Business

Following the turnaround witnessed by Cadbury Nigeria Plc in the financial year ended December 31, 2017, in which the company erased the losses it recorded in 2016, shareholders has commended the board of directors chaired by Atedo Peterside for proposing 16 kobo dividend amounting to N301,512,314. This was made known on Friday July 6, 2018 at the company’s 53rd Annual …

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Mr Adeoye Fadeyibi, the Chief Executive Officer and Managing Director, Eko Electricity Distribution Company (EKEDC) on Friday said the company was recording huge revenue losses in Lekki due to meter bypass and energy theft. Fadebiyi said, at company’s Customers Engagement Town Hall Meeting with electricity consumers in the Lekki area, Lagos, only 11,000 out of 30,000 electricity consumers recharge their …

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The Supreme Court on Friday finally laid to rest the trial of a Senate President, Dr. Bukola Saraki, on assets declaration and sundry charges instituted against him before the Code of Conduct Tribunal. A five-man panel of the apex court led by Justice Dattijo Muhammad unanimously upheld Saraki’s appeal, by dismissing the remnant three counts, declaring the evidence led by …

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…Pledge Brings Elumelu’s Investment In Nigerian Entrepreneurs To N4.4 Billion The Tony Elumelu Foundation (TEF) Founder and Chairman of United Bank for Africa (UBA), Tony Elumelu has pledged N500 million to create an entrepreneurship programme exclusive to indigenes of Delta State. He made the commitment on Thursday during his visit and after presenting 50 beneficiaries of the TEF Entrepreneurship Programme to Governor Ifeanyi …

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The Central Bank of Nigeria (CBN) has renewed the mandate of bank’s board of director for additional two year term, which will end by June 30, 2020. The bank disclosed this in a statement which was posted on the Nigerian Stock Exchange (NSE) website and signed by the Company Secretary / General Council Babatunde Osibodu. You would recall that on …

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China’s bilateral cooperation with Africa has grown phenomenally in the past 40 years with trade leaping from $765 million to $170 billion a year. China’s Deputy Foreign Minister Chen Xiaodong said the growth was on the basis of interlocking interests since 1978. The minister said this has therefore made China Africa’s largest trading partner during the last few decades. In …

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The Federal Executive Council (FEC) Wednesday approved N206 billion for the construction of 11.9 kilometre-link road to the second Niger Bridge. Briefing journalists at the end of the weekly FEC meeting in the State House, the Minister of Information and Culture, Alhaji Lai Mohammed, said the contract was awarded to Julius Berger. According to him, the project was initiated by …

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At least, two federal government institutions, a filling station, three major hotels, as well as the complex of a telecommunications company were Wednesday sealed by the Enugu State Government for alleged failure to remit about N30 billion in taxes to the coffers of the state government. The affected institutions include the National Orientation Agency (NOA), National Examination Council (NECO), the …

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The Nigerian Content Development and Monitoring Board (NCDMB) has signed a $10 million equity investment agreement with Waltersmith Refining & Petrochemical Company Limited for the construction of a 5,000 barrels daily modular refinery in Ibigwe in Imo State. At the signing ceremony held in Lagos, NCDMB Executive Secretary, Simbi Kesiye Wabote, and the Director of Finance and Personnel Management, Mr. …

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The Chairman, Federal Inland Revenue Service, Babatunde Fowler, on Wednesday said with the June 30 expiration of the deadline set for compliance with the Voluntary Asset and Income Declaration Scheme, the Federal Government was set to descend on defaulters. He said the government would take all necessary legal steps to ensure that the defaulters were brought to book. Fowler stated …

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