Category: nairalaw.com

Nigerian Private Sector Health Improves in January– PMI The recovery in the Nigerian private sector gathered momentum at the start of 2024, with rates of expansion in output and new…

Naira Pops as FMDQ Revises FX Pricing Policy The naira appreciated by 1.9% to N1,455.59 against the dominant foreign currency, the US dollar at the Nigerian Autonomous Foreign Exchange Market…

Banks Face Risks over 24hrs FX Positions Sell Down Non-compliance risk looms large in the financial services sector as the timeline given to deposit money banks to sell down their…

Fidelity Bank Posts Triple Earnings Growth in 2023 Fidelity Bank Plc has bolstered earnings performance as the top Tier-II lender grew profit by about 207% year on year, according to…

FG, UK to Establish Committee on Minerals Development The Federal Government (FG) is partnering with the United Kingdom (UK) to establish a joint technical working group for the development of…

Transcorp Plc Grows Profit by 102% to N34bn Transcorp Corp Plc posted a significant surge in earnings following a spike in revenue generated by the group in 2023. In its…

Oil Slides as China Economic Dips, US Dollar Strength Global market prices of crude oil slid on Wednesday over sluggish growth in China, US dollar gains amidst Red Sea tension…

International Breweries Plc.’s Loss Increases by 175% over FX Distress International Breweries Plc’s loss widened by 175% in 2023 as the company’s foreign currency liabilities on its balance sheet resulted…

NAHCO Posts 130% Profit Growth in 2023 Nigerian Aviation Handling Company (NACHO) Plc bolstered earnings performance in 2023 with 130% year-on-year growth in profitability, details from its financial statement submitted…

Nigeria Customs Probed for Non-Submission of Audited Reports The House of Representatives Public Accounts Committee (PAC) has queried the Nigeria Customs Service (NCS) over the non-submission of audited financial statements…