Company Report
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Gulfstream enters agreement with ExecuJet Aviation to provide warranty, maintenance service
W’Africa Gulfstream Aerospace Corporation has announced a new authorised warranty facility agreement with ExecuJet Aviation Nigeria (EJAN) in Lagos, to provide warranty and maintenance service and spare parts for Gulfstream G450, Gulfstream G550, Gulfstream G650 and Gulfstream G650ER aircraft in West Africa. The 275,000-square-foot/25,548-square-meter VIP aircraft terminal facility encompasses an international departure/arrival terminal, fixed based operator (FBO) and maintenance facility.…
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BUA not interested in Kogi land, says management
The management of BUA International Limited has disclosed that it is not interested in any land in Kogi State, highlighting lack of infrastructure, insecurity, and outcome of feasibility studies that showed that the land is not suitable for business. The management, in its response to the Director-General, Bureau of Lands and Urban Development in Kogi State with titled; ‘Re: Demand…
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Lafarge SA fined $777m, pleads guilty to paying ISIS
Lafarge SA on Tuesday pleaded guilty and agreed to pay $777.8 million to resolve a U.S. federal criminal charge related to the French company’s payments to ISIS and another terror group to keep a cement plant operating in Syria. The $10.24 million in payments to ISIS, the al-Nusrah Front and intermediaries were made from August 2013 through October 2014, and…
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Our acquisition of Obajana Cement plant followed due process, says Dangote
The management of Dangote Industries Limited has insisted that its acquisition of the Obajana Cement Plc in 2002 followed due process, contrary to claims by the Kogi State government. The conglomerate asserted that Kogi State government has no equity interest in Obajana Cement Plc. It also stated that the company as a responsible corporate organisation has been paying relevant taxes,…
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Dangote Cement refutes involvement in Kogi assembly fire outbreak
The management of Dangote Cement Plc has refuted claims of its involvement in the fire outbreak that happened at the Kogi State House of Assembly complex. Earlier on Monday, WesternPost had reported that parts of the House of Assembly in Lokoja was gutted by fire and Dangote cement was accused of allegedly sponsoring arsonists to set the complex on fire.…
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Airtel Africa loses N752bn in market cap
Airtel Africa Plc, one of the major telecommunications companies quoted on the Nigerian Exchange (NGX) recorded a loss of N752 billion at the end of weekly trading to rank among the top losers of the week, following sustained sell pressure witnessed on the stock. The telecoms company’s stock dropped by 10per cent to N1,800 per share, from N2000, which was…
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MAN condemns invasion of Dangote Cement plant by Kogi govt
The Manufacturers Association of Nigeria (MAN) has strongly condemned Wednesday’s invasion of Dangote Cement Plant by the state’s security outfit, the Vigilantes, on the order of Governor Yahaya Bello, noting that such action will discourage new investments in the state. The president, MAN, Mansur Ahmed, at a press conference to herald its 50th Annual General Meeting (AGM) scheduled to hold…
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Fidelity Bank to showcase best of Nigeria’s non-oil exports to international markets
In continuation of its bid to help Nigerian businesses compete favourably in international markets, leading financial institution, Fidelity Bank Plc, has announced plans to host the maiden edition of the Fidelity International Trade and Creative Connect (FITCC). Scheduled to hold next week in London, United Kingdom, FITCC will host leading businesses, entrepreneurs, investors and regulators operating in the commodity, service,…
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Seven Dangote workers shot as Kogi govt vigilantes invade Obajana cement plant
Seven staff of Dangote Cement, Obajana in Kogi State were shot and several others injured as over 500 armed members of the state’s security outfit, the Vigilantes, stormed the cement factory in the early hours of Wednesday at the instance of the state governor, Yahaya Bello. Meanwhile, members of the mining and host communities have condemned the Kogi State government…
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Jilnas Nigeria Quote CPs on FMDQ Exchange
The FMDQ Securities Exchange Limited (FMDQ Exchange) has approved the quotation of the Jilnas Nigeria Limited N2.87 billion Series 1 (Tranche A) and N0.23 billion Series 1 (Tranche B) Commercial Papers (CPs) under its N5 billion CP Issuance Programme on its platform. The successful admittance of these CPs continues to validate FMDQ Exchange as the preferred platform for the registration,…
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