Category Archives: Business

GTBank Releases 2017 Q3 Unaudited Results…… Reports Profit Before Tax of N150.03Billion

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Guaranty Trust Bank plc has released its unaudited financial results for the 3rd quarter ended September 30, 2017, to the Nigerian and London Stock Exchanges.
A review of the 3rd quarter performance shows positive growth across all key financial metrics and improved strategic positioning of the brand. Despite non-recurrence of significant FX revaluation gain during the period, the Bank reported an impressive Profit before tax of ₦150.03billion, representing a growth of 9% from ₦137.99billion recorded in the corresponding period of September 2016. Increase in PBT is primarily from 36% growth in interest income.

UBA Emerges Best bank in support of Real Sector at Banking Awards

l-r: Adetola Fadeyi, Head Wealth Management, United Capital Plc; Frank Aigbogun, Publisher, Presenting the best bank  in support of the real sector trophy to the Usman Isiaka, Head, Strategic Business Unit, Lagos at the BusinessDay Banking Awards, 2017 during the weekend.

Pan-African banking group, United Bank for Africa (UBA) Plc, at the weekend was recognised for its extraordinary support of the real sector as it won best bank in the category, ahead of its peers.
The award, the organisers noted is in recognition of UBA’s leadership role as in expanding access to funds for the support of the real sector in Nigeria and the rest of Africa where it operates. This feat they further said has brought about unprecedented growth to the sector and by extension, the nation’s economy and that of Africa.

First IAAF Bronze Label for West Africa Awarded to Access Bank Lagos City Marathon

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The International Association of Athletics Federation (IAAF) Road Race Bronze Label to Access Bank Lagos City Marathon makes the Lagos marathon the first full marathon in West Africa to get an IAAF label.
The IAAF accreditation which was announced last week ahead of the 3rd edition of the marathon in February 2018, was the outcome of a successful measurement and certification of the marathon course in line with the Federation’s technical standards.

OANDO: HOUSE OF REPS GIVES SEC TWO WEEKS TO COMPLETE ENQUIRY

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The House of Representatives Committee on Capital Market and Institutions on Tuesday held a closed door meeting with the Director-General of Securities and Exchange Commission (SEC), Mounir Gwarzo, regarding the SEC’s lingering enquiry on Oando, following petitions brought by Ansbury Inc. and Mangal.

Oando Foundation Plays Pivotal Role in Nigeria’s Primary Education

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Education plays a vital role in the development of a society and is a catalyst for other forms of enduring development. In the words of Nelson Mandela, “Education is the most powerful weapon which you can use to change the world”. Unfortunately, in Nigeria, the education sector, since the colonial era has grappled with recurring challenges mitigating the actualization of the country’s Universal Basic Education goals. These challenges include inadequate budget allocations by the federal, state and local governments, which has led to a shortage of quality staff, dearth of infrastructure, inadequate and deplorable facilities in public schools, low remuneration and untrained teachers.