By Ayomide Otitoju Zenith Bank Plc has announced an impressive 90.5% increase in profit over the past year, hitting N827.2 billion in the 12 months leading up to September 2024, as per its financial report submitted to the Nigerian Exchange. According to Zenith Bank’s unaudited financial statement for the first nine months of 2024 (9M-2024),…
By Ayomide Otitoju The Independent Petroleum Marketers Association of Nigeria (IPMAN) is owed over N40 billion by the Nigerian National Petroleum Company Limited (NNPCL), according to IPMAN President Abubakar Garima. Speaking on Channels Television’s Breakfast Show, Garima highlighted the ongoing challenges faced by petroleum marketers, who are still awaiting product allocation from NNPCL. In response…
By Ayomide Otitoju Nestlé Nigeria’s net loss surged by 328% year-on-year to N184 billion for the first nine months of 2024, up from N43.068 billion a year earlier, according to its unaudited financial results. The increase reflects significant foreign exchange losses, which reached N285.29 billion during the period. Despite a 67.8% revenue boost to N665.29…
By Ayomide Otitoju Nestlé Nigeria has relaunched its MAGGI Chicken flavour seasoning cubes with a refreshed spice blend featuring onion, turmeric, celery, and an intensified chicken flavour. Now available in a double-cube format, the new design enhances convenience and reduces packaging, aligning with Nestlé’s sustainability goal of a waste-free future. The relaunch was announced at…
By Ayomide Otitoju Adron Homes and Properties, a leading real estate firm, reinforced its commitment to corporate social responsibility (CSR) through its fourth annual Breast Cancer Awareness and Screening Initiative, led by Vice Chairman Olori Aderonke Emmanuelking. The event, held at the company’s head office in Omole, Lagos, in partnership with Pink Clinic, marked World…
By Ayomide Otitoju Wema Bank Nigeria has released its unaudited financial results for Q3 2024, showing robust performance with a profit before tax of ₦60.62 billion, marking a 174% increase from ₦22.13 billion in the same period last year. Total assets grew by 38% to ₦3.08 trillion, while deposits rose 23% year-to-date to ₦2.29 trillion….
By Ayomide Otitoju Access Bank has announced intentions to issue dollar-denominated securities, aiming to attract Development Financial Institutions and open-market investors to strengthen its capital base and support expansion. This was disclosed by Managing Director Roosevelt Ogbonna at a media briefing in Lagos on Monday. Ogbonna explained that the planned issuance would be in two…
By Ayomide Otitoju In a strategic move to elevate Nigerian small and medium enterprises (SMEs) in the global marketplace, Wema Bank has introduced the Wema Export Trade Academy. This innovative program aims to strengthen the export capabilities of local businesses by providing comprehensive training and resources to navigate the complexities of international trade. Recognizing the…
By Ayomide Otitoju In a major stride towards sustainable finance and carbon reduction, FirstBank has joined the Partnership for Carbon Accounting Financials (PCAF). This global alliance brings together financial institutions committed to standardized assessments and transparent disclosures of greenhouse gas (GHG) emissions from loans and investments. Through this move, FirstBank reaffirms its dedication to sustainable…
