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Banking/Investments

Ecobank writes off N221.7b loan, posts N50b loss upon resilient performance

ecobank-logo

Ecobank Transnational Incorporated (ETI), has announced the cleanup of its books of non-performing loans, by making a provision of N221.7 billion in its 2016 audited accounts. The results released on the floor of the Nigerian Stock Exchange (NSE) on April 18, showed that the bank recorded a growth of 22.3 per cent in gross earnings to N665 billion in 2016, ...

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Ethiopian Airbus that landed first after runway repairs diverted from Kaduna, risky after all

Ethiopian airline land

More details have emerged showing that the celebrated Ethiopian Airbus A350-900 was not originally Abuja bound from Addis Ababa but was diverted midair without prior notice to passengers. Aviation analysts who barred their mind on the development said the scenario was a misnomer and abuse of aviation safety standard. The diversion angle of the flight was revealed by one of ...

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CBN moves to boost forex liquidity, improve access to SMEs and retail businesses to forex.

smes logo

Relying on the introduction of the use of Form X, for the Small and Medium-scale Enterprises (SMEs) seeking to purchase foreign exchange from the Central Bank of Nigeria (CBN), analysts are upbeat that that the policy will grow  the activities of the subsector. At first, the apex bank said the decision was part of its commitment to increase forex liquidity ...

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Ghana’s Diaspora remittances hit $2b as Nigeria’s gross to $37b in March

FIRS

Latest statistics has shown that more Africans are experiencing rising capital injection by way of diaspora remittances but Nigeria has maintained lead over the years, emitting over $37 billion back to the country between last year and March 2017. This is as remittances by Ghanaians in Diaspora have assumed a significant component of Ghana’s economy. Statistics from Ghana Revenue Authority ...

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Trump win fingered as reason why FG may have abandoned Yuan deal one year after

Nig China Rel

Analysts in international diplomacy and currency logistics are still divided on why the federal government apparently abandoned its highly publicized currency swap agreement between it and China one year after. One year after the agreement was signed, nothing much has been heard about it. But more pundits argue that the emergence of President Donald Trump in US elections seems to ...

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Bridging infrastructure gap, best antidote to sustainable economic recovery—PwC

Udoma, Buhari, Adeosun

Contrary to plans by the federal government to implement the newly launched Economic Recovery and Growth Plan (ERGP) using a taskforce, PriceWaterCoopers (PwC) has suggested effective bridging of identified infrastructural gap in various value-chains as better strategy to drive recovery. New report by PwC on promoting economic prosperity through an analysis of the state level business environment in Nigeria showed ...

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FG mute on Ikoyi $43m, shifts attention to how looters bury stolen funds in cemeteries, forests

EFCC Ikoyi home

Not up to one week after the Ikoyi House $43 million dollar recovery by the anti graft agency, latest strategy used by looters of public funds has emerged. But in a statement on Sunday, the Federal Government smartly shielded comments away from the trending puzzle of who owns the cash, and diverted attention by informing Nigerians that anti corruption agencies ...

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Hosting AMAA by NIMASA waste of resources as there is no hub to boost—BH Report

Imo Nimasa

Contrary to the claims of the Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside that hosting of the Association of African Maritime Administrations (AAMA) 2017 conference will boost Nigeria’s quest of becoming maritime hub and destination for the West and Central African region, findings by Business Hilights Economic Research Team (BHERT) have proved otherwise. ...

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Ogbanago, UBA staff who returned $10,000 forgotten by customer, now millionaire

UBA Awards

After 10 months, the pan-African financial services group, United Bank for Africa (UBA) Plc, has celebrated its staff, Ibrahim Ogbanago, a security man with the Oba Akran branch of the bank for returning $10,000 belonging to a customer who forgot the money in the branch last July. Ogbanago earns less than N2m as annual salary. His celebration was part of ...

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FCMB drills students on savings, financial management techniques

FCMB logo

As part of First City Monument Bank’s (FCMB) Limited commitment towards securing the future of young Nigerians by way of growing their savings and financial inclusion understanding, it has concluded training for students of 30 secondary schools in Nigeria. The training was part of FCMB’s activities to commemorate the 2017 Global Money Week and Financial Literacy Day celebration, with the ...

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