Category: Business

ASCSN Flays Abuja Office Invasion By Bola-Audu, Others

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The Association of Senior Civil Servants of Nigeria (ASCSN) has said its office in Area 7 at the Federal Capital Territory, Abuja, was on Wednesday invaded by Bola-Audu Innocent and some other people believed to be thugs. In a press statement issued in Lagos, the ASCSN Secretary-General, Comrade Joshua Apcbo, stated that a detachment of police in Abuja was taking steps to clear the office of hoodlums. Bola-Audu Bola-Audu has been in court with the current leadership of the Association, laying claims to the position of the president. The statement…

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Groom’s Father Hires 100 Planes To Transport Guests To Son’s Wedding

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Indian billionare, Mukesh Ambani, has arranged a fleet of 100 planes, including three Falcon 2000 jets, to ensure guests arrive in style for Anant Ambani and Radhika Merchant’s wedding at Mumbai’s Jio World Convention Centre. The highly anticipated wedding of Anant Ambani, the youngest son of Mukesh Ambani, Asia’s richest man, to Radhika Merchant, daughter of businessman, Viren Merchant, is set to be a grand affair. Both families have already hosted several extravagant ceremonies attended by prominent figures from around the world, including business leaders, CEOs, political figures, celebrities, and…

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Ibile Launches Zakat, Sadaqah Foundation To Empower Muslims

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Dignitaries at the Ibile Muslim Community Zakat and Sadaqah Foundation public presentation on Saturday in Lagos.   The Ibile Muslim Community Zakat and Sadaqah Foundation was unveiled on Saturday to empower less privileged Muslims in Lagos and lift many others out of poverty. The foundation was launched at a public presentation sponsored by Lotus Bank in Lagos. According to the News Agency of Nigeria (NAN), the foundation is a new charitable organisation dedicated to promoting Zakat, Sadaqah, and Waqf to support those in need within the community. Zakat, the third…

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Q1’24: Fidelity Bank Records 120.1% Growth In PBT To N39.5bn

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In line with its upward growth trajectory, leading financial institution, Fidelity Bank Plc, has posted an impressive 120.1 per cent growth in Profit Before Tax from N17.9 billion at the end of Q1’23 to N39.5 billion for Q1’24. This was made known in the bank’s unaudited financial statements released on the issuer portal of the Nigerian Exchange (NGX) on Tuesday, April 30, 2024. According to the statement, Gross Earnings increased by 89.9 per cent yoy to N192.1 billion from N101.1 billion in Q1’23. The increase was led by a combination…

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Q1’24: Zenith Bank Posts 189% Growth In Earnings

JUSTINA EMMANUEL OKPARA

Zenith Bank Plc has posted an impressive triple-digit growth of 189 per cent in Gross Earnings, from N270 billion reported in Q1’23 to N781 billion in Q1’24, its unaudited results for the first quarter ended March 31, 2024 have shown. This is despite the challenging operating environment and tightening monetary policy stance. From the unaudited statement of account submitted to the Nigerian Exchange (NGX) on Friday, May 3, 2024, this impressive growth in the topline also enhanced the bottom line, as profit before tax (PBT) rose to N320 billion in…

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ASR Africa Begins Construction Of N250m Sports Complex In UniJos

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The Abdul Samad Rabiu Africa Initiative (ASR Africa), the philanthropic initiative of the Chairman of BUA Group, Abdul Samad Rabiu (CFR, CON), has kicked off the construction of the N250 million sports complex for the University of Jos. The sporting facility, which is situated at the Naraguta campus of the university, is set to consolidate the preparedness of the university in hosting the Nigerian Universities Games Association (NUGA). The facility will feature a 300-seater spectator stand, changing rooms, a lawn tennis court, and a basketball court. Speaking at the event,…

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Poverty: World Bank Places Nigeria At Par With War-Torn DRC

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…says inflation’ll remain high at 24.8% Despite the abundant human and natural resources in the country, the World Bank has placed Nigeria in the same position with war-torn Democratic Republic of Congo in its latest poverty index, according to a report released yesterday. The global lender, which reaffirmed that Nigeria’s economic growth would remain at 3.3 per cent in 2024, however, said the country’s inflation rate would remain high at 24.8 per cent year-on-year, YoY, in 2024. DRC, as at 2021 had a population of 95.894 million with an estimated…

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FirstBank Inaugurates ‘Digital Xperience Centre” At Banana Island

Gideon Myek

FirstBank of Nigeria on Wednesday inaugurated its “Digital Xperience Centre” at the Banana Island Front Gate, Ikoyi, Lagos. In his speech at the event, the Managing Director and Chief Executive Officer, FirstBank of Nigeria and subsidiaries, Dr. Adesola Adeduntan, who inaugurated the Centre, said it was the fourth such state-of-the-art facility in the country and the second in the state to be inaugurated by the bank. He said that the establishment of digital experience centres aligned with the bank’s commitment to delivering exceptional customer experiences and staying at the forefront…

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CBN Liquidates validated $7bn Forex Backlog

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The Central Bank of Nigeria has cleared all inherited valid foreign exchange backlogs of $7 billion claims, putting paid to backlog obligation inherited by the current Gpvernor, Mr Olayemi Cardoso. Acting Director, Corporate Communications, Mrs. Hakama Sidi Ali, confirmed clearance of the last leg of the obligation in a statement on Wednesday in Abuja. She noted that the CBN recently concluded the payment of $1.5 billion to settle obligations to bank customers, effectively settling the residual balance of the FX backlog. She also disclosed that independent auditors from Deloitte Consulting…

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GTCO Announces 2024 Food And Drink Festival

JUSTINA EMMANUEL OKPARA

  Guaranty Trust Holding Company Plc has announced the dates for the 2024 GTCO Food and Drink Festival. So also did the company announce the venue of the event in a statement it issued on Wednesday in Lagos State. The announcement marked the beginning of the process to the seventh edition of the most anticipated culinary festival in Africa. The event has been slated for April 26 to 28, 2024 at GTCentre, Plot 1, Water Corporation Drive, Oniru, Victoria Island, Lagos State. The GTCO Food and Drink Festival is widely…

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