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NSE’s statement in reaction to the Visionscape Municipality Bond Default

The Nigerian Stock Exchange, yesterday, reacted to media publications about Visionscap’s alleged default on  the coupon payment of a N4.85 billion bond that was due…

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Access Bank Plc secures $162.5m loan from Europe

Access Bank Plc has obtained a syndicated credit facility worth $162.5 million, from the European Investment Bank. The loan was put together by a group of…

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Posted in NAIJA BIZ

Lafarge Africa raises fresh capital to tackle rough patch

Lafarge Africa Plc said it has raised fresh capital from its existing shareholders through a rights issue that was 100 per cent subscribed. In a press…

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Posted in NAIJA BIZ

Access Bank reacts to fraud charges against its CEO, others

The management of Access Bank Plc, yesterday, reacted to a recent publication about its CEO, Mr Herbert Wigwe, and three others being dragged before an Ogun State…

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Intel adopts Konga into its Partner Accelerator Programme

Nigeria’s foremost e-commerce powerhouse, Konga, has become the first e-commerce company in Sub-Saharan Africa to be migrated to the Retail Accelerator Programme of global technology giant —Intel. The development…

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KPMG raises concerns about going status of Federal Palace’s parent firm

Tourist Company of Nigeria’s going status may be in concern going by a notice to the company sent to the Nigerian Stock Exchange today. The firm stated…

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NOVA Merchant Bank Limited declares N1.15bn in PAT, continues to focus on growth

NOVA Merchant Bank Limited has declared a profit after tax of N1.15 billion for the year ended 31st of December 2018. This is an increase…

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Economy drags lending power of some FUGAZ banks down

The growth rate of the Nigerian economy might be dragging the lending power of some of Nigeria’s biggest banks down. Available record has shown how the…

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SUNU aims for top 10 position in insurance industry

Sunu Assurances Nigeria Plc has disclosed that it will explore other opportunities in the industry, as part of its effort to become one of the top…

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INSIGHT: A look at Stanbic IBTC’s new savings product

Stanbic IBTC Bank has introduced a new savings account that will enable Nigerians to achieve their savings and investment objectives. The Max Yield Savings Account (MYSA) is a…

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NSE, Meristem Collaborate on New Indices Focused On Investment Style Orientation

New indices focused on growth and value investment strategies  Offers investors’ opportunity to make investments in products that truly match their investment styles and objectives.   Index calculated and maintained by The Nigerian Stock…

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GTBank, Zenith rake in over N30 billion from Electronic Business fees

Two of Nigeria’s biggest banks, Zenith Bank and GTBank, reported record-high profits of N193 billion and N184.6 billion (respectively) for the fiscal year ended December…

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As another Boeing 737 Max 8 crashes, should Air Peace be worried?

Earlier today, an Ethiopian Airlines flight 302 carrying 149 passengers and eight crew members, crashed merely minutes after takeoff from the Bole International Airport. The plane…

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EFCC has begun the use of drones

On Saturday, March 9th, 2019, during the Gubernatorial and State houses of Assembly elections, the Economic and Financial Crimes Commission (EFCC) tweeted a picture of…

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Coronation Merchant Bank posts N5.3 billion profit before tax in FY 2018

Coronation Merchant Bank Limited (‘CORONATION MB);Africa’s leading financial institution, has released its 2018 Full Year Results to stakeholders in which the Bank posted a Profit Before Tax of…

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Visionscape Municipality Bond Default Explained

Last week, reports confirmed that Municipality Waste Management Contractors Limited, a private company promoted by Visionscape Sanitation Solutions Limited, may have defaulted on a N4.5 billion…

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Dangote tomato factory reopens amid fall in local demand

Operation has re-commenced at Dangote Tomato Factory, two years after the Kadawa-based factory was shut down due to declining market demand resulting mainly from dealers’ dependence…

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African Alliance rebrands with a new strategy that targets the youths

African Alliance Insurance Plc is transforming itself for the better. The company, which was incorporated in 1960, said it is embracing new strategies of doing…

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Posted in NAIJA BIZ

Onefi obtains $5 million loan from Lendable

OneFi a Nigerian startup has obtained a $5 million from Lendable, a Kenyan based firm. Proceeds of the loan will be used to deploy more loans through…

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Oil companies contribute $117 million towards Ogoni cleanup

Estimations show that so far, out of the $200 million expected from International Oil Companies (IOCs), about N42.1 billion ($117 million) has been deposited into…

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