By Taofik Salako The boardroom tussle, board and management changes and reinstatement, the multi-billion naira shares acquisition and the didactics of largest single individual shareholder and majority or controlling shareholders at Nigeria’s oldest financial services group-FBN Holdings (FBNH) Plc, were some of the highpoints of corporate governance issues in 2021. FBN Holdings, the holding company […]
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Ecobank Nigeria has unveiled a state-of-the-art branch and digital experience centre strategically located at the heart of the highbrow Admiralty Way in Lekki area of Lagos. Officially opening the branch to the public, Managing Director/Regional Executive, Patrick Akinwuntan said it is part of the bank’s digital transformation drive to provide seamless world-class banking services to […]
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Billionaire businessman, Femi Otedola, who recently upped his stake in FBN Holdings in a bid to firm up his position as its biggest shareholder, said he is not keen about holding a board position in the financial services group, its flagship unit FirstBank and any of its remaining subsidiaries. He says he believes in allowing […]
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• Bank MD admits failure of ABP loans, as recapitalisation fails • BPE affirms BoA unviable, difficult to recapitalise Strong indications have emerged that the Bank of Agriculture (BoA) has technically become unsustainable and riddled with bad debt to the tune of N77.1 billion. This is amid failed restructuring and recapitalisation plans that had been […]
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We’ve invested N3b to boost cocoa business in Ondo, Nigeria – Johnvents Ondo State Governor Oluwarotimi Akeredolu will next week launch a multi-billion naira cocoa processing plant to boost Nigeria’s export trade. Already, the agro-allied indigenous company handling the project, Johnvent Industries Nigeria Limited, has invested N3 billion to boost cocoa business in the state […]
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MTN Nigeria Communications Plc (MTN Nigeria) today begins the sale of 575 million shares held in MTN Nigeria by MTN Group to retail investors to broaden the shareholding base of the telecoms company. Its Chief Executive Officer, Karl Toriola, during a press conference yesterday said the sale of the shares was not designed to raise […]
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Nigeria’s largest telecommunications company, MTN Nigeria Communications (MTN Nigeria) Plc will on Wednesday open application list for its public offering of 575 million ordinary shares to the general retail investing public at a price of N169 per share. The offer period ends on December 14, 2021. Minimum subscription is 20 shares and thereafter in multiples […]
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Transactions on the Nigerian Exchange Limited (NGX) reopened on a downward note yesterday, occasioned by losses in many blue-chip stocks, causing market capitalisation to slump by N20 billion. Specifically, at the close of trading yesterday, market capitalisation of listed equities declined by 0.08 per cent to N22.578 trillion from N22.598 trillion reported on Friday. Similarly, […]
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The National Information and Technology Development Agency (NITDA) and Nigerian Export Promotion Council (NEPC) have forged an alliance that could enable Nigeria to benefit from the yearly $4.7 trillion exportation of digital services. This alliance is in line with the Digital Innovation and Entrepreneurship Pillar of the NITDA’s 2021-2024 Strategic Roadmap and Action Plan (SRAP) […]
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Nigeria and other African countries sealed trade-related investment deals worth $42.1 billion at the recently concluded second Intra-African Trade Fair (IATF 2021) held in Durban, South Africa. According to the latest tally released by the IATF Advisory Council, the figures captured additional data submitted by Trade Promotion Agencies of Algeria, Nigeria and South Africa. Organised […]
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