Analysts optimistic as Julius Berger beats odds with 40% revenue growth to N338.8bn
Charles Abuede, Julius Berger GroupApril 6, 2022
BY CHARLES ABUEDE Analysts across the market spectrum are positively upbeat about Julius Berger Group’s performance amidst the challenges or any new or potential headwinds that may result from a combination of both ongoing supply-chain impediments arising from the COVID-19 pandemic and multiplier effects of the Russia-Ukraine conflict. This comes after the leading Nigerian company […]
CardinalStone promotes Somuah to partner to lead new Ghana office
Charles AbuedeApril 6, 2022
BY CHARLES ABUEDE CardinalStone Capital Advisers (CCA), a leading West-Africa focused private equity fund manager, has appointed Shirley Somuah as a partner to lead expansion into Ghana for the company as it strengthens its presence in Ghana with a new office opening in Accra in the second quarter. This will be CCA’s first physical presence […]
Lagos Free Zone looks to recoup 21% of $3.5bn investment by 2024
Businessam StaffApril 5, 2022
The Lagos Free Zone (LFZ) is targeting to recoup 21 percent of the estimated $3.5 billion to be invested in the project by the end of 2024. The project was designed to strengthen Nigeria’s position as a commercial centre and preferred industrial hub in West Africa with world-class infrastructure, facilities and services. Dinesh Rathi, managing […]
Julius Berger says construction of 2nd Niger Bridge complete
Businessam StaffApril 5, 2022
Julius Berger Nigeria Plc, Nigeria’s infrastructure construction leader, said it has completed the last span of construction of the 1.6-kilometre Second River Niger Bridge project spanning from Asaba in Delta State to Onitsha, Anambra State, aimed at easing traffic, enhancing commercial activities and improving the lives of the people. Zainab Ahmed, the minister of finance, […]
Leadway, Slum2School Africa in CSR education initiative for indigent kids
Charles AbuedeApril 5, 2022
BY CHARLES ABUEDE Leadway Assurance Company Limited, one of Nigeria’s largest insurers, has teamed up with Slum2School Africa, a renowned non-governmental organisation, to provide free and quality education to indigent children living in slums and remote communities in Nigeria. The initiative, which aligns with the global quest to help the United Nations realise its Sustainable […]
Sirika gives multiple assurances govt to keep off national carrier
Sade WilliamsApril 5, 2022
BY Sade Williams/Business a.m. Hadi Sirika, a former senator and Nigeria’s current minister of aviation, took the opportunity offered by the ongoing World Government Summit (WDS) in Dubai to offer multiple assurances that the government will keep its hands off the new national airline being planned by the government. There have been outcries of ‘here […]
Anchor Borrowers Programme: Stakeholders seek new FMARD home over CBN’s dominance
Onome AmugeApril 4, 2022
BY ONOME AMUGE The Central Bank of Nigeria (CBN), according to the amended CBN Act of 2007 as derived from the 1958 Act of Parliament, is entrusted with the overall control and administration of the monetary and financial sector policies of the federal government. Thus, the apex bank is saddled with diversified objectives, with the […]
Businesses rethink practices over Nigeria’s GenZ lifestyles – global survey
Onome AmugeApril 4, 2022
BY ONOME AMUGE Nigeria is the most populous country in Africa and home to the largest number of youths in the world. A 2021 World Bank report, in its assessment of the country’s high youth populace, stated that 74 percent global growth of youth population aged 18-23 will be largely situated in Nigeria and nine […]
ABCON intensifies pushback lobby to get members on CBN’s FX framework
Charles AbuedeApril 4, 2022
BY CHARLES ABUEDE The Association of Bureau De Change Operators of Nigeria (ABCON) has intensified its lobby to get its members back on the mainstream of Nigeria’s foreign exchange demand and supply framework, offering a strong analytical pushback on how the Naira has yo-yoed in value without their active involvement in the official template. ABCON’s […]
Babaura new CEO as Obabori retires from Red Star Express
Businessam StaffApril 4, 2022
Stanbic IBTC BankAuwalu Badamasi Babaura has taken over as the new managing director of Red Star Express, a leading Nigerian logistics company, following the completion of term and retirement of Sola Obabori, the erstwhile chief executive officer. Charles Uche Ejekam was also appointed by the company as the new executive director, sales and marketing. A […]