Islamic group gives Sterling Bank $15 million facility

Islamic group gives Sterling Bank $15 million facility

Sterling Bank Plc got a $15 million facility from the Islamic Corporation for the Development of the Private Sector (ICD). ICD, a multilateral development financial institution said it recognised the contribution of the Sterling Bank to the growth of Islamic banking in Nigeria and Africa barely four years after it commenced operations. It also commended […]

China Set To Open First Drone Factory In Saudi Arabia

China Set To Open First Drone Factory In Saudi Arabia

China will soon construct the first unmanned aerial vehicle factory in the Middle East following a meeting with Saudi Arabian King Salman bin Abdulaziz Al Saud. The New Arab reports Saudi Arabia granted the Chinese permission to move forward with the plan when the King Abdulaziz City for Science and Technology signed a partnership agreement […]

10 Illegal Sachet Water Factories Closed By NAFDAC

10 Illegal Sachet Water Factories Closed By NAFDAC

(NAFDAC)  Which is known as The National Agency for Food and Drug Administration and Control has shut down 10 substandard and unregistered  sachet water factories in Port Harcourt, the Rivers State capital. The agency, made the clamp down during the operation, which was carried out in Diobu, Bundu Water side, NTA Road, Iwofe, Rumuolumini, Eleoparanwo, […]

Unilever posts N3.07 billion PAT in 2016

Unilever posts N3.07 billion PAT in 2016

Unilever Nigeria Plc has posted a Profit After Tax (PAT) of N3.07 billion in its 2016 operations, against N1.19 billion achieved in the corresponding period in 2015. Specifically, the firm’s audited result for the period ended December 31, 2016 showed 157 per cent growth in PAT, from N1.19 billion to N3.07 billion. The company attributed […]

Current Account Deposits Fell By N1trn

Current Account Deposits Fell By N1trn

The total current account deposits of banks fell by N1 trillion in February, implying banks generated fewer deposits during the month due to the biting effect of the economic recession. Bank This was one of the highlights of the Depository Corporation survey for February 2017 recently published by the Central Bank of Nigeria (CBN). Among […]

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