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Business

Caverton’s net profit slumps by 59%, firm’s helicopter contract dwindles

Caverton Offshore Support Group suffered a 59.46 per cent drop in its profit after tax in the second quarter of 2023, the firm’s Q2...
Business

International Breweries records N21.28 billion loss in three months

The second quarter of 2023 wasn’t a great period for International Breweries, as the brewer saw its loss increase significantly between April to June.In...
Business

After eight years CBN finally publishes financial statements, says it owes JP Morgan, Goldman Sachs $7.5bn

After defaulting for several years, the Central Bank of Nigeria (CBN) has released the Consolidated Financial Statements for seven years, the first time it...
Business

CBN delays approval for Unity Bank, First Bank financial statements

The Central Bank of Nigeria (CBN) has still not approved the 2022 Annual Financial Statements (AFS) of Unity Bank, and First Bank of Nigeria...
Business

Wema Bank posts N132.30bn revenue for 2022, shareholders to pocket N3.85bn

Wema Bank generated N132.30 billion in revenue between January to December 2022, surpassing the N93.63 billion recorded during the same period in 2021.This is...
Business

Energy disruption forces BUA Foods to cut sugar, flour production

BUA Foods, owned by billionaire, Rabiu Abdulsamad, was forced to cut production of its revenue-driven products, sugar, flour and pasta in 2022.In an explanatory...
Business

UBA’s net profit rises by 43.4%, generates N78.94bn from ATM, POS, others

The United Bank for Africa (UBA) reported 43.4 per cent growth in its profit after tax for the financial period of 2022, with its...
Business

CBN holds back approval for Ecobank’s subsidiary company

The Central Bank of Nigeria (CBN) has delayed approving the component audit of a material subsidiary company of Ecobank Transnational Incorporated (ETI).This has forced...

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