Category: Business News
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UBA assures shareholders better times as assets hit N7.7trn
United Bank for Africa (UBA) Plc on Thursday assured its shareholders and investors of enhanced returns on investments in the coming months. This, the bank said, followed its establishment of a diversified business model that would ensure impressive performance. The Chairman, UBA Group, Mr Tony Elumelu, gave the assurance at the bank’s 59th Annual General…
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Buhari appoints Dafinone, Hassan as NEXIM bank board members
President Muhammadu Buhari has appointed Mr. Ede O. Dafinone and Mr. Kabiru Hassan as members of the Board of the Nigeria Export-Import (NEXIM) Bank. They are to replace Mr. Adesina Adegbenro and Hajiya Ramatu Ahmad whose tenure of appointments expired on 28th December, 2020, after spending the stipulated and non-renewable three-year term on the NEXIM…
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Photo News: Fidelity Bank Executive Director, Lagos & South-west, Dr. Ken Opara And Family Holds Thanksgiving Service
The Executive Director, Lagos and South-West of Fidelity Bank Plc, Dr. Ken Opara and his wife were all smiles on Sunday during their family thanksgiving in Lagos. Former Governor of Anambra State, Peter Obi and former chairman board of directors of the bank, Mr. Ernest Obi were present to make the thanksgiving memorable. See picture…
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SEC moves to improve forex earnings with new rules on warehousing
The Securities and Exchange Commission (SEC) has released new rules covering warehousing and collateral management to ensure vibrant commodities trading. A statement by the commission issued to newsmen on Sunday in Abuja said that the move would translate into foreign exchange earnings for the country. According to SEC, every warehouse that stores commodities to be…
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Foreign airline bags N7m fine for cancelling flights without notice
A Federal High Court sitting in Lagos has awarded a fine of N6 million as general damages against Ethiopian Airlines Ltd. for cancelling three Nigerians’ flights without due notice to the plaintiffs. In his ruling on Friday, Justice Adekunle Faji also awarded another sum of N1 million as the cost of the action. The sums…
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UBA America to Facilitate Investment, Development Capital, Trade Between North America and Africa, says CEO
UBA America, the United States’ subsidiary of Pan African financial institution, United Bank for Africa (UBA) Plc, has pledged its continuous commitment to facilitate trade and investment between North America and the African continent. Speaking on Thursday from the Bank’s office in New York, the Chief Executive Officer, UBA America, Ms. Sola Yomi-Ajayi, disclosed that…
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NNPC Records 80.12% Increase in Trading Surplus in December
The Nigerian National Petroleum Corporation (NNPC) has announced an increase of 80.12% in trading surplus for the month of December 2020 which stands at ₦24.19billion compared to the ₦13.43billion surplus recorded in November 2020. This is contained in the December 2020 edition of the NNPC Monthly Financial and Operations Report (MFOR), according to a press…
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United Capital holds 2021 AGM; shareholders to receive N4.2bn divided payout
Following the release of its remarkable audited financial results for 2020, foremost Pan-African financial services conglomerate, United Capital Plc, held its Annual General Meeting on Tuesday, March 23, 2021 at Lagoon Restaurant, Victoria Island, Lagos. At the Annual General Meeting, which was held by proxy due to the COVID-19 pandemic, the Company presented its…
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CBN retains MPR at 11.5 per cent
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has voted to retain the monetary policy rate at 11.5 percent. The announcement was made on Tuesday by the CBN governor He noted that the MPR is the baseline interest rate in an economy and every other interest rate used within an economy…
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FG orders resumption of catering services on domestic, international flights
The minister of Aviation, Sen. Hadi Sirika, said catering services, hitherto suspended at the onset of the COVID-19 pandemic were to resume on both domestic and international flights immediately. Sirika said this at the National briefing of the Presidential Task Force (PTF) on COVID-19 on Monday in Abuja. According to the minister, the decision was…