News

United Bank for Africa (UBA) Plc,  has released its audited 2016 full year results, showing a significant growth in gross earnings and profits. A statement from the bank on Sunday attributed the improved earnings and profits to its resilience, enhanced productivity and geographic diversification, evident in the impressive contribution from its African subsidiaries. The UBA Group reported a 22 per …

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New investors on Friday took control of Keystone Bank Limited and announced plans to reposition the lender on the path of growth with immediate effect. This follows the announcement by the Asset Management Corporation of Nigeria on Tuesday that the Sigma Golf-Riverbank Consortium had acquired Keystone Bank. Sigma Golf-Riverbank Consortium comprises Sigma Golf Nigeria Limited and Riverbank Investment Resources, both …

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A medical practitioner, Dr Arikawe Adeolu, on Friday warned the public against consumption of fishes with high mercury content, saying it can cause neurological damage to the body. Adeolu, who works with the Federal Medical Centre, Jabi, Abuja, gave the warning in an interview with the News Agency of Nigeria in Abuja. According to him, consuming fish with high mercury content …

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Unilever Nigeria Plc. recently released its audited results for the year ended 31 st December 2016 posting N69bn turnover. The Company recorded a significant leap in PAT from its 2015 position of N1.19bn to close the year with PAT of N3.07bn. The Company’s results for the year ended 31 st December 2016 shows sustained growth and resilience even under depressed …

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The Nigerian Export Promotion Council has stated that 50 per cent of fruits and vegetables harvested in Nigeria get damaged on a daily basis. The council said that in addition to post harvest losses, the country also suffered a huge revenue loss from poor packaging of agricultural produce meant for export. The Executive Director and Chief Executive Officer, NEPC, Mr. …

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Biogaran, a French pharmaceutical company specialized in generic and biosimilar medicines, and a subsidiary of Servier, today announced the takeover of all the activities of Swipha, a Nigerian company that manufactures and distributes pharmaceutical products known for their quality. This is an important step forward in the internationalization of the French company Biogaran. In order to develop new markets to …

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Ambassador, Royal Norwegian Embassy, Jens – Petter Kjemprud and President, Lagos Chamber of Commerce and Industry, (LCCI) during a Courtesy Visit by the Ambassador to the LCCI on Thursday at the Commerce House.

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Labour unions in the aviation sector on Thursday shut down Arik Air operations, vowing to continue the action until the airline agreed to implement the agreement reached by the two parties in December. The unions involved in the action are National Union of Air Transport Employees, Air Transport Services Senior Staff Association of Nigeria and National Association of Aircraft Pilots …

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By Tayo  Olanipekun, Lagos The Connected Development (CODE) has released its “citizen monitors” report for 2016, detailing how its engagements with governments and agencies in Nigeria prompted the utilization of intervention funds in their custody. The report from the non-governmental organisation, a product of its Followthemoney program, revealed that between 2014 and 2016, part of a total sum of N82, 229, 500, …

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A 30-year-old man, Frank Igwe, who allegedly used some fake Nigerian currency to pay a sex worker for her services, was on Wednesday charged before a Yaba Chief Magistrate Court in Lagos. The accused, whose address was not given, is facing a charge of unlawful possession of fake currency. The prosecutor, Sgt. Ibijoke Akinpelu, told the court that the accused …

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