The Bank of Industry (BOI) has disbursed N22.89bn out of its N75bn Manufacturing Sector Intervention Fund to support 29 manufacturers. This was announced by Dr. Olasupo Olusi, Managing Director of BOI, during the bank’s first-ever interactive session with the Organized Private Sector (OPS) held in Abuja. The event, themed […]
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UBA shareholders back N239.4bn rights issue
The shareholders of United Bank for Africa (UBA) Plc have expressed optimism that the bank’s N239.4 billion rights will be fully subscribed following their interest to buy more shares in the pan-Africa banking group. UBA has opened acceptance list for a N239.4 billion rights issue, offering 6.84 billion ordinary shares […]
FG Not Investigating Air Peace – FCCPC
The Federal Competition and Consumer Protection Commission, FCCPC says its invitation to Air Peace is simply for an inquiry to understand its price methodology and respond to consumers complaints. The Director, Surveillance and Investigation, Mrs. Boladale Adeyinka said neither the airline nor the chairman, Dr. Allen Onyema is under […]
Market Regulation: Senate Passes ISB 2024
In a major boost to the operations of the Securities and Exchange Commission and the Nigerian capital market, the Senate of the Federal Republic of Nigeria has passed the Investments and Securities Bill 2024. The Investments and Securities Bill, meant to repeal the Securities and Exchange Commission (SEC) Act, was passed on the […]
Coronation Insurance Reports ₦2.2 Billion Profit, Charts Digital and Sustainable Future
Coronation Insurance Plc celebrated a remarkable financial turnaround at its 66th Annual General Meeting (AGM) in Lagos, announcing a profit before tax of ₦2.2 billion for the financial year ending 31st December 2023. This milestone represents a significant recovery from the ₦1.8 billion loss recorded in 2022, a testament to […]
Boeing Group Restates Commitment To Growth of Air Peace Limited
The Boeing Company, a leading global aerospace company in the US, has restated its unalloyed support to Air Peace, Nigeria’s premier airline and West Africa’s largest carrier. This is a testament to the critical role Air Peace plays in the development of aviation industry in Nigeria. Harry Magui, Senior […]
Holcim Exits Nigerian Market After 65 Years, Sells Lafarge Africa to Huaxin Cement for $1bn
Cement maker Holcim has announced the $1 billion sale of its 83.8% stake in Lafarge Africa to China’s Huaxin Cement. After roughly 65 years of operations in Nigeria, Swiss cement and other building materials’ maker, Holcim, on Sunday announced that it was set to leave the country. The […]
Alumni association offers Madonna varsity graduates lifelong support
Madonna University Alumni Association has charged the newest graduates of the university to leverage their education to drive positive change in Nigeria and beyond. The President of the association, Mr. Peter Nwachukwu, gave the charge in a statement made available to newsmen on Saturday in Lagos. Nwachukwu described the graduates […]
Fintech: No Investor Will Lose Their Funds, SEC Assures
The Securities and Exchange Commission has restated its commitment to investors’ protection, especially with the increasing use of Fintech. Speaking at the one day capacity training for financial journalists in Abuja, the Director General of the SEC, Dr. Emomotimi Agama, said the Commission will enforce regulations in the fintech ecosystem […]
Ngozi Okonjo-Iweala Reappointed As WTO Chief
The World Trade Organization (WTO) has reappointed Ngozi Okonjo-Iweala for a second term as Director-General during a special meeting held on Friday. Okonjo-Iweala, who made history in 2021 as the WTO’s first female and first African leader, will serve another term as the organization prepares to navigate an era […]