The interim management of the national carrier, Nigeria Air, on Monday explained why the proposed new airline had not been able to take delivery of any aircraft required for its operations. Speaking at the headquarters of the Nigerian Civil Aviation Authority after receiving an Air Transport Licence for Nigeria Air, the Chief Executive of the…
Amid increasing calls for diversification of the economy, Nigeria’s crude oil exports jumped to N5.6trn in the first quarter of 2022, reflecting nearly 200 per cent increase when compared to the same period in 2021. The figures, contained in the Foreign Trade Report of the National Bureau of Statistics, said Nigeria’s total merchandise trade stood…
FirstBank delighted investors with a pleasant surprise when it announced stellar results confirming that its turnaround strategy pinned on the pillars of innovation, resilience and digging deep is working. Its profit after tax spiked 108% to N32.4billion on the back of massive loan recoveries and a sharply lower level of non-performing loans (6.1%). Its capital…
BtoB Events, organisers of Food & Beverage West Africa, has said that the trade show will return to Lagos in two weeks’ time. According to a statement, the exhibition will run from June 14-16 and will have more than 220 exhibitors from five continents taking part. The statement said the event would place a real…
Nigeria’s tier 1 lender, Access Bank, has pledged to fund entrepreneurs and create market access for small businesses by putting them in the right community. Speaking during a conversation with customers in the micro-, small- and medium- scale category, Deputy Managing Director, Access Bank, Victor Etuokwu, said the bank remained resolute in its drive to…
By Sam Adurogboye Permit me to start this conversation with a reference to the statement credited to Mahatma Gandhi, one of the most iconic leaders who ever lived. While this is in no way an attempt to make comparisons, Gandhi’s timeless words and his calm, peaceful approach to tackling some of the world’s most intractable…
The Multimedia Publishers Association of Nigeria (MPAN), has commended the performance of the Federal Inland Revenue Services (FIRS). Gambo Jagindi, National Chairman of MPAN, gave the commendation in a statement on Friday, in Abuja. Jagindi said the FIRS, under the leadership of Muhammad Nami, the Executive Chaiman, had exceeded expectations by crossing the N6 trillion…
With a significant cut in its impairment charges (which translates into a clean loan book) in its 1Q, 2022 results, after it successfully brought down its non-performing loan to 6.1 per cent in 2021 full year performance, analysts say the repeat of the impressive performance of FirstBank in the first quarter did not only show…
As financial market analysts continue to digest the 2021 financial results of the FirstBank Limited, which they say reflect the return of the banking conglomerate to its leadership position, Festus Akanbi writes that the regime of strong fundamentals which the robust performance represents is in tandem with the ongoing restructuring being midwifed by the current…
