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Prudential announces Africa Cup of Nations 2021 sponsporship

Prudential announces Africa Cup of Nations 2021 sponsporship

Prudential Africa has signed a sponsorship agreement with the Confederation of African Football (CAF) to become the official insurance partner of the ongoing 33rd edition of Africa Cup of Nations (AFCON) 2021. At a press…

Business
FG imposes N10/litre on excise duty on soft drinks

FG imposes N10/litre on excise duty on soft drinks

The federal government has introduced an excise duty of N10/litre on all non-alcoholic, carbonated and sweetened beverages. Zainab Ahmed, minister of finance, budget and national planning made the announcement during a public presentation of the…

Business
Dangote Cement gains over N25b in value as stock market closes bullish

Dangote Cement gains over N25b in value as stock market closes bullish

Dangote Cement Plc, the most capitalized company on the Nigerian Exchange, today recorded a growth in share price taking the price to N256.50, slightly appreciating by 0.59%. The cement producer traded the highest in value…

Business
CBN approves Abdullahi to succeed Babalola as FBNH Chairman

CBN approves Abdullahi to succeed Babalola as FBNH Chairman

The Central Bank of Nigeria has approved the appointment of Alhaji Ahmad Abdullahi as non-executive Director of First Bank Holding Plc and Chairman of the company This follows the recent resignation of the former Chairman…

Business
Banks earn N88.9b from account maintenance in 9 months

Banks earn N88.9b from account maintenance in 9 months

Banks operating in the country have made the sum of N88.9 billion from account maintenance charges deducted from deposits of their customers in the 9-month period of 2021 (January – September). The figure is sourced…

Business
US digital giant, Equinix to acquire Funke Opeke’s MainOne for $320m

US digital giant, Equinix to acquire Funke Opeke’s MainOne for $320m

A US digital infrastructure company, Equinix on Monday announced its expansion into Africa through its intended acquisition of MainOne, a leading West African data center and connectivity solutions provider, with a presence in Nigeria, Ghana,…

Business
Igbo traders petition CBN over alleged indiscriminate bank charges 

Igbo traders petition CBN over alleged indiscriminate bank charges 

The South-East Amalgamated Markets Traders Association has addressed a petition to the Central Bank of Nigeria alleging indiscriminate bank charges by commercial banks . In an open letter to the Governor of the Central Bank of…

Business
Moroccan company, Dolidol acquires Mouka in $60 million deal

Moroccan company, Dolidol acquires Mouka in $60 million deal

Investment firm, Development Partners International (DPI), has announced the signing of Dolidol’s acquisition of Mouka, making Dolidol a regional champion and leader in the African bedding and mattress industry. Dolidol, a market-leading operator in Francophone…

Business
Peter Obi encouraged me to produce SUVs, pick-ups, says 𝐈𝐧𝐧𝐨𝐬𝐨𝐧

Peter Obi encouraged me to produce SUVs, pick-ups, says 𝐈𝐧𝐧𝐨𝐬𝐨𝐧

The Chairman of Innoson Group, Dr. Innocent Chuwuma ,has identified a former governor of Anambra state, Peter Obi as being the motivational force behind his decision to manufacure Sub-Urban Vehicles (SUVs) and pick ups. The…

Business
MTN Nigeria launches N97.2b public offer

MTN Nigeria launches N97.2b public offer

Nigeria’s largest telecommunications company, MTN Nigeria Communications (MTN Nigeria) Plc will tomorrow open application list for its public offering of 575 million ordinary shares to the general retail investing public at a price of N169…