Company Report
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FAAN resumes direct cargo revenue collection at Lagos airport after 15 years
The Federal Airports Authority of Nigeria (FAAN) has resumed direct revenue collection at the cargo terminals of the Murtala Muhammed International Airport (MMIA), Lagos, marking the first time in 15 years that the agency will oversee real-time revenue collection from cargo operations. In a statement signed on Friday by Mrs. Obiageli Orah, Director of Public Affairs and Consumer Protection, FAAN…
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Champion Breweries enters agreement to acquire Bullet from Sun Mark
Champion Breweries Plc has entered into an agreement to acquire the brand assets and intellectual property rights of the Bullet range of alcoholic and energy beverages from Sun Mark International Limited. The company, a subsidiary of enJOYcorp, announced in a filing on the Nigerian Exchange (NGX) on Wednesday, that the acquisition of the Bullet energy beverage portfolio aligns with its…
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FTN Cocoa Processors declares N10.62bn loss in 2024FY
FTN Cocoa Processors Plc on Monday announced on the Nigerian Exchange Limited (NGX) N10.62 billion loss before tax in its audited result and accounts for full year ended December 31, 20024, as against N10.65 billion loss before tax declared in 2023. The agro-allied company that specialized in the production and supply of cocoa and palm kernel productsin in its profit…
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Shettima hails Zenith Bank at 35th anniversary, praises founder Jim Ovia’s vision
…VP says bank’s culture of innovation, integrity has shaped Nigerian finance By Kunle Sanni – Vice President Kashim Shettima has commended Zenith Bank for its culture of innovation and integrity, describing the institution as a force that has transformed Nigeria’s banking industry and set global standards. Speaking on Saturday at the bank’s 35th anniversary celebration in Lagos, Shettima lauded founder…
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Bosquet Investments acquires 21.22% stake in ETI from Nedbank Group
Ecobank Transnational Incorporated (ETI), the parent company of the Ecobank Group, confirms the execution of a purchase agreement between Nedbank Group Ltd. and Bosquet Investments Ltd, the private investment vehicle of Alain Nkontchou, for the acquisition of a 21.22per cent stake in ETI. This transaction remains subject to regulatory approvals. Enko Capital Management LLP served as the lead advisor for…
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NASENI, Portland commission CNG hub in Abuja to enhance clean energy transition
The National Agency for Science and Engineering Infrastructure (NASENI) and Portland Gas Ltd have commissioned a Compressed Natural Gas (CNG) Conversion, Training Centre, and Refill Station in Kubwa, Abuja, as part of efforts to drive Nigeria’s clean energy transition. Speaking at the event, the Speaker of the House of Representatives, Hon. Tajudeen Abbas, commended NASENI for promoting affordable and cleaner…
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The Alternative Bank targets farmers, others with national financial inclusion, entrepreneurship drive
The Alternative Bank, has ramped up its efforts to promote economic empowerment and financial inclusion for market traders and smallholder farmers across the country. With a focus on improving access to banking services, the Bank is providing critical financial support to some of Nigeria’s most underserved communities. The initiative, undertaken through an agreement between Sterling Financial Holdings Company and the…
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NNPC pulls out of Buhari-era road scheme after spending $577.6m, N822.3bn
By Kunle Sanni – The Nigerian National Petroleum Company Limited (NNPC) has withdrawn from the Road Infrastructure Tax Credit Scheme (RITCS), a flagship policy launched in 2019 under the late former President Muhammadu Buhari. The exit follows contributions of $577.6 million and N822.3 billion over a 16-month period, according to the Federation Account Allocation Committee (FAAC). The move allows the…
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9mobile rebrands to T2 amid strengthen market share in telecom sector
9mobile, the fourth-largest telecom operator in Nigeria has officially rebranded as T2, unveiling a new name and brand identity at a corporate event titled Tech Meets Tenacity in Lagos. The rebrand, which includes a shift from the company’s longstanding green colour scheme to orange, marks a significant transition in the company’s operations and market outlook. The announcement was made by…
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United Capital reports 57% increase in profit to N23.76bn
United Capital Plc, has once again demonstrated its market leadership with the release of its unaudited financial results for half year (H1) ended June 30, 2025, showing remarkable growth across key financial indicators. The leading Pan-African investment bank and financial services group, reported N23.76billion revenue in H1 2025, about 57 per cent year-on-year growth from N15.15 billion reported in H1 …
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