Innoson Move To Take Over Guaranteed Trust Bank Over The Bank’s N8.7 billion Indebtedness

Innoson Nigeria Limited, Nigeria’s indigenous vehicle production company, has instituted a move to take over Guaranteed Trust Bank, GTB, following a ruling by the Supreme Court over the bank’s N8.7 billion indebtedness to the company. The company’s chairman, Chief Dr. Innocent Chukwuma, made the move through a “Writ of FiFa taken over Guaranty Trust Bank PLC for and on half of Innoson Nigeria Ltd” as a result of the Bank’s indebtedness to Innoson Nigeria Ltd.

Read More

Barriers To Trade Have Kept African Economies In Silos Of Underperformance… Oramah

Professor Benedict Oramah, President, of the Africa Export-Import (Afrexim) Bank, has said that Africa is making gradual progress compared to two decades ago. Oramah noted, not only have the trade walls prevented economic growth, but they have also led to a social distancing of people and cultures.  Presenting a keynote paper at the 4th edition of the Centre for Financial Journalism’s Bullion Lectures in Lagos, Oramah said that Africa is becoming the “bread basket” of the world from the “basket case” hitherto associated with it. But to make further progress “Africa…

Read More

Access Bank Plc. Declares N95bn Profit For 2018

Access Bank Plc said it will pay a final dividend of 25 kobos for every unit of share, bringing the total dividend for the financial year ended December 31, 2018, to 50 kobos per share. More so, Profit before tax jumped from N78.1 billion in 2017 to N103 billion in 2018. Profit after tax rose from N60 billion in 2017 to N94 billion in 2018. Earnings per share rose from N2.11 in 2017 to N3.31 in 2018.

Read More

UBA Earnings Hits N494.0bn, Records Significant Asset Growth, Driven By Market Share Gains Across Africa… …Records Profit of N106.8 Billion

The Pan-African financial institution, United Bank for Africa Plc has announced its Audited 2018 Financial Results with impressive growths achieved across major financial lines.  According to the 2018 financials filed at the Nigerian Stock Exchange on Tuesday, Africa’s global bank’s gross earnings grew by 7.0 percent to N494.0 billion, compared to N461.6 billion recorded in the corresponding period of 2017. The Bank’s total assets also grew significantly by 19.7 percent to an unprecedented N4.9 trillion for the year under review. These results, according to financial analysts largely demonstrate the benefits of the Group’s…

Read More

Ihedioha Warned Banks To Stop New Transactions With Out-Going Governor Rochas Okorocha…

Emeka Ihedioha, Imo Governor-elect has warned banks and other financial institutions against illegal dealings with out-going governor Rochas Okorocha. He warned financial institutions to stop new transactions with the state government or do so at their own peril.  Ihedioha said this at a media interaction at his residence in Owerri, the Imo State capital. The governor-elect warned that Okorocha could be plotting dirty deals with the financial institution to siphon state funds before the May 29 handover. He said new transactions would increase chances of illegal activities and jeopardize the financial…

Read More

SAHCO PARTNERS ABX WORLD TO PROMOTE Farmers Hitch-Free Export Opportunity In Nigeria

Skyway Aviation Handling Company PLC (SAHCO) has reiterated its commitment to ensuring farmers have a hitch-free export opportunity in Nigeria through the provision of world-class storage facilities and logistics support for farmers and exporters. The Managing Director/CEO of SAHCO PLC Mr. Basil Agboarumi stated this during a Forum with ABX World and Agro Allied solutions team at the company’s Corporate Headquarters in Lagos. According to him, ‘SAHCO PLC has one of the best warehouses in Africa and the best in West Africa. SAHCO has invested so much on equipment. In…

Read More

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

NOVA Merchant Bank Limited declared a profit after tax of N1.15bn for the year ended 31st of December 2018, an increase from N510.6m in 2017, as it begins to reap the benefits of its investments in its operations, technology and people. This impressive result demonstrates the Bank’s growth trajectory which is expected to accelerate as it scales its business and grows its client base. It achieved strong growth across all parameters. The Bank recorded a 54.10% growth in gross earnings from N1.22bn in 2017 to N1.88bn, grew profit after tax…

Read More

NAHCo To Invest N3.6B On Ground Handling Equipment This Year

Nigerian Aviation Handling Company (NAHCo) Promise to retain old customers, attract new clients with excellent service. NAHCo also fashion out five years strategic plan, says ongoing restructuring will not lead to loss of jobs. The Nigerian Aviation Handling Company (NAHCo) Aviance, the leading ground handling company in Nigeria has stated that by the end of the year it would have invested N3.6 billion in equipment to maintain its leading position in the business. This is just as the ground handlers said it has spent N1.9 billion also on equipment in…

Read More

A Nigerian And Delta Air Line Passenger Dies On Board Flight DL54

A Nigerian and Delta Air Line passenger, Micheal Ijadunmi, age 65 died on board the airline’s Flight DL54 en route Atlanta to Lagos.  A Nigerian passenger who flew from Atlanta, United States died few hours to landing at the Murtala Muhammed International Airport, Lagos, aboard Delta Air Lines. Sources said the passenger whose identity is not known had a terminal disease and was only coming home to spend the rest of his life before he died. His death caused some delays as the passengers had to wait for about two…

Read More

Qatar Airways To Increase Weekly Flights To South Africa

Qatar Airways has stated that it would increase the number of weekly flights on its popular routes to South Africa from July 2019. Weekly flight frequencies to Johannesburg, South Africa’s largest metropolis, will increase from 14 to 18 from July, rising to 19 in August. Additional two flights will be added to the airline’s winter schedule, taking the total number of weekly frequencies to 21 by the end of October 2019. In addition, passengers hoping to soak up some sun on some of South Africa’s most beautiful scenic beaches will…

Read More