There are latest indications that Nigeria’s attorney general, Mr. Abubakar Malami, must have okayed MTN Nigeria’s deal in the $8.2 billion illegal transfer sanction. Earlier, today, media reports suggested that MTN Nigeria has now opted to settle out of court with the Central Bank of Nigeria. It would be recalled […]
There are indications that the Nigerian unit of MTN Group, MTN Nigeria, has now opted to settle out of court with the Central Bank of Nigeria. It would be recalled that MTN Nigeria was accused by the Central Bank of Nigeria, CBN, of allegedly transferring about $8.1 billion out of […]
Nigeria’s Economic and Financial Commission, EFCC, has again arrested and detained Mr. Tunde Ayeni, the former chairman of the defunct Skye Bank Plc. Nigeria’s Punch Newspaper reported that Tunde Ayeni was picked up by the anti-graft agencies for alleged corrupt practices involving billions of naira. The spokesman for the EFCC, […]
India’s Bharti Airtel Nigeria, the local unit of the company in Africa’s largest economy has now applied for a banking license. The license is called a payment service bank (PSB). The decision is following MTN Nigeria’s application for the same type of banking license that would see the two largest […]
One of Nigeria’s tier two lender, Diamond Bank, has secured a national banking license from the Central Bank of Nigeria, CBN. This means Diamond Bank has downgraded its operation from an international bank to a national bank. Diamond Bank has been in the eyes of the storm after its capital […]
Nigeria’s Continental Reinsurance Plc or CRe Nigeria said it has received an offer from CRe African Investments Limited, to acquire all the outstanding and issued shares of CRe Nigeria. The company said in a statement that CRe Investments is making this offer in order to initiate a much-needed restructuring exercise […]
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 […]