Business/Economy

Heirs Insurance Group appoints Ibrahim Puri and Sonny Iroche as Independent Non-Executive Directors CHIGOZIE AMADI Heirs Insurance Group (HIG), Nigeria’s fastest-growing insurance provider, has announced the appointment of Ibrahim Puri and Sunny Iroche as Independent Non-Executive...

Bearish sentiment dominated the stock market on Tuesday, causing investors to lose N371 billion.   Specifically, the market capitalisation shed N371 billion or 0.67 per cent to close at N55.033 trillion, against N55.404 trillion recorded on...

Customers’ deposits rise to N136tn in Q1 CHIGOZIE AMADI The value of customers’ deposits in banks has risen to N136tn as of the end of the first quarter of 2024, data from the Nigerian Exchange Limited...

Bank directors disown chairmen’s views on windfall tax CHIGOZIE AMADI The Bank Directors Association of Nigeria have distanced itself from the views of some bank chairmen on the proposed foreign exchange windfall tax. The Chairman of the...

Five banks recorded N67bn FX gains in H1 CHIGOZIE AMADI Five banks declared N67.89bn in foreign exchange gains in the first half of 2024, according to the analysis of their interim reports by The PUNCH. According to...

Tech adoption crucial for wealth transfer to Gen Zs – Investment advisors CHIGOZIE AMADI Investment experts have advised that when it comes to transferring wealth to Generation Z, digital strategies must be at the forefront. This came...

BUA Foods grows profit to N130bn despite headwinds CHIGOZIE AMADI BUA Foods Plc has recorded a 38 per cent growth in its profit after tax to N130bn at the end of June 2024, compared to N95.18bn...

Public debt stock may hit N130tn by Dec – Report CHIGOZIE AMADI Nigeria’s public debt stock is projected to hit N130tn this year, raising concerns about the country’s debt-to-gross domestic product ratio. This was revealed in a...

•Says banking sector alone can’t achieve $1tn economy   •Cardoso: capital injection not an ambush on industry, policy inclusive, well-thought out CHIGOZIE AMADI The banking industry in Nigeria would need N4.1 trillion (about $3 billion) to meet the...

•Says extravagant lifestyle erodes public trust in financial institutions, diverts crucial resources from priority sectors, others •Insists core banking values must be upheld  •Declares recapitalisation will improve operational efficiency, technological innovation, customer service CHIGOZIE AMADI The Chairman, FBN...