Corporate and Commercial

MABISCO Shuts Down Operations, Puts Plant Up for Sale

Owners of an indigenous biscuits company in Nigeria, Mayor Biscuits Company Limited (MABISCO), has stated that they have shut down the company and would be selling the multi-million-dollar biscuits plant. It will reinvest the proceeds into a new line of business, it…

18/10/2023 0Comments

BUA Begins Sale Of Cement At N3,500 Per Bag On Monday

BUA Cement Plc has reviewed the timeline for the implementation of its reduced ex-factory price of N3,500 per bag, saying Nigerians can begin to enjoy the benefits of the price reduction before the completion of its plants. The company’s management, in a…

02/10/2023 0Comments

MasterCard Gets Stake in MTN’s $5.2 Billion Fintech Business

MTN has agreed on a deal to sell a stake in its fintech business to Mastercard for an undisclosed sum, in line with the operator’s long-term goal of raising cash from asset sales and its financial services platform. In its H1 earnings announcement,…

15/08/2023 0Comments

Otudeko Kicks As First Bank Holdings Goes For Otedola As Director

First Bank of Nigeria Holdings Plc (FBNH) has insisted on electing Femi Otedola, its former highest single shareholder as a director despite opposition from other shareholders. Advertisement FBNH has also amended the agenda of its disputed Annual General Meeting (AGM) to include the raising…

10/08/2023 0Comments

NB Announces Price Increase on All Products

Nigerian Breweries (NB PLC) has taken a significant step that is set to impact beer lovers across the nation, as they announce a price increase on all their products effective August 10, 2023. The company cited the need to review prices due to…

04/08/2023 0Comments

Seplat Admits Spending $19.4m To Defend CEO In Court Against Nigerian Minority Shareholders

The legal battle between Seplat Energy PLC and its Nigerian minority shareholders may have forced the company to spend at least $19.4m on professional fees to defend its Chief Executive Officer, Roger Brown. Adding to Seplat’s injury is the naira depreciation resulting from the floating of…

29/07/2023 0Comments

Airtel Loses $151m to Nigeria’s FX Rates Harmonisation

Airtel Africa Plc on Thursday reported that it lost $151m due to the harmonisation of the foreign exchange rates in Nigeria. This was disclosed in its second quarter report filed with the Nigerian Exchange Limited. The telecom company said, “Profit after tax was negative…

27/07/2023 0Comments

CAC Unveils Ownership Register Of Companies

The Corporate Affairs Commission (CAC) has launched the Beneficial Ownership Register, an open data document that contains the names of persons with significant control of companies. Speaking at the unveiling in Abuja yesterday, the Registrar General of the CAC, Alhaji Garba Abubakar, said…

26/05/2023 0Comments

CAC Committed to Service Delivery — Registrar-General

The Corporate Affairs Corporation has reiterated its management and staff commitment to ensuring speedy service delivery to clients. Alhaji Garba Abubakar, CAC’s Registrar-General, in an interview with newsmen in Abuja, said the commission was ensuring this digitally through its unique portal. “There is no…

23/05/2023 0Comments

Consumer Rights Project Ask FG to Stop GSK’s Insider Dealings

The Consumer Rights Project, a Nigerian Think Tank on Consumer Rights and Local Content Development has deprecated the attempt by the promoters of GSK International, operating in Nigeria, to cripple its Nigerian Business at the detriment of Nigerian Shareholders. They have noticed…

17/05/2023 0Comments

Corporate and Commercial

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