Flour Mills Of Nigeria Grows Profit By 90% To $41m
Nigeria’s integrated food business and agro-allied group, Flour Mills of Nigeria Plc, has continued its strong performance, growing its profit after tax (PAT) for the third quarter ended December 2020/21 by 91 per cent. The Group posted a revenue of 1.46 billion dollars in Q3, up from 1.11 billion dollars in the corresponding period of […]
Former US Officials Urge Biden To Back ‘Stellar’ Okonjo-Iweala For WTO DG
Former senior United States government officials have advised President Joe Biden to support Nigeria’s candidate, Dr. Ngozi Okonjo-Iweala, to head the World Trade Organisation (WTO) as Director General. Okonjo-Iweala, who would be the first woman to lead the WTO is a dynamic leader who has the vision to manage the Geneva-based trade body through an […]
Nigeria: Zenith Bank To Bar Customers With Unrepatriated Export Proceeds
In line with a fresh directive from the Central Bank of Nigeria (CBN) that all exporters with unrepatriated export proceeds should be barred from accessing all banking services from January 31st, 2021, Zenith Bank Plc has notified its customers in export business of its readiness to enforce the policy. The bank gave the notification to its customers […]
(NCTP) Indicts Humanitarian Affairs, Disaster Management and Social Development Of Corruption And Inefficiency In Nigeria’s $2bn Cash Transfer Program
As Nigeria’s federal government plans to commence fresh disbursement of money to citizens, in short-term palliative measures to alleviate poverty, some operators in the government’s National Cash Transfer Programme (NCTP) have alleged a high-level of inefficiency, corruption, and nepotism in the system as run by the Minister of Humanitarian Affairs, Disaster Management and Social Development, […]
Asian Stocks Rises To Record Highs On Biden Stimulus Package
Asian stocks scaled to record highs on Thursday as investors were hopeful the incoming Biden administration will be able to secure passage of a massive new stimulus package to cushion the economic damage of the Covid-19 pandemic. Republicans in the US Congress have indicated they are willing to work with President Joe Biden on his […]
Expansion Drive: Access Bank Targets Eight More African Countries
Access Bank Plc has unfolded plans to expand to eight more African countries as part of a strategy to support trade and finance in the continent and take advantage of the newly formed African Continental Free Trade Area (AfCFTA). The countries are Morocco, Algeria, Egypt, Ivory Coast, Senegal, Angola, Namibia and Ethiopia. The Group Managing […]
Increase In Alibaba Shares As Jack Ma Reappears
Shares in internet giant Alibaba soared more than eight percent Wednesday after billionaire founder Jack Ma made his first public appearance since November, ending weeks of speculation about his whereabouts after the company took a kicking from Chinese regulators. Ma — one of Asia’s richest people with a fortune estimated at around $58 billion — […]
Vice-Chairman Of Samsung Electronics Jailed Two and A Half Years For Bribery
Billionaire Vice Chairman of Samsung Electronics, Lee Jae-yong was sent back to prison on Monday after a South Korean court sentenced him to two and a half years over his involvement in a 2016 corruption scandal that spurred massive street protests and ousted South Korea’s then-president. In a much-anticipated retrial, the Seoul High Court found […]
Tesla Starts Delivery Of Shanghai-made Model Y SUVs In China
Tesla Inc said on Monday it has started delivering its Shanghai-made Model Y sports utility vehicles to customers in China. A representative for the U.S. automaker made the comment in response to a query from Reuters. The company obtained permission to start selling the cars from the Chinese government in November and has set a […]
Nigeria:96 Companies Indicate Interest To Rehabilitate NNPC
Ninety-six companies from various jurisdictions have indicated interest in rehabilitating the Nigerian National Petroleum Corporation (NNPC) downstream infrastructure, including critical pipelines, depots and terminals. A statement Thursday in Abuja by the Group General Manager, Group Public Affairs Division of the NNPC, Dr. Kennie Obateru, said the 96 companies emerged during a virtual public bid opening […]
