Nigeria’s paint manufacturer, Meyer Plc said Mr. Adeola Omosebi has resigned his appointment as the managing director of the company. Meyer Plc said in a statement that Adeola Omosebi resigned from the Board of Directors of Meyer Plc and the resignation has been accepted by the Board with effect from […]
The Coca-Cola Company today said it has reached a definitive agreement to acquire Costa Limited from Whitbread PLC in a deal worth about GBP3.9 billion. Whitbread will be seeking shareholder approval for the transaction, which is expected to take place by mid-October. The deal is subject to customary closing conditions, […]
South Africa’s MTN Group said its local unit in Ghana, MTN Ghana, was only abkle to raise $238.5 million through an initial public offering, IPO. While the IPO missed the target set by Affrica’s largest mobile carrier, it is still the largest of its kind in the West African country […]
In response to the regulatory fines imposed on the bank by the Central Bank of Nigeria, Stanbic IBTC, a mid-sized lender in Nigeria might not contest the fines. It would be recalled that the CBN had fined Stanbic a total sum of N1.885 billion on the allegations of its involvement […]
Nigeria’s Central Bank said it has placed various fines and sanctions on four banks for illegally repatriation funds to South Africa on behalf of MTN Nigeria, the home country of MTN Group Limited. MTN Nigeria is a wholly-owned subsidiary of South Africa’s MTN Group which has been mulling a public […]
Siemens said a report by monthly Manager Magazin that it could cut 20,000 jobs as part of its Vision 2020+ strategy was untrue. The group said in a statement that it did not at any point in time make such statement. “We do not follow the reasoning behind the figures […]
Ecobank Transnational Incorporated said it has appointed Paul-Harry Aithnard as the Managing Director of its affiliate Ecobank Côte d’Ivoire and Regional Executive, UEMOA, designate. The bank said in a statement that Paul-Harry Aithnard was Group Head, Securities, Wealth & Asset Management. This appointment was effected following an internal recruitment process […]
CWG plc said it has appointed Mr. Wale Agbeyangi to the Board of the company as a Non-Executive Director on 19th October 2017. Wale holds an MBA from Business School Netherlands, attended the University of Lagos and was enrolled at the Nigerian Law School for his certification as a Solicitor […]
Nigeria’s First City Monument Bank Limited said it has confirmed that there were attempted fraudulent card transactions on a few customers’ accounts. The bank did not state the number of cards affected nor the amounts involved. FCMB is a second tier lender with commercial and retail banking operations in Nigeria. […]
The local unit of MTN Group Limited, MTN Nigeria said it has borrowed about $636 million from local banks to finance its network expansion. MTN is the largest mobile carrier in Nigeria with over 50 million subscribers. The loan is an equivalent of N200 billion in local currency using the […]