The Central Bank of Nigeria (CBN) and FBN Holdings Plc have asked a Federal High Court sitting in Lagos to dismiss a suit filed by an investment firm, Barbican Capital Ltd, over the alleged alteration of its alleged 5,386,397,202 units of shares in the bank, according to court documents seen[Read More…]
Author: Godwin Anyebe
Nigeria’s economic activities drop for 13th straight month in July, says CBN
Economic activities in Nigeria fell for the thirteenth month in July as high costs reduced new orders and employment declined, Central Bank’s Purchasing Managers’ Index showed. According to the report released Wednesday, the composite PMI stood at 49.7 points indicating a contraction in economic activities for the thirteenth consecutive month.[Read More…]
Manufacturers’ losses drop to N223bn as FX pressure eases
Some of Nigerians’ biggest manufacturers have seen their losses reduce in the second quarter of 2024, largely on the back of a drop in finance costs (including foreign exchange costs) and other measures taken to stay afloat. This respite comes after the Federal Government reforms implemented last year negatively impacted[Read More…]
How Emmanuel Okonkwo allegedly stole N212.7m from Stanbic IBTC
Operatives of the Force Intelligence Department at the Force Headquarters Annex, Moloney, Obalende, Lagos have arrested a 29-year-old staffer of Stanbic IBTC Bank Headquarters located at Victoria Island, Lagos, Chukwudi Emmanuel Okonkwo for allegedly stealing the sum of N212.7m. Okonkwo was dragged before a Lagos Magistrates’ Court for allegedly fraudulently[Read More…]
How we grew from 5m to 33m customers in 5 years –Umeoji, CEO, Zenith Bank
Dame Adaora Umeoji, the Group Managing Director and Chief Executive Officer of Zenith Bank Plc, has shed light on how the financial giant expanded its customer base from 5 million to 33 million in just five years. During the “Facts Behind the Offer” meeting at the Nigerian Stock Exchange (NGX)[Read More…]
Lanre Adisa Takes the Helm as New AAAN President: Navigating Challenges and Embracing Opportunities
Lanre Adisa, CEO of Noah’s Ark Communications Ltd, has been appointed the new President of the Association of Advertising Agencies of Nigeria (AAAN). As he steps into this influential role, Adisa inherits a dynamic industry poised for transformation, with numerous opportunities and challenges on the horizon. His leadership promises to[Read More…]
The 10th African Quality Achievement Awards Set to Honor Excellence in Africa
The African Quality Academy is proud to announce the 10th Annual African Quality Achievement Awards, which will take place on the 30th of August 2024 at the prestigious Civil Centre in Lagos, Nigeria. This landmark event marks a decade of celebrating outstanding contributions to quality and excellence across the African[Read More…]
NGX index down 0.72 %, as BUA Cement, Zenith Bank, GTCO shed weight
WorldStage Newsonline– Trading on the Nigerian Exchange reversed its previous session’s gain on Monday, recording a loss of N404 billion or 0.72 per cent for equity market investors. The market’s decline was primarily driven by losses in major stocks, including BUA Cement and Tier-one banks such as Zenith Bank and[Read More…]
CAMCONIA is Set to Hold Annual Retreat
The Corporate Affairs Managers Committee of the Nigerian Insurers Association (CAMCONIA) is set to hold its annual retreat within the month in Abeokuta. The elite body of Brand, Marketing and Corporate Communications professionals in the Nigerian Insurance industry’s retreat, first in recent time, seeks to herald a new beginning for[Read More…]
DRUGS: Tight regulations can create monopoly, expert cautions NAFDAC
As pharmaceutical industry players await the full implementation of the Executive Order recently signed by the President, a former President of the Pharmaceutical Society of Nigeria, PSN, Pharm. Olumide Akintayo, has raised alarm over the crippling impact of the National Agency for Food Administration and Control, NAFDAC, regulations on Nigeria’s[Read More…]
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FG Revenue Rises 76% to N12.5tn, Fueled by Tax and Oil Gains — Budget Office
The Federal Government’s earnings have increased by 76 percent, rising from N7.1 trillion in 2022 to N12.5 trillion in 2023, due to higher taxes and oil revenues. This information was revealed in the recently released 2025-2027 Medium Term Expenditure Framework and Fiscal Strategy Paper from the Ministry of Budget and[Read More…]