Tolaram Africa, a consumer packaged goods company with about five-decade presence in Africa, has acquired a major stake in Guinness Nigeria. Updating the Nigerian Exchange Group of recent development within the bank, Diageo’s Company’s Secretary, Abidemi Ademola, said the terms of an agreement for the acquisition of the...
BUSINESS
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has executed a Project Development Agreement (PDA) with Golar LNG for the deployment of a Floating Liquefied Natural Gas (LNG) offshore Niger Delta, Nigeria. Olufemi Soneye, Chief Corporate Communications Officer, NNPC Ltd. in a statement on Tuesday said the agreement was...
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) in collaboration with Sterling Bank Ltd., on Monday, unveiled five billion naira initiative-Databanc loan to address financial gaps for small businesses. The News Agency of Nigeria (NAN) reports that the initiative was launched in Lagos with the theme:...
By MBAFAN ADE, Abuja – The Nigerian National Petroleum Company Limited (NNPC Ltd), has expressed dismay over a report in a section of the media alleging that it inflated subsidy claims by N3.3trillion. A statement issued in Abuja by the company’s Chief Corporate Communications Officer, Olufemi O. Soneye, state...
By OLA MODUPE, Lagos – Leading ICT company, MTN Nigeria has announced the 17th edition of its flagship employee volunteer initiative, Y’ello Care, where MTNers have the unique opportunity to contribute their resources – time, money and more – towards worthy causes. Themed “Learn Today, Lead Tomorrow”, this...
Air Peace has announced the extension of its schedule availability for the Lagos-London-Lagos route, with flights now bookable until March 2025. This is contained in a statement by a Senior Communications Officer of the airline, Mr Efeoghene Osifo-Whiskey on Saturday in Lagos. The airline stated that its London...
The Naira on Friday recorded loss at the official market, trading at N1,483.99 to the dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that the Naira lost N2.50. This represents a 0.16 per...
The Domestic Airports Cargo Agents Association (DACAA) has estimated that Nigeria lost about N7 billion during the two-day workers’ nationwide strike. The strike was embarked on by Nigerian workers under the auspices of the Nigeria Labour Congress and the Trade Union Congress on Monday and Tuesday. ...
The Airline Operators of Nigeria (AON) on Thursday applauded the federal government’s suspension of the 300 dollars helicopter landing and take-off levy as a step in the right direction. The AON made this known in a statement signed by its Spokesperson, Prof. Obiora Okonkwo, in Lagos. ...
Yobe Microfinance Bank says it has initiated a N150 million facility to enable its customers purchase animals for sacrifice during the Eid el-Adha celebration. The Managing Director/Chief Executive Officer (CEO) of the bank, Dr Sheriff Almuhajir, stated this in an interview with the News Agency of Nigeria (NAN),...
Moniepoint MFB, an African financial institution, says it has relaunched its personal banking referral programme to enrich its customers. The Managing Director of Moniepoint MFB, Mr Babatunde Olofin, said this in a statement on Thursday in Lagos. Olofin said the referral programme was designed to reward users every...
By MBAFAN ADE, Abuja – The NNPC Engineering and Technical Company (NETCO), a subsidiary of the Nigerian National Petroleum Company Limited (NNPC Ltd), has announced a 137 per cent increase in operating profits for the year 2023. This was disclosed by the Chairman of the company’s Board of Directors...
Customers of the liquidated Heritage Bank Plc gathered at the bank’s headquarters in Lagos on Wednesday, to seek clarification on the beginning of their deposit payments. A visit by a News Agency of Nigeria (NAN) correspondent on Wednesday revealed that security personnel stationed at the bank’s entrance prevented...
Fidelity Bank Plc says it has concluded plans to raise N127.1 billion by way of rights issue to existing shareholders and a public offer, which is a combined subscription. The bank said this in a statement made available to newsmen on Wednesday in Lagos. It said that the combined...
The Nigeria Deposit Insurance Corporation (NDIC), has said it would begin payment of insured sum to 2.3 million depositors of Heritage Bank in-liquidation this week. The Managing Director of NDIC, Mr Bello Hassan, said this while briefing newsmen in Abuja on Wednesday. Hassan said the bank had preliminary deposits...
The Central Bank of Nigeria (CBN) has debunked reports alleging that it plan to revoke the licences of more Deposit Money Banks (DMBs). Some reports making the rounds on social media have alleged that the Apex bank plans to revoke the licences of Unity, Keystone and Polaris...
An Economist, Mr Abba Adaudu, has decried the revocation of the licence of Heritage Bank by the Central of Nigeria (CBN) due to a breach of banking regulations. Adaudu, who is also a financial consultant, spoke with the News Agency of Nigeria (NAN) on Tuesday in Abuja. He...
FirstBank has won two awards by emerging Best SME Bank in both Nigeria and Africa at the Asian Banker Global Excellence Retail Awards 2024. FirstBank Group Head, Marketing and Corporate Communications, Ms Folake Ani-Mumuney, in a statement on Monday while expressing her delight, dedicated the two awards to...
FBN Holdings Plc declared N238.53 billion profit before tax (PBT) in its unaudited first quarter (Q1) ended March 31, 2024 results, which was about 325.2percent growth from the N56.1 billion reported in Q1 ended March 31, 2023. The Q1 2024 results was a reflection of 2023 impressive...