Connect with us
nairametrics
UBA ads

Business News

Grief Nigeria to delist from NSE

Greif Nigeria Plc has announced its plans to delist from the Nigerian Stock Exchange (NSE). #GRIEF # DELIST

Published

on

Grief Nigeria wants to delist from NSE months after suspending operation 

Greif Nigeria Plc has announced its plans to delist from the Nigerian Stock Exchange (NSE). The manufacturer of steel drums and plastic containers took the decision 11 months after it suspended its operation.

Greif Nigeria’s intention was disclosed in a statement published on the website of the NSE. The decision has not been finalised as the company will seek approval at its Extraordinary General Meeting slated for January 23, 2020.

UBA ADS

Aside from delisting from the stock exchange, Greif Nigeria also plans to sell its assets in Nigeria for a price that will be determined by the company’s board. It will also recommend that the Register of Members and Transfer Books be closed from 23rd to 24th December 2019.

The statement read“The company’s land and buildings known and designated as factory at No. 1, Alapata Road, Apapa, Lagos and residence at No. 3/5 Barracks Road, Apapa, Lagos be sold at a price and upon such terms and conditions negotiated and determined by the board. 

“The company’s shares would also be delisted from the Nigerian Stock Exchange as the board has been authorised to take such steps or actions and to do all things as may be necessary to give full effect to the above-mentioned resolutions.”

GTBank 728 x 90

Grief Nigeria wants to delist from NSE months after suspending operation 

[READ MORE: Dangote Flour Mills officially delists from NSE)

Delisting request expected: Nairametrics had reported that Greif Nigeria was operating at a loss. It had been having sales problem, which it said didn’t improved. This led to the suspension of its operation.

Deal book 300 x 250
onebank728 x 90

The firm’s Chairman, Adebayo Olowoniyi, in the company’s 2018 full-year statements, said, “We have tried to navigate this difficult business terrain by recovering our costs through multiple price increases to our customers, cost reduction initiatives and improved efficiencies. However, we have not succeeded in that. We have lost our most important customer, halfway through the year and had to reduce prices to retain volumes, not fully recovering costs.”

Patricia

Olalekan is a certified media practitioner from the Nigerian Institute of Journalism (NIJ). In the era of media convergence, Olalekan is a valuable asset, with ability to curate and broadcast news. His zeal to write was developed out of passion to shape people’s thought and opinion; serving as a guideline for their daily lives. Contact for tips: [email protected]

Click to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Entertainment

FG approves 60% debt forgiveness for licensed radio and television stations  

The effective date of the debt forgiveness shall be July 10 – October 6, 2020. 

Published

on

FG reiterates commitment to implement reform of broadcasting code , Economy: FG restates commitment to border closure, FG releases new broadcast media regulation to affect DStv’s monopoly 

The Nigerian government granted a 60% debt forgiveness to all licensees indebted to the National Broadcasting Commission (NBC). The move was an additional step to the 2 months license fee waiver granted to the industry as a palliative to deal with the effects of the COVID-19 pandemic. 

Minister of Information, Lai Mohammed, said the measures were put in place as a result of the report submitted by the post-COVID-19 initiative committee for the creative industry. 

UBA ADS

He added that many radio and television stations remain indebted to the government to the tune of N7.8 billion. 

The Minister added that the debt forgiveness will not apply to pay-TV service operators but to only terrestrial TV and radio stations in the country.

GTBank 728 x 90

He added that the criterion for enjoying the debt forgiveness is for the debtor to pay 40% of their existing debt within 3 months. Any station that is unable to pay the 40% indebtedness within 3 months window shall forfeit the opportunity. 

Existing license fee is discounted by 30% for all open terrestrial radio and television services effective July 10. 

The effective date of the debt forgiveness shall be July 10 – October 6, 2020. 

onebank728 x 90

Patricia
Continue Reading

Coronavirus

Covid-19: Scientists ask WHO to revise recommendations as new evidence emerges 

Researchers plan to publish in a scientific journal next week, an open letter to WHO.

Published

on

coronavirus, COVID-19: Infections rise to 42 as 2 new cases are confirmed, COVID-19: Western diplomats warn of disease explosion, poor handling by government

Hundreds of scientists have asked the World Health Organization (WHO) to revise its recommendation for the novel coronavirus pandemic, after they discovered new evidence suggesting that air-borne smaller particles of the virus can infect people. 

The WHO had disclosed that the coronavirus disease spreads primarily from person to person through small droplets from the nose or mouth, which are discharged when a person with the coronavirus disease coughs, sneezes or speaks. 

UBA ADS

According to the scientists whether the virus is carried by large droplets that zoom through the air after a sneeze or by much smaller exhaled droplets that may move quietly through the length of a room, the coronavirus is borne through air and can infect people when inhaled. 

Researchers plan to publish in a scientific journal next week, an open letter to WHO by 239 scientists in 32 countries, where they outlined the evidence showing that smaller particles can infect people. 

However, the United Nations health agency has said that the report from the scientists that the virus is airborne was not convincing.  

GTBank 728 x 90

According to the WHO technical lead for Infection Prevention and Control, Dr Benedetta Allegranzi, ‘’Especially in the last couple of months, we have been stating several times that we consider airborne transmission as possible but certainly not supported by solid or even clear evidence.”  

It can be recalled that WHO said over the weekend that it was stopping its trials of the malaria drug hydroxychloroquine and combination HIV drug lopinavir/ritonavir on hospitalized patients with the coronavirus disease after they failed to reduce the death rate. 

The setback came as the WHO reported more than 200,000 new cases of the disease globally, the first time in a single day. 

onebank728 x 90

 

Patricia
Continue Reading

Coronavirus

FCMB shuts contact centre locations due to COVID-19 scare

Other banks have recently had to shut down their branches due to public health concerns caused by COVID-19.

Published

on

FCMB contact centre

First City Monument Bank (FCMB) Limited informed its customers, yesterday, that its contact centre locations have all been temporarily shut down following COVID-19 scare.

A brief statement that was issued via Twitter emphasised that the general shutdown of the physical locations is only a temporary and precautionary measure aimed at preventing further spread of the contagious virus. The statement, however, did not clarify whether there have been any reported cases of infection at these contact centre locations.

UBA ADS

“Dear Customers, we trust you are doing well and staying safe. We would like to inform you about the temporary closure of one of our Contact Centre locations as a precautionary measure to curtail the spread of COVID-19 and protect our employees,” part of the statement said.

Meanwhile, customers were informed that FCMB’s contact centres will remain active in the meantime, albeit virtually. However, customers may experience delays prior to being attended to. Customers were also advised to explore the self-help options offered by the bank’s electronic banking channels in order to resolve their challenges.

GTBank 728 x 90

Nairametrics understands that some of the bank’s customers have been experiencing some ‘not so great’ customer service over the past few weeks. One of these customers, who chose not to be named, confirmed this to Nairametrics. Reacting to the statement by the bank, the customer said:

“This statement explains why the bank has not been responding to complaints across all its channels. For at least 4 weeks now, they don’t respond to emails, WhatsApp messages or DMs. I have some funds that they have not reversed in like 4 weeks now. If you check Twitter, you will see so many similar complaints.”

Recall that some other banks have had to close down their branches due to the same reason given by FCMB. Just recently, Jaiz Bank Plc shut down its Ikeja branch for disinfection. Weeks before that, Wema Bank also confirmed that two of its branches were temporarily shut down after two staff became infected with the virus.

onebank728 x 90

Patricia
Continue Reading