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All posts by BusinessNews Staff

  • Sterling Bank records N10.3bn profit after tax

    Sterling Bank Plc monday joined banks that have reported profit for the 2015 financial year despite the regulatory headwinds and downturn in the Nigerian economy. The bank reported a profit before tax of N11 billion in 2015,...

    • Posted March 23, 2016
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  • CBN calls for stakeholders’ inputs on Corporate Governance Code

    The Central Bank of Nigeria (CBN) has advised the Financial Reporting Council of Nigeria (FRCN) to ensure that it considers the input of a wide-range of stakeholders in its preparation of the National Code of Corporate Governance...

    • Posted March 23, 2016
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  • States to enjoy 13% derivation from solid minerals

    The Minister of Solid Minerals, Dr. Kayode Fayemi has said that solid minerals-producing states would enjoy 13 per cent derivation as crude oil-producing states as part of the efforts to encourage the development of solid minerals in...

    • Posted March 23, 2016
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  • Wema Bank reports 9.5% rise in gross earnings

    Wema Bank Plc has reported a 9.5 per cent growth in its gross earnings for 2015 financial year on the back of improved deposit liabilities and its risk management framework. This, it noted in a statement, was...

    • Posted March 23, 2016
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  • Access Bank gets NCR SelfServ ATMs

    Access Bank Plc has enhanced its Automated Teller Machine portfolio with the latest SelfServ ATMs from NCR Corporation to improve speed of service, reduce downtime and enhance customer experience. The NCR, the global leader in consumer transaction...

    • Posted March 23, 2016
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  • Consumers kick as power firms implement new tariffs

    Power distribution companies have implemented the over 40 per cent increase in electricity tariffs despite protests against the development by consumers and labour unions as well as a directive by the Senate to the Nigerian Electricity Regulatory...

    • Posted March 22, 2016
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  • Nigeria records 5.2% fall in cocoa production

    Nigeria’s cocoa production has dropped by 5.2 per cent from 248,000 metric tonnes in the 2013/2014 planting season to 235,000 metric tonnes in the 2014/2015 season, according to information gathered from stakeholders in the cocoa value chain....

    • Posted March 22, 2016
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  • DPR reviews guidelines on fuel depot ownership

    The Director, Department of Petroleum Resources, Mr. Mordecai Ladan, says the agency has commenced a review of its guidelines to ensure that no one builds fuel depots without retail outlets for distribution. Ladan stated this in Lagos...

    • Posted March 22, 2016
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  • States’ internally generated revenue hits $4.0billion

    States in the country now rely less on federal allocations as latest statistics released by the Central Bank of Nigeria (CBN) have revealed significant increase in their Internally Generated Revenues (IGRs). The CBN data for 2014 revealed...

    • Posted March 22, 2016
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  • Nigeria’s GDP projected to hit $6.4trn by 2050

    The Nigeria’s Gross Domestic Product (GDP) has been projected to rise to $6.4trillion by 2050, thereby moving the country to the ninth position on the world ranking, surpassing Germany, United Kingdom, France, and Saudi Arabia. This was...

    • Posted March 22, 2016
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