Business

Nnpc, Dpr Must Explain Zero Revenue Remittance, Says Auditor-General

Filed in Business by on July 30, 2018 0 Comments
Nnpc, Dpr Must Explain Zero Revenue Remittance, Says Auditor-General

THE Nigerian National Petroleum Corporation (NNPC) and the Department of Petroleum Resources (DPR) have cases to answer over non-remittance of revenues to the Federation Account for several months, a new report has shown. The Auditor-General of the Federation, Mr. Anthony Ayine, in his Annual Audit Report for 2016, said it was observed from the Central […]

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EKDEC To Prosecute Thieves

Filed in Business by on March 15, 2018 0 Comments
EKDEC To Prosecute Thieves

Its Chief Executive Officer, Mr Adeoye Fadeyibi, said this while deliberating on how the company could improve its service delivery at a town hall meeting in Victoria Island in Lagos Fadebiyi, represented by Mr Joseph Esenwa, the Chief Finance Officer of the company, said there had been high rate of energy theft and non-payment of […]

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Fed Govt To Redeem N482b T-Bills In Q2

Filed in Business by on March 15, 2018 0 Comments
Fed Govt To Redeem N482b T-Bills In Q2

Federal Government plans to repay N482 billion of treasury bills (T-Bills) in the second quarter of this year. The regulator will also halve the amount it wants to raise between March and May to lower borrowing costs, according to debt auction calendar seen released yesterday. A total of N964 billion worth of bills fall due […]

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GTB Posts N200b Profit, To Pay N79.5b Dividend

Filed in Business by on March 15, 2018 0 Comments
GTB Posts N200b Profit, To Pay N79.5b Dividend

Nigeria’s most capitalised financial institution and leading tier one commercial bank- Guaranty Trust Bank (GTB) Plc recorded a pre-tax profit of N200 billion in 2017, prompting the board of the bank to recommend distribution of N79.5 billion as cash dividend to shareholders. Key extracts of the audited report and accounts of GTB for the year […]

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Insurers Pay N119.5b Claims

Filed in Business by on February 26, 2018 0 Comments
Insurers Pay N119.5b Claims

Amid the hardship of recession in 2016, insurers helped restore businesses and protect families of insured Nigerians through payment of claims for losses worth N119.5 billion, a report by the Nigeria Insurers Association (NIA) has shown. The amount was paid by 58 insurance companies that are members of the association. They comprise 15 specialist life […]

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