Category: Business

Shareholders of Eland Oil & Gas Plc have given overwhelming backing to the £382 million takeover of the company by indigenous oil & gas producer, Seplat Petroleum Development Company Plc. At two meetings of shareholders on Wednesday 20 November, resolutions in favour of the proposed takeover of Nigeria-focused Eland were approved by 99.9 per cent of votes cast. Subject to court approval, the takeover is expected to become effective on 17 December 2019. The cash takeover announced in October provided recognition of Eland’s achievement in building a successful exploration, development and production business…

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…….. Subsidiaries win Best Bank in Benin, Chad, Cote D’Ivoire, Gabon, Congo, Sierra Leone at The Bankers Awards The Banker Magazine has once again selected leading African financial institution, United Bank for Africa (UBA) Plc as the “African Bank of the Year 2019”. This is the second time, UBA has clinched the prestigious award, having been named Best African Bank of 2017 by The Banker magazine. This year, UBA also won best bank category in 6 of its subsidiaries: UBA Benin, UBA Tchad, UBA Gabon, UBA Congo, UBA Cote D’Ivoire and UBA…

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Shell companies has won the Industry Achievement award at the 2019 awards night of the Petroleum Technology Association of Nigeria (PETAN), the umbrella body of indigenous technical oilfield service companies in the upstream and downstream sectors of the Nigerian oil and gas industry. The Managing Director, The Shell Petroleum Development Company of Nigeria Limited (SPDC), Osagie Okunbor, was also honoured at the event with the Aret Adams Award for Excellence for leading a formidable team in Shell to deliver value to its partners, stakeholders and particularly the country. PETAN President,…

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In a remarkable gesture of recognition and gratitude, Dangote Industries Limited, Nigeria’s most valuable brand and Africa’s most admired brand, yesterday honoured 160 staff for their long service, loyalty, commitment and vital contributions to the growth of the Pan-African conglomerate. At a dinner held in Lekki, Lagos, elated staff ranging from the Group Managing Director, Mr. Olakunle Alake, to drivers and security personnel were feted like royalty for their loyalty to an organisation, which was recently ranked as the best indigenous company to work in Nigeria according to the Jobberman…

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……..from the Federal Government of Nigeria Tony O. Elumelu, CON, Founder of The Tony Elumelu Foundation (TEF) and Chairman of the United Bank for Africa Group (UBA) and Heirs Holdings, will be conferred with the National Productivity Order of Merit (NPOM) Award by the President of the Federal Republic of Nigeria, H.E. Muhammadu Buhari, GCFR in recognition of his continuous hard work and total commitment to the empowerment of youths in Nigeria and Africa. The award ceremony will be held in Abuja, Nigeria on Thursday, November 28. The NPOM Award was instituted by the Federal Government through the Ministry of Labour and Employment…

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……….Via Financial Inclusive Initiatives Heritage Bank Plc has continued to structure financial inclusive initiatives in empowering over 2000 female entrepreneurs towards economic enablement and self-realization while  taking into consideration the importance of Micro, Small and Medium Enterprises (MSMEs) to the economy. This move is in line with the people-oriented policies of the Central Bank of Nigeria (CBN), Heritage Bank Plc is partnering with a Non-Governmental Organization, Prime Women Builders Foundation of Nigeria (PWOBFON) in providing skills training to the female entrepreneurs. At the graduation ceremony and certificate award ceremony held…

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  Astonished at the humongous installations currently going on at the 650,000bpd capacity Dangote Petroleum refinery and petrochemical projects, the Kano Professionals Forum, who visited the sites, described the investments as huge and mind boggling. The Forum is a congregation of men who have attained the peak of their various professional callings and have dedicated their experience to helping the society. Leader of the team, Mr. Munzali Jibril, a Professor Emeritus, who spoke on behalf of the Forum members said: “The Dangote Refinery and Fertilizer Project is incredible. It’s unbelievable. The scale of…

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Intellectuals and leading minds across Africa have suggested the adoption by governments,  of strategic policy actions which are expected to ultimately lead to the economic prosperity of the continent. The Academics who spoke during the first Lecture Series of the UBA Professorial Chair in Finance at the University of Lagos (UNILAG) on Tuesday, listed a number of policy measures and strategies that can bring about far reaching results. These include instituting stable macro-economic policies, the adoption of supply-side strategies, capital market development, enhancement of banking and financial system, liberalisation of the…

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The Debt Management Office (DMO) says that Nigerian’s total debt profile is N25.7 trillion. The Director-General of the office, Ms Patience Oniha, announced this while addressing House of Representatives Committee on Public Account on Friday in Abuja. “As at June 2019, our debt profile is at N25.7 trillion; this includes the federal, states governments and the Federal Capital Territory (FCT). “We call it the total public debt, out of this total, the Federal Government is responsible for 80 per cent of the debt,” she said. Oniha said that external borrowing…

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September 30, 2019 seemed like a normal business day for Dayo Ayoade, Managing Director of Travel Deals Limited, Lagos, until he discovered that Guaranty Trust Bank Plc had placed a lien on his bank account. On approaching the bank, he was arrested and detained at the Area F Police Station, Lagos State without any charge for a period of five days, placed in the cell amongst hardened criminals and handcuffed to the hospital bed like a common criminal and later transferred to Port Harcourt, Rivers State. Enquiries from his family…

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