One of Nigeria’s commercial bank, Zenith Bank has confirmed that it will commit about NGN24.6 million to NBBF Women’s Basketball League for the 2018 season. The announcement was disclosed during a media parley in Lagos with members of the Zenith Bank representative and the Nigeria Basketball Federation. Peter Amangbo, Group […]
The world’s second largest brewer, Heineken NV, said its beer sales volume in Nigeria has continued to fall below estimates. Operating as Nigeria Breweries Plc, Heineken operates the largest brewing operation in Africa’s largest economy where it now faces stiff competition from AB inBev’s Interfact Breweries and Diageo’s Guinness Nigeria […]
South Africa’s MTN Group Limited said it is still in talks with the Central Bank of Nigeria, CBN, to negotiate the $8.1 billion fine imposed by the apex bank. It would be recalled that the apex bank had imposed the fine on MTN for illegally transferring funds out of its […]
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 […]