FBN holding Q1 pretax profit up 8.7 per cent
First Bank Holding Company posted an 8.7 percent rise in its first quarter pretax profit to 26.94 billion naira ($135.38 million) after booking higher lending income. Interest income increased to…
Nigerian interbank rates fall on matured bonds, T-bills
Nigeria’s overnight lending rates halved to an average 6 percent on Friday from 12.25 percent last week after central bank retired large matured bonds and treasury bills in the week,…
CBN orders banks, discount houses to crack down on delinquent debtors
Following the rising trend of non-performing loans (NPLs) in the banking industry, the Central Bank of Nigeria (CBN) has ordered deposit money banks and discount houses to crack down on…
Nigerians lose N84m to xenophobic attacks in South Africa
The Nigerian Union in South Africa said on Saturday that Nigerians lost more than 4.6 million Rand (N84 million) to xenophobic attacks . The President of Nigerian Union in South…
Continental Re sees huge growth as Africa’s construction booms
Africa’s Continental Re plans to double premium income from its property and engineering business to $80 million over the next five years, as it bets on the continent’s infrastructure boom,…
Unpaid subsidy: oil marketers threaten to stop importation
The Major Oil Marketers Association of Nigeria (MOMAN) on Friday threatened to stop the importation of petroleum products over yet-to-be-paid N256 billion subsidy claim by the Federal Government. The Executive…