UBA’s profit rose to N153bn in 2021 – Report

United Bank for Africa Plc said it recorded N153bn profit for the 2021 financial year ended December 31, 2021. This was disclosed in a statement, titled ‘UBA delivers N153bn profit, records 11 per cent balance sheet growth’, and filed by…

Ukraine invasion: Over 8,000 staff affected as KPMG, PwC suspend operations in Russia

PricewaterhouseCoopers (PwC) and KPMG International Limited have announced plans to exit Russia after 30 years of doing business in the country amid the invasion of Ukraine. In separate statements on Sunday, PwC said its Russian business with its 3,700 partners and…

NNPC moves to acquire FG’s power plants, meets BPE

The NNPC’s Group Managing Director, Mele Kyari, disclosed this when he led the management team of the oil company on a courtesy visit to the Bureau of Public Enterprises in Abuja, according to a statement by the BPE issued in…

‘There’s no cancellation’ — Seplat Energy says ExxonMobil deal still intact

Seplat Energy Plc says its deal with ExxonMobil Corporation is valid and subsisting. Seplat Energy responded to media reports which claimed the Nigerian National Petroleum Company (NNPC) Limited had exercised a right of pre-emption under the NNPC/Mobil Producing Nigeria Unlimited…

Press Release – FirstBank Partners with CDC/BII to Support Women and Small Business Owners with a US$100 million Credit Facility

Facility to strengthen FirstBank’s commitment to gender financing with US$30 million targeted to women-owned and led businesses. Partnership will enhance funding to local SMEs to boost growth and promote financial and social inclusion across Nigeria The facility adds US$100 million…

CBA FOUNDATION LAUNCHES SOCIAL ENTERPRISE INITIATIVE TO TAKE INTERVENTION AMONG UNDERPRIVILEGED WIDOWS TO NEXT LEVEL

If indications from two separate but related events that were held last December are anything to go by, then one of Nigeria’s most vulnerable groups may be on the verge of experiencing better times. The events, hosted in two separate…

Ukraine: US bans transactions with Russian central bank

The United States on Monday banned all US transactions with Russia’s central bank effective immediately, the Treasury Department said as it unveiled an unprecedented sanction to further punish Moscow for invading Ukraine. “This action effectively immobilizes any assets of the Central…

Seplat’s full-year profit leaps 253% amid post-Covid oil boom

Seplat’s revenue, 84.3 per cent of which came from crude oil sales, grew by over a half to N293.6 billion. Nigeria’s biggest oil and gas company by market value Seplat Energy saw its net profit accelerate by 252.8 per cent in 2021…

Kyari: IOCs divesting from Nigeria because of net-zero commitments

Mele Kyari, group managing director, Nigerian National Petroleum Company (NNPC) Limited, says international oil companies (IOCs) are not withdrawing investments from Nigeria’s oil industry because of a lack of opportunities. Kyari said they are divesting to meet net-zero commitment as…

In a show of tenacity, Zenith Bank surpasses market expectations with double-digit growth in gross earnings

Zenith Bank has continued to distinguish itself in the Nigerian financial services industry through superior service offerings, unique customer experience and sound financial indices. Zenith Bank plc has announced an impressive result for the year ended December 31, 2021, recording a…