SECTORS

NDIC Begins N46.6b Payout To Defunct Heritage Bank’s Top Depositors

The Nigeria Deposit Insurance Corporation (NDIC) has commenced payment of N46.6 billion as the first tranche of liquidation dividends to depositors of the defunct Heritage Bank, whose funds exceeded the maximum insured limit of N5 million. The corporation announced the development in a…

1 day ago

Dangote Cement Posts N311.974b Pre-Tax Profit Q1 2025

Dangote Cement Plc has released its unaudited financial results, reporting a pre-tax profit of N311.974 billion for the first quarter ended March 31, 2025. The figure represents an 87.48% year-on-year (YoY) growth compared to N166.404 billion recorded in Q1 2024. The company also posted…

1 day ago

UBA To Complete CBN’s N500b Capital Requirement In Q3 2025 — Elumelu

The Chairman of the Board of Directors, United Bank for Africa Plc (UBA), Tony Elumelu, on Friday assured stakeholders that the bank will meet the Central Bank of Nigeria’s (CBN) N500 billion minimum capital requirement for international commercial banks by Q3 2025,…

1 day ago

Nigeria To Become Full Petroleum Exporting Nation, NMDPRA Licenses 83 Refineries

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has projected that Nigeria could achieve full petroleum export status within two years, following the licensing of 83 refineries by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). The NMDPRA has issued…

3 days ago

SEC Warns Bloggers, Influencers Against Promoting Unregistered Investments

The Securities and Exchange Commission (SEC) has issued a stern warning to celebrities, bloggers and social media influencers against promoting unregistered investment schemes, as the regulatory body intensifies efforts to protect investors under the newly enacted Investments and Securities Act (ISA) 2025. The…

22/04/2025

Top Five Nigerian Banks Gross N17.3 trillion, Grow Profit by 60%

Despite prevailing macroeconomic challenges, the top five Nigerian banks have posted a combined profit before tax (PBT) of N5.1 trillion for the 2024 financial year, a 59.4 per cent increase from N3.2 trillion recorded in 2023. The top five banks – First HoldCo,…

22/04/2025

DHL To Stop Global Shipments Worth Over $800 To US Consumers

Global shipping giant DHL will “temporarily” suspend the shipping of parcels worth more than $800 from businesses to individuals in the United States as of Monday, the company said, citing delays in US customs clearances. “As a result of recent US Customs regulatory…

21/04/2025

PwC Withdraws From Nine Sub-Saharan African Countries

PricewaterhouseCoopers said it has shut down its offices in nine Sub-Saharan African countries. It listed Ivory Coast, Gabon, Cameroon, Madagascar, Senegal, the Democratic Republic of Congo, Republic of Congo, Republic of Guinea, and Equatorial Guinea as countries affected. In a statement published on its…

19/04/2025

Dangote Slashes Petrol Ex-Depot Price, Now ₦835

For the second time in the month of April, Dangote Petroleum Refinery and Petrochemicals has again reviewed its ex-depot (gantry) loading cost of petrol to ₦835 per litre. The $20bn Lagos-based refinery informed its marketers and customers of the slash on Wednesday. An official…

17/04/2025

VFD Returns to Profitability, Posts N4.5 Billion Revenue

VFD Microfinance Bank has reported a significant 39.8 per cent increase in revenue, rising from N3.2 billion in 2023 to N4.5 billion in 2024. The impressive growth is accompanied by a remarkable turnaround in profitability, with the bank posting a profit after…

15/04/2025

SECTORS

NDIC Begins N46.6b Payout To Defunct Heritage Bank’s Top Depositors

Dangote Cement Posts N311.974b Pre-Tax Profit Q1 2025

UBA To Complete CBN’s N500b Capital Requirement In Q3 2025 — Elumelu

Nigeria To Become Full Petroleum Exporting Nation, NMDPRA Licenses 83 Refineries

SEC Warns Bloggers, Influencers Against Promoting Unregistered Investments

Top Five Nigerian Banks Gross N17.3 trillion, Grow Profit by 60%

DHL To Stop Global Shipments Worth Over $800 To US Consumers

PwC Withdraws From Nine Sub-Saharan African Countries

Dangote Slashes Petrol Ex-Depot Price, Now ₦835

VFD Returns to Profitability, Posts N4.5 Billion Revenue

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