Customer sue Stanbic IBTC Bank for N2 Billion over breach of contract

A limited liability company, Infinity Snacks and Beverages Limited,alleged to have suffered economic misfortune as a result of breach of contract by Stanbic IBTC bank Plc has slammed N2billion suit on the said bank. In a statement of claim filed before a Lagos high court,south west Nigeria by a Lagos lawyer, Barrister Olumide Sofowora SAN, […]

Economic Recovery: Emphasising Made-in- Nigeria Goods

The love for foreign goods and services to the detriment of locally produced ones has remained a debilitating economic drain which has, in turn, contributed immensely to the current recession. It is for this reason that the current campaign to promote the patronage of Made- in -Nigerian goods has been hailed as a sure means…

CBN Releases Fresh $100m To FOREX Market

Apart from the $280 million it injected into the Foreign Exchange Market on Tuesday, April 18, 2017, the Central Bank of Nigeria (CBN) on yesterday, carried out spot, wholesale interventions in the interbank FOREX market by offering a total sum of $100m to authorized dealers to meet the 7 to 15-day forwards requests of customers….

5 CBN’s Important Banks Dominate 69.8% Industry Total Assets

Five out of eight of the Central Bank of Nigeria (CBN’s) Systemically Important Banks (SIBs) that include Ecobank Transnational Incorporated, parent company of Ecobank Nigeria, Guaranty Trust Bank Plc, Access Bank Plc and two other financial institutions dominated 69.8 per cent industry total assets in 2016. The other two financial institutions are United Bank for…

Abuja Airport: British Airways, Turkish Airlines, Others Resume Full Operations Today

Barely 24 hours after the Nnamdi Azikiwe International Airport (NAIA) was opened for flight operations, no fewer than seven foreign airlines are expected to resume full flight operations into and out of the airport today. Ethiopian Airlines had on Tuesday landed with over 200 passengers on-board an A350 aircraft, making it the first time the…

Electronic Transactions Hit N40.5trn In 2016 – CBN

The Central Bank of Nigeria (CBN) has disclosed that value of electronic transactions in the banking sector crossed the N40 trillion threshold to N40.5 trillion in 2016 to reflect the growing public confidence in the system as a result of the convenience of electronic transactions and sensitization. The Financial System Stability Report (FSSR) by CBN…

Sterling Bank declares 14.3% profit increase

Sterling Bank declares 14.3% profit increase

In spite of the regulatory headwinds and downturn in the Nigerian economy, Sterling Bank Plc recorded growth in virtually all its performance indicators for the year ended December 31, 2015, pushing up profit before tax by 2.5 per cent to N11.0 billion. Similarly, profit after tax rose by some 14.3 per cent to N10.3 billion […]

UBA Grosses N60 Billion in profits, pays additional 40kobo dividend.

LAGOS, NIGERIA-March 14, 2016 – United Bank for Africa Plc; the pan African financial services Group with operations in 19 African countries has delivered another strong and impressive financial performance. In its Audited Full Year results for the year ended December 31, 2015, released to the Nigerian Stock Exchange (NSE) on Monday, the bank recorded […]