BALTIMORE, MD (AFRICAN EXAMINER) – Former IMF boss Rodrigo Rato has been sentenced for four years and six months in prison over financial misconduct. Mr. Rato was found guilty Thursday for misusing funds when he was the boss of two Spanish banks. Spain’s National Court, which deals with corruption and financial crime cases, held that he […]
ABUJA – Sequel to its promise to ease the difficulties encountered by Nigerians in obtaining funds for Foreign Exchange transactions, the Central Bank of Nigeria (CBN) on Tuesday, February 21, 2017, carried out wholesale interventions in the interbank FOREX market by providing a total sum of $370,810,810.79 to 23 banks to meet the visible […]
If you had told 25 year old Nicole that one day she would be earning more from her investments than she could from a salary, she would have never believed you. If you had told her that her investment would be in flowers, she would have fallen over laughing! But, that is exactly what happened […]
IGNATIUS OKPARA, Enugu (African Examiner) – The Enugu state government through its Board of Internal Revenue Monday sealed off eight commercial banks with a combined number of 36 network branches in the state over tax evasion. It said the financial institutions failed to remit over one billion naira (N1,000, 000, 000. 00) withholding tax. According […]
(AFRICAN EXAMINER) – Distributors of the Dangote foods companies, including Dangote Flour, Sugar and Salt smiled home last night as the management of the Companies doled out over N2 billion as rewards for their loyalty to the companies over the past one year. At a colourful Gala night which the distributors were hosted to last […]
BALTIMORE, MD (AFRICAN EXAMINER) – The Allianz Global Corporate & Specialty (AGCS) has appointed Mr. Thusang Mahlangu as its new African CEO. Mahlangu succeeded Ms. Delphine Traoré Maïdou who remains on AGCS Africa Board, a position which extends her role for the underwriting group, such as supporting Allianz’s strategy across the African continent. The appointment which […]
(AFRICAN EXAMINER) – Dangote Rice, a subsidiary of Dangote Group is set to launch in Sokoto, Sokoto state it’s multi-million naira 25, 000 hectares of rice Outgrower scheme with a prospect of hundreds of thousand of employment opportunities for the rural communities inhabitants. President of the Group, Aliko Dangote disclosed at the weekend that the […]
By Niyi Balogun LAGOS, NIGERIA (AFRICAN EXAMINER) – The recent Federal Government’s Whistle-blower policy has started yielding fruit, as sum of US$151 million and 8 billion Naira looted funds have been recovered. Minister of Information and Culture, Alhaji Lai Mohammed, who said this in a statement issued in Lagos Sunday, however clarify that the bogus […]
LAGOS, NIGERIA (AFRICAN EXAMINER) – The Asset Management Corporation of Nigeria (AMCON) has expressed its resolve to support Arik Airlines as it recently plunged into financial distress. AMCON’s Spokesperson Jude Nwauzor disclosed that the intervention was a confirmation of the Federal Government (FG) commitment to ensure that there is sanity in the country’s aviation sector […]
Ayodele Afolabi, Abuja ABUJA, NIGERIA (AFRICAN EXAMINER) – The National Chairman of the All Progressives Congress (APC), Chief John Odigie-Oyegun on Wednesday hailed the ongoing bilateral discussions between Nigeria and the Republic of Niger which, aimed at piping crude oil from the Republic of Niger for refining at the Kaduna Refining and Petrochemical Company (KRPC). […]
BALTIMORE, MD (AFRICAN EXAMINER) – Foremost automobile giant Volkswagen has agreed to pay minimum of $1.2bn (£1bn) to fix or buy back 78,000 diesel cars in the US to settle more emissions – cheating claims. Without regulatory approval, the German car giant could be forced to buy back all of the cars, with about $4bn. The […]
By Tajudeen Balogun LAGOS, NIGERIA (AFRICAN EXAMINER) – Business organizations in Nigeria have been charged to ”invest more resources” on better monitoring of politics and policy-making around the world in 2017, so as to mitigate volatility risks and anticipate any sudden changes of rules that could impact markets’ activities. This is against the background of the confirmation by the […]
By Ganiyu Nasirudeen ABUJA, NIGERIA (AFRICAN EXAMINER) – The Nigerian National Petroleum Corporation (NNPC) has urged motorists in Abuja and its environs, as well as the entire country, not to engage in any panic buying of petroleum products. The oil giant assured motorists that it has 1.3billion litres stock of PMS, otherwise called petrol, which […]
*Team Includes Consortium of Heirs Holdings Group Executives Davos, Switzerland – Philanthropist and serial entrepreneur Tony O. Elumelu, CON leads a delegation of senior executives from his proprietary investment firm, Heirs Holdings, to the World Economic Forum (WEF), which begins in Davos, Switzerland today. Elumelu will join global business and political leaders during the event, bringing […]
BALTIMORE, MD (AFRICAN EXAMINER) – Foremost industrialist and President of Dangote Group, Aliko Dangote on Tuesday told the audience at the World Economic Forum (WEF) holding in Davos Switzerland that a joint effort between government and private sector to tackle the power deficit remained a key element in boosting the economy of Africa. Dangote, who […]
Davos, Switzerland, 17 January 2017 – The United Bank for Africa (UBA) will be strongly represented at the annual meeting of the World Economic Forum (WEF), which begins in Davos, Switzerland today. UBA CEO Kennedy Uzoka leads a senior executive team, at one of the most important events on the global economic calendar. The UBA delegation will interact with global business and political leaders during the event. The delegation will also include Group Head […]
Lagos; Nigeria; 17 January 2017: United Capital Plc, a leading African investment banking group, has partnered with global financial and corporate institutions to set up a Franco-African Investment Fund (FFA), with investible funds of 77 million euro. The aim of the fund is to accelerate the growth of innovative and entrepreneurial African and French small and medium scale enterprises (SMEs) with […]
BALTIMORE, MD (AFRICAN EXAMINER) – Heritage Bank has embarked on mass retrenchment of its workers with 400 staff sacked in December. Investigations on Monday indicated that more workers are penciled for sack. The bank, in October 2014, acquired Enterprise Bank with about N56bn ($281m). A top management source in the bank, who pleaded anonymity, said […]
LAGOS, NIGERIA (AFRICAN EXAMINER) – Hope of price slash of the Liquefied Petroleum Gas, (cooking gas) looms as the stranded vessel on the water with the product has finally delivered its consignment in Lagos. The Punch reported that the General Manager External Relations, NLNG, Kudo Eresia-Eke, said in an emailed statement, “NLNG’s LPG vessel successfully […]
Ayodele Afolabi, Abuja ABUJA, NIGERIA (AFRICAN EXAMINER) – The passage of the Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) preparatory to working on the 2017 budget, amendment of the Company and Allied Matters Act (CAMA) and the Universal Basic Education Act as well as the continuation of the Ministerial Briefing on the […]
