Shareholders of FCMB Group Plc, the holding company of First City Monument Bank (FCMB) Limited last weekend, unanimously approved the proposed dividend payment of N1.98 billion for the financial year ended December 2015. The shareholders commended the Board and management for the performance during the year under review despite the harsh operating environment.Read More
We make tasty, healthy indigenous convenience foods that are attractively packaged and competitively priced. Our first product which is the YesChilli and Ginger sauce has been in the market since January 2016. Presently, we are trying to establish the YesChilli brand.Read More
The declining financial performance of the Bank of Agriculture deteriorated in 2015 as its losses shot up by 3,742 percent to N7.1 billion. Meanwhile financial performance of Nigeria Security Printing and Minting Company (NSPM) or The Mint, improved during the year as its losses dropped by 94 percent to N345 million in 2015. This was disclosed by the Central Bank of Nigeria (CBN) in its Consolidated and Separate Financial Statements for the year ended 2015 released last week.Read More
The Director-General of the Consumer Protection Council, Mrs. Dupe Atoki yesterday blamed the ineffective use of the Council’s enabling legislation on the flagrant display of impunity by businesses and multinationals in the country. Atoki while addressing members of the Nigerian Bar Association (NBA) at the mentorship and business development programme in Abuja said the council was able to reduce the level of consumer abuse and in curbing the excesses of business owners and multinationals with the prosecutory powers of the Council’s Act.Read More
Digital hydro advertising seems to have died in Nigeria along with Late Managing Director of Spot-On Media, Sesan Ogunro. Since his demise, no ad agency has been able to replicate or repeat the feat exhibited at the Marina waters by Falomo Bridge, Ikoyi, Lagos, first of its kind in Africa.Read More
The protracted debt reconciliation problem between the Federal Airports Authority of Nigeria, FAAN, and domestic airlines has brought to the fore once again the popular view, or what is almost becoming a fact, that government ministries and parastatals do not keep proper accounting records of financial transactions they engage in.Read More
The report failed to explain in details what it meant by depoliticisation neither did it allude to the long-drawn battle between the executive and the legislative arms of government.Read More
The federal government has committed N44 billion to the development of social housing in the 2016 budget, in fulfilment of its proposed plan to build one million housing units across the country yearly. Prof. Mohammed Al-Amin, Managing Director of Federal Housing Authority (FHA), disclosed this when he visited the Turkish Embassy in Abuja, as a follow-up to the recent visit by Turkish President Tayyip Erdogan to President Muhammadu Buhari.Read More
The emergence of Information Technology has forever changed the way economic and social development occurs in Nigeria. Most stakeholders in IT industry prefer to talk about what’s coming.Read More
FBN Holdings Plc, the parent company of First bank Limited said it would cut jobs and focus less on providing loans to the oil industry in a bid to reverse last year’s 82 percent slump in profit.Read More
Despite the challenging operating environment in 2015, there has been a prediction that African capital markets are expected to see a gradual pickup in growth in 2016, with the markets expected to raise Initial Public Offers, IPOs of $3.1 billion .Read More
MANUFACTURERS Association of Nigeria, MAN, is heading to the National Assembly to influence speedy passage of seven bills into law by legislative arm of the government.
This is to spur competitiveness of the manufacturing sector.
A university don has argued that the cost of importing petroleum products for 30 days is capable of building up to 15 modular refineries in the country, even as he urged the federal government to tap from the technology of illegal refineries instead of destroying them.Read More
NIGERIA’S earnings from the petroleum sector dropped sharply, as revenue from the sale of crude oil dipped by N1.114 trillion to N1.86 trillion in the 2015 fiscal year, data obtained from the Central Bank of Nigeria, CBN, has revealed.Read More
SHARP practices among marketers and operators of filling stations have yielded about N10.7 million to the coffers of the Department of Petroleum Resources, DPR.Read More