CATEGORY: COMPANIES

All the major economic news from Nigeria in 5 minutes-27/7/2017

All the major economic news from Nigeria in 5 minutes-27/7/2017

Summary of the top business, economic and political news in Nigeria today. The Economic and Financial Crimes Commission(EFCC) says its Kano Office has recovered...


All the major economic news from Nigeria in 5 minutes-26/7/2017

All the major economic news from Nigeria in 5 minutes-26/7/2017

Summary of the top business, economic and political news in Nigeria today.   Top cocoa producers in West Africa may not be able to...


Guinness Nigeria N40 billion rights issue: Facts behind the issue

Guinness Nigeria N40 billion rights issue: Facts behind the issue

Guinness Nigeria Plc yesterday presented a detailed breakdown of its plans to raise N39,700,688,598  by way of rights issue to its existing shareholders. The...



Board Games: Unity Bank, Veritas musical chairs with UnityKapital Assurance

Board Games: Unity Bank, Veritas musical chairs with UnityKapital Assurance

UnityKapital Assurance Plc in a notice sent to the Nigerian Stock Exchange (NSE) on Tuesday announced the divestment of Unity Bank’s holdings in the...


All the major economic news from Nigeria in 5 minutes-25/7/2017

All the major economic news from Nigeria in 5 minutes-25/7/2017

Summary of the top business, economic and political news in Nigeria today. Suspected militants on Monday vandalised the Trans-Niger pipeline in Ogoniland in the...


Forte Oil to eliminate “I better pass my neighbour” with new alternative energy product

Forte Oil to eliminate “I better pass my neighbour” with new alternative energy product

In an exclusive tweet chat yesterday with Nairametrics, Mr Akin Akinfemiwa Group CEO of Forte Oil Plc discussed several issues relating to his company,...


All the major economic news from Nigeria in 5 minutes – 24/7/2017

All the major economic news from Nigeria in 5 minutes – 24/7/2017

Summary of the top business, economic and political news in Nigeria today.   The International Monetary Fund (IMF) projects that Nigeria’s economy will grow...


Arewa cotton partners Cross River government on cotton farm

Arewa cotton partners Cross River government on cotton farm

Cross state government, in a move to reduce its reliance on FAAC allocations has gone into partnership with Arewa cotton. The farm is expected...


BUA Group, Virgin, Vodacom said to be in the race to buy 9Mobile

BUA Group, Virgin, Vodacom said to be in the race to buy 9Mobile

A recent newspaper report in Nigeria suggest Virgin Mobile, BUA Group and Vodacom are lining up bids to buy Nigeria’s 9mobile (formerly known as...


Flour Mills increases shareholding in Rom Oil Mills to 95%         

Flour Mills increases shareholding in Rom Oil Mills to 95%         

In a notice sent to the Nigerian Stock Exchange (NSE) this week, Flour Mills Nigeria (FMN) announced the acquisition of an additional 5% stake...


FIRS raids SME’s across 3 states for not paying tax

FIRS raids SME’s across 3 states for not paying tax

In what appeared to be a major raid during the week, the Federal Inland Revenue Service sealed off some tax-defaulting companies in Abuja. According...


All the major economic news from Nigeria in 5 minutes 21/7/2017

All the major economic news from Nigeria in 5 minutes 21/7/2017

Summary of the top business, economic and political news in Nigeria today. The Lagos Chapter of the Chartered Institute of Bankers of Nigeria (CIBN)...


Skye bank states its own side of alleged $793 million TSA funds

Skye bank states its own side of alleged $793 million TSA funds

Skye bank, one of 7 alleged to have withheld $793 million Treasury Single Account (TSA) funds, has released a statement denying any form of...


Four takeaways from Wema Bank’s H1 2017 Conference call

Four takeaways from Wema Bank’s H1 2017 Conference call

Tier two lender, Wema Bank yesterday held a conference call in respect of it’s just released Q2 2017 results. A conference call is a...


