The Federal Government has approved the disbursement of N308 billion worth of Promissory Notes to 199 exporting companies under the Export Expansion Grant (EEG) Scheme. While issuing letters to some beneficiaries of the scheme, the Executive Director of the Nigeria Export Promotion Council (NEPC), Dr. Yakusak, commended the Federal government and the National Assembly for…
US luxury department store chain Nordstrom announced Thursday it is pulling out of Canada, closing 13 stores and putting 2,500 staff out of work. “We entered Canada in 2014 with a plan to build and sustain a long-term business there. Despite our best efforts, we do not see a realistic path to profitability for the…
TikTok is closing in on streaming giant Netflix when it comes to the amount of time US adults spend on the platforms, according to a report released Thursday by Insider Intelligence. TikTok use eclipsed that of YouTube two years ago and has continued to grow faster than the Google-owned video sharing platform, particularly among US…
Wema Bank is looking to investors to raise a N25 billion debt needed to scale its Small and Medium Enterprise (SME) business, which as of 2021 made up less than 2 per cent of its capital. “The Bonds are being issued privately to targeted investors and will not be listed on any Security Exchange,” the…
Lafarge Africa Plc., a leading Sub-Saharan Africa Building Solutions Company and member of Holcim, the global leader in innovative and sustainable building solutions, today announced the commencement of the internationally renowned Holcim Awards for sustainable construction. The Holcim Awards recognises and promotes projects that combine sustainable designs and sustainable construction with architectural excellence is now open for entries. The Holcim…
Guaranty Trust Bank (GTBank) has denied giving N500 million new notes to any presidential candidate in Saturday’s election. A Twitter user, @ifygold21, had earlier tweeted that the bank gave the sum to a presidential candidate on Friday due to an order from President Muhammadu Buhari. The post was retweeted 6,442 times with 14,500 likes. But…
Banks under the aegis of the Association of Corporate Affairs Managers of Banks (ACAMB), have debunked the claim of shutting down services for the general elections slated for Saturday, February 25, 2023.Following the polls, there have been some trending messages suggesting that commercial banks will close its services. But in a statement on Wednesday, ACAMB…
Naira gained slightly against the United States dollar at the Investors and Exporters window on Wednesday , a day after it fell amidst scarcity of new naira notes in the country. Data posted on FMDQ website, where forex is officially traded, showed that the local currency closed at ₦461.50 per $1 on Wednesday, translating to…
By Ayomide Otitoju Elegance, luxury, and class are some of the unique qualities that top restaurants exude. The SRS Collection, a leading luxury hospitality brand in Lagos, launched its five-star restaurant, The GoodLife Restaurant, on February 12th, 2023. This restaurant, without a doubt, will be one of the most upscale waterfront dining spots in the…
