Nigeria Unity Bank said on Tuesday its 9-month pre-tax profit jumped 48 percent to 4.44 billion naira ($28.22 million), compared with 3 billion naira in the same period a year ago. Gross earnings in the year to September rose to 38.91 billion naira from 30.72 billion naira, while loans grew […]
Author: InvestAdvocate
IMF urges African oil producers to avoid exploration ‘white elephants’
The International Monetary Fund has urged African oil and gas producing nations to direct their revenues to infrastructure and education rather than on “white elephants.†Exploration in east and southern Africa has been high in recent months as a result of big oil and gas discoveries in Tanzania, Mozambique, Kenya […]
Private Sector is Harbinger of Fraud, Says Lamorde
The Economic and Financial Crimes Commission (EFCC) has described the private sector in Nigeria as the “main harbinger of fraud and corruption,†in the country. Chairman, EFCC, Mr. Ibrahim Lamorde, who said this while speaking during the launch of the Ernst & Young West Africa’s Global Fraud Survey in Lagos […]
