Business News

Afriland Fire Incident: Lagos explains how it started, says victims died from smoke inhalation

September 19, 2025

US to extradite Nigerian man from UK over $235,000 cyber fraud scheme

September 19, 2025

Nigeria Customs schedules Superintendent applicants pre-test for September 22

September 19, 2025

Home Category Business News

Business News

Business and economic news from Nigeria and around the world.

First Bank Adesola Adeduntan, Global transactions get easier with Firstbank’s Card Offerings, FBNQuest Trustees Marks 40th Anniversary of preserving legacies in Nigeria, Ellah Lakes Plc announces close period for H1 2019 results The Board of Directors of Ellah Lakes Plc has announced that the company would be meeting on the 22nd October 2019 to consider, among other matters, the audited financial statements of the Company for the financial year ended 31 July, 2019. The Company also announced the commencement of a closed period with effect from 7 October 2019, until 24 hours after the Company’s Audited Financial Statements is filed with The Exchange. Top executives, directors, advisers, and many others at Ellah Lakes Plc have been barred from trading in the company’s shares ahead of the meeting of board of directors of Ellah Lakes. This was disclosed in a notification which was sent to the Nigerian Stock Exchange (NSE). https://www.nse.com.ng/Financial_NewsDocs/27720_ELLAH_LAKES_PLC._CORPORATE_ACTIONS_OCTOBER_2019.pdf The announcement is in line with rule 17.18 of Part 2 (Issuer’s Rules) of the NSE’s Rule Book (2015) which states that, “The period of closure shall be effective from fifteen (15) days prior to the date of any meeting of the Board of Directors proposed to be held to consider any of the matters referred to above or the date of circulation of agenda papers pertaining to any of the matters referred to above, whichever is earlier, up to twenty-four hours after the price-sensitive information is submitted to the Exchange. The trading window shall thereafter be opened. Every issuer shall notify the Exchange in advance of the commencement of each closed period.” Why this matters: The close period will allow the board to consider the company’s unaudited financial statements for the third quarter. Other company issues will also be discussed during the meeting of the Board of Directors. What is a close period? A close period is a period before the release of a company’s result or financial statement when of course, those with sensitive information are not allowed to trade on the stock. These individuals may include company directors, audit committee members, persons discharging managerial responsibility, employees and consultants with sensitive information. About the company: Ellah Lakes Plc is a fish farming company., FBN processed 237 million transactions in two weeks, amid COVID-19 lockdown, First Bank Holdings declares a Profit after Tax of N26 billion in Q1 2020

FirstBank celebrates top performing Firstmonie Agents nationwide

by NM Partners

First Bank of Nigeria Limited has announced that its Agent Banking National award ceremony would hold on Friday, 25 October...

End of the road for Ekezie as Wakanow appoints new CEO

by Chike Olisah

One of Nigeria’s largest online travel companies, Wakanow announced the appointment of Mr. Adebayo Adedeji as its interim Chief Executive...

Those violating process of selecting Vice Chancellors will be sanctioned - Buhari. FG to seek international cooperation to curb illicit financial flows, Ghana and south africa, Illicit financial flows: Nigeria lost $157.5 billion between 2003 and 2012 - Buhari , President Buhari says World Bank, IMF data are not reliable, Ahead of Nigeria, Ghana and South Africa top FDI inflows in Africa – Fitch , Nigeria’s Buhari wants MDAs to publicly disclose transactions above N5 million

Ghana, South Africa ahead of Nigeria on top FDI inflows in Africa – Fitch

by Chidinma Nwagbara

A recent report released by Fitch Solutions disclosed that Ghana and other countries in Africa are ahead of Nigeria in...

Top 10 Nigerian banks by Account Maintenance Income

Bank CEOs applaud NCC’s decision to suspend USSD charges by telecommunication companies for accessing bank services

by NM Partners

The Body of Bank CEOs applauds the recent notice from the NCC announcing the immediate suspension of end-user billing for...

Nigerian Stock Exchange, sound, C & I Leasing Plc, NSE launches factbook, Top 10 stockbroking firms, Steroids from GTBANK, ZENITH Lift Nigerian bourse, as investors gain N94.2 billion , Steroids from GTBANK, ZENITH Lift Nigerian bourse, as investors gain N94.2 billion

NSE: Again, Omoluabi Mortgage, Zenith Bank make top trade chart

by Inimfon Asifa

The trading session ended Thursday in negative territory as the All-Share Index closed at 26,357.24 basis points, down by 0.15%.

net interest income, Nigerian Banks, Fitch, Nigerian banks tremble over Cyber attack, Most Nigerian banks are very likely to fail stress tests should the economic downturn persists and deepens, What Banks can do to improve Real Sector Lending in 2021

Fraud Cases hit major payment channels across Nigerian Banks

by Bamidele Samuel Adesoji

Major payment channels in Nigeria were hit with the high reported fraud incidences in 2018, according to the Central Bank...

Eland Oil restructures $35 million loan from Standard Chartered

Standard Chartered partners IFC to offer $1 billion credit facility

by Abiola Odutola

Standard Chartered has partnered International Financial Corporation (IFC), a member of the World Bank Group to offer a US$1.0 billion loan facility.

Mitchell Elegbe, the founder of Interswitch

Interswitch records successful sale of first bond issue

by Joseph Olaoluwa

Interswitch Limited, has recorded mass oversubscription for its Series 1, up to N20 billion Fixed Rate Senior Unsecured Bonds, under...

poor, performance, International Breweries, Quick Take: International Breweries' poor performance extends into Q3

NB, IB, Champion Breweries lament over N35.8 billion excise duty

by Chidinma Nwagbara

Nigerian Breweries Plc, International Breweries, and Champion Breweries have decried the N35.8 billion spent as excise duties in the country, calling the Federal Government to slash the...

World Bank, Focus on lifting people out of poverty - World Bank tells FG , World Bank, IFC to assist in solving Nigeria’s infrastructure deficit , EXCLUSIVE: World Bank tasks developing nations to tap opportunities in GVCs, Warning signs: Nigerians living in extreme poverty might increase by 30 million – World Bank, US, China and UK’s protectionism ambition to affect Nigeria’s export, FDI , Terrorism bane to Nigeria's Agric development - World Bank

World Bank ranks Nigeria among World’s most improved countries in “Doing Business”

by Bamidele Samuel Adesoji