Business

United Bank for Africa Plc (UBA) through UBA Foundation, its corporate social responsibility arm, has donated the sum of N500 million to the Lagos State Security Trust Fund (LSSTF), as part of its continued commitment to secure environment for individuals and businesses The N500million cheque was presented to the Lagos State Governor, Babajide Sanwo-Olu, by the UBA Group Chairman, Tony…

The Dangote Refinery and Petrochemicals complex has been hailed as an astonishing masterpiece, showcasing Nigeria’s technological advancements on the global stage. This accolade was shared by a delegation from the Japanese Business Community in Nigeria, led by Japan’s Ambassador-designate to Nigeria, Suzuki Hideo. The Dangote Group also reiterated that its petroleum products are in demand worldwide, as it expands its…

The Nigerian Maritime Administration And Safety Agency (NIMASA) has confirmed that oil spill occurred on Saturday at the Shell Petroleum Development Company (SPDC) loading terminal, SMI, in Bonny, Rivers State.In a statement issued by its Head, Public Relations, Osagie Edward, said that the incident resulted from a ruptured pipeline. According to NIMASA, SPDC has “promptly shut down the affected pipeline…

Shareholders under the aegis of the Independent Shareholders Association of Nigeria (ISAN) have expressed fear over possibility of share reconstruction by some banks after successful capital raising exercise on the Nigerian Exchange Limited (NGX). The National Coordinator of ISAN, Mr Moses Igbrude  said this at the 2024 Capital Market Correspondent Association of Nigeria (CAMCAN) annual workshop in Lagos. The workshop…

The Central Bank of Nigeria (CBN) has reiterated that all versions of the naira, including the old and new designs of the N1000, N500, and N200 notes, as well as the commemorative and previous designs of the N100 note, remain valid legal tender and will continue to be legal tender indefinitely. In a statement released on Friday, the Acting Director…

MTN Nigeria Communications Plc has notified the Nigerian Exchange Limited and the investing public of the successful completion of its Series 13 and 14 Commercial Paper (CP) issuance under the Company’s N250 billion Commercial Paper Issuance Programme. MTN Nigeria sought to raise N50 billion, but the offer recorded a 144% over subscription with N72.18 billion issued. The 180-day and 270-day…

The Obi of Onitsha, Igwe Nnaemeka Achebe, has said there is need for businesses in the South East to build partnership with national and international institutions in order to restore its historic status as a fastest-growing economic hubs globally. The Royal Father said this at the maiden South East Business and Investment Summit in Enugu city. WESTERN POST reports that…

Nigeria Civil Aviation Authority (NCAA) has approved the Ekiti Agro-Allied International Cargo Airport (EAICA), Ado-Ekiti to commence non-scheduled flight operation effective December 15th, 2024. This was disclosed by the Special Adviser to the Ekiti State governor on media, Yinka Oyebode, in a statement on Thursday. He added that as part of compliance steps towards the commencement of the non-scheduled flight…

Seplat Energy Plc, has announced that it has completed its acquisition of Mobil Producing Nigeria Unlimited (MPNU) from ExxonMobil .  The transaction is transformative for Seplat Energy, more than doubling production and positioning the Company to drive growth and profitability, whilst contributing significantly to Nigeria’s future prosperity. The completion of this acquisition has created Nigeria’s leading independent energy company, with…

Access Holdings Plc has announced that its banking subsidiary, Access Bank Plc, has entered into a binding agreement with South Africa-based Bidvest Group Limited for the acquisition of a 100per cent equity stake in Bidvest Bank Limited. This agreement reflects the Bank’s commitment to strengthening its footprint in South Africa and consolidating on its position as the continent’s gateway to…