Honeywell Flour Mills Plc has appealed against partial freezing of its accounts by the Federal High Court in Lagos following an application by Ecobank Nigeria Limited. The court had, following an ex-parte application by the bank’s lawyer, Mr. Kunle Ogunba (SAN), restrained chairman of Honeywell Group, Dr. Oba Otukedo, the company’s directors and subsidiaries from […]
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SKYE Bank has revealed that it is seeking to raise fresh capital in the first quarter of 2016 in a bid to shore up its capital base. This was disclosed by the company’s Group Managing Director/Chief Executive Officer of the Bank, Mr. Timothy Oguntayo at an at an interactive session with top stockbrokers in Lagos […]
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PRESIDENT Barack Obama took to the Detroit auto show today for a victory lap around the industry his administration saved in the depths of the financial crisis. There’s no doubt that the American car business today reflects the goals Obama set seven years ago. Detroit automakers enjoy record sales and huge profits, while employing more […]
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Profit loss suffered by consumer goods company, PZ Cussons Plc, for the second year at the end of its 2015 financial year ended May, may continue at the end of the current financial year ending May 2016. This is because the company lost one-third of the after tax profit on year-on-year basis at the end […]
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The challenges of inability to grow revenue being faced by major financial institution, Union Bank Plc, could lead to a drop in gross earnings for the bank at full year. Rising interest cost is hurting profit capacity and the bank isn’t likely to achieve up to one-half of its preceding year’s profit based on the […]
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Guinness Nigeria Plc has approached a Lagos High Court in Igbosere to challenge the N1bn fine imposed on it by the National Agency for Food and Drug Administration and Control. The company urged the court to perpetually restrain NAFDAC from publicly discussing, analysing or providing any information to the media, whether print, electronic or in […]
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Customers and traders in Sabo Market Ikorodu were super excited to witness another stimulating draw. Several people went home with cash prizes and instant gift items in the Skye Bank “Reach for the Skye Millionaire Reward” scheme. The monthly draw which took place at the Better Life Market day in Sabo Market on Wednesday, December […]
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It has been made known to Nigerian farmers by a Dutch court that they can sue Royal Dutch Shell in Netherlands for the pollution they blame on oil spills from the pipelines of the company’s Nigerian subsidiary. Shell had challenged the authority of Dutch courts to rule on its activities in Nigeria. Judges in The […]
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The Nigeria Union of Petroleum and Natural Gas Workers has warned the management of the Nigerian National Petroleum Corporation against the plan to sack about 1,100 employees of the corporation. The oil workers’ union, in a statement on Friday, said it would resist the impending job losses, which according to it, is contrary to the […]
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The Nigerian Copyright Commission has filed criminal charges against MTN Nigeria and its Chief Executive Officer, Ferdi Moolman, for copyright infringement. According to a report by ThePunchNg, the charge was filed in the Federal High Court, Abuja The charge, with number ABJ/CR/379/2015, was filed at the Federal High Court, Abuja, on Friday. In the two-count-charge, […]
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Sterling Bank Plc will raise N35bn ($177m) in Tier II capital between January and February to expand its loan book next year, its Chief Executive Officer, Mr. Yemi Adeola, has said. He said the mid-tier lender saw no need to raise fresh equity capital, adding that the commercial lender had N90bn in shareholders’ fund with […]
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Mobile phone operator, MTN Nigeria has resolved to challenge the $3.9 billion fine imposed on it by the Nigerian Communications Commission (NCC), TechCentral is reporting. MTN, in a statement to shareholders today, said it decided to take this route after exhausting all other options to have the fine reduced. MTN said that “All factors having […]
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