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Home » BUSINESS (page 192)

BUSINESS

NAHCO deploys new N1.5Billion Naira equipment at airports

NAHCO aviance, a ground handling company, has deployed new equipment in major airports across the country. The equipment that arrived the country last month, were currently being deployed to all airports where NAHCO operates. According to the Head, Corporate Services, Nahco aviance, Ahmed Bashir Gulma, the company invested the sum of N1.5Billion in the new equipment. Gulma said “We are ... Read More »

UBA wins award as largest lender to agriculture

Pan-African Financial Services group, United Bank for Africa (UBA) Plc was honoured recently with an award as Nigeria’s biggest lender to agriculture. The award was conferred on the bank by the Lagos Chamber of Commerce and Industry (LCCI) at the chamber’s annual commerce and industry awards night. The LCCI awards night recognises, promotes and celebrates private and public sector institutions ... Read More »

Nigeria records 27.93% decline in international travelling – NBS

Nigeria has recorded a decline in the number of passengers travelling into the country, driven by lower number of internationally travelling passengers, which declined by 27.93 per cent. This is contained in the Nigerian Aviation Sector Summary Report for second quarter of 2015 released by the National Bureau of Statistics (NBS) on Friday in Abuja. The report said that the ... Read More »

Nigeria records 7.1 million Facebook users daily

At least 7.1 million people use Facebook daily in Nigeria, making the country Africa’s biggest user of the social media platform, new statistics released by the company on Thursday has shown. Facebook released the data less than one week after Twitter opened its doors to Nigerian advertisers. Nigerian Facebook users top Kenya’s 2.2 million daily users and make up the ... Read More »

UBA trims loans as African units turn profit

United Bank for Africa (UBA) lowered its forecast for 2015 loan growth to five to eight percent from 15 to 20 per cent as rising regulatory and economic uncertainty increase risks to lending, the bank said yesterday. UBA CEO Phillips Oduoza told Reuters in an investor call that the lender would maintain a conservative approach to lending for the second ... Read More »

Sterling Bank earns N55b in half year results

Sterling Bank Plc recorded modest growths in the first half with 12 per cent growth in the top-line and 6.9 per cent increase in net profit. Key extracts of the interim report and accounts for the half year ended June 30, 2015 released yesterday at the Nigerian Stock Exchange (NSE) showed steady growth in key performance indices, underlining the resilience ... Read More »

Stanbic IBTC to engage regulatory authorities over Rights Issue suspension

Stanbic IBTC Holdings Plc has pledged to engage the relevant regulatory agencies undertaking enquiries into its account to ensure that issues leading to the suspension of its planned rights issue by the Securities and Exchange Commission (SEC) are addressed in a timely manner. The SEC had in public notice yesterday said that it has put the proposed rights issue by ... Read More »

Diageo to increase equity stake in Guinness Nigeria

Diageo Plc, the parent company of Guinness Nigeria Plc, has announced plans to increase its equity stake in Guinness from 54.3 per cent to a maximum of 70 per cent. In a statement signed by the company’s secretary, Sesan Sobowale, the company noted that Guinness overseas will launch a partial tender offer at a price not higher than N175 per ... Read More »

Kaduna Refinery resumes production in Dec – NNPC

The Nigerian National Petroleum Corporation, NNPC, disclosed yesterday that Kaduna Refinery will resume the production of Premium Motor Spirit, PMS (petrol), within the next three months. This was even as NNPC stated that it had lifted the embargo earlier placed on 113 vessels, banning them from engaging in crude oil and gas loading activities in any of the terminals within ... Read More »

MultiChoice Assures CPC Of Quality Service To Subscribers

Leading pay-TV provider, MultiChoice Nigeria, has assured the Consumer Protection Council (CPC) of its commitment to the continuous provision of top quality service to its subscribers. The assurance was given in Abuja on Thursday at the scheduled hearing into costumer complaints, which held at the head office of the CPC. Managing Director, MultiChoice Nigeria, John Ugbe, led the team of ... Read More »