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Q1: United Capital Reports 67% Growth In PAT Posted by African ExaminerBusiness, Featured, Latest News Friday, April 30th, 2021 (AFRICAN EXAMINER) – United Capital Plc (“United Capital” or “The Group”), Nigeria’s leading investment bank and a foremost Pan-African financial and investment services group, announced its Unaudited Financial Statements for the period ended March 31, 2021 on April 28th, 2021, showing a Revenue of N3.12Billion, and Profit Before Tax of N1.97 Billion while delivering an Earnings Per Share of 111 kobo. United Capital Plc remains a leader in the financial and investment services space, with a mission to provide bespoke and innovative value-added services to its clients. The group aims to transform the African continent by providing innovative and creative investment banking solutions to governments, companies and individuals. ....
Starting 2021 Strong, UBA Records 27% PAT Growth, 20.5% ROAE Posted by African ExaminerBusiness, Featured, Latest News Monday, April 19th, 2021 (AFRICAN EXAMINER) – Pan African financial institution, United Bank for Africa (UBA) Plc has released its unaudited results for the first quarter ended March 31st, 2021, showing impressive double-digit growth across most of its major income lines. The bank leveraged on modest growth in both interest and non-interest income as well as increased efficiency to deliver an impressive 24% year-on-year growth in Profit Before Tax in the first three months of the 2021 financial year, to N40.6 billion compared with N32.7 billion recorded in the first quarter of 2020. ....
Spread the love (AFRICAN EXAMINER) – Farmers and other stakeholders have cried out over the negative economic impact that will hit the Nigeria’s economy following the suspension of the Anchor Borrowers Loans scheme mismanaged by the Nigeria Incentive Based Risk Sharing System for Agricultural Lending (NIRSAL). African Examiner reports that the Central Bank of Nigeria (CBN) had recently suspended all loans disbursed by NIRSAL, following widespread allegations of frauds and corruption by its officials. The CBN’s suspension of further disbursement of loans by NIRSAL to farmers was contained in a correspondence of March 10, following the Feb. 24 meeting where the decision to suspend further loan disbursements was reached. ....
Spread the love …To Award Warri, Kaduna Refineries Rehab EPC in June (AFRICAN EXAMINER) – The drive by the Management of the Nigerian National Petroleum Corporation (NNPC) to boost in-country refining capacity was bolstered on Tuesday with the signing of the Engineering, Procurement, Construction, Installation and Commissioning (EPCIC) contract for the rehabilitation of the 210,000 barrels per day capacity Port Harcourt Refinery in Alesa-Eleme, Rivers State. The rehabilitation project which has a completion timeline of between 18 and 44 months under a three-phase arrangement was awarded to Milan based Tecnimont SpA at a lump sum contract price of US$1.5 billion, inclusive of VAT and other statutory payments. ....
Spread the love A Coalition of Nigerian Civil Society Organizations for Petroleum and Energy Security (CONCSOPES) on Saturday sought the sustenance of deregulation of the price of the Premium Motor Spirit (PMS). Speaking in a press conference in Abuja, the convener, Mr. Timothy Ademola, noted that a reversal of the deregulation that started in March 2020 will lead to scarcity of the product. Besides, he said it will lead the Nigerian National Petroleum Corporation (NNPC) to negative financial records. According to him, “With the agitation of labour for the roll back of deregulation, NNPC will inadvertently have to absorb the cost of the price differential between landing cost and pump price. ....