Despite Recession, Banking Sector Loans to Customers Rise to N16.372trn Industry profit after tax rises to N452bn Banks bar power Discos over bad debts Obinna Chima in Lagos and Chineme Okafor in Abuja The audited results of 2016 for 14 banks quoted on the Nigerian Stock Exchange
(NSE) have shown a 22 per cent increase in total loans and advances to their customers from N13.315 trillion in 2015, to N16.372 trillion in the year under review.
The financial results of the banks reviewed by THISDAY showed deliberate efforts by the banks, mostly to support operators in the real sector of the economy.
Similarly, the total profit after tax (PAT) of the 14 banks rose marginally to N452 billion in 2016, up from the N442.451 billion recorded the previous year; just as their total gross
earnings climbed to N4.007 trillion in the reviewed year, as against the N3.441 trillion recorded in 2015. The banks' results reviewed were Zenith Bank Plc, Access
Bank, FBN Holdings, United Bank for Africa Plc (UBA), Guaranty Trust Bank Plc, First City Monument Bank, Continued on page 8
FG Resumes Payment into Excess Crude Account with $87m…
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Adeniyi Clarifies Encounter with Jonathan Fresh account says Osinbajo was nominated by govs, senators Olawale Olaleye The author of the book, Against the Run of Play, Mr. Olusegun Adeniyi, has clarified his encounter with former President Goodluck Jonathan, saying that he took adequate care to ensure a fair and accurate presentation of the former president’s views in the book. Continued on page 8
A NEW HEALTH CENTRE FOR WOMEN…
L-R: Consultant, International Radiologist and Fibroid Embolization Specialist, Birmigham Heartlands Hospital, UK, Dr. Paul Crowe; CEO, Reddington Hospital, Dr. Adeyemi Onabowale; Ondo State governor's wife, Mrs. Betty Akeredolu; wife of Vice President, Mrs Oludolapo Osinbajo; Mrs Onabowale and wife of Oyo State Governor, Mrs Florence Ajimobi, during the inauguration of the Breast & Gynea Centre, a new addition to Reddington Group in Lagos… yesterday abiodun ajala
Angry Workers Protest as Oshiomhole Explains Tough Economic Conditions
Former Edo gov says APC-led FG pro-poor Labour demands implementation of new minimum wage Saraki, Dogara, Ngige, leave Abuja rally FG to set up minimum wage committee Omololu Ogumade and Senator Iroegbu in Abuja, Chinedu Eze in Lagos Angry workers yesterday
protested the tough economic conditions in the country, disrupting the rally organised to commemorate the May Day at the Eagle Square, Abuja.
The workers complained about what they described as the insensitivity of the Federal Government to their plight, describing the absence
of President Muhammadu Buhari and Vice President Yemi Osinbajo at the rally as ample evidence of their disregard for labour.
Their protest forced very important dignitaries, including the Senate President, Dr. Bukola Saraki; Speaker of the House of Representatives, Hon. Yakubu
Dogara; Minister of Labour and Productivity, Senator Chris Ngige; and former governor Continued on page 8
Oando Posts N1.7 Billion PAT, Raises Revenue By 116%…
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