Banks have begun to increase interest rates on deposits in line with the sustained hike in the Monetary Policy Rate, MPR, by the Central Bank of Nigeria, CBN.At its last Monetary Policy Committee, MPC, meeting previous week, CBN raised MPR by another 25 basis points the sixth consecutive raise in the past one year, to…
Air Peace has said a passenger on board one of its flights who allegedly stole N1 million from another passenger’s bag has been caught, reports The News Agency of Nigeria. The spokesperson for the airline, Stanley Olisa, in a statement on Wednesday, said that the incident took place on board the Abuja-PHC flight P47192 on…
FCMB Group Plc grew its profit before tax for the half year 2023 to N38.2bn, marking a 148 per cent growth compared to N15.4bn in the corresponding period of 2022. It disclosed this in the group’s unaudited six-month results released on the Nigerian Exchange Limited on Tuesday. Across key indicators, the lender recorded impressive growth….
Airtel Africa Plc, on Thursday, reported that it lost $151m due to the harmonisation of foreign exchange rates in Nigeria. It disclosed this in its second quarter report filed with the Nigerian Exchange Limited. The telecom company said, “Profit after tax was negative ($151m), driven largely by a foreign exchange loss of $471m recorded in…
The group operating expenses of Ecobank Transnational Incorporated rose to $563m in the first half of 2023, representing an 11 percent increase when compared to figures recorded during the same period in 2022. The bank disclosed this in its half-year financial report released on Thursday. Ecobank said its “group operating expenses for the first half…
By Ayomide Otitoju Leading innovative and sustainable building solutions company, Lafarge Africa Plc, has initiated the process for regulatory approval of brand name Roadcemby Standards Organisation of Nigeria (SON) under the MANCAP certification scheme. Classic brand of CEM II BL 32.5R grade of cement is certified by SON under the MANCAP scheme. Roadcem brand is…
First Bank Nigeria Holdings Plc, has reported a profit before tax of N206 billion for the half year ended June 30, 2023. FBN Holding disclosed the figures in its second-quarter statement released yesterday on the Nigerian Exchange.The increase in second-quarter profits helped its half-year profit before tax to rise by 213% compared to N65.7 billion…
FBN Holdings Plc says it has recorded a profit before tax of N206 billion for the first half of 2023 financial year. The holding company… FBN Holdings Plc says it has recorded a profit before tax of N206 billion for the first half of 2023 financial year. The holding company said this in its unaudited…
The Federal Inland Revenue Service (FIRS) has announced a total tax revenue collection of N5.5 trillion for the half-year period of January to June 2023. This is the highest tax revenue collection ever recorded by the Service in any first six months of a fiscal year, the agency said in a statement Thursday. The statement…
