This figure is about 297 percent higher than it spent on debt servicing in April and 286.49 percent higher than the $221.05 million the country spent in May 2023.
Browsing: ECONOMY
After Fidelity Bank, Access Holdings recorded the highest turnover in the market with 93.067 million shares. It was followed by UBA, which recorded a 2.86% gain and a turnover volume of 58.726 million shares.
The Central Bank of Nigeria (CBN) has again reassured the banking public of the safety of their deposits and the banking system’s resilience.
Retail lender, Unity Bank Plc, has projected a profit after tax of N5.2 billion in third quarter of the year.
“Fidelity’s IDRs are driven by its standalone creditworthiness, as expressed by its Viability Rating (VR) of ‘b-‘. The VR balances the concentration of operations in Nigeria’s challenging operating environment, high credit concentration and high Stage 2 loans against a growing franchise, sound profitability metrics, good capital buffers and reasonable foreign-currency (FC) liquidity coverage.
Afreximbank said it has disbursed 40 million dollars Intra-African Investment Facility to Fidelity Bank Nigeria Plc to support Fidelity Bank’s acquisition and recapitalisation of Union Bank United Kingdom.
“In a particularly egregious case, a Director on special assignment, tasked with leading the bank’s efforts to secure an ISO certification for information security, was sacked on the very day the bank successfully achieved this crucial milestone.
The record marks a 1.07% increase compared to April, which figures increased to ₦3.92 trillion from ₦3.86 trillion in March, according to data released by the Central Bank of Nigeria.
Residents and drivers in Sokoto State are struggling with surging fuel prices, which have forced them to increase fares and operational costs. The hike affects bike riders, Keke drivers, car owners, and businesses relying on generators.
“Let’s delve into other aspects of our economy. Nigeria is rich, let’s explore, not just taxing, taxing. If you tax people, people will die. If you continue to tax them and tax them, they will die and if people die without fulfilling their life ambition, you will be held responsible.