UBA announced a final dividend of N78.7 billion for shareholders for the 2023 financial year (FY 2023). This translates to N2.30 per share held. Including the N0.50 per share interim dividend paid for the first half of 2023 (H1 2023), UBA distributed a total dividend of N2.80 per share, amounting to N95.8 billion. This total […]
Nigerian Government Starts Handing Out N50,000 Grants to Tiny Businesses The Nigerian government has begun disbursing the N50,000 Presidential Conditional Grant Scheme, also known as the Trade Grant Scheme, to small businesses across the country. What are Nano businesses? These are very small businesses with one or two employees and annual sales of less than […]
The Nigerian Federal Government, led by Minister of Finance, Wale Edun, is focusing on implementing tax incentive measures to enhance economic growth across the country. These measures aim to reduce tax expenditures and ensure that tax incentives have a positive impact on the economy. The introduction of the Incentive Monitoring and Evaluation Platform (IMEP) is […]
In a nation where corporate excellence is often short-lived and few companies reach the centenary mark, reaching 130 years is undoubtedly a significant achievement for Nigeria’s premier financial institution, FirstBank. Experience, it is said, comes with age. This undeniably defines the consistent growth of First Bank of Nigeria Limited (FirstBank) and its continual reinvention as […]
United Bank of Africa Plc (UBA), a leading bank in Nigeria, has indicated a clear strategy to enhance its capital base and ensure compliance with regulatory requirements. Oliver Alawuba, UBA’s Group managing director/chief executive officer, shared this information with the bank’s local and international investors during its 2023 Full Year Investors’ Conference Call after releasing […]
Operators and experts in the built environment have asserted the necessity of recapitalizing the Federal Mortgage Bank of Nigeria. According to Toye Eniola, the executive secretary of the Association of Housing Corporations of Nigeria, “The prices of building materials and construction have increased, and more funds would be required in the system. Recapitalization will assist […]
Six commercial banks in Nigeria have increased their spending on information and technology (IT) by 44.66 percent to N205.34 billion as more customers conducted electronic transactions, a report indicated. The six banks are: – Access Holdings PLC – GTCO – Zenith Bank – UBA – Stanbic IBTC Bank – Wema Bank These lenders saw their […]
The naira has continued its strengthening against the United States dollar. The Nigerian currency appreciated to N1,050/$ at the official market and N1,136/$ at the parallel market by the close of trading activities on Monday. Traders predicted the dollar’s fall to below N1,000 before the end of the week. Data from the FMDQ Exchange, a […]
IDEMIA Smart Identity and the National Identity Management Commission (NIMC) have agreed to renew their long-standing collaboration and upgrade NIMC’s biometric system to become the most advanced biometric system in the world, comparable only with Aadhaar in India. The original system was created to accommodate 100 million records but has now reached approximately 90 million records, necessitating this […]
Credit bureaus serve as crucial intermediaries in leveraging data to bridge the gap between formal and informal economies, enabling access to formal credit for previously excluded individuals and fostering economic expansion through trust-building financial transactions, while addressing challenges such as loan stacking through comprehensive data analysis, and promoting financial inclusion via advanced technologies and strategic […]