Energy company, Oando Plc on Wednesday said its profit after tax rose to N34.7bn in the 2021 financial period.
The group disclosed in a statement on Wednesday on its audited results for the year ended December 31, 2021 that this was from a loss after tax of N140.7bn reported in 2020.
It also said its total group borrowings increased by 10 per cent to N460.8bn compared to N419.6bn recorded in…
The Lagos State Government through the Ministry of Physical Planning and Urban Development has signed a Memorandum of Understanding with eTransact to curb unregulated development, manage setbacks and open spaces, and improve the beautification of the state’s…
Thirty-two per cent (64.3 million) of Nigerians do not have enough food to consume, the World Food Programme, an organisation within the United Nations, has stated.
According to the organisation, 170 million people do not have sufficient food to consume across 19 countries.
Alibaba announced Tuesday that it would split into six business groups in one of the most significant overhauls of a leading Chinese tech firm to date.
The company’s chairman and CEO, Daniel Zhang, said the restructuring would enable each separate business to pursue its own fundraising and public listing plans.
Hangzhou-based Alibaba said the moves were intended to “unlock shareholder…
The Chief Executive Officer of VerifyMe, Esigie Aguele, says artificial intelligence will help accelerate Africa’s drive towards achieving open finance and bridging the continent’s $120bn lending gap.
Aguele made the projection while speaking on a TV business programme…
The Co-founder and Chief Executive Officer of Paystack, Shola Akinlade, has bought a 55 per cent stake in second-division Danish club, Aarhus Fremad.
The deal which was announced on Tuesday will see Aarhus Fremad become a sister club to Sporting Lagos FC, a Lagos-based…
Zenith Bank Plc grew its gross earnings by 24 per cent from N765.6n as of the end of 2021 financial period to N945.5bn in the corresponding period of 2022.
The bank disclosed this in a statement on Tuesday on its audited results for the year ending December 31, 2022, titled ‘Zenith Bank grows gross earnings by 24 per cent to N945.5bn in 2022’.
As part of its commitment to shareholders, the…
The Central Bank of Nigeria has barred banks and other financial institutions seeking a conversion licence from expanding or reducing their current banking network in its new draft guidelines.
The CBN discloses this in a circular tagged ‘FPR/DIR/PUB/CIR/001/072’ to banks…
War between Russia and Ukraine should increase food production in Africa - Osinbajo
March 29, 2023
Vice President Yemi Osinbajo, on Monday in London, United Kingdom said the lingering crisis between Russia and Ukraine should be a wake-up call for African states to prioritise self-sufficiency in food production.
He also said digitisation remains Africa’s best opportunity…
The House of Representatives, on Tuesday, approved the request by the Federal Government to borrow $973,474,971.38 from China Development Bank.
This followed the decision by the China-Exim Bank to reject Nigeria’s $22,798,446,773 loan request earlier approved by the National Assembly.
The Chairman of the House Committee on Rules and Business, Abubakar Fulata, moved a motion for the legislative…