Business

  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. ...

  Moderna, a US pharmaceutical company, has halted plans to build a vaccine manufacturing facility in Kenya due to over $1 billion in losses from decreased demand for COVID-19 vaccines in Africa.   The decision comes after facing over $1 ...

A former interpreter for Japanese baseball star Shohei Ohtani faces bank fraud charges for allegedly stealing $16 million from Ohtani’s account to cover gambling debts.   Ippei Mizuhara is accused of sending the money to illegal sports betting without Ohtani’s ...

The National Agency for Food and Drugs Administration and Control has recalled Benylin Paediatrics Syrup manufactured by Johnson & Johnson, following recent toxicity findings in the laboratory on the product NAFDAC said laboratory analysis conducted on the product showed that ...

The Minister of Power, Adebayo Adelabu, has apologised to Nigerians for saying that they keep freezers on for days due to low electricity tariff. “Anything we have said that are considered offensive, we are sorry about that,” Adelabu said with ...

Myanmar, once a beacon of hope in Southeast Asia with a growing middle class, now faces a dire situation as civil war drives millions into poverty, according to the United Nations. Nearly half of Myanmar’s 54 million people live below ...

Nicki Minaj has teamed up with UK-based brand LØCI to launch her line of custom sneakers, following the conclusion of her record-breaking tour. The Pink Friday footwear features a pink low-top design with red shoestrings and a portrait of Nicki ...

Elon Musk has announced he’ll be visiting India to meet Prime Minister Narendra Modi, though the date hasn’t been specified yet. The Tesla CEO is expected to unveil significant investment plans for the country soon.   India recently slashed import ...

Instagram, owned by Meta, is taking steps to shield users from unsolicited nude photos. The app will now automatically blur such images in direct messages (DMs), using AI to identify and obscure genitals. This feature aims to combat “intimate image ...

Truong My Lan, a prominent property developer, was sentenced to death for siphoning $44 billion from Saigon Commercial Bank over 11 years. She faced a historic trial in Vietnam for orchestrating one of the world’s largest bank frauds. Authorities revealed ...

Five Australian women who underwent strip searches and invasive exams at Doha airport in 2020 have lost their case against Qatar Airways.   They sought damages for mental health impacts after being checked for childbirth following the discovery of an ...