Citigroup names Ayeyemi chief of sub-Saharan Africa division
Citigroup Incorporated, the United States lender with a presence in 16 African countries, has appointed Ade Ayeyemi as Chief Executive Officer for sub-Saharan Africa. Ayeyemi, who was head of...
View ArticleForeign investors eye stakes in Unity Bank
Foreign and local investors may buy stake in Nigeria’s Unity Bank Plc, which is currently seeking to expand its share of the country’s lucrative retail banking sector, investigation by our...
View ArticleFord introduces Vignale
Ford of Europe has announced plans to introduce Vignale, which it describes as an exclusive product with ownership experience. It stated in a statement on Tuesday that Ford’s initial vision for...
View ArticleNDIC calls for gender equality in recruitment
The Nigeria Deposit Insurance Corporation has urged companies and organisations to ensure gender equality during their recruitment period. The Executive Director of the corporation, Mrs. Omolola...
View ArticleUS consumer prices rose 0.1% in August
United States consumer prices barely rose last month, the latest sign that slow economic growth is keeping inflation tame, The Associated Press reported on Tuesday. The consumer price index increased...
View ArticleOando shares decline by 10% after Ibori link
The shares of Oando Plc fell by 10 per cent or N1.15 to N10.35 on the Nigerian Stock Exchange on Tuesday, a day after a British prosecutor claimed that jailed former governor of Delta State, Mr. James...
View ArticleFirm expects slower holiday growth in 2013
Coming off of a weak back-to-school shopping period, a research firm expects holiday sales growth will be slower this year during the crucial holiday season. Shoppers are also expected to visit fewer...
View ArticleJAC vehicles survive 90-day Nigerian road test
With about 30 days to complete a four-month test drive experience on Nigerian road, the JAC brand of vehicles may have passed the first three month assessment going by the verdict of the drivers...
View ArticleCommunities plead with LASG over abandoned road projects
The residents of Badia communities in Ijora, Apapa-Iganmu Local Council Development Area of Lagos State, have appealed to the Lagos State Government to help complete certain road projects reportedly...
View ArticleRichbon set to inaugurate XGMA equipment
Richbon Nigeria Limited, an automobile and construction equipment company, is set to inaugurate XGMA construction equipment in Nigeria. The company, which has its head office in Lagos, said XGMA brand...
View ArticleAfrican, ME carriers eye Nigeria’s travel market
As part of their strategies to increase their presence in Nigeria’s travel market, airlines from African and Middle East are planning to attend Akwaaba Travel Market, a travel expo in the country, next...
View ArticlePhilips lifts targets, to return $2bn to shareholders
Philips raised most of its financial targets and announced plans to return ¤1.5bn ($2bn) to shareholders, saying it would reap the benefits of a two-year revamp to focus on healthcare, lighting and...
View ArticleReserved bidder sues BPE, NCP over Enugu Disco
Eastern Electric, the reserve bidder for the Enugu Electricity Distribution Company, has sued the Bureau of Public Enterprises and the National Council on Privatisation to enforce its right to acquire...
View ArticleIbori claimed 30% ownership of Oando – British prosecutor
Jailed former Delta State Governor, James Ibori, told a Swiss private bank in 2004 that he owned 30 per cent of oil firm, Oando Plc, which allegedly paid $1.2m into his account that year, a prosecutor...
View ArticleOil exports declined by 11% in Q2 – NBS
The country’s oil exports declined at a slower pace in the second quarter compared with the previous three months, according to the National Bureau of Statistics. Crude shipments fell by 11 per cent to...
View ArticleTambuwal decries low capital budget implementation
The Speaker of the House of Representatives, Aminu Tambuwal, on Thursday in Abuja decried the low implementation level of the capital component of the 2013 budget. Tambuwal, who made the remark in an...
View ArticleBrass LNG suffers another setback
Brass LNG Limited, the two-train, 10 million-metric tonne per year project, has again suffered a setback as Oando Plc has terminated the purchase agreement it had with ConocoPhillips. The Final...
View Article2014 budget: Senate receives MTEF from Jonathan
Hopes of an early passage of the 2014 budget brightened on Tuesday with the presentation of the Medium-Term Expenditure Framework and Fiscal Strategy Paper to the Senate by President Goodluck...
View ArticleSiemens names new CFO
MUNICH: German engineering conglomerate Siemens named insider Ralf Thomas as its new finance chief in a management reshuffle on Wednesday, replacing Joe Kaeser who was promoted to the chief executive’s...
View ArticleOil dominates €5.7bn Nigeria, France trade – Ambassador
The trade between Nigeria and France in the past one year is worth €5.7bn, the French Ambassador to Nigeria, Mr. Jacques Champagne de Labriole, has said. Of the €5.7bn, the ambassador explained that...
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