Big Business

S&P downgrades Diamond Bank to CCC+/C’
Big Business

S&P downgrades Diamond Bank to CCC+/C’

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 […]

SEC nullifies NEM insurance AGM
Big Business

SEC nullifies NEM insurance AGM

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 […]

Renmoney appoints Tobi Boshoro as CEO
Big Business

Renmoney appoints Tobi Boshoro as CEO

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 appoints Jason Yetton as CEO
Big Business

Commonwealth Bank appoints Jason Yetton as CEO

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 […]

Heineken sales flops further in Nigeria
Big Business

Heineken sales flops further in Nigeria

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 […]

Seplat disowns chairman’s lawsuit
Big Business

Seplat disowns chairman’s lawsuit

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 […]