United Capital firing from all cylinders with impressive revenue growth at 63% for Q1’21
Charles Abuede
April 29, 2021
Records N3.12bn in total revenue PAT and PBT grew 68% to N1.66bn and N1.97bn respectively Charles Abuede United Capital Plc, a leading Pan-African financial and investment services group, reported impressive growth across key indicators during the first quarter of 2021 in the face of the challenging global climate as it recorded a […]
First Bank appoints new MD/CEO as Adeduntan Retires
Online EditorApril 28, 2021
Arakunle Kayode The board of directors of First Bank of Nigeria has approved the appointment of Gbenga Shobo as the new Managing Director/Chief Executive Officer (CEO), effective from Wednesday. Prior to his promotion, Shobo was the bank’s Deputy Director and he succeeds with Adesola Adeduntan who will be leaving the bank in compliance with […]
NEM Insurance welcomes new CFO
Zainab IwayemiApril 28, 2021
Zainab Iwayemi NEM Insurance Plc has appointed Idowu Semowo as the new Chief Financial Officer, CFO to manage the financial action of the firm. This was contained in a corporate disclosure filed at the Nigerian Exchange on Wednesday. The disclosure titled ‘Notification of Appointment of New Chief Financial Officer’ and signed by the Olajumoke […]
Mastercard enters into partnership with Gemini to roll out crypto reward credit cards
Charles AbuedeApril 28, 2021
Charles Abuede Gemini, a cryptocurrency exchange has announced a partnership with Mastercard, a global payment merchant to roll out crypto rewards credit cards which they disclosed will be offered this summer. Gemini made the announcement on Tuesday in a blog post where it revealed that the partnership with Mastercard network will allow the […]
Leading South African MFB, Barko Financial Services launches mobile app to drive financial inclusion
Wale AmeenApril 28, 2021
Wale Ameen Online Editor Leading South African Micro Finance Bank, Barko Financial Services has launched its digital app in a bid to expand financial banking inclusion for South Africans. With the app powered by Temenos technology, the Micro Finance bank will enable over 1.5 million South Africans access finance fast and in less than […]
Cadbury Nigeria reports 4% revenue growth for Q1 2021 with N8.9bn PAT
Charles AbuedeApril 27, 2021
Struggles with margins and operating performance Charles Abuede Cadbury Nigeria Plc., Nigeria’s fast moving consumer goods manufacturer has reported a 4.3 per cent year on year revenue growth in the first three months of operation in 2021 to N8.9 billion from N8.5 billion in Q1 2020, while the net profit toppled by 62.2 […]
Wema Bank posts N13.51bn revenue shortfall as loan restructuring bites
Arakunle KayodeApril 27, 2021
Arakunle Kayode Wema Bank recorded a sharp decline in revenue generated for the year 2020 on the back of the COVID-19 pandemic, its recently released financial statement shows. According to the bank’s financial statements released on Monday, the bank recorded a N13.51 billion shortfall in revenue for year 2020, as it generated a […]
CardinalStones Partners list N5bn Series I bond on the FMDQ Securities exchange
Charles AbuedeApril 27, 2021
· Company says plans are underway to list bond on the NGX Charles Abuede CardinalStone Partners Limited, a full-service investment banking firm and financial services company has made public the listing of CardinalStone Financing SPV Plc N5 billion Series I Bond on the FMDQ Securities Exchange Limited. The company, in a statement, explained […]
Transcorp, Nigerian conglomerate, appoints new board members, with new subsidiary CEOs
BEN EGUZOZIEApril 26, 2021
…Famuyibo, Sambo become independent non-executive directors …Ozoude is MD/CEO of Trans-Afam Power Ltd; Ikenga head Transcorp Energy Ltd Ben Eguzozie, in Port Harcourt Transnational Corporation of Nigeria Plc, better known as Transcorp, Nigeria’s largest listed conglomerate and recently leading investor in the Nigerian energy sector, with the acquisition of Afam Power […]
Total banking sector NPLS declined to 6% in Q4 2020 reflecting CBN’s efforts for loan book restructuring
Charles AbuedeApril 26, 2021
Charles Abuede Despite the impact of the coronavirus pandemic which made some Nigerian businesses grapple for funds and support from the government as well as some banks due to their inability to restructure their books, the total banking sector non-performing loans have marginally declined to 6.0 per cent to N20.5 trillion in the final […]