AEDC to meter over 200,000 of its customers as part of its mass metering scheme
Bukola Odufade
August 7, 2018
Abuja Electricity Distribution Company has said it will flag off the installation of 222,728 meters valued at about N10 billion for its customers under the second phase of its mass metering programme. AEDC had in the first phase installed about 150,000 meters for its customers across the Federal Capital Territory (FCT), Kogi, Nasarawa and Niger […]
Nigeria’s Stanbic IBTC wins big at Euromoney Awards
Businessam StaffAugust 1, 2018
Stanbic IBTC Capital Limited, a member of Stanbic IBTC Holdings Plc., has emerged the best investment banking institution in Nigeria at the Euromoney Awards for Excellence 2018 held in London recently. Standard Bank, to which the Stanbic IBTC belongs, was also voted Africa’s best bank for wealth management. The award ceremony had almost 700 leading […]
C&I Leasing reports 18% growth in half-year profit after tax
Adesola AfolabiJuly 31, 2018
C&I Leasing announced on Tuesday that it grew half year profit after tax in 2018 by 18 percent to N682.2 million. It was up from N580 million recorded for the same period in 2017. The company grew gross earnings by 10.7 percent to N12.8 billion with total assets for improving by 13.9 percent to N51.2 […]
Fire outbreak: Ecobank MD, Kie commends fire service
Adesola AfolabiJuly 31, 2018
Charles Kie, the managing director of Ecobank Nigeria has commended the responsiveness of Lagos State fire service, Lagos State Emergency Management Agency (LASEMA) response unit and the federal fire service for promptly putting out a fire outbreak at the bank’s Lagos head office. “We commend the fire service personnel for their diligence, expertise and bravery […]
Sheraton Lagos celebrates Cheesecake day 2018
Businessam StaffJuly 31, 2018
Sheraton Lagos Hotel has announced another foodie initiative, the National Cheesecake Day, which would be celebrated on July 30, 2018. According to a statement from the hotel, the delectable dessert, which can be prepared as baked or non-baked, will be celebrated with two of their favorite recipe offerings. “Our pastry department has created some new […]
GE Nigeria graduates 26 young Nigerian entrepreneurs
Afolabi OluwaseunJuly 31, 2018
As part of its contribution to skills development in Nigeria, General Electric (GE), the world’s premier digital industrial company, recently concluded its four-week GE Lagos Garage programme, a unique advanced manufacturing-based training programme that has helped in the empowerment of countless number of people worldwide. The training program was conducted by GE in-house instructors, and […]
Supreme Court dismisses Ecobank’s appeals against Honeywell over N3.5bn debt
Adesola AfolabiJuly 31, 2018
The N3.5 billion debt dispute between Honeywell and Ecobank took a new turn recently when the Supreme Court dismissed all three appeals filed by Ecobank against Honeywell for lack of merit. In a unanimous decision by the judges of the apex court, the court ruled that Ecobank’s appeals were frivolous. The court of appeal on […]
GTBank unveils digital payment solution for international passports
Adesola AfolabiJuly 31, 2018
GTBank has partnered with New Works Limited and the Nigeria Immigration Service (NIS) to deliver a digitalised end-to-end process for Nigerians to apply for their international passports online and also make payments at the official rates online. This multi-channel payment system will enable Nigerians to apply for all international passport types (new and renewals) online […]
Nigerian Breweries sees half year revenues drop 5%, signposting what’s ahead on likely impact of new excise duty regime
Adesola AfolabiJuly 30, 2018
Local brewing giant, Nigerian Breweries, has given the first hint yet of the possible impact on the performance of companies falling under new excise duty regime and higher rate for alcoholic beverages in the second half of the year as the company’s half year unaudited results just released showed a five percent drop in revenues. […]
Nigera’s hospitality firm, Transcorp Hotels, grows first half post tax profit by 83% to N1.38bn
Adesola AfolabiJuly 30, 2018
Nigeria’s hospitality firm, Transcorp Hotels, recorded a jump in profit after tax of 83 percent to N1.38 billion in the first half of 2018, the company’s unaudited financial statements for the period just released has shown. The growth represents a year-on-year growth over the N760 million recorded in the first half of 2017. The results […]