Nigeria cannot have real development without a sustainable industrial growth and manufacturing capacity which is the solution to poverty, unemployment and insecurity. No doubt having an industrial goods production base and or a competitive industrial economy is the only remedy to Nigeria’s dependence on importation of goods, technologies and services from other nations. What is…
Last week, Guinness Nigeria Plc announced that Tolaram Group acquired 58.02 percent of shareholding divested by Diageo, its ultimate parent company, in a deal which is expected to be finalised in 2025. President Bola Tinubu had commended Tolaram Group for the expression of faith in Nigeria through the acquisition in a statement issued by his…
There is disquiet among the staff members and management of the Nigeria Civil Aviation Authority as well as in the Ministry of Aviation and Aerospace Development over the decision of who becomes the substantive director-general of the aviation regulatory agency. There has been tension within the NCAA over the past six months, due to a…
Investors in modular refineries have commenced discussions with the African Export-Import Bank in a bid to access part of the $18billion fund being planned by the bank for the development of refineries in Nigeria and other African countries. Operators in the modular refining space confirmed that this was following the successful financial assistance rendered by…
A recent survey commissioned by the Independent Project Monitoring Company (IPC) Limited has ranked Fidelity Bank PLC fourth out of 29 Nigerian banks in Environmental, Social and Governance (ESG) practices and reporting. The bank achieved a score of 57.73%. The result shows that ahead of Fidelity Bank, Zenith Bank was ranked first at 65.22%, followed…
Nigeria’s Pension Managers, also known as Pension Fund Administrators (PFAs), are under pressure following the federal government’s failure to pay accrued pension rights of newly retired employees. The federal government last paid accrued pensions in 2022 when it released N13.89 billion covering a four-month payment period. This implies that most of the federal government’s employees…
Sustainability in environmental practices is essential to protecting and rebuilding the planet, as stressed by the Union Bank. This call was made during an event organised in partnership with the Nigerian Conservation Foundation to commemorate 2024 World Environment Day. The programme held at the Lekki Conservation Centre in Lagos brought together various stakeholders, including environmental…
Fidelity Bank Plc will launch its N127.1bn capital raise via a public offer and rights issue on June 20, 2024. The lender stated that it had signed the necessary documentation to raise about N127.1bn from a public offer and rights issue to its existing shareholders to raise its capital base in line with the Central…
Guaranty Trust Bank has dragged no fewer than 60 top executives of 13 commercial banks to court as a pending suit between GTBank and Afex Commodity Exchange over N17bn Anchor Borrowers Programme loan lingers. The 60 executives, including the chairmen, chief executive officers, directors, and company secretaries of the 13 banks are facing contempt proceedings…
