Century Petroleum confirms reverse merger with Ibeto Group

Century Petroleum has confirmed that it has entered into a binding letter of agreement with Ibeto Cement Company Limited. In the agreement which outlines the proposed...

Peugeot confirms Dangote’s plans to build new assembly plant.

The representative of Peugeot Automobile France in Nigeria, Eric Maydiey, has given reasons why the automobile company granted Dangote Group the franchise to construct and...

Shareholders approve Forte oil restructuring plans

Shareholders of Forte Oil Plc have approved the company's plan to restructure its business operations. At the 39th Annual General Meeting (AGM) in Lagos, shareholders...

Banks explain why they have no confidence in a ‘Teleology owned’ 9 Mobile

Nigerians Banks have expressed reservations at 9 Mobile's ability to remain viable post-acquisition by Teleology. Banks are concerned of the sustainability of 9 Mobile...
Femi Otedola Chairman Forte Oil Plc

Forte Oil’s proposed business restructuring could be upsetting some shareholders

Apprehension is said to be building up as stakeholders of Forte Oil Plc meet next week Monday for the company's Annual General Meeting (AGM)....
Mary Uduk

SEC: Unity Bank, Milost Global deal still under investigation

The Securities and Exchange Commission (SEC) on Monday said it is still investigating the alleged one billion dollars investment in Unity Bank Plc by...

Seplat has been accused of violating local content policy

The Nigerian Content Development and Monitoring Board (NCDMB) has ordered Seplat Petroleum Development Company Plc to suspend work on its ANOH Gas Plant project...
Dr. Akinwnmi Adesina,

AfDB loans Indorama $100 million for expansion.

The African Development Bank (AfDB) has approved a $100 million senior loan to Indorama Eleme Fertilizer & Chemicals Limited. A senior loan is a loan issued to a company or individual...
Oshiokamele Aruna

Meet Oshiokamele Aruna, Tetra Pak’s first Nigerian Managing Director

Tetra Pak West Africa has announced the appointment of Oshiokamele Aruna as its new Managing Director. He is the First Nigerian to be named the...
Sheikh Ahmed bin Saeed Al Maktoum

Emirates Group posts US$1.1 billion profit for full year 2017/2018 report

The Emirates Group have announced its 30th consecutive year of profit and steady business expansion. In its 2017-18 Annual Report, the Emirates Group posted a...

CBN says banks will repay excessive charges on customers with interest

Sequel to repeated complaints from bank customers of excessive charges by their banks on withdrawals from Automated Teller Machine (ATM), the Central Bank of...
Mary Uduk

SEC reveals plans to ease trans border listing

Securities and Exchange Commission SEC has revealed plans by the West African Securities Regulatory Authorities (WASRA) to harmonize existing rules used by the capital...
Mr. Godwin Emefiele,

CBN reveals how much Nigeria spends on fuel importation

The Central Bank of Nigeria CBN has revealed that a total of $36.371billion was spent on the importation of petroleum products into the country...
Emeka Emuwa CEO, Union Bank

Union Bank explains delay in the release of financial result

Union Bank Plc has joined the growing list of quoted companies yet to release their financial result for the year ended December 2017. In a...
AMCON

AMCON gives conditions to return seized airlines to owners

The Asset Management Corporation of Nigeria (AMCON) says it is willing to hand over ownership of Arik Air and Aero Contractor airlines if the...

NNPC, States meet over underpayment into Federation Account

The Federation Account Allocation Committee meeting, which was scheduled to hold yesterday to consider as well as approve statutory allocation for the month of...

UPDC Plc appoints new acting Managing Director

UACN Property Development Company UPDC Plc has announced that its Managing Director, Hakeem Ogunniran will proceed on a retirement leave on May 1, 2018,...
Okechukwu Enelamah

This is how much fake products could be costing the government

The Federal Government and its regulatory agencies have been called on to implement measures aimed at eradicating the prevalence of counterfeiting in Nigeria's Fast Moving...

Jaiz Bank bullish on non-interest banking

Managing Director, Jaiz Bank, Alhaji Hassan Usman has expressed satisfaction with the level of acceptance of non-interest banking in the country. Usman noted that...

Adeosun defends Nigeria’s growing debt profile using the metric economists hate to love

Minister of Finance, Kemi Adeosun has assured that Nigeria’s debt level was still sustainable and under control. Reacting to comments credited to IMF Managing Director...

These are some of the best “Lazy Nigerian Youth” response to Buhari

Nigerians have reacted to the comments made by President Muhammadu Buhari at Commonwealth Business Forum in London accusing much Nigerian youth of laziness. Speaking at the...

Jumia posts record sales of N225.2 billion in 2017, up 41.8%

Jumia, one of Africa's leading e-commerce platform has released its full-year 2017 financial statements results. The result shows a Gross Merchandise Volume GMV  growth from...

mSurvey secures $3.5 million Series A funding

The mobile-first consumer feedback platform for businesses and consumers in Africa mSurvey has announced a Series A funding round of $3.5 million, the new funding...

Buhari explains what he wants from Commonwealth States

President Muhammadu  Buhari has used the opportunity of the ongoing Commonwealth Business Forum to call on member states to come up with more beneficial...

Wema Bank to raise additional ₦20 billion in bond sale.

Wema Bank has revealed plans to raise an additional ₦20 billion from the bond market in July this year. This will be its second debt...

UBA has big plans for its African subsidiaries

United Bank for Africa, UBA, says it has injected $100 million into some of its African subsidiaries. UBA Chief Financial Officer Ugochukwu Nwaghodoh listed the...

GT Bank Plc posts N52.6 billion profit in Q1 March 2018

Guaranty Trust Bank Plc has released its financial statements for the period ended Q1 March 31st 2018. Here are the highlights:   Net Interest Income: Q1 2017: ₦66,129...

Beta Glass Plc announces changes in Management

Beta Glass PLC has announced the resignation of two of its directors:  Mr. Olaolu Akerele and Chief Christopher Aviele. The resignations take effect from...

Smart Products Ltd (Associated Press Limited) posts ₦43 billion in 2017

Smart Products Plc (formerly Associated Press Limited)has released its Full year 2017 financial statements results. Highlights of the results: Gross Revenue 2016: ₦49.8 million 2017: ₦43.95 million % change: -11.7% Profit...

Guinea Insurance releases Q1 2018 result posts 4% revenue increase

Guinea Insurance Plc has released its Q1 2018 financial results. Here are the highlights Revenue: Q1 2017: ₦270.9 million Q1 2018: ₦281.6 million %Change: 4% Profit before tax: Q1 2017: -₦31.6...
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