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MTN loses 6.5 million data subscribers, Glo gains

The 2016 first quarter telecoms industry report has shown that MTN Nigeria lost 6.5 million Internet subscribers between the months of January and March. From a report published on the website of the Nigerian Communications Commission, the company began the year with 39,924,737 data customers, “but ended the quarter with 33,356,595.”  It showed that another telco, Globacom, garnered 1,448,354 fresh ...

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UBA Provides N236.4 billion For NNPC/Chevron 36 New Oil Wells

The United Bank for Africa, UBA, has said  that it has signed a $1.2 billion oil financing agreement with the Nigerian National Petroleum Corporation, NNPC joint venture with Chevron Nigeria Limited, CNL, to fund the development of 36 new oil wells. The deal is expected to help significantly expand Nigeria’s oil production capacity, which currently stands at an average of ...

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FRSC redeploys officers

The Corps Marshal of the Federal Road Safety Commission (FRSC), Boboye Oyeyemi, has approved redeployment of some senior officers to step up effectiveness of the commission. The Head, Media Relations and Strategy, FRSC, Bisi Kazeem, disclosed this in a statement in Abuja yesterday. He said “Affected principal officers include: Mr. Austin Aipoh, Head, Command Administration and Strategy at the headquarters ...

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South African ‘Pick & Pay Set To Rival Shoprite In Nigeria

Pick n Pay, another South African retail mall in the mould of Shoprite, has announced plans to come into the Nigeria market. The company, which posted a 26-percent increase in profit for 2015, said it had examined the opportunity in Nigeria and will be investing in the country. “A key part of the Group’s strategy is to establish a second engine ...

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Zenith Bank Emerges Toast Of Investors At Stock Exchange

New-Zenith-Boss, Peter Olisamedua Amangbo

The Nigerian Stock Exchange on Thursday sustained positive growth with the market capitalisation appreciating further by N43 billion. Zenith Bank was the toast of investors, trading 21.56 million shares worth N259.39 million. It was followed by Guaranty Trust Bank with a total of 21.52 million shares valued at N345.55 million, while FBN Holdings traded 17.07 million shares worth N57.46 million. ...

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The Rise And Rise Of Dangote In Africa Cement Production

dangote cement

Dangote Cement Plc invested over $5bn to build 44 million tonnes per annum cement factories in eight African countries in 2015, the firm said in its 2015 annual report. These countries are: Nigeria, Cameroon, Ethiopia, Senegal, South Africa, Tanzania, Zambia and Ghana. The Chairman, Dangote Cement, Aliko Dangote, was quoted in the report as saying that the business model of ...

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Sterling Bank Emerges Top at Risk Management Award *Holds 54th AGM

In recognition of its excellent risk management practices, Sterling Bank was conferred with the award for the Best Bank in Nigeria in the Banking and Investment Services category of the Nigeria Risk Award (NRA) for 2015. The Award was presented to the Bank last weekend at Nigerian Economic & Social Risks Summit which held in Lagos.  This Award is coming ...

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UBA Rewards Staff At Annual CEO awards

It was an exciting evening on Saturday, April 9, 2016 as staff of pan-African financial services group, United Bank for Africa (UBA) Plc gathered at the Eko Hotel and Suites in Lagos, Nigeria, to celebrate the bank’s staff that have performed exceptionally well in the 2015 financial year.  It is a tradition that the bank has maintained since 2008 and ...

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AFRACA praises Union Bank’s agric financing role

union bank - emeka emuwa

Stakeholders in the Agricultural Sector have commended Union Bank Plc for investing heavily in rural agriculture and being in the forefront of implementing most of the Federal Government policies on Agriculture to ensure food security in the country. The lender received these praises in Abuja at the two-day Nigerian Finance conference with the theme “Catalysing the Diversification of the Nigerian ...

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