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Business & Finance

Dangote Cement releases impressive result for Q4-17, proposes N10.50 dividend

The management of Dangote Cement Plc has released its 2017 Full Year results showing group revenue stood at N805.6 billion (+31%  as against 2016) and Profit After Tax (PAT) of N204.3 billion (+43% as against 2016) are behind Bloomberg consensus’ N810.4 billion and N249.9 billion, respectively. EBITDA anchored at N388.2 billion, +51% as against the 2016 figure, and ahead of ... Read More »

Skills acquisition: NPA MD advocates vocational training for youth, bags award

Managing Director of Nigerian Ports Authority, Queen Hadiza Bala Usman, has advocated the provision of adequate vocational training for the youths of Nigeria by all tiers of government in order to equip them with skills needed for gainful employment, T & T News reports. Usman, who bagged an ‘Award for outstanding Leadership in Public Sector Transparency and Open budget System’ also ... Read More »

Octopus: Heritage Bank attains ISO 27001 Information Security Management Certification

Heritage Bank Plc, Nigeria’s most innovative banking service provider, has achieved the Information Security Management Certification from International Standards Organisation (ISO). This certification, also known as the ISO 27001: 2013, is part of the ISO 27000 family of standards, which helps organisations keep information assets secure. The certification was achieved on the heels of the bank’s drive to revolutionalise the ... Read More »

NAMA to automate Aeronautical Information Service

…installs CAT III ILS in Lagos/Abuja  The Nigerian Airspace Management Agency (NAMA) has assured airlines and the flying public of its commitment to boost navigational aids and surveillance at the nation’s airports. Critical among the projects the agency has promised to execute in a near future is the automation of Aeronautical Information Service (AIS), a project that was initiated since ... Read More »

Maritime sector has capacity to catalyse economic growth – NIMASA DG

The Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside, has said that the Nigerian maritime sector has the capacity to catalyse current efforts targeted at growing the nation’s economy. This is even as he restated the agency’s commitment to building a robust maritime sector that will substantially contribute to the Gross Domestic Product (GDP) of ... Read More »

2017: Bank customers dip by 2.2m amid BVN registration upswing

Indications that poverty level in the country has not abated despite the modest recovery of the economy have emerged with the number of bank customers dropping significantly in 2017 from the depositors’ number in 2016. Data obtained from the Nigeria Inter-Bank Settlement System’s, NIBSS’, showed that the total number of bank customers dropped from 61 million in 2016 to 59 ... Read More »

IMF urges CBN to watch rising banks’ risk portfolios

The International Monetary Fund (IMF) has cautioned against rising risks in the banking sector with banks’ borrowings rising over N2.496 trillion from Central Bank of Nigeria (CBN) in the last three months of last year. Data obtained from the apex bank on the inter-bank fund’s segment at the weekend, showed that weighted average interbank call rate which stood at 18.45 ... Read More »

Panic sell-off slips investors’ value by N31bn in 3 days

The benchmark indices of equity trading on the floor of Nigerian Stock Exchange (NSE) Thursday continued to maintain negative stance as investors embarked on massive sell-off, trimming down investors’ net-worth by N31 billion. It was noted that the nation’s bourse commenced trading for the week on a somewhat sluggish note and given the outlook so far, the stock market is ... Read More »

FAAN vows to checkmate drug peddling through Nigerian airports

…to replace scanning facilities In adherence to the International Air Transport Association’s ban on toxic materials and the criminality of drug peddling through airports by unsuspecting passengers, the Federal Airports Authority of Nigeria (FAAN) has vowed to tighten all loose ends at the nation’s international airports to checkmate such incidences. The Managing Director, Engr. Saleh Dunoma, FAAN, told members of ... Read More »

GTBank declares N200bn profit for 2017

Guaranty Trust Bank has released its audited financial results for the year ended December 31, 2017, to the Nigerian and London Stock Exchanges, which shows that Profit Before Tax stood at N200.2 billion, representing a growth of 21.3 per cent over N165.1 billion recorded in the year ended December, 2016. A review of the results shows gross earnings for the ... Read More »