Category: SITREP

  • Oando: London court orders Tinubu’s firms to pay $680m debt

    Oando: London court orders Tinubu’s firms to pay $680m debt

    Oando: London court orders Tinubu firms to pay $680m debt: A fresh twist emerged in the Oando Plc crisis following an order by the London Court of International Arbitration (LCIA) which directed the two companies owned by the Chief Executive Officer of Oando Plc, Mr. Wale Tinubu and his deputy, Mr. Mofe Boyo, to pay […]

  • Mahindra to grow farm-tech, mobility power solutions for Nigeria

    Mahindra to grow farm-tech, mobility power solutions for Nigeria

    Mahindra & Mahindra Limited with its channel partners in Nigeria, Springfield Agro Ltd., and VIP Merchandise Enterprise Ltd. Have unveiled its plans for scaling up and expanding operations in Nigeria; offering customized and focused solutions in the areas of agriculture and farm-tech prosperity, mobility and power generation. For years, Mahindra has been partnering in the […]

  • UBA emerges best Institution in digital banking across Africa

    UBA emerges best Institution in digital banking across Africa

    UBA emerges best Institution in digital banking across Africa: Pan-African financial services group, United Bank for Africa Plc, was named Africa’s best bank in the Digital category at the prestigious Euromoney awards in London. The Euromoney awards ceremony, which was held on Wednesday, July 11, 2018 covers more than 20 global product categories, best-in-class awards […]

  • IPMAN: Umana heads a 12-man caretaker committee

    IPMAN: Umana heads a 12-man caretaker committee

    A newcaretaker executive of the Independent Marketers Association of Nigeria (IPMAN) has emerged in Cross River State with an assurance of an uninterrupted supply of petroleum products in the state. The 12-man team is headed by Elder Edet Umana, who is also the chairman, caretaker committee of the Nigerian National Petroleum Corporation/Pipelines and Product Marketing […]

  • Prudential Zenith launches savings plan

    Prudential Zenith launches savings plan

    Prudential Zenith launches savings plan: Prudential Zenith Life Insurance has launched a savings plan that allows customers to meet their long-term needs. The company recently launched a suite of new life insurance products, including My Savings Plan and My Family Protection Plan. The new products came on the heels of the recent launch of the […]

  • Why Ericsson Shares Global Reports on Mobile Data Traffic

    Why Ericsson Shares Global Reports on Mobile Data Traffic

    In this interview, Chafic Traboulsi; Head, Networks; Ericsson, Middle East & Africa Gives Insight on the Importance of Regular Mobility Report on Live Networks across the Globe. Excerpts How did you arrive at the numbers released in the report? The Ericsson figures for actual and net added subscriptions are based on several data sources including […]

  • Afreximbank holds AGM in Abuja

    Afreximbank holds AGM in Abuja

    Afreximbank holds AGM in Abuja: The 25th anniversary and Annual General Meetings of African Export lmport Bank (AFREXIMBANK) begin on Wednesday 11 July, 2018, at the Transcorp Hilton Hotel, Abuja. The meetings are open to the banking industry professionals, trade and trade finance practitioners and other stakeholders involved in economic development from across Africa and […]

  • Stakeholders canvass efficient commodity exchange to support non-oil sector

    Stakeholders canvass efficient commodity exchange to support non-oil sector

    “Stakeholders canvass efficient commodity exchange” Capital market stakeholders have called for concerted efforts towards establishing a functional commodities exchange in Nigeria, stating that this would support the non-oil sector to become a major export earner for the country. Commodities referred to as primary products, are raw materials extracted from the earth under-going little or no […]

  • Equities market gains N612bn in 3 days

    Equities market gains N612bn in 3 days

    Equities market gains N612bn in 3 days: Bargain hunting in bellwethers extended the positive performance in the local bourse to the third consecutive trading session as Investors gained a total of N612 billion to pull the year to date (YTD) out of the negative territory to 0.5%. The market gained N47.4bn on Monday, N328bn on […]

  • Conoil declares N1.4 billion total dividend

    Conoil declares N1.4 billion total dividend

    Amid harsh operating environment, the directors of Conoil Plc are recommending N1.4 billion as dividend payout to its shareholders for 2017 financial year. This translates to N2.00 per every 50 kobo ordinary share. According to a statement by the company, the proposed dividend is expected to be ratified by its shareholders at the company’s forth […]

  • CBN injects $210m into forex market

    CBN injects $210m into forex market

    CBN injects $210m into forex market: The Central Bank of Nigeria (CBN) on Wednesday further intervened in the forex market by supplying the the inter-bank Foreign Exchange market with the sum of $210 million. The bank offered the sum of $100m to authorized dealers in the wholesale segment of the market while the Small and […]

  • Airline operators threaten to stop VAT payment June 14

    Airline operators threaten to stop VAT payment June 14

    There is an imminent face-off between the Federal Government and airline operators over payment of Value Added Tax (VAT). The operators under the umbrella of Airline Operators of Nigeria (AON) yesterday rose from their meeting where they resolved to stop remittances of VAT from June 14. They also cautioned government against setting up a national […]