Business News

Business and economic news from Nigeria and around the world.

Online Supermarket That Caters For Popular Supermarkets Launched in Lagos

An indigenous company Morpheus Online Business Services, has launched an exciting e-commerce platform in Lagos. The platform buyam.com.ng is set to alleviate the stress...

Dangote Sugar Plans $600million Investment in Kwara, Kebbi and Sokoto States

The investment drive of the Kwara State Government has yielded dividends as the President, Dangote Group, Alhaji Aliko Dangote, has pledged to invest over...

Official: For The 15th Straight Month CBN Keeps MPR At 12%

  The Central Bank for the 15th straight month has decided to keep Monetary Policy Rate ( MPR) at 12 per cent with a corridor...

Official: Unilever Nig Plc Approves N1.40 Per Share as Dividend For FY Ended Dec...

  Shareholders of Unilever Plc have approved a dividend payment of N1.40 per share for their shareholders following their 2012 year end financial report. Unilever...
Oando Plc Has Paid N16.39Billion In Dividends In The Last Five Years

Official: Oando Rights Issue 101% Subscribed

  Oando Plc has announced results of its rights issues which it closed in December, 2012 which saw a total of 4,548,236,276 ordinary shares of...

Talk Is Cheap?? FG Launches Scheme That Will Promote Entrepreneurship Right From Universities

As part of proactive measures    aimed  at  tackling graduate unemployment across the country, the Ministry of Industry, Trade and Investment has inaugurated the University...

Etisalat Obtains $1.2billion (N192billion) Loan From Nigerian Banks

Emerging Markets Telecommunications Services Limited, trading under the name of Etisalat Nigeria, has signed a $1.2bn medium-term syndicated loan facility agreement with Zenith Bank...

Paga and Medplus Strike Deal…But Its Not Just To Sell Drugs

  Paga a leading mobile payment platform in Nigeria has partnered with one of my favourite Nigeria Company Medplus which sees both organisations combine the scale...

Fidelity Bank Plc Create Loans Specifically For Pharmacist

  As usual, I will be using my blog to promote tools and resources that can help startups and small businesses grow. Businesses need funding...

Man City to buy New York City FC

"Manchester City, owned by Sheikh Mansour bin Zayed bin Sultan Al Nahyan, will be the majority owner of the team. Man City and the...

At $1.1Billion Tumblr Is Worth More Than The Combined Value of Oando, Forte Oil,...

It's no news that Yahoo is buying Tumblr for $1.1billion even though Tumblr generated just $13million in income last year and projects $100million in...

Skye Bank Plans to Raise $150million Tier 2 Capital in Q2/Q3

Media reports confirm Skye Bank Plc is planning to raise about $150million in Tier Two Capital (Bonds or Preference Shares or Mezzanine Finance) to...

Company Watch: UPDC Plc Commences Construction Of Festival Mall In Festac

    UACN Property Development Company (UPDC) has commenced the construction of a N5billion Mall that will be located on an expanse of land of measuring...
Union Bank

Know Your Rights==>> Union Bank Ordered To Refund N36Million In Fraudulent Deductions

  If he can do it then you can..... "Union Bank has been ordered to repay a N34 million illegal deduction from a customer’s account. This directive...

10 Tips You Must Know When You Seek For A Bank Loan In Nigeria

Every business at some point in its operating cycle will require some form of finance to pay its short term indebtedness or to fund...

Guinness Ads now back on TV following remorse…but when was it banned??

  If you recall last season, we were very much awash with Guinness Ads as they were the major sponsors of the premier league for...

Travel Bargain!!! Aero Has Slashed Domestic Fares To N10K

I don't know if I am late to this info but just found out Aero is offering local travelers cheap domestic fares of N10,000...

Quoted Company Watch: Chellarams Plc Introduces New Product But Will It Improve Bottom Line?

Chellarams Plc has introduced to the market a new beverage, Real Activ malted food drink. The 18-gramme powdery sachet product is manufactured and distributed across...

It’s official: NIBBS, NEFT generate N80B online transfers daily

It appears cash-less banking is finally delivering on its promises. The CBN has just confirmed that online banking transfer between the two popular platforms,...

Ugometrics blog get official twitter handle @ugometricsblog

Ugometrics blog has for the last 18months been providing readers with quality personal finance tips, business news, investment tips and analysis of quoted companies...

UACN Concludes Transaction For Sa Firm To Acquire 49% Equity Stake

  The NSE confirms that "UAC of Nigeria Plc (‘UACN’) and Imperial Holdings Ltd, South Africa (‘imperial’) through its subsidiary, Imperial Mobility International B.V. Netherlands,...

Two Nigerian Firms Approved To Print Cheques And One Is A Quoted Company

Pursuant to the CBN local content policy they have selected to Nigerian companies who have the mandate to print cheques in Nigeria. They are...

Dangote Sugar Reduced Sugar Prices By 25% In December 2012 Yet Volume Increased In...

  When I reviewed Dangote Sugar Q1, 2013 I mentioned that the revenue was flat. However, the MD on a recent ABN Digital interview last...

Nestle Confirms N18.5 Per Share Final Dividend Payment For 2012 FY

Nestle Plc shareholders have approved a dividend of N18.5 per share following the release of their 2012 audited accounts. They company had paid N1.5...

Official – Lending Rate For Q1 2013 Still High At 23.8%Pa

Inflation like we are made to understand is single digits, bond yields, TB'S are also going down but as expected lending rates remain high....
Pension funds

Difference Between A Pension Fund Administrator And A Pension Fund Custodian

  PENSION FUND ADMINISTRATORS A Pension Fund Administrators in Nigeria are licensed to manage Pension Fund Assets on behalf of pension fund contributors. According to the...

Vulcanizer, Spare Parts Dealers, Mechanics, Shope Owners All Valued At N7.62tr According To Lagos...

I found this funny. Anyway the Lagos State Government believes the informal sector in Lagos is currently valued at ₦7.62trillion ($48billion). The informal sector...

Another Witch-Hunt? ==>> Cbn Spent N73million On Governors Residence

I just scooped this off Premium Times.... The committee said on Tuesday that the bank spent N23 million on the residence of its governor, while...

Food Concepts (Chicken Republic) Set To Allot 86.6m Ordinary Shares To IFC

  Food Concepts the owners of Chicken Republic announced in the papers today that they will be having an Annual General Meeting (AGM) on Thursday...

NIGERIAN BANKS PARTICIPATE IN A N470BILLION ($3BILLION) SYNDICATED LOAN TO MTN NIGERIA

  A consortium of Nigerian and foreign Banks have lent telecommunication Giant MTN, a sum of N470billion to help finance its expansion and modernization plans....

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Should Gokada and Max.ng be afraid of ORide?

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Airtel eyes a £3.6 billion IPO valuation on the LSE and NSE

Airtel Africa Limited has declared its intentions to float his shares simultaneously on the Nigerian Stock Exchange (NSE) and London Stock Exchange (LSE)