Loan scam: Lekoil Limited seals payment extension deal to prevent losing oilfield
Weeks after Lekoil Limited was submerged in a loan scam, the company has secured a postponement agreement to keep its shares
Flutterwave raises $35 million to expand operations
Flutterwave has disclosed expansion plans to Francophone and northern Africa as it raises a $35 million Series B round.
Blueprint Consulting denies involvement in N574 million fraud
Blueprint Consulting has denied its involvement in a scheme organised by one of its partners through which 354 forex trade investors were defrauded of N574.2 million.
FSD Africa invests $3.2 million in two African fintech firms operating in Nigeria
Two fintech companies in Africa, MFS Africa and Frontclear, have secured $3.2 million worth of investments from FSD Africa Investments.
Konga’s CEO discloses secrets of firm’s huge growth
The Co-CEO of Konga, Prince Nnamdi Ekeh has disclosed how the company made it into becoming a clear leader in the competitive e-commerce market.
Here’s why Continental Reinsurance is delisting from NSE
Continental Reinsurance Plc has reverted to a private limited liability company after two decades of operating as a public limited liability company.
Hyundai partners Kia to invest €100m in electric vehicles
Hyundai Motor Company has partnered with Kia Motors Corporation to jointly invest in the manufacturing of electric vehicles.
GTBank’s CEO gives outlook for 2020, talks changing competitive market landscape
The Group CEO of GTB, Segun Agbaje, does not see the potential of Nigeria’s GDP growth figure going beyond 2% in the next twelve months.
Union Bank issues series 3 & 4 Commercial Paper, to raise N20 billion
Union Bank Plc is set to raise an additional N20 billion by issuing series 3 and 4 into the domestic capital market.
Samsung discloses why it chose Nigeria as investment spot
The Nigerian subsidiary of Samsung Heavy Industries has explained the reason the Asian company chose Nigeria as its first construction facility site.
Access Bank finally acquires Kenyan bank, Transnational Bank Plc
Access Bank has finally acquired 100% of Kenya’s Transnational Bank Plc and its 28 branches after receiving final approval from CBK.
GTBank crashes ‘Quick credit’ to 1.33% monthly
Guaranty Trust Bank, Nigeria's largest bank by market capitalization, has crashed its interest rate for its payday loans from 1.75% to 1.33% per month. The bank reviewed its rate, which is published on its website, as it becomes one of the lowest in the lending space. #GTBANK
DStv earns most preferred pay Tv recognition during festive season
The Nigerian Entertainment Today (theNETng), in its latest report, has declared MultiChoice Nigeria’s DStv and GOtv platforms as the nation's preferred Pay TV service providers for home entertainment. #DStv #theNETng
PZ Cussons Nigeria Plc appoint new Company Secretary, as Laseinde takes a bow
The Board of Directors of PZ Cussons Nigeria Plc has announced the appointment of Mrs Jacqueline Ezeokwelume as the company's new secretary.
Flour Mills plans to issue N20 billion fixed rate bonds
Flour Mills of Nigeria Plc just announced a planned issuance of a N20 billion medium-term bonds which will be subject to appropriate pricing.
Tax debt: Dwindling fortunes of WEMPCO Steel Mill
WEMPCO Steel Mill Limited is close to shutting down after the Federal Inland Revenue Service (FIRS) placed a lieu on the company’s account. #WEMPCO #FIRS
Unilever Nigeria Plc appoints new Managing Director
The Board of Directors of Unilever Nigeria Plc has notified NSE of the appointment of Mr Carl Raymond R. Cruz as the Company’s new MD.
Seawave Invest Ltd says it is open to investigation over Lekoil’s loan scam
Days after the validity of Lekoil Ltd's $184 million loan became questionable, the company that brokered the deal said it is open to investigation.
Access Bank to establish subsidiary in Cameroon
Access Bank is set to establish a subsidiary in Cameroon, three months after acquiring a bank in Kenya. The Nigerian lender said it had finalised its expansion move to the Central Africa state, as it had received approval from the Central Bank of Nigeria (CBN).#ACCESSBANK,#CAMEROON,#CBN
Lekoil’s stock drops by 73% on London Stock Exchange
The alleged loan scam rocking Lekoil Limited has eaten deep into the fabrics of the firm's shares, as the stock down by 73%, when it closed at 2.50 pence on the London Stock Exchange on Tuesday. #LEKOIL, #LSE
Tesla Inc: Elon Musk nears $346 million paycheck
Elon Musk, the Chief Executive of Tesla Inc is closer to receiving the first $346 million tranche of options in a record-breaking pay package.
Champion Breweries Plc appoints new Managing Director
The Board of Champion Breweries Plc has notified the NSE of the appointment of Mr Georgios I. Polymenakos as the Company’s Managing Director.
Eterna Plc appoints new Executive Director
The Board of Eterna Plc has notified the NSE of the appointment of Nnamdi Obiagwu as the Company’s Executive Director/Chief Operating Officer.
Barcelona overtakes Real Madrid on biggest earners’ list
Real Madrid have lost its position to Spanish League rival, Barcelona, on the list of the highest-earning football clubs in the world.
Old Mutual’s sacked CEO has just lost a lawsuit against the company
A group of South African judges have ruled in favour of Old Mutual Limited in a case filed against it by its former CEO, Peter Moyo.
UBA announces closed period
UBA has announced its closed period for the preparation of its Audited Financial Statements and Reports for the year ended December 31, 2019.
Visa to acquire fintech company, Plaid, for $5.3 billion
Popular payments company, Visa, has announced that it is acquiring fintech startup, Plaid, in a deal worth $5.3 billion. #PLAID #VISA
LSE suspends Lekoil’s shares over $184 million loan source
The shares of Nigerian-based oil company, Lekoil Limited, has been suspended from trading at the London Stock Exchange’s ‘AIM’.
Nairametrics invites you to its 2020 Economic Outlook Hangout
Nairametrics is pleased to announce its 2020 Economic Outlook Hangout. The event will hold this Saturday, January 18th, by 10 am prompt.
Border closure: A boost to our clientele base – Palm Oil producer
Managing Director/CEO, Okomu Oil Palm Plc, Graham Hefer, said the closure of the borders has been a blessing to the palm oil industry, as he called for the exercise to continue. #OKOMUOIL,#BORDERCLOSURE
“The effect it has had on our local market share is that there have been some new companies requesting for Crude Palm Oil