Company Report
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Aliko Dangote Foundation’s free rice excites host communities in Ogun state
Over 30 host communities to Dangote Cement Ibese Plant as well as those in Itori in Yewa North, Ewekoro local government aeras of Ogun State respectively were thrown into excitement as the Aliko Dangote Foundation, (ADF) extended its National Food Intervention programme to the people distributing over 3000 bags of rice to the less privileged in the communities. L-R, Head…
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ETI to raise $250m in additional Tier-1 capital
Ecobank Transnational Incorporated (ETI) has received shareholder authorization to raise up to $250 million in Additional Tier 1 (AT1) capital qualifying instruments, following a resolution passed at the company’s Extraordinary General Meeting (EGM). This development comes on the heels of ETI’s successful issuance of $125 million in 10.125% Senior Notes due in 2029. The latest notes, issued on May 15,…
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CBN sanctions Sterling Financial Holdings N379m in 2024FY
The Central Bank of Nigeria (CBN) has imposed a N379 million sanction on Sterling Financial Holdings in the 2024 financial year. The lender was in 2023 sanctioned N28.75 million for falling to comply with two market rules and regulations. In the 2024FY, the CBN imposed sanction on the Holdings for failing wiith comply wiith five market infractions that comprise of…
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Alpha-Beta denies allegations of nepotism, underpayment in Sahara Reporters article
Alpha-Beta Consulting LLP has condemned a June 11 article by Sahara Reporters titled “Tinubu-Linked Alpha Beta Consulting Pays N400,000 Gratuity After 20 Years Of Service, Hands Millions, Top Contract Jobs To GMD Loyalists.” In a statement signed by the firm’s Head of Human Capital Management, Mrs. Anjolaoluwa Ige, the report was described as “malicious, unfounded, and grossly misleading.” The company…
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After 20 years, Dangote retires as Chairman of Dangote Sugar Refinery
The Chairman, Board of Dangote Sugar Refinery Plc, Aliko Dangote has retired as the chairman of the company after 20 years of running its affair. The company’s secretary, Temitope Hassan in a statement disclosed that his retirement takes effect from June 16, 2025. Dangote, who has been at the helm of leadership since 2005, is credited with steering Dangote Sugar into…
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Aliko Dangote Foundation donates 10,000 bags of rice to Enugu state
…distribution begins at Local government levels The Aliko Dangote Foundation as part of its National Food Intervention Programme has donated 10,000 bags of 10kg of rice to the economically vulnerable in Enugu State. The State Government took delivery of the bags of rice at the weekend in Enugu. The representatives of the 17 local governments areas gathered at the…
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MTN backs Nigerian youth with $3,000 in eco-innovation challenge
As Nigeria faces mounting waste management and unemployment, youth-led green innovation offers new hope with MTN Nigeria supporting youth with $3000 in eco-innovation challenge. A young Nigerian eco-innovator is making headlines after securing runner-up honours in the 2024 Africa PatchiPanda Challenge, MTN’s continent-wide competition to find the most promising green tech entrepreneurs. A 34-year-old Nigerian eco-entrepreneur, Olabisi Rafatu Emmanuel was…
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Ecobank ‘Adire’ Lagos exhibition fair opens in grand style
Ecobank Nigeria has officially launched the much-anticipated fourth edition of its Adire Lagos Exhibition Fair, a vibrant cultural and commercial event dedicated to promoting Nigeria’s indigenous fashion industry and supporting Small and Medium Enterprises (SMEs). Over 130 vendors are showcasing a diverse range of Adire designs, fashion items, and lifestyle products. The fair attracts a wide audience, including fashion enthusiasts,…
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Oando profit up 267% to N220bn in 2024FY
Oando Plc posted robust Audited Full Year (FY) 2024 financial results with a 44per cent increase in revenue to N4.1trillion compared to N2.9 trillion in 2023. In the upstream, Oando’s production witnessed a three per cent increase to 23,727 boepd; made up of crude oil production which increased by 27per cent to 7,558 bopd, while NGL production and gas decreased…
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Access Bank, collaborates with Gates Foundation, MSC to empower 50,000 female CICO agents
Access Bank Plc, the Gates Foundation, and MicroSave Consulting have entered into a partnership to empower 50,000 female Cash In and Cash Out (CICO) agents across Nigeria through a new financial inclusion initiative. The initiative, titled Scaling Female Agent Networks in Nigeria, aims to increase women’s participation in the agency banking space by providing them with training, financial support, and…
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