In its drive to increase the economic growth and consolidate its position as Africa’s economic hub, Lagos State Government has called on foreign investors, particularly those interested in investing in Nigeria, to consider Lagos as the best destination for their investments. The State also expressed readiness to partner with any investors with a strong assurance […]
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Africa’s Global Bank, United Bank for Africa Plc (UBA), , released its financial results for the first quarter ended March 31st, 2024, showing very strong growth across key performance measures. The Group’s results, which were released to the Nigerian Exchange Limited (NGX) on Friday May 3rd, 2024, saw outstanding year-on-year increases: Gross Earnings rose […]
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Dangote Sugar Refinery Plc (DSR) has unveiled plans to produce 700,000 metric tonnes of refined sugar from locally grown sugarcane in the next four years, through its Backward Integration Programme (BIP). Chairman of Dangote Sugar Refinery Plc, Aliko Dangote stated this at the company’s 18th Annual General Meeting (AGM) held yesterday in Lagos, just as […]
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Africa’s Global Bank, United Bank for Africa (UBA), on Thursday, held the second edition of its expanded Graduate Management Acceleration Programme (GMAP) class of 2024, where 398 young Africans were inducted into the UBA Tribe after a rigorous six-month hands-on-work and learning experience. The event, which was held in a grand ceremony in Eko Hotel, […]
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The Central Bank of Nigeria (CBN) has approved the sale of an additional $10,000 to 1,583 eligible Bureaux De Change (BDCs) in the country to meet market demands. The Director, Trade and Exchange Department of the CBN, Dr Hassan Mahmud, made this known in a letter addressed to the President, Association of Bureau De Change […]
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Former Deputy Speaker of the House of Representatives, Mr Emeka Ihedioha, on Tuesday, resigned his membership of the Peoples Democratic Party (PDP). Ihedioha, also a former Imo governor said this in a letter addressed to the ward chairman of the party at Mbutu in Aboh Mbaise Local Government Area of the state on Tuesday. The […]
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The National Agency for Science and Engineering Infrastructure (NASENI), is set to collaborate with Nasarawa state government and Bobtrack Tractors, a division of Saint Bob Motors Limited to start the manufacturing and assembling of tractors in the north-central geo-political zone. The facilities and infrastructure available at one of NASENI’s Institutes, Agricultural Machinery and Equipment Development […]
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Dangote Petroleum Refinery has again announced a further reduction in the prices of both diesel and aviation fuel to N940, N980 per litre respectively. This is coming in the wake of its widely celebrated price reduction to N1,000 barely two weeks ago. The price change of N940 applies to customers buying five million litres and […]
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The Board of FBN Holdings Plc, yesterday, announced the appointment of Mr. Olusegun Alebiosu as acting Chief Executive, First Bank of Nigeria Limited (FirstBank), its flagship subsidiary. The appointment came on the heels of the recent resignation of the bank’s Managing Director/Chief Executive, Dr. Adesola Adeduntan. In a statement to the Nigerian Stock Exchange, the […]
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Ecobank Transnational Incorporated (ETI) announced on the Nigerian Exchange Limited (NGX) that it has successfully repaid its $500 million 5-year Eurobond that matured on April 18, 2024. The Eurobond, which was issued in April 2019 was listed on the London Stock Exchange with a coupon rate of 9.5per cent. The bond garnered support from diverse […]
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Access Bank has announced the unveiling of the sixteenth season of DiamondXtra, a savings and reward account program, in Lagos. This season of the special interest-yielding hybrid account, which permits deposits of both cash and third-party cheques, has been enhanced with exciting prizes for customers. Participants stand the chance to win prizes totaling N200 million, […]
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Transcorp Power Plc (Transcorp Power), one of the electricity generating subsidiaries of Nigeria’s leading, listed conglomerate, Transnational Corporation Plc (Transcorp Group), has demonstrated impressive financial performance in its released Q1 2024 unaudited financial statements, for the period ended March 31, 2024. The Company recorded N67.86 billion in gross earnings, compared to N21.04 billion reported in […]
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