Business News Round Up From September 12- September 16, 2022

Welcome to the AllNews roundup of the 5 Latest Business News that made the round last week.

Abbey Mortgage Bank Plans Repositioning, Records N662 Million Profit

For the financial period of 2021, Abbey Mortgage Bank has recorded a profit of N622 million and N354 million after tax.

The bank has also revealed that it is on a transformative course toward repositioning the bank to meet the demands of contemporary times. Read more here

Ganic Foods Receives N16.56 Billion From Afreximbank

African Export-Import Bank has finalised  a lending deal with Ganic Foods Limited, which takes the form of an N16.56 billion Dual Tranche Export Development Facility

According to a statement, the deal had been designed to support Ganic in its construction of a palm kernel expellers plant, a soyabean solvent extraction plant, as well as a vegetable oils refinery, all located within an area in excess of 50,000 square metres at Odofin-Oke Village, along Shagamu-Abeokuta Expressway, Ogun State, Nigeria. Read more here.

Compulsory Insurance Policy: NAICOM Seeks Support Of Kaduna Government

Abdulrasaaq Abdulsalami, the Head, Corporate and Market Development, National Insurance Commission has sought the support of the Kaduna State Government on the implementation of the compulsory insurance policies in the country’s statutory laws.

He said this during the sensitisation programme for top government functionaries, Khadis and Ulamas In Katsina State. Read more here

Nigerian Firms Pay N1.25 Trillion Tax In Six Months

For the first six months of 2022, Nigerian firms paid a sum of N1.25 trillion tax to the Federal  Government despite facing acute foreign exchange and energy challenges.

This is according to the data from the National Bureau of Statistics. Read more here

National Assembly Lauds Dangote Sinotruk's Vehicle Plant

Dangote Sinotruk West Africa has been commended by the National Assembly for its commitment to Nigeria’s economic development through investment in a vehicle assembly plant in the country.

According to a statement, Tokunbo Abiru,  the Chairman, Senate Committee on Industry, said with Dangote Sinotruk West Africa, Nigeria’s path to self-reliance in vehicle assembling, had begun. Read more here

These are the latest Business news that made trends during the week. Visit our website https://allnews.ng for more Business news around the world