South Africa’s MTN Group Limited said it is looking at getting a banking license to further cement its operations in Africa’s largest economy. MTN is Nigeria’s largest mobile carrier. However, the company has drawn the hire of regulators in Nigeria for various infractions and regulatory offences. The chief executive officer […]
Teleology Holdings has now signaled its takeover of 9mobile with the appointment of Stephane Beuvelet as the acting managing director for the mobile carrier. Formerly known as Etisalat, 9mobile is Nigeria’s smallest and fourth largest mobile carrier with about 19 million subscribers. Teleology said in an emailed statement that the appointment of […]
Nigeria’s second-tier lender, Diamond Bank has denied reports that it is in talks with Access Bank in a bid to sell itself to the latter. There were unconfirmed reports that Access Bank was in talks to acquire the midsized lender after it could not raise funds to shore up its […]
There are unconfirmed reported that Access Bank, a tier lender in Nigeria might be looking at acquiring Diamond Bank, its midsized competitor. PageOne.ng’s Big Business team cannot confirm nor deny the reports. Neither Access Bank nor Diamond Bank has commented on the matter. However, there are concerns over the inability […]
Coca-Cola HBC AG, bottler for The CocaCola Company in sub-Saharan Africa and Europe said its volumes in Nigeria saw some significant growth in the third quarter of 2018. The company said in its latest trading update that emerging markets volumes increased by 4.1%, with good contributions from all markets including […]
Global credit rating agency, S&P Global Ratings said it has lowered its long- and short-term issuer credit ratings on Nigeria-based Diamond Bank Plc. to ‘CCC+/C’ from ‘B-/B’. S&P said it also gave a negative outlook to the bank’s credit rating. In addition, the rating agency said it also lowered its […]
Following its hurried exit from Nigeria, more reactions have followed HSBC and UBS’ decision to leave Nigeria. It would be recalled that the Swiss National Bank (Central Bank equivalent) said in its regulatory update that HSBC and UBS have exited their Nigerian operations as foreign direct investment continues to slump […]
Nigeria’s Security Exchange Commission, SEC, has now been reported to have invalidated the 48th annual general meeting of NEM Insurance. The insurance company held its AGM in June. Sources privy to the SEC directive said all the resolutions reached the meeting were declared null and void. The insurance was also […]
Nigeria’s unsecured lender, Renmoney, has announced the appointment of Tobi Boshoro as its new chief executive officer. Renmoney said in an official statement that Tobi is armed with a wealth of experience in business strategy, marketing and business development in the fintech sector. Below is her profile: Tobi holds a […]
Commonwealth Bank of Australia said through a global and local search, Jason Yetton will be appointed Chief Executive Officer and Andrew Morgan will be appointed Chief Financial Officer of CBA’s wealth management and mortgage broking businesses. These appointments follow CBA’s commitment in June 2018 to the demerger of NewCo, which […]