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With the race for the government houses in Edo and Ondo states advancing, the three leading political parties, All Progressives Congress (APC), Peoples Democratic Party (PDP) and the Labour Party (LP) have earned N2.284 billion from sales of Nomination and Expression of Interest Forms to their aspirants who are squaring up in primaries ahead of the…

Guaranty Trust Holding Company Plc (GTCO) piled up credit and financial asset losses of N198 billion in 2023. Still, an equally massive inflow of foreign exchange revaluation gains of N442 billion provided sufficient cover to throw off the losses without hurting the bottom line. The bank’s audited financial report for the full year ended…

For implementing International Financial Reporting Standard 17 (IFRS), NEM insurance Plc, among others listed on the Nigerian Exchange Limited (NGX) are to delay 2023 filings of audited result and accounts to the investing public. An investigation by InsideBusinessNG revealed that all the listed insurance companies on NGX submitted unaudited full…

In an apparent move to reduce the negative impact of macroeconomy challenges on their risk's assets, Zenith Bank Plc and four Tier-1 banks reported N996.6billion impairment charges in 2023 financial year. The provisioning showed a jump of 137 per cent compared with N421.32 billion recorded in 2022. An impairment charge usually reflects a fall in…

Owing to the continued dumping of its shares in the wake of the recapitalisation drive by the Central Bank of Nigeria (CBN), the NGX Banking index led the losses by 11.46 per cent week on week on the stock market segment of the Nigerian Exchange Limited (NGX), complementing the bearish trend in last week during which the All-Share Index closed…