Business

Shareholders of Guinness Nigeria Plc on Tuesday approved the company’s proposed N40 billion Right Issue aimed at further growing the multinational going concerns. Specifically, at the company’s held Extra-Ordinary General Meeting (EGM), which saw both local and representatives of international shareholders in attendance, other resolutions of the company were passed. Speaking at the meeting, the Chairman Guinness Nigeria Plc, Babatunde …

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Oil prices rose on Tuesday on evidence the global market was tightening as lower production by OPEC and other exporters drained stocks. Meanwhile, an increase in drilling in the United States could keep a lid on prices. Benchmark Brent crude was up 40 cents at 55.63 dollars a barrel by 0840 GMT. U.S. light crude was 40 cents higher at …

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Africa Finance Corporation (AFC), a leading pan-African multilateral development finance institution and project developer, has issued its maiden Sukuk, the highest-rated ever Sukuk issuance from an African institution. Following high levels of investor interest, the initial target of US$100 million was more than twice oversubscribed, resulting in the transaction being upsized to US$150 million and a final order book of …

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Indications have emerged that the MTN Group will not list the shares of its Nigerian unit on the Nigerian Stock Exchange (NSE) in 2017. This was made known by the Chief Executive Officer, Phuthuma Nhleko, at the annual meeting of the World Economic Forum in Davos, Switzerland. “We see ourselves as a partner to governments in Africa because it is …

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The Organised Private Sector (OPS) has listed 12 factors retarding the growth of the nation’s economy, isolating the prevailing huge scarcity of foreign exchange as the major impediment to economic recovery. They also called for a review of the list of 41 items banned by the Central Bank of Nigeria (CBN) from accessing forex in the interbank forex market with …

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Samsung Electronics’ profits leaped in the fourth quarter, it said Tuesday, despite the humiliating Galaxy Note 7 recall that hammered the reputation of the world’s largest smartphone maker. The South Korean tech giant took another blow when prosecutors began investigating its involvement in a corruption scandal, which has seen the country’s president impeached, and sought the arrest of the firm’s …

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Microsoft, the leading platform and productivity company for the mobile”first, cloud”first world and Ecobank Transnational Incorporated, parent company of pan”African banking group Ecobank today signed a memorandum of understanding (MOU) to complement African governments’ efforts to modernise and raise the standards of the continent’s major cities through state of the art digital solutions. The MOU will see the modernisation of …

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As the most valuable banking brand in Nigeria, First Bank of Nigeria Limited has been on a journey of strength and dynamism committed to providing the best financial solutions to promote convenience and support the lifestyles of its customers. The Bank through the years has demonstrated an understanding of its customers’ modern lives, wants, and needs as part of its …

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The Deputy Managing Director, Ecobank Nigeria, Tony Okpanachi has expressed delight over the level of acceptability and wide patronage of Ecobank MasterPass QR, an innovative global digital payment solution recently introduced into the nation’s financial landscape by the Bank. It would be recalled that Ecobank was the first financial institution in the country to introduce Masterpass QR. According to Mr …

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NIBBS MD/CEO Ade Shonubi The Managing Director/CEO, Nigeria Interbank Settlement System (NIBSS), Ade Shonubi has reiterated the rising significance of digital or online media in financial news reporting, saying it is where the future lies. Speaking yesterday at the launch of Ficannews.com, an online news website published by Finance Correspondents Association of Nigeria (FICAN), the NIBSS boss said the group …

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