business

Nestlé Buys Allergan To Expand Business

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Nestlé Buys Allergan To Expand Business

Swiss food giant Nestlé on Monday bulked up its medical nutrition business by buying Allergan’s Zenpep, a product for people whose pancreases do not provide enough enzymes to properly digest fats, proteins and sugars. Financial terms of the transaction were not disclosed. Zenpep had sales of $237 million in 2018, Reuters reports. READ ALSO: https://ekohotblog2.com/2020/01/18/firstedu-loan-first-bank-enhances-educational-sector-with-n10bn/ … Read more

Tokyo Stocks Close Higher As Iran Worries Ease

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Tokyo Stocks Close Higher As Iran Worries Ease

Tokyo stocks closed higher on Friday, extending rallies on Wall Street as worries over US-Iran tensions receded while investors eyed US job data. The benchmark Nikkei 225 index gained 0.47 percent, or 110.70 points, to 23,850.57, While the broader Topix index was up 0.35 percent, or 6.11 points, at 1,735.16. “The Japanese market reacted positively … Read more

See Why Nigerians May Not Have Access To Their Accounts By January 2020

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Recession

Following the Finance Bill currently passed by National Assembly, Nigerians are in for a shock as the amended sections 33, 49 & 58 of the Personal Income Tax Act. Thus, individuals are required to produce their Tax Identification Numbers (TIN) before they can operate existing or new bank accounts in Nigeria. What this means is … Read more

Zenith Bank Holds Its Tech Fair In Victoria Island

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Zenith Bank has supported and sponsored various technology start-ups and innovative ideas at its recent Tech fair. Zenith Tech Fair, which held at the Land Mark Event Centre, Victoria Island Lagos, was themed ‘Future forward’, which showcased leading technology innovations across every aspect of life. Speaking at the event, Jim Ovia, Chairman, Zenith Bank Plc, … Read more

Business Community and Govt Must Work Together To Deliver Projects – Sanwo-Olu

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Coronavirus: LASG Partners Dettol On Handwashing Advocacy

Lagos State governor, Babajide Sanwo-Olu, has underscored the critical role members of the Business Community must play in facilitating the delivery of Government’s programmes and projects to the citizenry. The Governor stated this on Wednesday while delivering a keynote address at a forum organised for members of the Business Community by the Lagos State Public … Read more

Opay Secures $120m Funding To Scale Businesses In Africa

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Lagos-headquartered fintech Opay has sealed $120 million in a series B financing round from a host of high-profile Chinese investors. The funding comes after the Africa-based fintech company raised $50 million earlier this year in June in the Series A investment. This new Series B capital by Asian investors include Meituan-Dianping, GaoRong, Source Code Capital, … Read more

NSE Market Capitalisation Drops Further By N33bn

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Activities on the Nigerian Stock Exchange (NSE) sustained negative trend on Thursday with the market indicators dropping further by 0.26 per cent. Specifically, the All Share Index, which opened at 29,375.25, lost 75.16 points or 0.26 per cent to close at 29,300.09. Also, the market capitalisation of listed equities shed N33 billion or 0.26 per … Read more

Union Bank Shareholders Endorse N54.4bn Share Premium Reduction

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Shareholders of Union Bank of Nigeria (UBN) on Tuesday endorsed the proposed reduction of N54.4 billion from the bank’s share premium account aimed at restructuring its balance sheet for optimal performance. They gave the approval at the bank’s Extra-Ordinary General Meeting (EGM) held in Lagos. The bank’s Chairman, Cyril Odu, said the company’s financial position, … Read more

SEC Suspends Oando Plc’s Annual General Meeting

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Following the ex-parte order of the Federal High Court, Ikoyi Lagos in suit no: FHC/L/CS/910/19, in Mr. Jubril Adewale Tinubu and Anor V Securities and Exchange Commission  (SEC) and Anor, the commission has announced the suspension of Oando Plc’s Annual General Meeting (AGM) slated for Tuesday June 11, 2019 till further notice. According to SEC, … Read more

The Nigerian Economy Is Presently In Need Of Fiscal Direction, others-FSDH

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FSDH

The FSDH Bank Head of Research, Ayodele Akinwunmi, while presenting the monthly economic and financial markets outlook for June in Lagos, at the weekend stated that the nation’s economy is presently in need of fiscal direction, removal of fuel subsidy and transparent channeling of the proceeds to infrastructure and social investments, as well as competitive … Read more

Stanbic IBTC, Nine Others Record N534b Share Deals In Five Months

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stanbic

No fewer than 10 stockbroking companies traded 39.09 billion shares, worth N537.966 billion, representing or 55.31 per cent of the total shares traded on the Nigerian Stock Exchange (NSE) in the first five months of the year. The broker performance report by NSE for January 1, to May 31, 2019, showed that the top 10 … Read more

Emefiele Seeks Stronger Efforts Against Global Shocks

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Mr Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN), on Saturday emphasised the need to strengthen efforts over the coming years to stimulate growth and create jobs in critical sectors to insulate the economy from global shocks. Emefiele said this while giving a welcome address at a consultative roundtable titled, “Going for Growth” … Read more

NGMA Announces N12.4 Billion Profit For 2018

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The Nigerian Gas Marketing Company (NGMC) has announced a profit after tax of N12.476 billion for the year ended December 31, 2018. This was disclosed in a statement issued by the Nigerian National Petroleum Corporation (NNPC) Group General Manager, Group Public Affairs Division, Ndu Ughamadu, in Abuja on Friday. Mr Ughamadu disclosed that the NNPC … Read more

MTN, StarTimes Partner on Special Bundle

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mtn

  StarTimes Nigeria has partnered MTN Nigeria to offer mobile internet subscribers on the network a special data bundle for StarTimes ‘ON’ mobile app. With the video streaming bundles on StarTimes ‘ON’ App, MTN subscribers can now enjoy unlimited entertainment and video on demand (VOD) service at a cheaper data price than any other network … Read more

Oando Posts N28.8 PBT

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  Oando Plc has recorded a N28.8 billion Profit-After-Tax (PAT) in its audited account for the year ended December 31 , 2018, representing a 46 percent increase from the N19.8 billion recorded in 2017. A review of Oando’s results shows positive performance across most of its financial indices; reaffirming the company’s concerted efforts and commitment … Read more

FMDQ Lists Access Bank’s N15bn Green Bonds

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Access Bank

  FMDQ OTC Securities Exchange, yesterday, admitted Access Bank Plc’s N15 billion green bonds for trading on its platform. The five-year, 15.5 percent, Fixed Rate Senior Unsecured Green Bond due 2024, is the pioneer climate bonds standard certified corporate green bond issued in Africa. The proceeds from the issuance will be used to finance/re-finance eligible … Read more

Insurance Companies Have till July 31 to Submit Financial Reports to NSE

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  The Nigerian Stock Exchange(NSE) has extended the deadline for quoted insurance companies to submit their 2018 financial results, following their transition to the International Financial Reporting Standard, IFRS 9. This gives the insurance companies till July 31 to submit their results against the statutory time frame of June 30 every year. The extension came … Read more

NNPC, Chevron Sign Gas Agreement With Dangote

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Dangote

The Nigerian National Petroleum Corporation, NNPC, and Chevron Nigeria Limited, CNL, have signed a gas sale and aggregation agreement GSAA, with Dangote Fertiliser Limited, DFL, with Gas Aggregation Company of Nigeria Limited as aggregator. NNPC and CNL are obligated to supply 70mmScf/d of natural gas to Dangote Fertiliser to start up the newly-built fertiliser plant. … Read more

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