Lagos, Nigeria – April 26, 2017 – Transnational Corporation of Nigeria Plc (Transcorp), a leading Nigerian conglomerate has announced financial results for its first quarter ended March 31, 2017. The Group’s total revenue increased from N13.2bn to N15.8bn representing a 20% increase when compared to the Group’s performance in the corresponding period of 2016. FINANCIAL […]
(AFRICAN EXAMINER) – In a major strategic move to grow its market equity in Africa, Dangote Flour has unveiled new improved pasta products called ‘Ecccellente’. The re-vamped Pasta, is expected to reduce the dependency on rice consumption by Nigerians. Speaking at the Grand Customer Launch Event in Kano on Tuesday, Executive Director, Sales & Marketing, […]
Photo Caption: Igho Sanomi, CEO of the Taleveras Group By Ayo Balogun, Abuja (AFRICAN EXAMINER) – Fresh trouble is brewing for three oil companies, Aiteo Energy Resources, Talevaras Group of Companies and Ontario Oil over outstanding payments of over $184 million under-delivery of crude oil recorded under the former petroleum product swap regime. The indication […]
(AFRICAN EXAMINER) – United Bank for Africa (UBA) Plc is on the top list of companies with well-rounded performance. UBA’s top-of-the-chart performance at the stock market combines with considerable growth in all key fundamental indicators to make the bank the best performing banking stock in recent period. Capital Market Editor Taofik Salako, in this report, […]
(AFRICAN EXAMINER) – As part of its regular business portfolio review, Dangote Flour Mills (DFM), has exited its noodles business as it does not consider it strategic. The company has sold the assets of Dangote Noodles to Dufil Prima Foods, makers of Indomie noodles. To smoothen the transition, DFM has offered Dufil the use of […]
ABUJA, NIGERIA (AFRICAN EXAMINER) – President Muhammadu Buhari has forwarded the list of six nominees to the Senate for confirmation as Non-Executive Directors of the Board of the Central Bank of Nigeria (CBN). The letter to the Senate President, Abubakar Bukola Saraki, contained the nominees and their geo-political zones. They included: Professor Ummu Ahmed Jalingo […]
Photo Caption: UBA AGM: Group Managing Director/CEO, UBA Plc, Mr. Kennedy Uzoka and Group Chairman, Mr. Tony O. Elumelu, at the 55th Annual General Meeting of UBA Plc, held in Lagos on Friday. (AFRICAN EXAMINER) – The Chairman of the United Bank for Africa Plc, Mr. Tony Elumelu, has strongly commended the Federal Government and […]
Photo caption: UBA CEO, Kennedy Uzoka United Bank for Africa (UBA), Africa’s Global Bank operating in 19 African countries, has announced the promotion of 3,000 staff members, reinforcing its commitment to human capital investment and career progression, at the current challenging operating circumstances. Promotions were made across UBA’s global network. In a letter written on […]
(AFRICAN EXAMINER) – As a sigh of absolute confidence in the Management of the technology-driven new bank; SunTrust Bank, its customers increased deposits in the bank by a whopping 432 per cent, making it possible for the bank to declare an impressive profit before tax of N343 million, an increase of 160.3 per cent over […]
(AFRICAN EXAMINER) – As part of efforts aimed at boosting exports in Nigeria, Fidelity Bank has been in the vanguard of providing capacity building initiatives for customers and the business community across the country. To this end the bank in collaboration with the Nigerian Export Promotion Council (NEPC) and Ghanaian based West African Trade and […]
(AFRICAN EXAMINER) – The Federal Ministry of Finance on has announced details of members of the board and management of the newly licensed Development Bank of Nigeria (DBN). The Management team is led by Mr. Tony Okpanachi, a banker and erstwhile Deputy Managing Director/Deputy CEO, Ecobank Nigeria Limited. Before his appointment as Managing Director/ CEO […]
(AFRICAN EXAMINER) – The Central bank of Nigeria has approved the grant of a Wholesale Development Finance Institution Licence with national authorization to the Development Bank of Nigeria (DBN) Plc, the Minister of Finance, Mrs. Kemi Adeosun has confirmed. The approval was conveyed in a letter addressed to the Managing Director/Chief Executive of Officer of […]
(AFRICAN EXAMINER) – United Bank for Africa (UBA) Plc, the pan-African financial services group, operating in 19 African countries, has released its audited 2016 full year results, showing significant growth in gross earnings and profits, an attestation to its resilience, enhanced productivity and geographic diversification, evident in the impressive contribution from its African subsidiaries. The […]
BALTIMORE, MD (AFRICAN EXAMINER) – In another move to make Naira appreciates further against Dollar, the Central Bank of Nigeria (CBN) has introduced N360/ Dollar as the new Forex rate for various invisibles. CBN assured Monday that the new rate would be available to Nigerians who wish to buy in all commercial banks across the […]
Picture caption: Group Managing Director (GMD), Nigeria National Petroleum Corporation (NNPC), Dr. Maikanti Baru (AFRICAN EXAMINER) – The Nigerian National Petroleum Corporation, NNPC has commended Taleveras, one of Nigeria’s oil companies for its cooperative attitude in the ongoing reconciliation of transactions in the defunct crude for products arrangement. Group Managing Director (GMD), Nigeria National Petroleum Corporation […]
BALTIMORE, MD (AFRICAN EXAMINER) – Allianz has received the Africa CEO Forum ‘International Corporation of the Year’ award. Speaking at the 5th annual event, which held in Geneva, Allianz Regional CEO Africa, Coenraad Vrolijk, said: “We are so honored that Allianz’ commitment to Africa has been recognized with this award,” noting that Allianz has been […]
Picture Caption: Chairman of the Zenith Bank Plc, Jim Ovia (AFRICAN EXAMINER) – Shareholders of Zenith Bank Plc on Wednesday approved final dividend of N55.573 billion for the year ended December 31, 2016, bringing the total payout to N63.422 billion. The dividend, which translates to N1.77 per share, was paid out of N129.65 billion recorded […]
LAGOS, NIGERIA (AFRICAN EXAMINER) – Aviation Union Workers under different aegis Thursday staged a protest march to the Lagos office of Arik Air. The unions involved in the protest were National Union of Air Transport Employees (NUATE), Air Transport Services Senior Staff Association of Nigeria (ATSSSAN) and the National Association of Aircraft Pilots and Engineers […]
Picture Caption: Tony Elumelu, Chairman of Heirs Holdings, United Bank for Africa, Transcorp and founder of The Tony Elumelu Foundation TEF ANNOUNCEMENT IS IN LINE WITH US$100M COMMITMENT MADE IN 2015 TO EMPOWER 10,000 AFRICAN ENTREPRENEURS OVER THE NEXT 10 YEARS LAGOS (AFRICAN EXAMINER) — The Tony Elumelu Foundation (TEF), an African founded and funded 21st century […]
BALTIMORE, MD (AFRICAN EXAMINER) – The G20 Finance Ministers have dropped an anti-protectionist commitment due to opposition from the US. In spite of the resolution, the world strongest economy Ministers left the two-day meeting without renewing their long-standing pledge to bolster free trade. It would be recalled that the group last year vowed to “resist […]
