Anambra State sees return to normalcy, but N4.2trn economy still harried
BEN EGUZOZIEOctober 27, 2020
Ben Eguzozie Anambra State government announced that ‘life has returned to normal’ in the state after the mayhem of last week which saw gangs attack law enforcement agents, burn down police stations, vandalize public buildings, extort monies from law-abiding citizens and make life generally difficult for the people. This followed from weeks of #EndSARS protests […]
Looting, Vandalism: LSETF partners with private sector to get Lagos-based businesses back on their feet
Saviour AdugbaOctober 27, 2020
Saviour Adugba The Lagos State Employment Trust Fund (LSTEF) is partnering with private sector players to help looted businesses and businesses with vandalised properties get back on their feet in the wake of the vandalism and lootings that businesses in the state have experienced in the past few days after protests about police brutality turned […]
CACOVID calls for end to palliatives looting across Nigeria
Businessam StaffOctober 27, 2020
Says state governors did not hoard palliatives Nigerian Governors Forum denies that governors hoarded palliatives The Private Sector-led Coalition Against COVID-19 (CACOVID) has called for an end to the looting of COVID-19 palliatives donated by the coalition across the country, stating that it is “deeply concerned by the recent events.” The coalition said this in […]
NigeriaSugar importation rises despite government’s self-sufficiency goal
Onome AmugeOctober 26, 2020
Onome Amuge The demand for sugar in the Nigerian domestic market has recorded a surge and is currently the country’s third biggest import, only surpassed by wheat and petroleum products. The Nigerian Ports Authority in its latest importation report stated that the country has imported 239,750 metric tonnes of sugar in the months of September […]
Airtel Africa unfolds gains amid Covid-19 as H1’20 revenues up 10.7% to $1.82bn
Charles AbuedeOctober 26, 2020
Charles Abuede Operating profit increased by 19.5% to $472m Free cash flow was $391m Interim dividend of $1.5 cents per share Africa’s telecommunications giant, Airtel Africa has reported a 10.7 per cent growth in its revenue for the half-year ended 30 September 2020 to $1,815 million from $1,640 million generated during the corresponding period of […]
Former MTN Nigeria CTO, Toriola, appointed CEO designate
Businessam StaffOctober 26, 2020
Karl Toriola, who once served as chief technical officer (CTO) of the Nigerian subsidiary of Africa’s telecom giant, MTN Group, has been appointed chief executive officer (CEO) designate of MTN Nigeria Communications Limited to replace Ferdinand Moolman who has served in the position since 2016. Toriola will be returning to Nigeria from the group where […]
United Capital sees 26% rise in PAT to N3.46bn amid challenging global economic climate
Charles AbuedeOctober 22, 2020
Charles Abuede United Capital Plc, a Pan-African financial and investment services group, has reported a 26 per cent year on year increase in profit after tax (PAT) in the third quarter of 2020 at N3.46 billion. Last year it had posted N2.75 billion for the corresponding period. The investment services group, in its unaudited financial […]
Africa Prudential reports 6% drop in Q3 ’20 PAT
Charles AbuedeOctober 22, 2020
Charles Abuede Africa Prudential Plc, a leading registrar, investor services and business support solutions provider, said it recorded a six per cent marginal decline in its profit after tax (PAT) at N1.41 billion for the period ended 30 September, 2020, as against N1.50 billion recorded in the same period last year. It also reported 11 […]
CBN issues guidelines for financing mass metering for local manufacturers, DisCos
Charles AbuedeOctober 20, 2020
Charles Abuede Scheme aimed at closing metering gap in electricity supply industry To enhance efficiency of revenue collection by DisCos The Central Bank of Nigeria (CBN) has outlined the operational modalities for the financing of the National Mass Metering Programme (NMMP) and provide support to power distribution companies (Downstream) and local meter manufacturers (Upstream) in […]
NNPC says reports it bribed NANS, funded vote-buying in Ondo false
BEN EGUZOZIEOctober 16, 2020
Ben Eguzozie, in Port Harcourt State-owned oil company, Nigerian National Petroleum Corporation (NNPC), says reports that it bribed the National Association of Nigerian Students (NANS) and funded the All Progressives Congress (APC) to buy votes in the September 2020 Ondo State gubernatorial elections are false. It said a section of the media (not including Business […]