SEPLAT said it has been made aware of some media publications on the enforcement by the Federal High Court in Ikoyi, Lagos, Nigeria. The lawsuit is a $114 Million judgment made by a UK High Court against Shebah Exploration & Production Company Ltd, Allene Ltd and Dr. Ambrosie Orjiako who […]
The Nigerian Central Bank, CBN, is said to be meeting with the representatives of MTN Nigeria in order to resolve the lingering row between the regulator and the mobile carrier. It was reported yesterday that the CBN might be reducing the total amount to be repatriated back to Nigeria. The […]
The row between the Central Bank of Nigeria might not die down anytime soon. Nigeria’s apex bank, the CBN, is demanding for a 15% interest to be paid by MTN Nigeria on the $8.1 billion illegal funds it allegedly transferred out of Nigeria from its local unit. MTN is Nigeria’s […]
Nigeria’s largest mobile carrier, MTN said it might abandon its plans to list its shares on the Nigerian Stock Exchange. NSE. It would be recalled that MTN had agreed with the Nigerian government to list 30% of its shares on the NSE as a result of the renegotiation of the […]
One of Nigeria’s second-tier lenders, Fidelity Bank said it made a total provision of N542 million in legal settlements on various cases it is involved in. The mid-sized lender disclosed in its half-year result disclosed that at the reporting date, the Bank had several claims against it by parties seeking […]
Nigeria’s Law Union & Rock Insurance Plc said it has appointed Mr. Peter Imona as the Head, Enterprise Risk Management. Peter is a consummate risk management professional with experience spanning over 1 8 years. He studied Economics at the University of Ibadan, and is on Associate of the Institute of […]
The Central Bank said it has renamed Skye Bank to Polaris Bank which signals its take over by the apex bank. The Central Bank has as a result of this revoked the license of Skye Bank. The apex bank said it has injected about N786 billion into the bank to recapitalise […]
Nigeria’s Central Bank said it has revoked the banking license of Skye Bank, a tier 2 lender in Nigeria. The decision was announced by Umar Ibrahim, chairman of the Nigeria Deposit Insurance Corporation (NDIC), the government agency that insures funds in deposit money banks, made this known to journalists in […]
MTN Group Limited, Africa’s largest mobile carrier has received some respite on the standoff with Nigeria’s central bank over alleged $8.1 billion illegal repatriation. The CBN said it is reviewing documents submitted by MTN Nigeria and that its sanctions was not aimed at scaring foreign investors. It would be recalled […]
South Africa’s Naspers Limited, the country’s most valuable company, said its plan to exit Multichoice was part of its refocusing strategy. With its freedom, there are indications that Multichoice will be betting big on Internet video streaming. It would be recalled that Naspers had announced earlier this week that it […]