World Bank has said developing counties including Nigeria have huge investment needs due to their inadequate infrastructure and other challenges.
As such, the Washington-based lender called on policymakers to create an environment conducive for investment and devoid of corruption.
The World Bank Group President, David Malpass, said these on Thursday in Niamey, Niger Republic as he delivered a…
United Bank for Africa on Thursday said it recorded N201bn profit before tax in its 2022 financial period.
The bank disclosed this in a statement on its audited financial results for the full year ended December 31, 2022, titled, ‘Full year 2022: UBA delivers strong…
First Bank of Nigeria Limited has announced a phased corporate name change for its subsidiaries in the United Kingdom and Sub-Saharan Africa.
The bank disclosed this in a statement by the Group Head, Marketing & Corporate Communications, First Bank, Folake Ani-Mumuney…
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…
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.
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…
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 and other financial institutions, which was titled ‘Regulatory guidelines for change of operational licence for banks and…
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…
Banks’ credits to the government rose by N3.77tn in the first two months of 2023.
Figures obtained from the Central Bank of Nigeria revealed that the total government credit which ended December 2022 at N24.66tn rose to N28.43tn as of the end of February 2023.
The CBN disclosed in its ‘Money and credit statistics’ report that the credit rose from N14.9tn as of the end of January 2022 to…