Yemisi Izuora Zenith Bank Plc has recorded a remarkable triple-digit growth of 114% from N620.6 billion reported in Q3 2022 to N1.33 trillion in Q3 2023. This performance demonstrates the Group’s resilience and strong market share despite a very challenging macroeconomic environment. According to the bank’s unaudited third quarter financial results presented to the Nigerian Exchange (NGX), the triple-digit growth in the topline also enhanced the bottom line, as the Group recorded a 149% Year on Year (YoY) increase in profit before tax, growing from N202.5 billion in Q3 2022 to N505 billion in Q3 2023. Profit after…
Author: Orientalnews Staff
Yemisi Izuora Fidelity Bank Plc’s leadership in the exports space has once again been reaffirmed with the bank’s emergence as the Export Finance Bank of the Year at the BusinessDay and Other Financial Institutions’(BAFI) Awards 2023. The bank was presented the award at a prestigious dinner event held on Saturday, 28 October 2023 at Lagos Continental Hotel, Victoria Island, Lagos. “The BAFI Awards is the benchmark of distinction for institutions in the Nigerian financial services sector. Now in its 10th year, the awards recognises and celebrates organisations that excel in the delivery of financial services in Nigeria,” read…
Yemisi Izuora The Commerce and Industry Correspondents Association of Nigeria ( CICAN), is set to host the “2023 CICAN Workshop and Award ceremony”, with the theme “Tax policy reforms and effects on Nigeria’s business” on Tuesday 21st, November 2023. This is contained in a statement jointly signed by National Chairman, Charles Okonji and the Event’s Chairperson, Princess Funmi Adeoye and made available to the media over the weekend. The statement disclosed that the event will take place at Namdi Azikiwe Hall, 2nd floor, Radisson Blu Hotel, 38 – 40 , Isaac John Street, GRA, Ikeja beginning from 11am. The…
Yemisi Izuora The Director, Eagle Newsmedia Limited, Ambassador. Olufemi Ajadi, has called on the federal government to improve on the ease of doing business, noting that many broadcast companies are finding it extremely difficult to do business in the country. He stated this at the Christian Youths in Politics (CYP) international peace conference tagged “A salute to peaceful coexistence in the country” said the broadcast industry has made a lot of contributions to national development, but faces a number of challenges such as exchange rate issues, bad economy, poor facilities and ownership structure. He noted that the unfavorable exchange…
Yemisi Izuora The Lagos State Internal Revenue Service (LIRS) has shut 34 corporate organizations for failing to remit Personal Income Taxes, PIT, of their employees and for non-remittance of Consumption Taxes by operators in the hospitality sector to the Lagos State Government. The tax liabilities of these companies and hotels amounted to more than N356.12 million. Some of these companies include NTS Nigeria Ltd., Med-In Hospital & Pharma Services Ltd., Danvic Petroleum Int’l Ltd., Business Intelligence Technology, Avaya Nigeria Ltd., Gladstone Tech Ltd., Courier Plus Services Ltd., Kurioucity Ltd., Medilag Ventures Ltd., Future Oilfields, and Seven Six &…
Yemisi Izuora Airtel Africa has continued to consolidate financial performance maintaining leading position in the industry despite uncertainties surrounding foreign exchange supply which has unbalanced economies of the continent especially Nigeria. Giving update on the company’s performance, Olusegun Ogunsanya, Group Chief Executive Officer, GCEO, said, “I am pleased to report a strong operating performance for the Group despite foreign exchange headwinds in many of our markets and specifically in Nigeria. The resilient growth in voice, data and mobile money usage levels reflects the inherent demand for these essential services across our footprint, and our six-pillar ‘win-with’ strategy continues to…
Yemisi Izuora Access Bank Plc, has partnered the African Export-Import Bank (Afreximbank) to support and finance key trade-enabling projects in Lagos State to the tune of $1.352 Billion. An agreement to that effect which took place on the sidelines of the 2023 AfriCaribbean Trade and Investment Forum in Georgetown, Guyana, had in attendance key delegates including the Executive Governor of Lagos State, Babajide Sanwo-Olu; Group Chief Executive Officer of Access Bank PLC, Herbert Wigwe; Benedict Oramah, President and Chairman of the Board of Directors, Afreximbank, and more. Herbert Wigwe, Group Chief Executive Officer of Access Holdings Plc, said, “This…
Yemisi Izuora Africa’s Global Bank, United Bank for Africa (UBA) Plc, has again announced a splendid performance in its unaudited financial results for the third quarter ended September 30, 2023, recording impressive growth across all key performance metrics. Replicating the remarkable performance achieved in the first two quarters of the current fiscal year, the bank’s gross earnings grew by 115.2 per cent to N1.309 trillion up from N608bn recorded last year, while operating income rose by 146 per cent from N414 billion in September 2022; to N1.018 trillion in the year under consideration. The bank’s financial report…
Yemisi Izuora The Nigerian Maritime Administration and Safety Agency (NIMASA) is hosting a 3-day Biofouling Management Training for coastal states within the African continent. The exercise is considered part of efforts to explore the newest technologies in Biofouling and in compliance to International Maritime Organization (IMO) rules. Speaking at the opening session on Monday, the Director General, DG, of NIMASA, Bashir Jamoh posited that the training would showcase the newest technologies, their application including cost-effective practices and related benefits for the environment and efficiency of shipping He said: “The importance of protecting and conserving our seas, oceans and their…
Richard Ginika Izuora Nigeria in October led oil in production output among member countries within the Organization of the Petroleum Exporting Countries, OPEC. The OPEC oil output rose for a third straight month in October, led by increases in Nigeria and Angola and despite ongoing cuts by Saudi Arabia and other members of the wider OPEC+ alliance to support the market. The Organization pumped 27.90 million barrels per day (bpd), Reuters survey found, up by 180,000 bpd from September. Production in August had risen for the first time since February. October’s rise was led by Nigeria, which has seen…