Wealth.ng

Seplat Increases Its Outstanding Shares

Seplat has increased its issued share capital by increasing its ordinary shares by an additional 10,134,248 ordinary shares. ...

Glo, Vodafone Enter Into Agreement

Globacom Limited and Vodafone, on  Friday both announced a new, non-equity partnership agreement that covers Nigeria and the Republic of Benin. Under this agreement, Vodafone and Globacom...

Dangote Sugar Appoints New Managing Director

Abdullahi Sule has been appointed the acting Group Managing Director of Dangote Sugar Refinery Plc, the nation’s biggest sugar company. The appointment, which became effective...

[CHANGE] There Will Be No Convoy For Ministers

Ministerial designate Dr. Chris Ngige  has said that all ministers will operate without perks of office. He made this statement at the end of a two-day presidential...

Nigeria’s LNG Heads For Portugal

Portugal’s Port of Sines LNG terminal, owned by REN Atlântico,which  lies in the Portuguese Atlantic coast  will receive a shipment of liquefied natural gas next week,...

Pros And Cons Of Paying N5,000 To Nigeria’s Unemployed Youth

The All Progressives Congress (APC) rode on the wind of “CHANGE”, making lots of promises in its campaigns to oust the Peoples Democratic Party...

Nigerian Breweries raises N17.7 bln in commercial paper

Nigerian Breweries (NB) has raised from institutional investors N17.7 billion ($88.98 million) in commercial paper with a yield of 12.5...

Contract Staff Stops Warri Refinery Repairs Over Unpaid Salaries

Protesting contract staff have grounded repair work at the Nigerian National Petroleum Corporation (NNPC)-owned Warri Refining and Petrochemical Company (WRPC). The workers in their hundreds decided to shutdown...

[Oil Spillage] NOSDRA Fines Mobil Nigeria N10million

The National Oil Spill De­tection and Response Agency, NOSDRA has slammed a N10 million fine on Mobil Producing Nigeria Unlimited, MPNU for oil spill. The oil com­pany...

Lagos Light Rail Project To Be Completed By Dec 2016 – Ambode

Lagos State Governor Akinwunmi Ambode,Thursday said  that the first phase of a light railway aimed at easing traffic jams in the commercial hub Lagos...

South African Vice President Says MTN Must Respect NCC Laws

Cyril Ramaphosa, Vice President of the South Africa, has called on MTN Nigeria to respect the sanctions imposed on it by the Nigerian Communications...

Depot Owners Are To Blame For Fuel Scarcity Across Nigeria – DPR

Major oil marketers are blaming the current fuel scarcity on depot owners who now sell to the marketers at N91.00 instead of the control...

MTN Goes Cap In Hand, Begs NCC For Fine Reduction

MTN Group has revealed that it in talks with the Nigerian Communications Commission (NCC) in a bid to review the N1.04tr fine slammed against it...

[BOOM] Judge Restraints FRCN From ‘Obstructing Stanbic Operations’

The controversial suspension of two directors of Stanbic IBTC by the Financial Reporting Council (FRCN) took another turn yesterday as the Federal High Court...

[Corporate Action] Conoil Plc Posts 16% Drop In PAT to N1.1 billion In Q3’2015

Conoil Plc released its financial results for the nine months ended 30 September 2015. The result showed revenue declined by 42% from N104 billion in...

Buhari Scraps Jonathan’s SURE-P, Orders Probe

President Muhammadu Buhari has ordered the immediate closure of the Subsidy Reinvestment and Empowerment Programme (SURE-P). Buhari also ordered the presidential committee and workers of the...

Oil Marketers To Receive N413 Billion Subsidy Payment

The federal government has approved 413 billion as payment to oil marketers for the debt being owed them.    According to Ohi Alegbe, NNPC's group public...

[Corporate Action] Niger Insurance Posts 127% Rise In PAT to N518 million In Q2’2015

Niger Insurance Plc released its financial results for Q1 and Q2 2015 respectively. The Q1'2015 result showed Profit after tax rose by 84% from N186...

5 Things That President Buhari Can Do To Get Nigeria Back On Track

President Muhammadu Buhari, who was inaugurated May 29, is the antithesis of the stereotypical Nigerian politician: incorruptible, soft-spoken, self-effacing and deliberate.  He embraces the nickname...

Africa’s Biggest Insurer’s Sales Climb 31% on Growth

Old Mutual Plc, Africa’s biggest insurer, has announced a gross sales rise of 31 percent in the third quarter as sales increased on the continent...

A Taxi Driver’s Guide To Understanding The Naira Devaluation

In the on-going debate on whether or not to devalue the currency in the face of Nigeria's forex  shortage caused by the fall in the...

Maritime Operators Urge FG To Reverse Rice Importation Policy

Nigerian maritime operators are calling on government to reverse its rice importation policy. They say that Nigerians 110 percent tax policy on rice is...

Total Launches Finance Support Programme For Young Entrepreneurs

Total Nigeria Plc and Total Upstream Companies in Nigeria have launched an initiative focused on promoting local content and the entrepreneurial drive of young...

“You Are Not In Customs To Make Money And Enrich Yourselves, But…” – CG...

Comptroller-General of the Nigeria Customs Service Hameed Alli says the era of permanent posting to unit commands and departments is over in the service. Speaking at the Abuja command of...

Nigeria’s Non-Oil Export Earnings Drop By N52.2bn In Second Quarter

Nigeria's non-oil exports earnings have dropped by $261million (N52.2billion) in the second quarter of this year, the Nigerian Export Promotion Council has said. According to...

The CBN Governor Has Joined Stanbic In Issuing FRCN A Stinker

The Central Bank of Nigeria has waded into the controversy between the Financial Reporting Council of Nigeria (FRCN) and Stanbic IBTC over the suspension...

CPC Issues Volkswagen Seven Days To Explain Emissions Software

Nigeria's Consumer Protection Council, Tuesday,  issued a seven-day ultimatum to Volkswagen Nigeria demanding that they provide information on the status of its vehicles in relation to the emissions...

[Corporate Action] Equity Assurance Records N543 million Loss In Q3’2015

Equity Assurance released its financial results for the nine months ended September 30, 2015. The result showed Gross Premium written reduced by 14% from N3.9...

Amnesty International Accuses Shell Of Failing To Clear Oil Spills In Nigeria

Shell has failed to fulfill its legal obligations to clear up oil spills that it has caused in Nigeria's oil-rich Niger Delta region, Amnesty...

[Corporate Action] NASCON Plc Posts 2.8% Rise In Profits to N1.6 billion

NASCON Allied Industries Plc released its financial results for the period ended 30 September 2015. The result showed that revenue rose by 24.72% from N8.1...