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Great Nigeria Insurance, a general insurance provider in Nigeria has just reported NGN814.5 million as its profit after tax compared to NGN640.1 million. Gross premium written within the period rose to NGN2.85 billion versus NGN1.45 billion the previous year.
Wema Bank Plc, a tier 2 bank in Nigeria said its profit before tax rose slightly to NGN1.80 compared to NGN1.49 billion disclosed last year. Net interest income for the regional lender rose to NGN12.23 billion compared to NGN12.79 billion in the previous year.
As an update on the proposed sale of 9mobile to potential investors, Nigerian lenders who are being owed about USD1.2 billion by the mobile carrier might have appointed Barclays to look for buyers. According to Reuters News, Nigerian lenders who advanced the loan to 9mobile, formerly Etisalat has appointed British […]
Manchester United and the General Sports Authority of Saudi Arabia have today agreed on a Memorandum of Understanding, which will see the 20-time English League champions help the GSA develop its football industry, as part of its 2030 Vision. The new strategic partnership will involve United lending its business and […]
JetBlue Airways has severed relationships with about 10 of its longstanding online travel booking companies in a cost-cutting strategy. The airline explained that the move is part of its structural cost program to reduce costs across the airline. The change marks the first phase of a new online distribution strategy, […]
Carl-Henric Svanberg, the current chairman of British oil giant, BP has informed the company’s board of directors of his intention to retire as chairman. Mr Svanberg will chair the annual general meeting to be held in May 2018 and will remain in position until a successor is in post. Ian […]
Ikeja Hotels plc in its financial report for the half year recorded NGN201.5 million profit compared to NGN471.4 million recorded same period in the financial year 2016, which represents 57% fall in profit year on year comparison. The group ended the period with NGN5.4 billion revenue in contrast to NGN4.9 […]
A federal grand jury returned an indictment against Nippon Chemi-Con Corporation, an electrolytic capacitor manufacturer for participating in a conspiracy to fix prices. Nippon Chemi-Con Corporation was accused of fixing prices for electrolytic capacitors sold to customers in the United States and elsewhere, the Department of Justice announced today. The […]
The shareholders of International Breweries Plc, Intafact Beverages Limited and Pabod Breweries Limited have approved resolutions authorizing the merger of the three companies. The company said in a statement that shareholder’s approvals were granted during separate court-ordered meetings of each of the Merging Entities which held on Wednesday, 18 and […]
The Board of Directors of Dangote Cement PLC. (DCP) has appointed Eng. Joseph Makoju as the company’s Acting Managing Director/ Chief Executive Officer. In the circumstance, Mr. Onne Van der Weijde, the Chief Executive Officer (CEO) of the company will step down as the company’s CEO at the end of 2017 […]