Business

Transcorp-Hillton-Hotel

Transcorp Hotels records 26% increase in 2018 turnover

The turnover grew from ₦13.8billion in 2017 to ₦17.4billion.

Lagos Trade Fair complex [Photo: New Mail Nigeria]

No plan to sell Lagos International Trade Fair Complex – BPE

The bureau says its plan is to concession the facility through a competitive transaction process.

Revenue House, Abuja [Photo: Legal Forms]

FIRS arraigns two firms, officials over alleged tax evasion, assault

Hearing in the matter has been scheduled for Thursday, March 21.

Palm Oil

Nigeria spends $500 million annually on palm oil importation – CBN

The CBN Governor regrets that the country is still importing palm oil in spite sufficient arable land.

Nigerian Stock Exchange Trading floor [Photo: blogs.cfr.org]

NSE: All-Share Index drops marginally by 0.06 per cent in cautious trading

The market capitalisation which opened at N11.613 trillion shed N6 billion to close at N11.607 trillion, following price loses.

OPEC

Oil slips on economic slowdown, as OPEC-led cuts still support

Crude markets remain broadly supported by supply cuts led by producer group OPEC and U.S. sanctions against Iran and Venezuela.

UBA

UBA’s earnings, profits grow in 2018

Despite the challenging business environments in Nigeria and across key markets in Africa, the bank’s Profit Before Tax was quite impressive at N106.8 billion, a 2.4 per cent growth.

AMCON

AMCON threatens to disengage partners unable to recover over N740bn assets

AMCON’s total eligible bank assets portfolio is put at about N3.7 trillion.

Naira notes used to illustrate the story.

Naira gains against dollar at investors window

The Nigerian currency exchanged at N360.18 to the dollar on Friday.

Access Bank building

Access Bank declares N95 billion profit for 2018

The profit after tax grew by 58 per cent compared to N60.07 billion recorded in the corresponding period of 2017.

Dr. Maikanti Baru

Nigeria has 41 billion barrels of untapped crude – NNPC GMD

Mr Baru said about 319 trillion standard cubic feet of gas is yet to be discovered in Sub-Saharan Africa.

dollars

Dollar set for biggest weekly drop in three months

For the week, it is set to weaken 0.7 per cent, its biggest drop since early December.

African Development Bank

AfDB to provide $25 bn to fight climate change

The bank currently provides 34 per cent of its overall lending portfolio to projects aiming to boost the fight against climate change.

Electricity Pole

GENCOs release 4,438 megawatts of electricity

The energy released by the companies was down by 4.82 megawatts from the figure delivered on Tuesday.

nigerian_stock_exchange

NSE market capitalisation shed N56 billion, amid blue chip loses

The All-Share Index shed 149.49 points to close at 31,210.79 compared to 31,360.28 achieved on Wednesday.

Aliko-Dangote-1062x598

Chevron, NNPC seal gas supply deal for Dangote fertiliser plant

Under the agreement, NNPC and CNL will supply 70 million standard cubic feet per day of natural gas to Dangote Fertiliser.

Central bank of Nigeria (CBN)

Nigeria’s Balance of Payments jumps by $2.80 million — CBN

$4.54 million was recorded in the third quarter of 2018.

Dino Melaye

Dollar may equal N500 in the next 60 days — Melaye

The Senate on Wednesday opened deliberations on the 2019 budget.

President Muhammadu Buhari

Buhari confirms two directors into NSIA board

NSIA’s allocates 50 percent of its future contributions to infrastructure investments.

A power transmission station in Kaduna state

GENCOs release 4,114 megawatts of power

The energy released by the companies was down by 92.47 megawatts from the figure delivered on Sunday.

Debris of crashed Ethiopian Airlines [Photo: Sky News]

‘Crashed Ethiopian airline may gulp $60m insurance claims’

The global insurance brokerage and risk management firm says it is the insurance broker for Ethiopian Airlines.

Nigeria Stock Exchange

Mixed earnings: Stock Exchange indicators maintain negative outlook

The market capitalisation nosedive by N120 billion to close at N11.677 trillion against N11.797 trillion on Monday.

Access Bank building

Access Bank reacts to ₦2.5bn fraud charges

The bank and its CEO are facing charges of conspiracy and stealing.

Nova Bank. [Photo credit: Official website of NOVA bank]

NOVA Merchant Bank Limited declares N1.15bn profit after tax

This is a significant increase from N510.6 million achieved in 2017, marking a 125 per cent increase.

Oil rig

Oil prices rise on ongoing OPEC-led supply cuts

OPEC to meet in April to appraise impact of output cut so far