Business News

Lagos organises wealth creating summit

L-R: Deputy Governor of Lagos State, Dr. (Mrs.) Oluranti Adebule; Chairman, Lagos State House of Assembly Committee on Wealth Creation, Hon. Sola Giwa; Economic Adviser to the President, Dr. Yemi Dipeolu

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Operators urge FG to address forex constraints facing domestic carriers

By Abimbola Fashakin, Lagos  Airline Operators of Nigeria (AON) has called on President Muhammadu Buhari to urgently intervene in addressing the failure to make foreign exchange available for indigenous airlines to avoid any threat to air safety as well as avoidance of collapse to the air transportation system. 

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Nigeria stock market firms up in May, as trading hits 7.52bn shares

By Abimbola Fashakin, Lagos Market capitalisation of the Nigerian Stock Exchange appreciated by N880 billion in the outgone month of May as value of shares held by investors in the various companies rose by that amount.

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Hassan Usman now Jaiz Bank substantive MD

Jaiz Bank Plc yesterday announced the appointment of Hassan Usman as its substantive managing director. He is to run the affairs of the bank subject to the approval of Central Bank of Nigeria (CBN).

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Economy: FG delegation to meet bond investors in London next week

By Abimbola Fashakin, Lagos with agency reports Indications have emerged suggesting that a delegation of the Federal Government is set to meet with bond investors in London next week in what experts consider as a move to shore up the nation’s financial base needed for financing the series of infrastructure developments in the country.

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Diamond Bank explains sack of 200 workers

By Abimbola Fashakin, Lagos The management of Diamond Bank has justified its decision for sacking 200 of its members of staff last Friday.  In a statement issued on Wednesday obtained by BLACKFACE, the bank stated that move was in line with its strategic plan to drive shareholders’ value.

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Power: Nigeria loses N2b as reserve records zero generation

By Abimbola Fashakin, Lagos  The Nigerian Electricity Supply Industry (NESI) on Tuesday recorded zero Mega Watts in the nation’s spinning reserve. 

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Hope rises as ALSCON set to begin production

 

By Abimbola Fashakin, Lagos

 

Baring any unforseen circumstances, the Aluminium Smelter Company of Nigeria (ALSCON) in Ikot Abasi, Akwa Ibom State is set to commence production any time from now.

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Medview partners Air Atlanta on aircraft acquisition

 By Abimbola Fashakin, Lagos

 

A local aviation player, Medview Airline has signed an agreement with Air Atlanta of Iceland for the acquisition of a Boeing 747 -400.

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2010 accounts of some insurers still undisclosed, says NAICOM

By Abimbola Fashakin 

In spite of the fact that they transact businesses, three insurance firms have resolved to keep their financial status in secrecy, flouting the law which mandates them to submit their accounts at the end of each financial year to the industry regulator for approval.

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