Category: Business

Polaris Bank Limited has announced the appointment of Mr. Segun Opeke as an Executive Director of the Bank by the Board of Directors and AMCON. The development is coming on the heels of the recent appointment of Mr. Innocent C. Ike as the Acting Managing Director of the Bank. Segun Opeke has over twenty-six years of hands-on work experience acquired from leading Nigerian commercial banks with over fifteen of these years in Senior and Executive Management roles. Until his appointment, Mr. Opeke was the Directorate Head, Lagos Business. The Lagos…

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The Managing Director, Shell Nigeria Exploration and Production Company Ltd., (SNEPCo), Mr Bayo Ojulari, says collaboration amongst indigenous players in the energy sector will increase their local content participation. Ojulari said this while speaking at the 12th Edition of annual PSRG-RICHARDSON Health, Safety, Security and Environment (HSSE) Forum held virtually in Yenagoa on Wednesday. The forum, which held as a Webinar due to health protocols induced by the COVID-19 pandemic, had the theme entitled: ”Nigerian Content Development: Facing the Future”. He said that industry players and companies ready to be creative…

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In its bid to support the growth of Micro Small and Medium Enterprises(MSME) and equip them with the necessary tools to strengthen and sustain their businesses, Pan African Financial Institution, United Bank for Africa (UBA) Plc is set to organise another edition of its quarterly UBA Business Series. The UBA Business Series which is held quarterly, is an MSME Workshop and a capacity building initiative where leading business leaders share insights on best practices for running successful businesses in the face of huge economic challenges. The outbreak of the COVID-19 pandemic presented a…

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The management of Arik Air on Monday apologised to its customers whose travel plans were disrupted by the picketing of operations by some Aviation unions on September 14. Manager, Communications of Arik Air, Mr Adebanji Ola, made the apology in a statement in Lagos. The operations of Arik Air on September14 was shut down by the Aviation unions over alleged nonpayment of staff salaries since April, after placing 90 per cent of the workforce on compulsory leave and other anti-labour practices. Ola said: “We wish to place on record that the picketing was illegal…

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The CEO of the United Bank for Africa(UBA)’s operations in the United States, Sola Yomi-Ajayi, has been appointed to the Export-Import Bank of the United States (US EXIM) Committee on Sub-Saharan Africa for 2020/2021.  Established by the US Congress, the Sub-Saharan Africa Advisory Committee provides guidance and advice regarding US EXIM policies and programmes designed to support the expansion of financing for US manufactured goods and services in Sub-Saharan Africa. The committee is composed of prominent members of the US business community and Ms. Yomi-Ajayi is the sole representative of…

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Polaris Bank has pledged that its Polaris Pearl account will equip women entrepreneurs with the requisite knowledge, skills, and support to run their businesses profitably. The Bank announced that following from its interaction with women across the country, it has discovered that most of them are unable to access finance to either stabilize or scale their businesses mainly because of a lack of awareness on how to leverage bank funding to drive and sustain profit. It notes that this finding is contrary to the popularly, but erroneously held view that unavailability…

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As part of efforts to cushion the effects of the COVID-19 on the education sector, Heritage Bank Plc in partnership with Honourable Fatima Mohammed (FAMO) foundation has provided succour to over 300 affected private school teachers and small medium enterprises (SMEs). The challenges posed by the COVID-19 pandemic, have continued in the shutdown of schools for months leaving the private school teachers without any means of livelihood and no source of income. To this effect, in alleviating the challenges, Heritage Bank and its partner supported over 300 Private School Teachers and small businesses…

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Vice President Yemi Osinbajo has said that one of the ways by which Africa can maximise benefits is to ensure that trade negotiations with the rest of the world is based on the free trade agreement. The Vice President said that the continent should explore the Africa Continental Free Trade Area (AfCFTA) agreement in trade discussions rather than deals separately endorsed by regional economic blocs. Osinbajo’s spokesman, Laolu Akande, in a statement in Abuja, said the vice president delivered a keynote at the 61st annual conference of the Nigerian Economic…

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The Nigerian Stock Exchange (NSE) market capitalisation on Friday improved further by N37bn following price growth in some blue chips. Specifically, the market capitalisation which opened at N13.313trn rose by 0.28 per cent to close at N13.350trn. Also, the NSE All-Share Index appreciated by 70.98 points or 0.28 per cent to close at 25,591.95, against 25,520.97 on Thursday. Stanbic IBTC recorded the highest gain to lead the gainers’ chart, growing by N1.50 to close at N40 per share. Lafarge Africa came second with 60k to close at N12.80, while Flour…

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Oil prices fell for a second day on Friday, pressured by a surprise rise in United States stockpiles as the coronavirus pandemic continues to erode demand for fuels. Brent crude was down 18 cents, or 0.5 per cent at $39.88 a barrel by 0337 GMT, after falling nearly two per cent on Thursday. US crude dropped 14 cents, or 0.4 per cent to $37.16 a barrel, having fallen two per cent in the previous session. Both major benchmarks are down around 6.5 per cent for the week and headed for a…

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