2.2bn – French Minister
France, on Tuesday, announced that its volume of trade with Nigeria in year 2020 dropped to $2.3 billion dollars, from $4.5 billion in 2019, as a result of COVID-19. The French Minister in charge of Foreign Trade and Attractiveness, Mr Frank Riester, disclosed this at a meeting he held with the Nigeria Governors’ Forum (NGF),…
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NNPC records 37.21% drop in oil pipeline vandalism
The Nigerian National Petroleum Corporation (NNPC) has announced a 37.21 % decrease in cases of pipeline vandalism across the country in the month of January 2021. This is contained in the January 2021 edition of the NNPC Monthly Financial and Operations Report (MFOR), according to a press release by the Group General Manager, Group Public…