Economy Archives — Page 154 of 258

November 1, 2022 No Responses

Reps Panel Accuses Oil Firms Of Tax Evasion

The House of Representatives ad hoc committee investigating the structure and accountability of the Joint Venture (JV) businesses and production sharing contracts (PSCS) of the Nigerian Petroleum Corporation (NNPC) has accused oil companies of tax evasion. The Chairman of the...

October 30, 2022 No Responses

Expert Tasks Bankers On Infrastructure Funding

An infrastructure specialist, Mr Opuiyo Oforiokuma, has urged bankers to come up with a plan to fund infrastructure in Nigeria. Oforiokuma, a Senior Partner at Africa50 Infrastructure Acceleration Fund, gave the advice at the 2022 Fellowship Investiture ...

October 29, 2022 No Responses

Investors Lose N388b On NGX

The Nigerian Exchange Ltd. (NGX) declined further on Friday as market capitalisation depreciated by N388 billion or 1.6 per cent to close at N23.918 trillion from N24.306 trillion on Thursday. Also, the All-Share Index (ASI) fell by 712.54 points or...

October 29, 2022 No Responses

Naira Weakens Further To Dollar At Investors, Exporters Window

The Naira on Friday exchanged at N444.75 to the dollar at the Investors and Exporters window, a depreciation of 0.06 percent, compared with N444.50 to the dollar it exchanged on Thursday. The open indicative rate closed at N443 to the...

October 28, 2022 No Responses

Conoil Shareholders Get N1.7b Dividend For 2021

Shareholders of Conoil Plc, at the weekend, unanimously approved the proposed final dividend payout of N1.734 billion, which translates to N2.50 per share, for the 2021 financial year. The dividend payment ratified at the company’s 52nd Annual General...

October 28, 2022 No Responses

Union Bank Wins Global Finance Award For Best SME Bank

Union Bank of Nigeria has been named as the Best Small and Medium Enterprises (SME) bank in Nigeria by Global Finance – a leading financial international publication, in its second annual 2023 SME Bank Awards. A statement sent to...

October 28, 2022 No Responses

Edo Concessions Okomu South, Gele-Gele Forest Reserves

The Edo State Government has signed a 30-year conservation/eco-tourism concession with Africa Nature Investors (ANI) Foundation as part of measures to protect endangered forest elephants, white-throated monkeys and the farming population, among others in the O...

October 28, 2022 No Responses

Q3: Unity Bank Declares N2.2b Profit

Unity Bank Plc has declared a N2.2 billion profit for the nine-month period ended September 30, 2022, with 17% growth in gross earnings to N42.2 billion for the same period, as against N36.2 billion in the corresponding period of 2021....

October 28, 2022 No Responses

TotalEnergies Attains $9.9b Income In Q3

French-headquartered energy giant TotalEnergies has strengthened its balance sheet and doubled its profit in the third quarter (Q3) of 2022 on a year-on-year basis, driven by its LNG business and higher gas prices due to the Ukraine crisis. &nb...

October 28, 2022 No Responses

Emefiele To Risks Managers: Remain Vigilant, Deal With Complex Risks

Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has urged risks managers to be vigilant in order to deal with the complex risks the country is currently facing. Emefiele gave the advice at the 2nd National Risk Management Conference,.....

October 28, 2022 No Responses

FBN Holdings Declares N91.2b Profit In Q3

For the third quarter ended September 30, 2021, FBN Holdings (FBNH) Plc has declared a profit after tax (PAT) of N91.2 billion, amounting to a growth of 123.6 per cent when compared with N40.8 billion achieved in the comparative period of...

October 27, 2022 No Responses

Grimaldi Secures Order For Five Car Truck Carriers

The Italian shipping company Grimaldi Group has signed an order for the construction of five new Pure Car Truck Carriers (PCTCs) with China Merchants Heavy Industries Jiangsu, which is part of China Merchant Industry Holdings. According to World Maritime ...

October 27, 2022 No Responses

FIRS Begins Direct Collection Of Taxes From Online Gaming Operators

The Federal Inland Revenue Service (FIRS) has commenced the deduction of taxes at transaction points from Online Gaming Transactions using the Sentinal National Payment Gateway and Electronic Solution. In a Public Notice signed by its E...

October 27, 2022 No Responses

EFCC Hails CBN’s Move To Clampdown On Currency Hoarders

The Economic and Financial Crimes Commission (EFCC) has applauded the move by the Central Bank of Nigeria (CBN) to redesign and reissue higher denominations of the Nigerian currency, the Naira. The CBN Governor, Godwin Emefiele, on Wednesday announced th...