Business News

Business and economic news from Nigeria and around the world.

Aliko Dangote, Milk importation, CBN, You probably wouldn't know Dangote dances until you watch this video  , Aliko Dangote’s net worth falls by $1.3 billion in a week

Dangote Cement signs pact with GE to digitise plants

October 25, 2019

Dangote Cement Plc has signed an agreement with General Electric to install Asset Performance Management (APM) solution at its plants in Obajana, Ibese, to Improve power...

Business News

Fuel tankers loading above 33,000 litres will be restricted from roads – DPR

by Joseph Olaoluwa

October 25, 2019

The Department of Petroleum Resources (DPR) has decided to stop the loading and distribution of over 33,000 litres of fuel...

Business News

MTN gives update on USSD charge controversy

by Chidinma Nwagbara

October 25, 2019

MTN Nigeria has disclosed its plans on the USSD controversy.

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

Business News

FirstBank celebrates top performing Firstmonie Agents nationwide

by NM Partners

October 25, 2019

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

Business News

End of the road for Ekezie as Wakanow appoints new CEO

by Chike Olisah

October 25, 2019

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

Business News

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

by Chidinma Nwagbara

October 25, 2019

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

Business News

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

by NM Partners

October 25, 2019

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

Business News

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

by Inimfon Asifa

October 24, 2019

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

Business News

Fraud Cases hit major payment channels across Nigerian Banks

by Bamidele Samuel Adesoji

October 24, 2019

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

Business News

Standard Chartered partners IFC to offer $1 billion credit facility

by Abiola Odutola

October 24, 2019

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

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FG declares Friday, Monday as public holidays for Easter

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Minister of Power, Adebayo Adelabu denies resignation over governorship ambition

Business News

Business and economic news from Nigeria and around the world.

Dangote Cement signs pact with GE to digitise plants

Fuel tankers loading above 33,000 litres will be restricted from roads – DPR

MTN gives update on USSD charge controversy

FirstBank celebrates top performing Firstmonie Agents nationwide

End of the road for Ekezie as Wakanow appoints new CEO

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

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

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

Fraud Cases hit major payment channels across Nigerian Banks

Standard Chartered partners IFC to offer $1 billion credit facility

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