Business News
Business and economic news from Nigeria and around the world.
Quick take: 9M earnings impressive despite weak Q3 performance
UBA recently released its 9M 2019 result wherein Interest income grew by 11% y/y to N297.9bn, albeit declined 13% q/q.
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Ghana’s Alomo Bitters loses $2 million to border closure
Manufacturer of Alomo Bitters, Kasapreko, has disclosed that it lost about $2 million in revenue as a result of the closure of Nigerian...
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Okomu Oil Palm ‘s profit declines by 43.22% as at Q3 2019
Okomu Oil Palm Plc has reported a 43.22% decrease in its profit after tax for the period ended 30 September...
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Royal Exchange’s profit dips by 187% in Q3 2019
Royal Exchange Plc has reported a 187% loss for the period ended 30 September 2019.
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Carbon to empower more start-ups with new platform
Carbon, one of Nigeria’s foremost digital financial services company, has launched a digital financial services platform, Carbon for Business.
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Defunct Savannah Bank not yet liquidated – NDIC clarifies
The MD/Chief Executive of NDIC, Alhaji Umaru Ibrahim, has clarified that the defunct Savannah Bank still has a license to operate...
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Nigeria’s External Reserves plunge to $40.3 billion as devaluation concerns brew
Nigeria’s External Reserves plunge to $40.03 billion as devaluation concerns brew
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FBN Holdings releases 9 months 2019 Results, PBT increased by 17% to N60 billion
FBN Holdings (FBNH) has posted its nine months unaudited results ended September 30, as it boosted its Profit after Tax by 15.3%.
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Savannah Petroleum secures $5 million initial tranche loan
Savannah Petroleum Plc has disclosed that it had obtained a $74 million unsecured loan facility.
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CBN disagrees with IMF, says land border closure boosting local production
The CBN has disagreed with the International Monetary Fund (IMF) on the impact of the closure of Nigerian land borders.
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