Dangote Flour Mills Returns to Profitability

Dangote Flour Mills at the weekend reported a Profit Before Tax of N2.64 billion for the half year ended June 30, after its re-acquisition from Tiger Branded Consumer Goods. A…

Licensing of IMTOs On-going, Says CBN

The Central Bank of Nigeria (CBN) has said it has not foreclosed the licencing of interested players in the IMTO space in Nigeria. Acting Director, Corporate Communications of the CBN,…

SEC: Registrars to Stop Issuing Dividend Warrants by June 30, 2017

The Director-General of Securities and Exchange Commission (SEC) Mounir Gwarzo has said as from June 30, 2017, all registered registrars in the capital market will stop issuing dividend warrants to…

Amid Drop in Earnings, Zenith Bank Declares 25Kobo Interim Dividend

The 2016 second quarter financial statement of Zenith Bank Plc was eventually released on Thursday with a 25 kobo interim dividend for shareholders. The interim dividend is a repeat of…

South Africa Overtakes Nigeria as Largest Economy

South Africa’s economy has regained the position of Africa’s largest in dollar terms more than two years after losing it to Nigeria as the value of the nations’ currencies moved…

CBN Debunks Concessionary Forex Rate for Hajj Pilgrims

The Central Bank of Nigeria has debunked claims in certain quarters suggesting that prospective pilgrims have been granted concessionary foreign exchange rate for the 2016 pilgrimage. This was contained in…

No Fuel Price Hike, Says NNPC

The Group Managing Director of the Nigerian National Petroleum Corporation, Dr. Maikanti Baru, has dismissed reports that the corporation will soon announce an increase in the pump price of Premium…

Naira May Rebound as Banks Begin Sale of Forex to BDCs

Naira, Nigeria’s currency may soon be on the rebound as banks began moves to sell foreign exchange to Bureau De Change (BDC) operators. The News Agency of Nigeria (NAN) reports…

Buhari Saves MTN from Bankruptcy, Says Communications Minister Adebayo

The Minister of Communication, Chief Adebayo Shittu, has said telecommunications giant MTN escaped bankruptcy through the intervention of President Muhammadu Buhari, who reduced the fine imposed on the South African company…