Business News Round Up From September 5- September 9, 2022

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

First Bank To Host FMDA Quarterly Meeting In September

First Bank of Nigeria Limited has revealed that it will host the Financial Markets Dealers Association’s (FMDA) quarterly meeting in Lagos in September.

The bank said in a statement that the event themed, ‘Nigeria macroeconomic developments and outlook: IMF view’, would have its keynote address delivered by the IMF Resident Representative for Nigeria, Ari Aisen. Read more here.

Customers Pay N92.2 Billion Charges For PoS Transactions In Seven Months

For the first seven months of 2022, bank customers paid about N92.2 billion charges for transactions on Point of Sales terminals.

The data obtained from Nigeria Inter-Bank Settlement System shows that PoS transactions in the first seven months of the year totalled N4.61 trillion, and a fee of N100 is often charged on transactions between N1,000 to N5,000 which brings the total cost charged for PoS transactions within the period to about N92.2 billion. Read more here.

H1 22: GTCO Plc Records N103.2 Billion Profit

For the half year ended June 2022, Guaranty Trust Holding Co Plc has recorded a profit before tax of N103.249 billion, indicating a 10.95% year-on-year increase.

According to the Bank’s unaudited half-year financials submitted to the Nigeria Exchange Limited (NGX), profit after tax stood at N77.557 billion from N79.414 billion recorded in 2021, which reflects a marginal drop of 2.34%. Read more here.

Schneider Electric Harps On Need To Maintain Quality Electrical Products

An Electricity firm, Schneider Electric has commenced an outreach programme to sensitise the marketers at the Alaba International Market, Lagos on the need to maintain the sale of quality electrical products to avoid any form of disaster.

According to a statement, Christophe Begat, the Managing Director of Schneider Electric, said the campaign became necessary because counterfeit products often jeopardised consumers’ health and safety. Read more here

420 SMEs Get 84 Million Cash Grant From Bayelsa Government

A cash grant of N84 million has been disbursed to 420 Small and Medium Scale Enterprises (SMEs) operators by the Bayelsa State Government.

The cash grant was given to SME operators who are indigenes of the state, where each of the beneficiaries gets N200,000 for June and July. 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