CBN sets to reduce banks’ FX risk exposure
To tame the raging foreign exchange crisis and ultimately sanitize the money market, the Central Bank of Nigeria (CBN) is beaming its regulatory searchlight on banks, alerting them of growing…
‘$700m Remains Blocked’, Says IATA On Release Of Airlines’ Funds
The International Air Transport Association (IATA) has lauded the Central Bank of Nigeria (CBN) for releasing $ million in blocked airline funds. but said $700 million remains blocked in…
Transcorp Plc Grows Profit by 102% to N34bn
Transcorp Corp Plc posted a significant surge in earnings following a spike in revenue generated by the group in 2023. In its unaudited financial statement filed with the Nigerian Exchange,…
Fidelity Bank Posts Triple Earnings Growth in 2023
Fidelity Bank Plc has bolstered earnings performance as the top Tier-II lender grew profit by about 207 percent year on year, according to its recent unaudited financial statement filed with…
FG reiterates commitment to implement stringent measures in coming dry/wet season farming
Agric Minister In line with the directive of President Bola Ahmed Tinubu’s declaration of emergence on food security, the Hon. Minister, Federal Ministry of Agriculture and Food Security, Sen. Abubakar…
FX Backlog: CBN Concludes Payment of All Verified Claims By Airlines
The Central Bank of Nigeria (CBN), fulfilling its pledge to clear the backlog of foreign exchange owed to foreign airlines in the country, has concluded the payment of all verified…
Geregu records N83bn revenue as operating profit increases by 110%
Geregu Power Plc has released its 2023 audited financial statement, disclosing a year-on-year increase of 74 percent in revenue and a 110 percent growth in operating profit. The company’s board…
Wema Bank reports 104.7% profit growth in 2023
Wema Bank Plc has released its unaudited financial statement for the full year 2023, posting a pre-tax profit of billion, marking a percent growth from the billion recorded in full…
Toyota Suspends Shipments Of 10 Models On Testing Irregularities
Toyota said Monday it was suspending shipments of 10 models that use engines linked with testing irregularities at an affiliate company. The affiliate, Toyota Industries, did not conduct proper horsepower…
CBN Releases $500m To Clear More Verified FX Liabilities Backlog
The Central Bank of Nigeria (CBN) has released US$500 million to various sectors to further address the backlog of verified foreign exchange transactions. This comes barely a week after the…