United Bank for Africa has announced a profit of N189.84 billion for the first quarter of 2025, marking a strong start to the financial year. This represents a 33.15 per cent increase compared to the N142.58 billion recorded during the same period in 2024. The bank revealed this in a corporate disclosure filed with the…
Air Peace Ltd. has announced the suspension of all flight operations nationwide due to the ongoing strike embarked upon by the Nigerian Meteorological Agency (NiMET). This is contained in a statement signed by the Head of Corporate Communications, Air Peace, Dr Ejike Ndiulo, on Wednesday in Lagos. According to Ndiulo, the decision is necessary because…
The National Pension Commission (PenCom) has announced the recovery of ₦1.58 billion from defaulting employers through enhanced enforcement efforts.This information was shared by the Director General of PenCom, Ms Omolola Oloworaran, on Wednesday in Kano during the First Run 2025 Consultative Forum for States and the Federal Capital Territory (FCT). According to her, state remittances…
The insurance industry has recorded 61 per cent year-on-year increase in third quarter (Q3) of 2024, reaching N1.2 trillion. Mr Kunle Ahmed, Chairman of Nigerian Insurance Association (NIA) disclosed this during a quarterly news conference on the performance of the industry by the association in Lagos. Ahmed said this growth was largly driven by the…
A financial expert, Mr Moses Igbrude, has urged the Federal Government to entrench the naira for crude oil policy to ensure its affordability and also help to moderate the inflation rate. Igbrude, National Coordinator, Independent Shareholders Association of Nigeria (ISAN), made this interview with the News Agency of Nigeria (NAN) on Tuesday in Lagos. He…
The International Monetary Fund (IMF) has projected that global growth will decline to 2.8 per cent in 2025, as significant policy shifts continue to unfold across the world. This projection is contained in the IMF’s latest World Economic Outlook (WEO) Update for April 2025, titled “A Critical Juncture Amid Policy Shifts”, released on Tuesday. According…
The Minister of Aviation and Aerospace Development, Mr Festus Keyamo, has harped on the synergy between aviation and financial discipline for sustainable growth of the industry. Keyamo said this during the inauguration and investiture of the Aviation Chapter of the Institute of Chartered Accountants of Nigeria (ICAN), held on Tuesday in Lagos. The minister was…
The International Monetary Fund (IMF) on Tuesday lowered its global economic growth forecast for 2025 to 2.8 per cent. Predicting the wave of tariffs and uncertainty unleashed by U.S. President Donald Trump will lead to a worldwide economic slowdown. The IMF revised its projection of 3.3 per cent forecast in January. Global growth for 2026…
The Nigerian Insurers Association (NIA) has urged President Bola Tinubu to promptly assent to the Nigerian Insurance Industry Reform Bill 2024, recently passed by the National Assembly. NIA Chairman, Mr Kunle Ahmed, made the appeal during the first quarter 2024 briefing on the insurance industry’s performance, held in Lagos. Ahmed said the bill seeks to…
Shareholders have kicked against the N436.5 billion paid to the Asset Management Corporation of Nigeria (AMCON) by seven banks as banking sector resolution costs in 2024. Some of the shareholders, who spoke to the News Agency of Nigeria (NAN) in Abuja on Sunday, said that the levy had negative consequences on shareholders’ funds. Mrs Bisi…
