Author: PageOne

CBN Resumes Sales of Forex To BDC Operators
Policy

CBN Resumes Sales of Forex To BDC Operators

The Central Bank of Nigeria, CBN has finally rescinded its decision to bar bureau de change, BDC operators from getting Forex through authorised dealers. In a circular by the CBN, the apex bank has now authorised all accredited banks to sell Forex to approved BDCs and dealers. “In the continued […]

Omoluabi Mortgage Now In Positive Earnings
Big Business

Omoluabi Mortgage Now In Positive Earnings

Omoluabi Mortgage PLC has released its second quarter earnings result showing the company is now in positive territory according to its balance sheet. Net interest income rose to NGN140 million compared to NGN94,7 million recorded for the same segment last year. Omoluabi Mortgage’s interest expenses however, increased to NGN3,8 million […]

GTBank Clarifies Delay Of Q2 2016 Earnings
Big Business

GTBank Clarifies Delay Of Q2 2016 Earnings

In order to clear the air on the lateness in submitting its Q2 2016 result, GTBank has just released an official statement citing its reasons. “The amended Rulebook of Nigerian Stock Exchange (“NSE”) requires quoted companies to submit their interim reports to the NSE not later than thirty (30) days […]

Aquila Is Facebook’s Solar-powered WiFi Airplane
Tech

Aquila Is Facebook’s Solar-powered WiFi Airplane

Facebook said its Connectivity Lab has reached a major milestone in this ambition with the first full-scale test flight of Aquila. Aquila is an unmanned solar-powered airplane that can be used to bring affordable internet to hundreds of millions of people in the hardest-to-reach places. Internet access can offer life-changing opportunities, […]

Thisdayonline.com’s Paywall Is Ill-Advised
Big Business

Thisdayonline.com’s Paywall Is Ill-Advised

Thisdayonline.com a news website belong to ThisDay Newspaper has installed a paywall on its site. The company must be taking the move to shore up its revenue considering the challenging business climate in the country. Publishing outfits are also badly hit coupled with the lack of a strong reading culture. […]

Flour Mills Q2 Revenue Rises By 11%
Big Business

Flour Mills Q2 Revenue Rises By 11%

Flour Mills PLC has released its Q2 2016 revenue report with 11% year on year growth. In a statement signed by the company’s CEO, Paul Gbedebo, he said “in spite of the strong economic headwinds and tough business environment, devaluation of the Naira and unrest in the North East, Flour […]

Why Nigeria’s Revenue Is Rising?
Policy

Why Nigeria’s Revenue Is Rising?

Nigeria is now earning more revenue from non-oil sources and it is a good news, at least for a battered economy in recession. In the just released data from the Federation Accounts Allocation Committee, FAAC the federal government earned NGN301.32 billion more in June. The government revenue sharing among 36 states […]