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FBN Holdings reports N738.9bn profit as revenue soars

31.01.2025
FBN Holdings Plc recorded a 138 per cent increase in profit for the 2024 financial year, rising to N738.9bn from N310.4bn reported in 2023. The group’s financial statement, released on the Nigerian Exchange Limited, showed that profit before tax rose by 142 per cent to N862.4bn, compared to N356.1bn in the previous year. Interest income...
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Rice production drops to 8.3MT despite interventions – Report

31.01.2025
Nigeria’s rice production has declined to 8.3 million tonnes for the 2024/2025 cycle, down from 8.9 million tonnes the previous year despite ongoing government efforts to boost agricultural output. This decrease has raised concerns as the Federal Government continues to implement interventions aimed at enhancing food security and addressing hunger across the nation. Data from...
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Govt to generate N1.6tn from telecoms tariff hike

31.01.2025
The recent 50 per cent tariff increase approved by the Nigerian Communications Commission is expected to generate an additional N1.6tn in tax revenue while driving investment in telecommunications infrastructure. The Global System for Mobile Communications Association in a statement on Wednesday, described the tariff adjustment—the first in 12 years—as a significant step toward bridging Nigeria’s...
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Four FCMB customers win N1m each

31.01.2025
Four customers of First City Monument Bank have become millionaires while 900 others received cash prizes of up to N50,000 in the bank’s promo. The winners emerged at the first draw of its Millionaire Promo Season 10 held nationwide recently. The new millionaires are Issa Aliyu, a farmer from Ilorin, Kwara State; Anthony Ngiah, a...
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Domestic fuel supply drags petrol imports to eight-year low

31.01.2025
The importation of Premium Motor Spirit (petrol) into Nigeria is on track to hit its lowest volume in eight years. This significant shift is driven by the operations of the 650,000-barrel-per-day Dangote Petroleum Refinery, the country’s recently established mega-refinery, which is reducing the need for imports and bolstering Nigeria’s fuel sufficiency. A report by Bloomberg...
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UBA Foundation wins philanthropy of the year award

31.01.2025
UBA Foundation, the Corporate Social Responsibility arm of the United Bank for Africa Plc, won the ‘Philanthropy of the Year award at the recently held 2025 THISDAY Awards. UBA Foundation emerged as the winner in the category, which had other nominees, including Dangote Foundation, NLNG, MTN Foundation, and Fidelity Bank Foundation. The award ceremony, tagged...
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Senator urges MFBs integration for agric credit access

30.01.2025
The lawmaker representing Enugu North Senatorial District, Okechukwu Ezea, has called for the integration of microfinance banks into the disbursement of agricultural and rural credit programmes for improved access to rural finance. Ezea said this during a recent constituency meeting in Nsukka, Enugu State. Recent data from the Central Bank of Nigeria revealed that 95.66...
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Access Bank tackles Africa’s $81bn trade finance gap

30.01.2025
Access Bank Plc has announced plans to host its first-ever Africa Trade Conference to bridge the $81bn annual trade finance gap on the continent. This was indicated in a statement made available to The PUNCH on Wednesday. The conference to be hosted under the theme ‘Empowering Africa Through Trade, Innovation, and Sustainable Growth’ is scheduled...
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I apologise for saying no heaven without tithe – Adeboye

04.10.2024
The General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adeboye, has apologised for saying that Christians who don’t pay tithe might not make it to heaven. Adeboye who had previously said that paying tithe was one of the prerequisites for going to heaven, apologised for the comment while addressing his congregation Thursday...

Protesters storm Rivers electoral commission, insist election must hold

04.10.2024
Angry protesters on Friday stormed the office of the Rivers State Independent Electoral Commission, singing and chanting ‘Election must hold’. They defied the heavy rainfall spreading canopies, while singing and drumming, with one side of the road blocked. The protest came after the Rivers State governor stormed the RSIEC in the early hours of Friday...

Man who asked Tinubu to resign admitted in psychiatric hospital

04.10.2024
The Adamawa State Police Command has disclosed that the 30-year-old Abdullahi Mohammed who climbed a 33 kv high tension electricity pole in Mayo-Belwa last Friday has been admitted at the Yola Psychiatric hospital for mental examination. The Police Public Relations Officer of the command SP Suleiman Nguroje, told Arewa PUNCH on Friday in an exclusive...

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