Zenith Bank’s Q1’24 gross revenue soars 189% to reach N781bn
Post AMUGE
4 hrs
Business a.m. Zenith Bank Plc has once again demonstrated its financial prowess with a remarkable triple-digit surge of 189 percent in gross earnings, rising from N270 billion in Q1 2023 to N781 billion in Q1 2024. A deeper dive into the company’s unaudited results for the first quarter ended 31st March 2024, reveals an impressive growth […]
Zenith Bank, AfCFTA ink agreement to deploy SMARTAfCFTA for Africa trade
Post AMUGE15 hrs
Business a.m. Zenpay Limited, a fully owned subsidiary of Zenith Bank Plc, and the African Continental Free Trade Area (AfCFTA) secretariat signed an agreement at the weekend that will lead to the development, launch and deployment of the SMARTAfCFTA portal designed to break down barriers, facilitate and bolster trade in Africa. Ebenezer Onyeagwu, chairman, Zenpay […]
CPPE sends SOS to CBN amidst 28 exchange rate tweaks in Q1 2024
Post AMUGE15 hrs
Onome Amuge The Central Bank of Nigeria’s (CBN’s) frenzied exchange rate adjustments, a total of 28 changes in the first quarter of 2024, have plunged Nigeria’s trade dynamics into a whirlpool of uncertainty, casting doubt over the nation’s economic future, according to the Centre for the Promotion of Private Enterprise (CPPE). The CPPE, regarded as […]
Afreximbank bets on gold as Africa’s economic safeguard
Post AMUGE15 hrs
Onome Amuge Amid the economic tumults African countries are facing, Afreximbank, the multilateral development finance institution, has fanned the flames of hope, urging them to seize the moment and fortify their reserves with the gleaming brilliance of gold, as the precious metal’s value soars in the face of global headwinds. The foremost African trade financing […]
Fidelity Bank positive Q1’24 results show PBT swells 120% to N39.5bn
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Nneka Onyeali-Ikpe, managing director/CEO, Fidelity Bank Plc Onome Amuge The first quarter 2024 numbers have come in for Fidelity Bank Plc, and they show the bank continuing its upward climb as profit before taxation (PBT) soared 120.1 percent to N39.5 billion from the N17.9 billion recorded for the same period in 2023. The positive performance […]
UBA sees 155% jump to N156.3bn PBT in Q1’24
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Oliver Alawuba, group managing director/CEO, United Bank for Africa Plc Onome Amuge UBA Group recently released its unaudited financial statements for Q1 2024, showcasing its financial resilience with an impressive 155 percent year-on-year surge in profit before taxation (PBT) to N156.3 billion from the N61.4 billion posted in Q1 2023. The impressive financial performance of […]
Access Holdings’ Q1’24 PAT tops 122.5% to reach N159bn
Post AMUGE15 hrs
Bolaji Agbede, acting group chief executive officer, Access Holdings Onome Amuge Access Holdings Plc, the Nigeria headquartered multinational financial services powerhouse, has reported an after-tax profit of N159.3 billion in the first quarter of 2024, topping last year’s Q1 PAT by 122.5 percent, its recently released financial statement has shown. In 2023, post tax profit […]
GTCO takes off nicely in 2024 with record N509.3bn PBT in Q1
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Segun Agbaje, group chief executive officer, Guaranty Trust Holding Company Plc Onome Amuge A nicely guided take-off in the financial year 2024 has seen Guaranty Trust Holding Company (GTCO) soaring into a record-breaking 587.5 percent year-on-year surge in pre-tax profit to N509.3 billion in the first quarter, its biggest quarterly PBT in its history. […]
Africa’s SDG goals at risk amid $4trn investment shortfall, AfDB president warns
Post AMUGEApril 30, 2024
Joy Agwunobi Akinwumi Adesina, President of the African Development Bank Group (AfDB), has underscored the pressing need for increased financing to support Africa’s Sustainable Development Goals (SDGs) in light of growing global economic pressures and the persistent effects of the Covid-19 pandemic. Citing the $4 trillion annual funding shortfall for the SDGs, up from $2.5 […]
ABCON plans unified retail FX market to hedge volatility
Post AMUGEApril 29, 2024
Business a.m. The Association of Bureaux De Change Operators of Nigeria (ABCON) is spearheading efforts to establish a unified retail foreign exchange market aimed at addressing volatility and enhancing regulatory compliance within the Bureaux De Change (BDC) sub-sector. Aminu Gwadabe, the ABCON president, disclosed that the association is actively pursuing a strategic plan to unify […]