Companies

All the latest Nigerian company news, market intelligence and analysis

Internet World Stats, Nigerian Communications Commission remittance, Network operators in Nigeria, Telecoms companies in Nigeria, MTN Nigeria, Airtel Africa, Globacom data, 9mobile court case, Why telcos should double $70 billion investments – NCC, Nigerian Communications Commission

Why telcos should double $70 billion investments – NCC

The Nigerian Communications Commission (NCC), has tasked licenced mobile network operators (MNOs) to double their telecom investments from $70 billion to $140 billion over the next 10 years.
FirstBank

Go cashless this summer with FirstBank Visa Multi-Currency Card

First Bank of Nigeria Limited, Nigeria’s premier and leading financial services provider, has introduced the Visa Multi-Currency Card, an All-in One-Card and first of its kind to be offered by any financial institution in Nigeria.
Bonds

Ecobank’s head office shut over workers’ sack

Ecobank workers under the auspices of the NUBIFIE, have shut down the headquarters of the bank in Lagos following the disengagement of about 1200 workers.
GlaxoSmithKline Nigeria Plc gets new Managing Director

GlaxoSmithKline Nigeria Plc gets new Managing Director

The Board of Directors of GlaxoSmithKline Consumer Nigeria Plc (GSK), has appointed a new Managing Director (MD). 
NSE lifts suspension on Lasaco Assurance, NSE suspend companies, NSE lift suspension, NSE lift suspension on Conoil, Conoil and SEC, LASACO proposes N0.05 dividend for FY 2018

LASACO proposes N0.05 dividend for FY 2018

The Board of Directors of insurance underwriter, Lasaco Assurance Plc, is proposing to pay its shareholders a dividend of 5k per share for full-year 2018.
Actress Chioma Akpotha drags 9mobile for "excessive charges"

Actress Chioma Akpotha drags 9mobile for “excessive charges”

A Nigerian actress went frantic after her mobile network 9mobile formerly known as Etisalat charged her the sum N15600 for a 303 seconds call.
OPay secures $50 million capital raise from Chinese investors

OPay secures $50 million capital raise from Chinese investors

Founded by Norwegian browser firm, OPay has secured a $50 million funding from Sequoia China, IDG Capital, and Source Code Capital.
Guaranty Trust Bank

GTBank Named Best Bank in Africa at Euromoney Awards

Guaranty Trust Bank Plc has been named the Best Bank in Africa 2019 by Euromoney at its annual Awards for Excellence, which held in London on Wednesday,
Internet World Stats, Nigerian Communications Commission remittance, Network operators in Nigeria, Telecoms companies in Nigeria, MTN Nigeria, Airtel Africa, Globacom data, 9mobile court case

Airtel and MTN Nigeria are sending bad signals from NSE to Glo, 9mobile

In May 2019, @MTNNG listed on the Nigerian Stock Exchange (@nsenigeria). The move was perceived by many as both an invitation and a challenge to other telecoms companies such as @GloWorld and @9mobileng to do the same.
SAHCO

SAHCO records N665.649 million loss for FY 2018

Skyway Aviation Handling Company Plc (SAHCO) has declared a Loss After Tax of N665.649 MILLION for the full year end 2018. 
Ecobank denies sacking staff

Ecobank responds to sacking 1200 workers

Responding to sacking about 1,200 of its workforce, @ecobank_nigeria said it only decided not to renew the contract it has with its third-party recruitment agencies.
Kaldi Africa, Nescafe, Nestle products, Cafe Neo, Coffee products in Nigeria

It’s time to break Nescafe’s two-decade grip on Nigeria’s coffee market

From homes to offices, the consumption of coffee has increased among Nigerians, blending into their lifestyles, particularly in the urban youth circles. There are just two coffee brands leading this drive within the country— @NESCAFE and others.
Fidelity Bank Plc

Fidelity Bank Plc confirms robbery incident at its Lekki branch

@fidelitybankplc has reacted to a viral video of a man captured by its CCTV, stealing a bag from a locker at its branch at Admiralty Way, Lekki area of Lagos.
Access Bank and She Leads Africa Training

Access Bank partners with She Leads Africa on Facebook Program for training Female Entrepreneurs...

@myaccessbank in partnership with @SheLeadsAfrica, has concluded the first phase of #SheMeansBusiness, a Facebook programme aimed at empowering female SMEs.
NNPC, IJV model, JV

There is corruption in NNPC -New boss admits

Mela Kyari, the new Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), has revealed that his administration at the corporation will tackle corruption with automation.
9mobile

Worrying trend as 9mobile loses over 3 million Subscribers in 2 years

There appears to be more worries for Nigeria's telecommunication network, 9mobile, as the company lost 3.49 million internet subscribers in the last two years.
Nigerian Stock Exchange

The Nigerian Stock Exchange performs well for the second time this week

The Nigerian Stock Exchange ended Tuesday’s trading session in positive territory. The All Share Index closed at 29,318.02 basis points, up 0.10%. Year to date, the index is down 6.72%.
Airtel's Listing

Did Airtel Africa’s listing drag MTN Nigeria’s shares down on the NSE?

