BUA Cement Plc has acquired a monumental $500 million financing package from the International Finance Corporation (IFC) to help facilitate its part-finance and develop two new, energy-efficient cement production lines that will create up to 12,000 direct and indirect jobs. This partnership marks the largest-ever investment by IFC in northern[Read More…]
Nigerian Breweries Plc has concluded plans to acquire 80% stake in Distell Wines and Spirits Nigeria Limited as part of efforts to capture significant growth opportunities in the wines and spirits segment of the brewing industry. According to a notification to the Nigerian Exchange Limited, NGX, and signed by the[Read More…]
The Federal Government recorded N930.8bn fiscal deficit in January and February 2023 according to the Central Bank of Nigeria. The CBN stated in its monthly economic report for February 2023 that, “The estimated overall fiscal deficit of the FGN expanded in February, due to a drop in the retained revenue.[Read More…]
International airlines eye $803bn revenue, 4.5 billion passengers The International Air Transport Association announced an expected strengthening of airline industry profitability in an upgrade of its outlook for 2023. According to the Director-General, IATA, Willie Walsh, airline industry net profits are expected to reach $9.8bn in 2023. This represents over[Read More…]
NUBIFIE pickets Polaris Bank over unjust sack of workers The National Union of Banks, Insurance and Financial Institutions Employees (NUBIFE) on Tuesday protested at the head office of Polaris Bank in Lagos over unlawful sack of workers. With planks written:’ Respect Collective Bargaining rights of workers”, members and leaders of[Read More…]
A Federal High Court on Monday dismissed a suit seeking to compel anti-graft agencies in the country to arrest and prosecute the presidential candidate of the Peoples Democratic Party (PDP) in the 2023 poll, Atiku Abubakar. Justice James Omotosho held that the suit filed by the immediate past Minister of[Read More…]
Zenith Bank Plc Group Managing Director/Chief Executive Officer, Dr. Ebenezer Onyeagwu, has been honoured as the ‘Best Banking CEO of the Year in Africa’ in the International Banker 2023 Banking Awards. According to the Spring 2023 Issue of the International Banker Magazine, which published the award, Dr Onyeagwu was[Read More…]
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has urged the Federal Government to grant its members license to import petroleum after the deregulation of the sector. IPMAN National Public Relations Officer, Chief Ukadike Chinedu, made the call on Sunday during a press briefing in Lagos. Although he identified the[Read More…]
Polaris Bank, Nigeria’s leading digital financial institution, has restated its commitment to environmental sustainability in the country. The Bank’s commitment is coming on the heels of the 2023 World Environment Day observed yearly on June 5. The annual event is led by the United Nations Environment Programme (UNEP) which is[Read More…]
A letter from the Nigerian Civil Aviation Authority (NCAA) has revealed that the controversial national carrier, Nigeria Air has been unable to move on to phase two of the Air Operator Certificate certification procedure. Local airline operators had objected to the Federal Government’s delivery of the first Nigeria Air plane[Read More…]
