Business

Guaranty Trust Holding Company Plc (GTCO) has announced a profit before tax of ₦600.9 billion for the half-year ended June 30, 2025, despite the absence of the exceptional ₦493 billion fair value gains recorded in the same period of 2024.According to its audited financial results released to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE), the Group’s performance …

L-R: Olayinka Ijabiyi, Acting Group Head, Marketing and Corporate Communications, First Bank; Gbenga Omotosho, Lagos State Commissioner for Information and Strategy; Samuel Egube, Lagos State Deputy Chief of Staff & LOC Chairman, E1 Lagos GP; Chiamaka Okachie, Senior Brand Manager, Celebr-8 Lyfe; Ifeoluwapo Odedere, Category Lead, Guinness, during the E1 Lagos GP Stakeholder Immersion session held in Lagos, recently In …

The Permanent Secretary of the Office of Urban Development, Mr. Gbolahan Oki, stated that the meeting was in line with Governor Babajide Sanwo-Olu’s directive that the process must be inclusive and transparent.“This is the first time in 15 years that government is holding this kind of meeting directly with you in your market. It shows the governor’s commitment to openness,” …

Skyway Aviation Handling Company (SAHCO) Plc has secured the contract to provide ground handling operations to Air Tanzania at Murtala Muhammed International Airport in Lagos State. SAHCO is providing comprehensive ground handling services, which includes Passenger Handling, Baggage Handling, Ramp Handling, Cargo Handling and Warehousing, and other aviation related services to Air Tanzania that would be flying from its hub …

Dangote Petroleum Refinery has disclosed that the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) demanded an annual subsidy of N1.505 trillion to enable members to match the refinery’s gantry prices at their own depots.The refinery stated that despite offering petroleum products to marketers at its gantry price, DAPPMAN insists on taking delivery via coastal logistics, which would add …

The Federation Account Allocation Committee (FAAC) has shared N2,225.118 trillion August 2025 Federation Account Revenue to the Federal Government, States and the Local Government Councils.The revenue was shared at the August FAAC meeting held in Abuja.A communique issued by the FAAC on Wednesday, September 17, 2025, said the N2,225.118 trillion total distributable revenue comprised distributable statutory revenue of N1,478.593 billion, …

Tony Elumelu Tony Elumelu, the Chairman of Heirs Holding, has noted that the United Bank for Africa (UBA) staff died in the fire outbreak at Afriland Towers in the Lagos Island area of Lagos State.The fire incident occurred on Tuesday, September 16, 2025. Speaking via a statement on Wednesday, Elumelu, who is also the chairman of UBA, said he was …

The naira appreciated to N1,484.13 against the United States dollar in the official foreign exchange (FX) market on Tuesday, September 16, 2025.At the close of trading on Tuesday, the dollar was quoted at N1,484.13 against N1,497.46 recorded at the Nigerian Foreign Exchange Market (NFEM) on Monday.Data released by the Central Bank of Nigeria (CBN) showed a N13.33 appreciation for the …

Fire has gutted a commercial bank branch on Broad Street in the Lagos Island area of Lagos State.The fire outbreak at the bank was confirmed by the Lagos State Fire and Rescue Service on Tuesday, September 16, 2025.The service, in a statement shared on X, said its operatives are currently battling the inferno. Olajide disclosed that a distress call was …

Dangote refinery has delivered the first shipment of gasoline to the United States, marking a major milestone for the $20 billion facility. Reuters, in its reports cited shipping data and industry sources, the cargo of about 320,000 barrels was transported aboard the Panama-flagged vessel Gemini Pearl and arrived at the Port of New York on Sunday. The shipment was arranged …