In the most challenging year for Nigerian companies, Conoil PLC, a downstream oil major has posted a net profit of NGN2.8 billion for the financial year. In comparison to its 2015 result, the result shows a 23% year on year growth in profitability, a positive result given the worst recession […]
After its acquisition of 60% stake of ExxonMobil’s shares in Mobil Oil Nigeria, Nipco Investment said it is offering to up its stake in Mobil Oil to 70%. As part of the share acquisition, Mobil Oil’s minority shareholders are offered NGN417.12 per share for the 3.23% of the capital, or […]
Bolloré Logistics has been handed a two year contract to officially manage Unilever warehouse. The logistics company confirmed in a report that it has been managing the warehouse on behalf of the fast moving consumer goods selling outfit. Since September 2016 Since September 2016, Bolloré Logistics Nigeria handles a warehouse […]
Sub-Saharan African-focused financial services major, Atlas Mara Limited has increased its stake in Union Bank of Nigeria through an equity acquisition. The stake was increased through the acquisition of an indirect 13.4% shareholding in UBN from the Clermont Group for a total consideration of USD55 million. The transaction is subject […]
Forte Oil, an indigenous downstream oil major said it will raise 20 billion via a share sale to institutional and high net worth investors. The total sum is approximately USD66 million using real time Forex exchange conversion. Forte said it will carry out the sale via a public offer for […]
The African Development Bank has appointed Vanessa Moungar as Director of Gender, Women and Civil Society with effect from 1st of July 2017. A citizen of Chad and France, Moungar brings along diverse experience from the public and private sectors, as well as an extensive global network. She has a […]
A consortium of Nigerian and international banks have finally taken over Etisalat Nigeria, registered as Emerging Markets Telecommunications Limited. The consortium has appointed United Capital Limited, an asset management company as the consultant. Etisalat UAE, a co-investor with Mubadala Development Company PSJC said it has instructed Etisalat Nigeria to transfer […]
Julius Berger Nigeria PLC, said it has entered into an oil joint venture with Petralon Energy. Julius Berger is the country’s largest civil construction company. The joint venture will see both companies acquire and develop oil fields in Nigeria’s oil-rich region. The company said the JV is part of its […]
Jabu Moleketi has been appointed as Non-Executive Chairman and Saki Macozoma as a lead Independent Director of Vodacom group effective from 19 July 2017. Jabu Moleketi will succeed Peter Moyo (54), who will have served as Chairman for eight years when he retires and steps down from the Vodacom Board […]
Mrs. Viola Graham-Douglas has been appointed as Corporate Relations Director of Guinness Nigeria Plc, effective from June 1, 2017. Mrs. Graham-Douglas started her career in the banking industry in Nigeria and worked in varied roles with reputable banks. Starting off in the Treasury Department of Diamond Bank and thereafter moved […]