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Top Stories in Business
UBA Posts Impressive FY 2012 Results, Profits Soar by 905%
Sat May, 11 2013
Lagos, May 10, 2013 – United Bank for Africa (UBA) Plc today announced its audited financial results for the full year 2012 growing its profit figures by over 905% to close at N54.8billion from the N6.8billion loss it recorded in the previous year on account of loan provisioning that it did to clean up its balance sheet.
Jonathan To Lead Dangote, Otudeko And Others On Economic Mission
Sun May, 05 2013
President Goodluck Jonathan of Nigeria will on Monday lead a team of key members of Nigeria’s Economic Management Team to the World Economic Forum on Africa holding in Cape Town, South Africa.
Elumelu, Dangote Elected To CCA Board
Thu May, 02 2013
Following a vote by the Board of Directors late last year to admit indigenous African companies into its membership, Tony O. Elumelu, CON, Chairman of Heirs Holdings Limited, and Aliko Dangote, GCON, Chairman of the Dangote Group, have become the first African leaders of African companies to be elected to the Board of the Corporate Council on Africa (CCA).
Zenith Bank Lists On London Stock Exchange
Sat Mar, 23 2013
London Stock Exchange today welcomes Zenith Bank, one of Nigeria’s largest banks, to its Main Market. The company is listing Global Depository Receipts (GDRs) in London, giving the bank access to a wide range of major institutional investors and significantly raising its international profile. The company’s market capitalisation at listing was $4.24 billion.
AfDB Approves US $300-Million Loan to Nigeria
Fri Mar, 01 2013
ABIDJAN, Côte d’Ivoire, February 28, 2013/ -- The Board of Directors of the African Development Bank Group approved Wednesday in Abidjan, Côte d’Ivoire, a loan of US $300 million to finance the Transport Sector and Economic Governance Reform Program and the Nigeria Country Strategy Paper (CSP) for the period 2013-2017.
EFCC Quiz Ex-CBN Governor, Soludo, Over Currency Scam
Thu Jan, 10 2013
Charles Chukwuma Soludo, immediate past Governor of Nigeria's apex bank, Central Bank of Nigeria, CBN, has been arrested and quizzed by agents of Economic and Financial Crimes Commission (EFCC) over currency scam.
Shareholders Endorse New Commercial Banking Structure For UBA
Wed Dec, 19 2012
Lagos Nigeria; December 13, 2012: Shareholders of United Bank for Africa (UBA) Plc have approved the internal restructuring and reorganisation of the capital of the Bank and its members in compliance with the Central Bank of Nigeria (CBN)’s Regulation on the Scope of Banking Activities and Ancillary Matters, which repealed the universal banking model under which Nigerian banks hitherto operated.
Russian Firm, UC Rusal, Rejects Supreme Court Ruling On ALSCON
Tue Nov, 27 2012
The Russian company currently managing the Aluminium Smelter Company of Nigeria, ALSCON, has said it will not obey the Supreme Court ruling sacking it from the aluminium company as it was not a party to the suit.
BPE Certifies Manitoba Contract
Wed Nov, 21 2012
The Bureau of Public Procurement BPP has in the last hour issued a certificate of no objection for the twenty three million dollars contract awarded to Manitoba Hydro to manage the transmission company for the next three years BusinessDay can exclusively report.
FG Seeks $1.6bn Fresh External Loan
Wed Nov, 21 2012
President Goodluck Jonathan has sought a fresh external loan of $1.6 billion from foreign institutions. Jonathan, in a letter addressed to Senate President David Mark, said he was seeking amendments to the 2012-2014 Medium Term External Borrowing Plan.
Passenger Arrested With $320,000 At Lagos Airport
Wed Nov, 21 2012
In what seems to be a worrisome trend, another passenger has been arrested at the Murtala Muhammed International Airport, Lagos while trying to travel out of the country with $320,000.
Access Bank, Others Drive Shell’s N5bn Local Contractors Fund
Mon Nov, 05 2012
Development Company (SPDC) and five banks signed a Memorandum of Understanding (MoU) to create a $5 billion fund to ease access to loans by local contractors, Access Bank has expressed its preparedness to drive the scheme.
U.S., British Regulators Investigating Access Bank, Imoukhuede For Fraud
Tue Oct, 30 2012
Financial regulators in the United States of America and the United Kingdom are tightening the noose on Nigeria’s Access Bank and its flamboyant but controversial managing director, Aigboje Aig-Imoukhuede, over a series of questionable transactions.
Halliburton: $25million Plea-bargain Money Disappears
Sat Oct, 27 2012
Where is the $25million plea-bargain money paid by a multi-national company operating in the country and indicted in the monumental Halliburton scandal?
UBA Returns Impressive Third Quarter Result
Tue Oct, 16 2012
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