Corporate and Commercial

A firm contracted by the Federal Government for the production of the country’s international passports, Iris Smart Technologies Limited, has attributed the scarcity of passport booklets in Nigeria to the Federal Government’s breach of the production contract it had with it since…

Femi Otedola, billionaire businessman, says he offered to acquire Transcorp Plc for N250 billion and take the company’s market capitalisation to N2 trillion but his bid was rejected. Recently, Otedola acquired a 5.52 percent stake in Transcorp Plc to become the second largest shareholder…

The Securities and Exchange Commission(SEC) has approved and issued a licence to Tro-vest Asset Management Limited to commence full operations as a funds and portfolio manager in the country. Tro-vest Asset Management is a member of Tro-vest Capital Partners; which is a full-fledged…

Standard Chartered has announced the appointment of Olukorede Adenowo (K.O) as the Chief Executive Officer (CEO), Standard Chartered Bank Nigeria Limited. According to a statement yesterday, his appointment as CEO followed his recent appointment as Executive Director, Corporate, Commercial and Institutional Banking business…

INDOFOOD, the producer of indomie noodles, has debunked the claims by the Taiwan and Malaysian governments that one of its product varieties – chicken flavour – contains ethylene oxide (“EtO”), a cancer-causing chemical linked to lymphoma and leukaemia. In a statement on Friday, the company said its products…

Seplat Energy Plc has revealed its plans to initiate a recruitment process for a new board chairman, following the retirement of Mr Basil Omiyi. In a statement, Omiyi announced his retirement as the chairman of Seplat Energy board on Tuesday. He also disclosed the…

Despite a significant sell pressure witnessed in Nigeria’s stock market last week, shares of Transcorp Plc rose 45 per cent after one of the country’s prominent billionaire, Femi Otedola acquired a 5.52 per cent stake in the company. Transcorp had on April 18,…

The management of Transnational Corporation Plc, yesterday faulted media reports that billionaire investor, Mr. Femi Otedola, has acquired 5.52 per cent stake in the publicly traded diversified conglomerate quoted on the Nigerian Exchange Limited (NGX). A top stockbroker had disclosed to press that…

Billionaire businessman, Mr. Femi Otedola has emerged largest single individual shareholder in Transnational Corporation Plc (Transcorp), a publicly traded diversified conglomerate chaired by Mr. Tony Elumelu. A top stockbroker at the Nigerian Exchange Group (NGX), disclosed to press that the billionaire now owns…

The management of FrieslandCampina WAMCO Nigeria Plc, manufacturers of Peak Milk, has apologised to the Christian Association of Nigeria for using the crucifixion of Jesus Christ as a metaphor to promote their product on Good Friday, saying the social media’ advertisement has…