Business

FirstBank Cardholders Record N1.18trn In Transactions Value during Lockdown

SAN FRANCISCO, May 13, (THEWILL) - Since its establishment in 1894, FirstBank has consistently built relationships with her customers, focusing on the fundamentals of good corporate governance, strong liquidity, optimised risk management and effective leadership. These, amongst others, are...

NLNG Signs EPC Contracts With SCD JV Consortium

BEVERLY HILLS, May 13, (THEWILL) - The Nigeria LNG, on Wednesday, signed the engineering, procurement, and construction (EPC) contract for Train 7 with the SCD Joint Venture Consortium with Saipem, Chiyoda, and Daewoo, as it plans a major expansion...

Nigeria’s Economy To Contract By 3.4% In 2020 — FG

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SAN FRANCISCO, May 06, (THEWILL) - The Federal Government has revised its earlier forecast of 2.9% growth for the nation’s economy saying rather, the economy will contract by 3.4%. Reuters quoted the Director-General of the Budget Office, Ben Akabueze, as...

COVID-19: Experts Optimistic On Oil Price Rise But Warn That Reforms Must Happen

BEVERLY HILLS, May 04, (THEWILL) - Despite the current crisis in the petroleum sector occasioned by a slide in crude oil prices, industry experts and policy analysts foresee that there will be stabilisation of crude oil price. They however warn...

Zenith Bank Posts Improved Gross Earnings Of N166.8b In Q1 2020

SAN FRANCISCO, April 30, (THEWILL) - Zenith Bank Plc has announced its unaudited results for the first quarter ended March 31 2020, with gross earnings rising by 6% from N158.1 billion in March 2019 to N166.8 billion. From the unaudited...

Local Governments, States, Federal Government Share ₦780.926bn FAAC For March

BEVERLY HILLS, April 22, (THEWILL) - The Federation Accounts Allocation Committee (FAAC) met through video conferencing to split a total of ₦780.926 billion as March 2020 Federation Account Revenue. The Office of the Accountant General of the Federation (OAGF) disclosed...

Nigeria’s Inflation Rises To 12.26%

BEVERLY HILLS, April 21, (THEWILL) - The Consumer Price Index, (CPI) which measures inflation rose to 12.26 per cent (year-on-year) in March compared to 12.20 per cent in the preceding month, according to the National Bureau of Statistics (NBS). According...

Virgin Australia Collapses As Virus Wipes Out Global Air Travel

Virgin Australia Holdings Ltd. became Asia’s first airline to fall to the coronavirus after the outbreak deprived the debt-burdened company of almost all income. Administrators at Deloitte, who have taken control of the Brisbane-based carrier, aim to restructure the business...

Oil Plunges Below Zero for FirstTime in Unprecedented Wipeout

U.S. crude trades at lowest level in data going back to 1946 Crude in U.S. trades more than $40 below zero at lowest level Of all the wild, unprecedented swings in financial markets since the coronavirus pandemic broke out, none has...

CBN Suspends Cheque Clearing As Nigeria Enters Lockdown Over Coronavirus

BEVERLY HILLS, March 30, (THEWILL) - The central bank has temporarily suspended cheque clearing in the Nigerian banking system as President Muhammadu Buhari ordered lockdown takes effect midnight Monday in a bid to curb the spread of the coronavirus. The...