Fidelity and Sterling Banks deny involvement in $793 million unremitted TSA funds

Fidelity and Sterling Banks deny involvement in $793 million unremitted TSA funds

Fidelity bank and Sterling bank, 2 of the 7 banks facing charges over $793 million unremitted TSA funds have issued statements concerning the matter....


All the major economic news from Nigeria in 5 minutes 20/7/2017

All the major economic news from Nigeria in 5 minutes 20/7/2017

Summary of the top business, economic and political news in Nigeria today. Worried about the grave economic implication of Nigeria’s suspension from the EGMONT...


Nigerian Company reports 99% drop in Cocoa butter exports

Nigerian Company reports 99% drop in Cocoa butter exports

Nigeria’s sole cocoa export company trading on the floor of the Nigerian Stock Exchange reported a 99% drop in export sales for the period...


For how long does the new 9Mobile plan to stay?

For how long does the new 9Mobile plan to stay?

With the rebranding of the Etisalat Nigeria brand into 9Mobile Telecoms, it seems that the company was eventually shedding off the debt-plagued skin it...


Why Afriprudential Plc is a short term buy

Why Afriprudential Plc is a short term buy

Afriprudential Plc yesterday released its 2nd quarter 2017 results, and they are fantastic. Profit before tax increased from N605 million in 2016 to N950...


Innoson moves into the big league with export of cars to Mali

Innoson moves into the big league with export of cars to Mali

Innoson moves into the big league with export of cars to Mali In what is a major stamp of approval for its products, Innoson...


UBA share cancellation explained….. but questions remain

UBA share cancellation explained….. but questions remain

United Bank of Africa, (UBA), announced earlier in the week that it had obtained shareholder approval to cancel over 2 billion ordinary shares held...


All the major economic news from Nigeria in 5 minutes-19/7/2017

All the major economic news from Nigeria in 5 minutes-19/7/2017

Summary of the top business, economic and political news in Nigeria today. Corporate Affairs Commission (CAC), in Abuja on Tuesday shut down business activities...


Guinea Insurance and Fortis Microfinance bank say late results not their fault

Guinea Insurance and Fortis Microfinance bank say late results not their fault

Two of the 17 companies that were recently suspended by the Nigerian Stock Exchange (NSE) for late submission of results have blamed their primary...


Reasons behind the Uber Germaine Auto partnership

Reasons behind the Uber Germaine Auto partnership

Ride sharing app Uber has gone into partnership with Germaine Auto, a car sale and maintenance company. Under the partnership, Uber Nigeria drivers can...


These 2 insurance companies are running on empty

These 2 insurance companies are running on empty

Management of Guinea Insurance Plc and African Alliance may presently be at their wit’s end as both companies are operating below minimum statutory requirements....


CBN extends its support for Skyebank to 2018 after N100bn bailout         

CBN extends its support for Skyebank to 2018 after N100bn bailout         

The Central Bank of Nigeria (CBN) has extended financial support for Skyebank till next year. The  bank in a statement, said it was still...


Windfall as UBA “buys back” 2 billion shares worth N20.1 billion

Windfall as UBA “buys back” 2 billion shares worth N20.1 billion

In a notice sent to the Nigerian Stock Exchange, UBA announced the cancellation of 2,080,194, 955 shares held by staff under the Staff Share...


All the major economic news from Nigeria in 5 minutes – 18/7/2017

All the major economic news from Nigeria in 5 minutes – 18/7/2017

Summary of the top business, economic and political news in Nigeria today.   Acting President Yemi Osinbajo has pledged to grant tax relief for...


ChapelHill Denham launches first series N200 billion Nigeria infrastructure debt fund

ChapelHill Denham launches first series N200 billion Nigeria infrastructure debt fund

ChapelHill Denham yesterday launched the first series of its N200 billion Nigeria Infrastructure Debt Fund (NIDF). The fund is reputed as the first-ever listed...


These 8 female bank directors are leading the way in boards full of men

These 8 female bank directors are leading the way in boards full of men

The great...