All posts by Ifreke Inyang

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  Zenith Bank posts N274bn, gross earnings, N87bn profit

  Zenith Bank Plc monday joined the league of banks that have presented their nine months results ended September 30, 2014. The bank reported a profit before tax (PBT) of N86.8 billion and profit after tax (PAT) of...

  • Posted October 29, 2014
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  CBN places restrictions on banks’ dollar-denominated debts

  Disturbed by increase in borrowings by banks through foreign lines of credit and issuance of foreign currency denominated bonds (Eurobonds), the Central Bank of Nigeria (CBN), has placed some restrictions on raising of such funds by banks....

  • Posted October 29, 2014
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  Experts warn FG as oil prices slide continues

  As the decline in global oil prices has taken a big toll on the country’s revenue, experts have stressed the need for Nigeria to reduce its high recurrent expenditure. The prices of oil continued the downward trend...

  • Posted October 29, 2014
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  First Bank, LBS to host sustainability conference

  First Bank Sustainability Centre says it is sponsoring the International Sustainability Conference to be held at the Lagos Business School, as part of its commitment to promote the business of sustainability. The conference, themed, “Leading a sustainable...

  • Posted October 29, 2014
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  Ogun, Bayelsa, three others to get airports

  Five domestic airports will be constructed in the capital cities of Bayelsa, Kebbi, Kogi, Nasarawa and Ogun states, the Federal Government has said. The government said the plan to construct airports in Yenegoa, Brini Kebbi, Lokoja, Lafia...

  • Posted October 29, 2014
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  FCMB gets $300m from DFIs, others

  First City Monument Bank Limited has secured over $300m medium and long term funding from Development Finance Institutions and international commercial banks in four different transactions. The bank said on Monday that the proceeds of the facility...

  • Posted October 29, 2014
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  FG gazettes removal of VAT on market transactions

  The abolition of five per cent Value Added Tax (VAT) paid by investors on shares traded in the Nigerian capital market by the federal government has become effective. This follows the gazetting of the issue by the...

  • Posted October 29, 2014
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  UBA records N211bn gross earnings in nine months

  United Bank for Africa (UBA) Plc, one of Africa’s leading banks, last Friday announced gross earnings of N211 billion for the nine months ended September 30, 2014, showing an increase of 12 per cent above the N188...

  • Posted October 28, 2014
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  Analysts predict decline in FGN bond yields

  Increased demand for Nigerian government bonds from local pension funds last week buoyed debt note prices after four weeks when falling global oil prices and a rapid decline in the value of the naira currency had forced...

  • Posted October 28, 2014
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  Falling oil prices won’t affect 2015 budget – Reps

  The House of Representatives on Sunday dismissed fears that the falling crude oil prices would adversely affect the 2015 budget. From around $114 months back, the prices of crude have dropped far below $100 per barrel lately,...

  • Posted October 28, 2014
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