MTN Nigeria performed poorly today on the Nigerian Stock Exchange, the same day its local rival, Airtel Africa, listed its shares on the Nigerian bourse in a cross border listing.
ExxonMobil debt of N684 billion for oil blocks renewal, Femi Falana petition against ExxonMobil, SPIP and ExxonMobil debt claims

ExxonMobil finds a foe in Femi Falana following the firm’s N684 billion debt mess

@exxonmobil is in a debt mess of N684 billion after the involvement of Human Right lawyer, Femi Falana in the company's financial transaction - but in a bid to clear its name, the company has left a trail of doubt in its path.
SEC, unclaimed dividends

SEC may not be able to impose N89.7 million fine on Oando anymore

Oando Plc has secured a leave from a Federal High Court seated in Lagos, for an order of certiorari for the purpose of quashing SEC's N89.7m fine.
Uber in Benin

Uber extends routes to Benin City to compete with Taxify

Multinational transportation network company, Uber is set to launch its services in Benin city in Edo state towards the end of July.
Access Bank Plc

Access Bank and Union Bank refute acquisition rumours, but history contradicts claims

Africa's largest lender by customer base, @myaccessbank, has reacted to media reports that it is planning to acquire @UNIONBANKNG less than six months after acquiring Diamond Bank Plc.
Green Energy International Limited, Otakikpo marginal field

How GEIL’s $350 million deal with international firms will be deployed

Green Energy International Limited (GEIL) has concluded a $350 million deal for the second phase development of the Otakikpo marginal field.
Zenith Bank Plc, First Bank Plc

Zenith Bank and First Bank hustle for one customer

@FirstBankngr and @ZenithBank hustle for one customer, @Akanimoh_Friday over @AMADICHIMA promised N20 million deposit to reactivate bank account.
Debonairs Pizza, LIRS,

Debonairs Pizza to open a new outlet after LIRS shut down

Barely five days after LIRS shut down the premises of Debonairs Pizza, the restaurant is set to open a new outlet for business.
RUGA

Peak Milk shows RUGA isn’t needed in Southern and Western Nigeria

Peak Milk's (@PeakMilk) latest business move in Niger State has reopened discussion regarding the Rural Grazing Area (RUGA) settlements for Fulani Herdsmen which was proposed by President Muhammadu Buhari.
Sports betting

Is sports betting gradually making Nigerian youths lazy?

There is an ongoing debate on Twitter on whether sports betting is truly a sustainable business model or simply a means some young entrepreneurs are using to eating down on the income of many young Nigerian.
Nigerian Breweries Plc, FMDQ, Nigerian Breweries to list Commercial Papers on FMDQ

Nigerian Breweries N15bn CPs: Investors to trade holdings on FMDQ

Nigerian Breweries Plc is set to list its ongoing N15 billion Commercial Papers (CPs) issuance on FMDQ OTC Securities Exchange.
University Press Plc board of directros, University Press Plc chairman, University Press Plc appointment

University Press’ Board undergoes changes as Chairman resigns

University Press Plc has announced the resignation of Dr. Lalekan Are, the company's Chairman of the Board of Directors. He also stepped down as a non-executive Director of the Company.
Fidson Healthcare Plc, Fidson list additional shares Fidson and GSK business partnership

Fidson Healthcare lists additional shares on NSE but falls short of capital target

@FidsonHealthPLC has listed more shares on @nsenigeria. The company disclosed the additional shares were listed by way of a Rights Issue, however, the targeted capital was not raised.

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ENI

ENI’s MD is furious after being linked to Nigerian fraud case

Claudio Descalzi, the Chief Executive Officer of the embattled Italian energy firm, ENI S.p.A, has instituted legal action against Piero Amara, the company's former legal adviser whose recent testimony allegedly defamed the CEO.
Mr. Biggs restuarants in Nigeria, Mr. Biggs resturant address in Nigeria, Mr. Biggs office, Quick Service Restuarants in Nigeria

46-years after, Mr. Bigg’s is not so big anymore

From the late 1970s to early 2000s, @mrbiggsng was the most sought-after fast food restaurant, but 46 years later, the company is gradually winding up, becoming a fading memory in an era of competition; the fall of this giant will, however, cost Nigerians a lot.
President Muhammadu Buhari, new minimum wage

FG’s new minimum wage implementation does not apply to everyone

President Muhammadu Buhari has ordered the immediate implementation of the N30,000 new minimum wage, but it is not for everyone.