Stanbic IBTC introduces high interest yielding savings product

Stanbic IBTC Bank, a member of Stanbic IBTC Holdings PLC, has launched Max Yield Savings Account (MYSA) in a bid to reward customers with better returns on their savings The bank, in a statement over the weekend, said that MYSA is a high interest paying account that offers interest at fixed deposit rate (currently up […]

McDonald’s ends Olympics sponsorship deal after 41 years

McDonald’s deal would have run through the Tokyo Olympics in 2020, and bowing out will likely to save it hundreds of million of dollars if it had continued into the next four-year Olympics cycle and beyond. McDonald’s has been trying to hold down costs as it invests in improving food quality, restaurant service and online […]

Berger Paint explains gratuity, pension policy to NSE over staff demonstration

Fired up by a near shutdown following staff dispute over gratuity and pension issues, Berger Paints Plc has assured stakeholders and the Nigerian Stock Exchange (NSE) in particular that the peaceful demonstration by some sections of its staff on deadline for the end of gratuity payments would not have adverse effects on the company’s business […]

Rolls-Royce sees demand for a new mid-market jet

Engine maker Rolls-Royce (RR.L) believes there is a market for a new mid-priced jet such as the one Boeing (BA.N) is currently exploring and would consider working with Boeing on it, an executive said on Friday. Boeing is studying a gap in the market between narrow-body jets and long-haul aircraft for a potential new airplane […]

Nigeria’s newest airline prepares for take off as storm clouds gather

Nigeria’s aviation industry has suffered a prolonged spell of violent turbulence. The nation’s leading carrier was recently taken over by the government to prevent it collapsing. A crumbling runway closed the capital’s international airport for six weeks. The whole sector has been battered by Nigeria’s recession that has driven up costs and made foreign currency […]

FBN Holding cleans books to achieve single digit non-performing loan portfolio

FBN Holdings has said it is cleaning its books to achieve single digit non-performing loan portfolio. Urum Kalu Eke, group managing director of FBN Holdings, said Thursday that the group is aiming to achieve a single digit NPL before 2019 business year-end, adding that the first step to achieving the target the restructuring of the […]

Daar Communications posts 47% decline in revenue, earnings

Daar Communications Plc has recorded a net loss of N2.139 billion in 2016 as against a loss of N1.510 billion in year 2015. According to a notice posted on the Nigerian Stock Exchange on Tuesday, the company’s total revenue for the year under review was N3.732 billion in contrast with N7.089 billion it recorded in […]

UBA‘s $500m Eurobond oversubscribed by 240% 

… Reflects strong global investor appetite The United Bank for Africa Plc (UBA) has announced that it has successfully raised $500 million though a debut Eurobond, which was 240 per cent oversubscribed. The bank, in a statement, said the significant investor demand reflected the strong global investor appetite for UBA’s credit and support for the […]