Tolaram Africa will acquire Diageo’s 58.02% shareholding in Guinness Nigeria, and enter into long-term license and royalty agreements for the continued production of the Guinness brand and its locally manufactured Diageo ready-to-drink and mainstream spirits brands. This was contained in the company’s notice to the Nigerian Exchange Limited (NGX) and […]
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SEC approves Nigeria’s first naira-denominated private debt fund
The Securities and Exchange Commission (SEC) has approved the FCMB-TLG Private Debt Fund, Nigeria’s first Naira-denominated Private Debt Fund. The group in a statement said the FCMB-TLG Private Debt Fund targets Qualified Institutional Investors (QIIs) and high-net-worth individuals (HNIs). Established in May 2024 and sponsored and managed by FCMB […]
Non-monetary factors undermine MPR’s impact on Nigeria’s inflation- Financial experts
Some financial experts have indicated that the heavy reliance on the Monetary Policy Rate (MPR) to control inflation appears to be ineffective, considering the significant non-monetary factors contributing to inflation in Nigeria. The expert stated this in an exclusive chat with Business Nexus while reacting CBN’s increase of interest […]
MTN Group’s Q1 2024 service revenue dips 18.8% on MTN Nigeria challenges
MTN Nigeria grows subscriber base to 77.749 million in Q1’2024 to retain the largest market. MTN Nigeria’s subscriber base grew by 1.3% to 77.749 million in the first quarter ending March 2024 from 76.751 million reported in the corresponding period of 2023 to retain the largest market outside South Africa. […]
MRS Oil Sets N135 Per Share As Exit Consideration For Delisting
The Board of MRS Oil Nigeria Plc has said that as part of exit consideration from the Nigerian Exchange Limited (NGX), it will pay dissenting shareholders N135.00 per ordinary share of 50 kobo each. The Board stated this in its updated explanatory circular on the proposed voluntary delisting of issued […]