The Financial Reporting Council of Nigeria (FRCN) on Thursday said the Central Bank of Nigeria (CBN) did not comply with the International Financial Reporting Standard (IFRS) in its 2011/2012 financial year report. The Executive Secretary of the FRC, Mr Jim Obazee, said this at the hearing to investigate the CBN on its activities for financial […]
Kayode Adelowokan, Lagos The Great Nigeria Insurance Plc has unveiled its new board members following the conclusion of it divestment process. At the Company’s 48th Annual General Meeting held in Lagos, the new Chairman, Tokunbo Talabi, in his maiden address assured the shareholders of the ‘board commitment to bringing to bear, their various wealth of […]
Kayode Adelowokan, Lagos The United Bank for Africa Plc (UBA) has notified the Nigeria Stock Exchange of the resignations of two Non-Executive Directors of the bank, who are, Emmanuel Nnorom, and Abdulkadir Bello. This is contained in a notice to the Exchange that in a letter dated March 25, 2014, signed by Bili Odum, group […]
Leading cement manufacturer, Dangote Cement Plc has declared its 2013 financials recording an upsurge in its Nigerian sales volume to the tune of 13.3million tonnes leading to a 40.6 per cent increase in profit before tax over the previous year. The company declared a profit before tax of N190.8 billion for the year. The audited […]
Kayode Adelowokan, Lagos Following the Tuesday’s strange fire that gutted the Lagos office of the Central Bank of Nigeria, the apex bank has assured its stakeholders and the general public that its records are intact. The fire incident, which started at about 5:10pm with thick smoke emanating from the first floor of the building after […]
Kayode Adelowokan, Lagos The Western Union Company (NYSE: WU), a leader in global payment services, and Ecobank Nigeria Ltd, an affiliate of Ecobank Transnational Incorporated (ETI), the leading financial services group in sub-Saharan Africa, has announced that customers can now conduct Western Union Account Based Money Transfer (ABMT) Services using any Ecobank Automated Teller Machines […]
…As Spending on Private Sector Ads Hits N125 Billion Kayode Adelowokan, Lagos The Association of Advertising Agencies of Nigeria (AAAN) has said that there is a positive correlation between the rates of investment in advertising and the growth of gross domestic product (GDP) in major markets. The Publicity Secretary of AAAN, Dr. Celey Okogun, disclosed […]
…Block Makers Commends Dangote Cement For Initiative Dangote Cement Plc has clarified that the reason for the introduction of the higher cement grade the 52.5N, was to offer consumers variety of choices in their quest for quality products. This is just as block makers commended the initiatives of the cement company in producing a higher […]
Kayode Adelowokan Following the threat by the Nigerian Electricity Regulatory Council (NERC) to sanction distribution companies for shoddy services to consumers, the Benin Electricity Distribution Company (BEDC) has said it would invest over N45 billion to fix power distribution challenges in order the improve the network and increase meter availability. Managing Director of the company, […]
Kayode Adelowokan, Lagos Guaranty Trust Bank plc has announced its audited financial results for the year ended December 31, 2013 to the Nigerian and London Stock Exchanges. A review of the results shows a strong and positive performance across all financial indices and also affirms the Bank’s position as one of the most profitable financial […]
Kayode Adelowokan, Lagos In furtherance to its enduring commitment to the development of Nigerian oil and gas industry, Atlantic Energy is yet again supporting this year’s edition of the Nigeria Oil & Gas (NOG) conference as a platinum sponsor for the 3rd consecutive year. The NOG is the largest oil & gas conference in sub-Saharan […]
Kayode Adelowokan Sovereign Trust Insurance Plc has paid a sum of N1, 716,526,202.91, (one billion, seven hundred and sixteen million, five hundred and twenty six thousand, two hundred and two naira, ninety-one kobo) as claims between January and December 2013. The Underwriting Firm recently released its 2013 claims record detailing the total claims paid between […]
By Kayode Adelowokan, Lagos Independent Shareholders Association of Nigeria (ISAN) has said that insurance Brokers in the country have done more harm to the credibility of the industry in the time past but lauded the policy of ‘No premium, No cover’ of the National Insurance Commission (NAICOM). ISAN General Secretary, Mr. Adebayo Adeleke, said this […]
The Central Bank of Nigeria (CBN) on Tuesday rolled out guidelines in respect of the end-to-end electronic payment of salaries, pensions, suppliers and taxes initiative in alignment with the care objectives of National Payment System Vision 2020. The objective of the payment system is to ensure availability of safe and effective mechanisms for conveniently making […]
Kayode Adelowokan, Lagos Guaranty Trust Bank plc has announced the start of its 2014 annual GTCrea8 Promo campaign for Nigerian undergraduates, an initiative aimed at rewarding the Bank’s customers studying in tertiary institutions across the nation. Explaining details of the campaign, the Bank’s Managing Director/CEO, Mr. Segun Agbaje, said the nine month initiative will provide […]
…Launches Higher Grade Of Cement, The First In Africa As the debate rages over the quality of cement produced in the country, leading manufacturers of the commodity, Dangote Cement Plc yesterday raised the bar further when it launched a much higher grade of the product, 52.5N into the Nigerian market. Group Managing Director of the […]
An ultra modern petroleum products tank farm, with capacity to store 45,280,000Litres of petroleum products, funded by First City Monument Bank (FCMB) Limited has been commissioned. The project, sponsored by Emadeb Energy Services Limited, was funded by the Bank as part of its contributions to the development of Nigeria’s oil and gas sector. It is […]
Kayode Adelowokan, Lagos The Nigerian Stock Exchange (NSE) has commenced the reduction of the cost of its Trade Alert Service by about N1.24 billion from March 2014. This will scrap the current charge of 0.6% of every trade on the exchange and introduce an enhanced notification system called X-Alert, which will be charged at a […]
Kayode Adelowokan, Lagos Ecobank Nigeria has projected Power sector funding of at least $5 billion per annum over the next five years starting from 2014. This is according to the bank’s policy to support the growth and development of the Power sector in Nigeria, being its own contribution to the sector’s transformation initiated by the […]
Kayode Adelowokan, Lagos Guaranty Trust Bank plc has begun preparations for its 4th annual Autism seminar with the themed: “On the road to future inclusion”, will take place from March 22nd to April 2nd, 2014. The bank said this in a press statement made available to African Examiner Newsonline on Wednesday, February 26, 2014, that the 4th […]
