Business

  Nigerian Breweries aims to acquire an 80 per cent stake in Distell Wines & Spirits Nigeria Limited by the end of the first half of the year. The Managing Director/Chief Executive Officer of NB Plc, Hans Essaadi, revealed this ...

  First Bank of Nigeria Limited has appointed Olusegun Alebiosu as its acting Managing Director with effect from April 2024. The bank stated this in a statement signed and made available to PUNCH Online by its acting company secretary, Adewale ...

  The naira depreciated in its value against the United States dollar to N1,234 at the official foreign exchange market on Monday, according to data obtained from the FMDQ securities exchange. The exchange rate means the naira fell by N65 ...

The Kenya Police Service has arrested fleeing Binance executive, Nadeem Anjarwalla, as the International Criminal Police Organisation moves to extradite him to Nigeria within the week. Government sources familiar with the case who spoke on condition of anonymity because they were ...

Netflix reported a big profit increase this year, partly because of cracking down on password sharing. They gained 9.3 million new subscribers, reaching almost 270 million in total. Their profits rose to over $2.3 billion in the first quarter. Revenue ...

  Ecobank Nigeria Limited, a subsidiary of the Ecobank Group, has entered a strategic partnership with Nigeria Chess Federation (NCF) to host the 2024 National Schools’ Team Chess Competition. The competition is scheduled to hold between 24th – 28th May ...

  -Declares a final dividend of 60kobo per share   Lagos, Nigeria, April 16, 2024: Leading financial institution, Fidelity Bank Plc, has released its 2023 full year Audited Financial Statements, reporting a 131.5% growth in Profit Before Tax to N ...

  Meghan Markle has started her new business venture, American Riviera Orchard, by sending out jars of strawberry jam to 50 influencers. Among them are fashion designer Tracy Robbins and Argentine socialite Delfina Balquier, who shared pictures of the jam ...

Tesla is planning to cut over 10% of its global workforce of 140,000 employees. CEO Elon Musk mentioned in an email to staff that these cuts are necessary for cost reductions and increasing productivity. Musk clarified that this reorganization is ...

Ex-Governor of Kaduna State, Malam Nasir El-Rufai, says fuel subsidy is back, but Nigerians are not aware. Fielding question from newsmen in Maiduguri , Borno State capital, on Monday, El-Rufai said the federal government is now paying more than before. ...

  Nestled in the heart of Ogun State, Sagamu stands as a beacon of economic potential in Nigeria. Its strategic location along major transportation routes, including the bustling Lagos-Ibadan Expressway and the proposed Lagos-Ibadan railway, positions it as a prime ...

  Zenith Bank Plc has announced its audited results for the year ended December 31, 2023, achieving a remarkable triple-digit growth of 125 per cent in gross earnings from NGN945.6 billion reported in 2022 to NGN2.132 trillion in 2023. According ...

The Enugu Electricity Distribution Company Plc, EEDC, on Monday alerted its customers of a total system collapse, causing blackout in the entire Southeast EEDC announces total system collapse EEDC in a statement issued by its Head of Corporate Communications, Emeka Eze, said ...

  Airports in Tehran and elsewhere in Iran resumed operations Monday, state media said, after a temporary suspension due to an aerial attack on arch for Israel that heightened regional tensions.   Flights were suspended after Iran launched late Saturday ...

  United Bank for Africa Plc has expressed confidence in its ability to meet the new capital base specified by the Central Bank of Nigeria. In a statement issued on Sunday, UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, disclosed ...

  The Federal Government has appealed to members of the National Union of Electricity Employees not to down tools over the recent electricity tariff hike. This is as the union insisted that they would withdraw their services should the government ...

  Rand Merchant Bank played a key role in the $1.25bn financing package for Indorama Eleme Fertilizer & Chemicals Limited as it acted as a lead arranger alongside the International Financial Council, which was the mandated lead arranger. A statement ...

  Telecom operator, Globacom, has launched two more enterprise business products, Glo Fibre to the Home and Fibre to the Business, with unmatched data speed and service experience. Glo Fibre to the Home and Fibre to the Business are Internet ...

  First City Monument Bank has reaffirmed its commitment to sustainable manufacturing by financing the newly inaugurated dried fruit manufacturing plant of Nature’s Bounty Health Products Limited in Abeokuta, Ogun State. A statement from the firm, which trades as ReelFruit, ...

  Guaranty Trust Holding Company Plc has announced a N609.3bn profit before tax for the 2023 financial year. According to its audited consolidated and separate financial statements filed with the Nigerian Exchange Group and London Stock Exchange on Monday, PBT ...

  Wema Bank Plc saw its deposits grow by 59.65 per cent to N1.86tn in 2023 from N1.16tn in the previous year. According to the lender’s full-year 2023 audited financial statement filed with the Nigerian Exchange Limited, its profit before ...

  FBN Holdings has disclosed that it will be seeking shareholders’ approval to raise N300bn additional capital. In a notice of its extraordinary general meeting filed with the Nigerian Exchange Limited on Monday, the financial holding company said the meeting ...

  The shareholders of Zenith Bank would get about N109.88bn as dividends for the 2023 financial year. This was disclosed in the annual report, which was filed with the Nigerian Exchange Limited on Monday. Announcing the dividends, the bank, which ...

  The family of the late Group Chairman of the Nigerian Exchange Group Plc, Abimbola Ogunbanjo, has filed a suit against Orbic Air LLC helicopter, the charter company operating the flight which killed him. According to a report by the ...

  Zenith Bank Plc has revealed that it is taking urgent steps to meet the new N500bn capitalisation requirement of the Central Bank of Nigeria. The lender disclosed this in a statement accompanying its newly released annual report for 2023. ...