Posted in NAIJA BIZ

Oando Plc cuts debt by over 70% in four years

Integrated energy solutions provider, Oando Plc has cut down its debt by over 70% in four years. The company disclosed this following the release of its…

Continue Reading...
Posted in NAIJA BIZ

Nigeria missing from Amazon VS Microsoft cloud battle

The race to dominate the cloud space may have been turned up a notch as Standard Bank Group has selected Amazon Web Service (AWS) as…

Continue Reading...
Posted in NAIJA BIZ

OPEC may soon crack, as Oil price sets for biggest quarterly rise

The Organisation of Petroleum Exporting Countries (OPEC) has once again shrugged off President Donald Trump’s continued Twitter rants against the organisation’s crude output cuts. Last…

Continue Reading...
Posted in NAIJA BIZ

GidiTraffic has launched a ride sharing app called “GidiCab”

Owners of Nigeria’s social media twitter handle, GidiTraffic, has announced the introduction of a ride-sharing application known as GidiCab. The newly-launched transportation business, GidiCab will be competing with the…

Continue Reading...
Posted in NAIJA BIZ

Escape founder accuses celebrities of causing club to incur N120m debt

Two months after shutting down Escape Nightclub, Richard Nnadi, the Founder and Managing Director of the Nigerian leisure spot, has finally disclosed the reason for making…

Continue Reading...
Posted in NAIJA BIZ

FCMB sustains performance with N177.4bn revenue, achieves 73% profit increase

FCMB Group Plc has released its financial results for the year ended December 31, 2018, reporting a gross revenue of N177.4 billion, an increase of…

Continue Reading...
Posted in NAIJA BIZ

Travelex partners ABCON in bid to actualise $20bn diaspora remittances

Travel Money and Currency Exchange Services (Travelex) is undertaking a partnership process with the Association of Bureaux De Change Operators of Nigeria (ABCON). The strategic…

Continue Reading...
Posted in NAIJA BIZ

FIRS’ bank initiative discovers 55,000 tax defaulters

Thousands of Nigerians have been identified as tax defaulters by the Federal Inland Revenue Service (FIRS) through the bank accounts substitution initiative embarked upon by the agency earlier this…

Continue Reading...
Posted in NAIJA BIZ

Transcorp Group unveils strategy to drive 2019 projections

Transcorp targets Cost Management Initiatives to drive hospitality business, Others. Transcorp Power positions to maintain power generation lead in Nigeria by increasing its generation capacity….

Continue Reading...
Posted in NAIJA BIZ

MTN launches the first ever Whatsapp airtime top-up option

Multinational telecommunication company, MTN, just improved its customer experience with the launch of its Whatsapp chatbot which will enable users to easily top up their…

Continue Reading...
Posted in NAIJA BIZ

CCNN full year revenue jumps by 62% in FY 2018

Cement Company of Northern Nigeria has released its full-year results for the 2018 financial year. Here are the highlights of the results Revenue Revenue rose…

Continue Reading...
Posted in NAIJA BIZ

Warner Music Group partners Chocolate City Entertainment

World’s third biggest music record label, Warner Music Group, has gone into partnership with  Chocolate City Entertainment, one the leading record labels in Nigeria, The partnership is aimed at growing…

Continue Reading...
Posted in NAIJA BIZ

Sterling Bank gross earnings hits N152 billion in FY 2018

Sterling Bank has released its audited full-year 2018 results. Here are highlights of the resultsGross EarningsGross earnings increased from N133 billion in 2017 to N152…

Continue Reading...
Posted in NAIJA BIZ

FG reduces borrowings again, denies crowding out private sector

The Federal Government plans to borrow N1.6 trillion from both international and local sources to finance the 2019 budget. The Director-General of the Debt Management Office(DMO),…

Continue Reading...
Posted in NAIJA BIZ

Naira under pressure as forex demand increases

The strong demand for the dollar persisted in the I & E window during yesterday’s tradingsession. 98% of the trades settled between N360-N362 per dollar,…

Continue Reading...
Posted in NAIJA BIZ

FCMB Group Gross Earnings hits N177 billion in FY 2018

FCMB Group Plc yesterday released its full-year 2018 results after trading hours. Here are highlights of the results. Gross Earnings Gross Earnings increased from N169…

Continue Reading...
Posted in NAIJA BIZ

Nigeria’s e-payment transactions fall by N29billion as transactions failure deepens

Transactions failure on e-payment platforms in Nigeria are increasingly becoming a concern to millions of users. Note that some of the e-payment channels in the…

Continue Reading...
Posted in NAIJA BIZ

Buhari launches Micro Pension Plan, assures Pensioners of regular payments

President Muhammadu Buhari officially launched the Micro Pension Plan today, at the Presidential Villa in Abuja. During the launching, the President assured pensioners of his administration’s renewed commitment to…

Continue Reading...
Posted in NAIJA BIZ

Ecobank gross revenue hits N773 billion in FY 2018

Ecobank Trans International (commonly known as Ecobank) has released its audited results for the 2018 financial year. Here are key highlights from the results. Gross…

Continue Reading...
Posted in NAIJA BIZ

Reactions trail Minister’s claim that Nigerians now import Pizza from London

Nigeria’s Minister of Agriculture, Mr Audu Ogbeh, made a shocking revelation, yesterday, when he told the Senate Committee on Agriculture that some Nigerians now order…

Continue Reading...