Oando grows half year revenue to N2.1trn
Oando Plc has recorded a 20 per cent increase in revenue to N2.1 trillion for the half-year ended June 30, driven by higher crude oil production, improved operational efficiency and cost optimisation.
Why public insurance coys declare losses, by shareholders
It is obvious that the publicly owned insurance companies have continued to declare losses compared to the privately owned who usually declare profit. Shareholders are eager to know the cause and thereby demand that it should be part of board and management of some of the insurance companies
Top 10 performing stocks
FIDSON Healthcare Plc led last week on the league of top 10 performing stocks, rising by 13.67 per cent or N0.41 to close at N3.41 from N3.00 per share. Dangote Sugar Refinery followed with 8.29 per cent or N0.53 appreciation, closing at N6.92 from N6.39; Continental Reinsurance placed third, rising by 5.26 per cent or N0.05 to close at N1.00 from N0.95 per share.
Fidelity Bank Q3 gross earnings hit N106.6bn
Fidelity Bank Plc has reported an increase of 11.0 percent and 1.8 percent in its gross earnings and profit respectively for the nine months period ended September 30, 2015.
Uproar, as banks fail to link BVN to customers’ accounts
MILLIONS of bank customers were yesterday denied access to their bank accounts due to failure of banks to link their accounts to their Biometric Verification Number (BVN).
The new dimension to e-fraud
DEAR customer, due to the new BVN policy by the CBN your account has been deactivated and to reactivate, call……”
PET bottles recycling generates 1,800 jobs across value chains
PET bottles recycling, a new line of business which sprang from the foods and beverages industry currently generates about 1,800 jobs across value chains — pickers, collection centres and recycling plants. PET bottles are containers made of a hydrocarbon called PolyEthylene Terephthalate, or PET, for short.
Nigeria, Paris Club deal in significant reversal, as debt grows 200%
As the presidency gets ready to emplace the federal cabinet to face the daunting economic challenges figures from the Debt Management Office, DMO, of the federation has indicated a massive reversal of debt relief obtained nine years ago. An official of Central Bank of Nigeria, CBN, told Vanguard last weekend that foreign debt would hover around USD10.7 billion by end 2015, showing over 200 per cent up from USD3.5 billion recorded by the debt relief deal of 2006. DMO records show USD10.3 billion as at June this year.
Devalue Naira, remove subsidy and ‘kill’ Nigerians
IMF Africa Director, Mrs. Atoinette Sayeh recently noted at a press conference at a World Bank event in Lima, Peru, that “…those measures introduced by CBN to restrict demand and limit access to official foreign exchange for certain imports are quite detrimental to economic activities and invariably led to a lot of unhappiness in the private sector”.
Cadbury Nigeria: Out of the red, into the pink
Cadbury Nigeria has moved out of a net loss of N250.7 million in the second quarter into a profit level that keeps it on the edge of slipping off again. The beverage manufacturing company suffered a big profit slash last year and this year another major profit drop is keeping it swinging between profit and loss. The company returned to profit in 2010 after many years of sustained losses. It seems to have run out of the operating steam again that empowered its turnaround five years ago.
Union Bank: Sustaining growth with refreshed Identity
Profit before tax rose to N13.17 billion as against N11.89 billion recorded in comparable period of 2014 while profit after tax increased from N11.79 billion to N13.08 billion. Other highlights of the results showed that net operating income was up two per cent to N55.5 billion from N54.5 billion in Q3 2014. Total expenses were down by two per cent to N42.3 billion from N43.1 billion in the corresponding period in 2014.
