Corporate and Commercial

Geregu Power Plc, a power company primarily engaged in the generation and sale of electric power in Nigeria, has announced its successful issuance of a N40.085 billion Senior Unsecured Bonds under its N100 billion multi-instrument issuance programme. The transaction, which represents Geregu’s debut…

The global chief executive officer of Open Government Partnership (OGP) Sanjay Pradian has said Nigeria can save over $15 billion annually in illicit financial flows if it eliminates anonymous ownership of companies through the implementation of the “Beneficial Ownership Register” by the…

The non-payment of the 20 per cent federal government counterpart funding for the $470 million Greater Abuja Water Project five years after it was conceptualised had allegedly stalled its completion. The federal government had yet to release its 20 per cent counterpart fund…

Premium Breadmakers Association of Nigeria (PBAN), said bakeries and bread outlets would shut down nationwide for four days in a warning strike starting today over the rising cost of materials. President of the Association, Emmanuel Onuorah and Public & Industrial Relations Officer, Babalola…

Nigeria’s inflation rate increased to 18.60 per cent in June, up from 17.71 per cent in the previous month, the National Bureau of Statistics (NBS) said on Friday. The new rate is 0.84 per cent points higher compared to the rate recorded…

Nigeria’s “appetite” for Eurobonds has stoked controversy between the manager of the nation’s debts and the Monetary Policy Committee of the Central Bank of Nigeria (CBN). Details of the members’ comments at the May 2022 meeting of the MPC have shown that some…

Dangote Cement Plc says it has signed a five-year community development agreement (CDA) with its Ibese plant host communities in Lagos. Azad Nawabuddin, Ibese plant director, Dangote Cement, disclosed this on Thursday in a statement signed by Francis Awowole-Browne, media and communication relations…

The National Council on Privatisation (NCP) has explained that the Board composition of Benin Electricity Distribution Company (BEDC) and the other four DisCos was concluded three days before the Federal High Court issued an interim order. The explanation came after the NCP’s…

Four electricity Distribution Companies (DisCos) are to be managed by new boards following their takeover by banks and the Assets Management Corporation of Nigeria (AMCON). They are Kano, Benin, Kaduna and Ibadan DisCos. Fidelity and AFREXIM banks, which collateralized the shares of Kano, Benin…

The Federal Inland Revenue Service (FIRS) has bowed to pressure from companies and agreed to extend the deadline for the filing of Company Income Tax (CIT) returns to August 31, 2022. The extension of this deadline is contained in a statement by the…