Category: Business

First Bank Plc has launched a WhatsApp application to make banking more convenient for its 12.5 million customers. The FirstBank Chat Banking on WhatsApp was launched at the bank’s Digital Lab, Yaba, Lagos. The bank’s Managing Director, Dr Adesola Adeduntan, said at the launch that, as a leading banking services provider, First bank was determined to offer satisfactory financial services to customers by devising ways of effectively meeting their needs. He said that the bank had optimised digital banking for convenience. “Since we have 12.5 million customers with 20 billion…

Management of Dangote Cement, over the weekend, assured block- moulders and other stakeholders in the building construction business of the durability and the extra power its new product: “BlocMaster” possessed. The new product is described as the  best quality cement in the country for now. The company also said the new product is available everywhere and very affordable. Speaking after the product’s unveiling in Benin and Asaba respectively said: Managing Director and Chief executive of the company, Eng. Joe Makoju, who was represented by the company’s National Sales Director, Adeyemi…

The Nigerian National Petroleum Corporation (NNPC) in defence of its action said  it transferred the sum of N128.40bn into the federation account in August, 2018. The Corporation said in its monthly Financial and Operational report released in Abuja said that between August 2017 and August 2018, the federation and joint ventures (JV) received the sum of N879.02bn and N651.4bn respectively. The report said the Federation Crude Oil and Gas Revenue, Federation Crude Oil and Gas lifting, were classified into Equity Export and Domestic crude. It explained that this crude were…

The Nigerian Institute of Animal Science, (NIAS) on Tuesday said that the Federal Government would not condone any attempt by animal’s feeds companies to compromise production standard because of the negative effect it would have on public health. The institute’s Head of Inspectorate Department, Mr Olufemi Atunbi, said government policy was very clear on production quality and standards; as such the companies must adhere strictly to it in line with best global practice. Atunbi who led a team of inspectors to Olam Grains Mill and Hybrid Feeds companies in Kaduna, said…

…..Sets Aside 10 Per cent For Workers Skyway Aviation Handling Company Plc (SAHCO) on Monday announced plans to raise N1.9bn in an Initial Public Offer (IPO). Chairman of the company, Dr Taiwo Afolabi, explained at the event in Lagos that the IPO was being undertaken based on terms of the executed Share Sales and Purchase Agreement (SSPA) that was sealed over the privatisation of the former Skypower. He said that under the terms of the SSPA, the shareholders of the company are required to divest 49 per cent equity stake in…

In a bid to further encourage payments on its Point of Sale Terminal (PoS) terminals , Pan African Financial services group, United Bank for Africa(UBA)  has announced that it will be rewarding 25 lucky customers with N100,000 each, when they make payments with their UBA cards on UBA POS terminals at any merchant location.  The promo which is scheduled to run till December 31, 2018, will see a total of 25 people become N100,000 richer, just by paying on UBA POS terminals at any merchant location across Nigeria.  After repeated…

 …Counsels Africa on Risk Assessment of Chinese Initiative The Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside, has said that the Chinese Belt and Road Initiative (BRI), also known as the Silk Road Economic Belt and the 21st-century Maritime Silk Road, will be a game changer for global transport and substantially affect the pattern of global commerce. Dakuku stated this in Dubai during the Dubai Maritime Summit 2018, which was part of the events at the five-day UAE Maritime Week 2018 that ended on November…

The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) Dr. Dakuku Peterside has stated that the Agency will enforce strict compliance to the International Maritime Organisation regulation which puts a maximum of 0.5%  sulphur cap  on all fuel used by vessels  by the year 2020. Speaking during an interactive session with journalists at the ongoing maritime week in Dubai, Dakuku  said that part of the requirements adopted at the 73rd meeting of the  Marine Environment Protection Committee (MEPC) of the United Nations maritime organ was to reduce the sulphur content permitted…

Economists and Industry stakeholders have lamented the food companies’ prevailing unfavourable operating climate and called for urgent need for the Federal Government to address the constraints and challenges facing the Fast Moving Consumer Goods (FMCGs) sector in the country. Such steps they reasoned would boost the economy and bring about improvement in the ease of doing business in the country. Speaking on the Business Morning programme of the Channels Television Network yesterday, the Chairman of Financial Derivatives Company Limited, Mr. Bismarck Rewane, in response to a question, listed some bottlenecks…

The Minister of Information and Culture, Alhaji Lai Mohammed, has said the Federal Government is implementing critical reforms and privatization in key sectors of the economy to address the abysmal failure of public enterprises and halt the drain on the treasury.   The Minister, who is the Chairman of the Stakeholders’ Engagement Committee of the National Council on Privatization (NCP), stated this in Lagos on Monday, at a Stakeholders’ Media Interactive Forum on the privatization programme of the Federal Government.   He said despite the massive investments of about $100bn…