Business and Economy

  Monday, April 1, 2019, the new Access Bank, one company, with 28,000 staff across 600 branches and 29 million customers worldwide was launched. This followed legal completion of the merger between Access and Diamond Banks on 19 March. A statement from the Bank said that “the enlarged Access Bank …

Public offices are held in trust for the people. Therefore occupiers of public offices are the golden fish that have no hiding place.  It is thus instructive that they should justify their appointments by demonstrating competence, accountability, discipline and leadership. These virtues approximate the essence of every successful public office holder. …

Keystone Bank Limited has announced the resignation of Mr. Obeahon Ohiwerei from office as Managing Director/CEO of the Bank, and the appointment of Mr. Abubakar Danlami Sule as Acting Managing Director/CEO. Mr. Sule’s appointment is subject to approval by the Central Bank of Nigeria. A statement from the Bank disclosed …

By Peter Ejiofor Lagos, March 27, 2019 Nestlé Nigeria recently refurbished facilities in two primary schools to help create a more conducive environment for teaching and learning in communities where its factories are located. The move, the company restated, was in line with its commitment to improving livelihoods in the …

By Ismaila Chafe Abuja, March 24, 2019 President Muhammadu Buhari on Sunday in Abuja congratulated First Bank Nigeria, FBN, on its 125th anniversary, which he said “historically and remarkably marked the commencement of banking in the country in 1894’’. In a statement by his Special Adviser on Media and Publicity, Mr …

E-commerce giant Konga has emerged among an exclusive list of globally viable start-ups and corporate organizations after achieving top scores in a rating by Early Metrics,an independent rating agency for start-ups and innovative SMEs. The rating places Konga in a rarefied club of the top 14% of the 2,100 startups …

The Niger Delta Development Commission, NDDC, says it will strengthen its collaboration with the European Union, EU, through the Niger Delta Support Programme, NDSP, to resuscitate abandoned water infrastructure across the nine Niger Delta states. The NDDC Acting Managing Director, Prof. Nelson Brambaifa, stated this when a delegation from the EU-funded …

By Taiye Elebiyo-Edeni Abuja, March 19, 2019 The Minister of Transportation, Chief Rotimi Amaechi, says he has done his best for the transport sector which has recorded a lot of success since he became minister in 2015. Amaechi said this in an interview with the News Agency of Nigeria (NAN) …

By Chinyere Joel-Nwokeoma Lagos, March 18, 2019 Access Bank Plc. said on Monday that a five-year Fixed Rate Senior Unsecured N15 billion Green Bond, the first climate bond to be issued in Africa, had been fully subscribed. The The bank’s Group Managing Director, Mr Herbert Wigwe, stated this at the …

  In continuation of its drive to facilitate ease of access and deliver more convenient services, Nigeria’s largest online vehicle trading platform, Cars45, has partnered with ENYO Retail and Supply, an innovative fuel retail brand, to increase its retail footprints and provide consumers with opportunities to buy, sell or swap …

By Victor Nwachukwu Owerri, March 15, 2019 Gov. Rochas Okorocha of Imo has cautioned the state Governor – elect,  Mr Emeka Ihedioha, to desist from giving directives to financial institutions in the state over their dealings with the state government. Okorocha issued the caution in a release signed by his Chief …

Nigeria’s foremost e-Commerce powerhouse, Konga has been migrated to the Retail Accelerator Program of global technology giant Intel, thereby becoming the first e-Commerce company in Sub-Saharan Africa to achieve this feat. Konga’s elevation to the new retail channel program takes effect from Q2’19. Making the announcement, Olabanji Womiloju, Consumer Manager …

The Nigerian Maritime Administration and Safety Agency (NIMASA) has denied reports that it failed to provide assistance to a distressed vessel resulting in the sinking of the vessel and loss of lives, noting that it actually facilitated the rescue of the vessel, which it said, is presently “at the ORC …

Access Bank Plc has announced that it has signed a Subordinated Syndicated Loan Agreement totaling USD 162.5 million. The facility has been arranged by FMO, the Dutch development bank, and is provided together with BIO (Belgian Investment Company for Developing Countries SA/NV), Blue Orchard Microfinance Fund, CDC Group plc, DEG …

The cause of the March 1 explosion from an oil well No.7 within Nembe Creek oilfields remains unknown as investigation into the incident enters day two. National Oil Spills Detection and Response Agency (NOSDRA) said on Thursday that it has commenced investigations into the explosion which occurred within OML 29 …

  President of Dangote Industries Limited, Aliko Dangote, has restated his Group’s commitment to Nigeria’s economic development through continuous innovation, value creation and investments. This is just as he disclosed that Dangote Cement’s exports to other countries are targeted to rise to $600m annually, with the management intensifying efforts at …

The Nigeria LNG Limited (NLNG) has denied a news story that it refused to refused to respond to a distress call by a trawler 45 Kilometres SW of Bonny Fairway Buoy. The company, in a statement by Andy Odeh, its Manager, Corporate Communications and Public Affairs, said the report and …

The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) Dr. Dakuku Peterside has reiterated that the Agency remains committed to growing the ideals of the blue economy by bringing to the fore adequate knowledge of the sector in line with the capacity building drive of the Agency. …

By Yunus Yusuf Lagos, March 1, 2019 Mr Bamidele Odugbesan, Manager, Media Communications of Shell Nigeria, has confirmed the Dutch Public Prosecutor’s Office investigations against Royal Dutch Shell (RDS). Odugbesan, who confirmed the development to the News Agency of Nigeria (NAN) on Friday in Lagos,  said the investigations was over …

By Chinyere Joel-Nwokeoma Lagos, Feb. 27, 2018 Dangote Cement Industries Plc on Wednesday said that it sold a total 23.54 metric tonnes (MT) of cement across Africa for the financial year ended Dec. 31, 2018. The company said in its financial performance released on the Nigerian Stock Exchange (NSE) that …

In a country without a National Carrier, Governor Udom Emmanuel of Akwa Ibom State has made history by launching the first state-owned airline in Nigeria, IBOM AIR, thus putting the camp of his eternal critics into confusion. Despite the giant strides of the Emmanuel administration particularly in its industrialisation drive …

By Chinyere Joel-Nwokeoma Lagos, Feb. 19, 2019 Zenith International Bank Plc on Tuesday became the first bank to announce its 2018 audited result, declaring a drop in gross earnings. The bank’s audited result released by the Nigerian Stock Exchange (NSE) showed that its gross earnings dropped to N630.34 billion against …

By Chinyere Joel-Nwokeoma Lagos, Feb. 18, 2019 The Nigerian Stock Exchange (NSE) on Monday reacted negatively to the sudden election postponement, dropping by N196 billion as predicted by financial experts. Specifically, the market capitalisation shed N196 billion or 1.61 per cent to close at N12.004 trillion as against N12.200 trillion …

By NAN Reporters Feb. 16, 2019 Nigerians have been counting the costs of the postponement of the general elections earlier scheduled for February 16, 2019 and March 2, 2019. A few hours to the start of the Presidential and National Assembly polls, February 16, 2019, the Independent National Electoral Commission, …