archiveAugust 2017

The management of Skye Bank Plc has written to Acting President Yemi Osinbajo, detailing how Tunde Ayeni, chairman of the bank between 2010 and 2016, allegedly wrecked the financial institution. In a series of letters and documents seen by TheCable, the management listed details of how Ayeni allegedly used his...

*Seeks greater synergy between FG and state governments in delivering democracy dividends Acting President Yemi Osinbajo, SAN, has assured Nigerians that the All Progressives Congress (APC) led Federal Government will surely deliver on its promises to Nigerians despite numerous challenges facing the economy and the country. Speaking earlier Tuesday in...

• Dangote sells 416 mln Dangote Cement shares to foreign buyers • Dangote Cement working to boost minimum share float - source • The cement maker plans to double size of African plant by Nigeria's Dangote Industries Limited sold a 2.3 per cent stake in Dangote Cement to foreign investors...

Unilever Nigeria has scaled back the amount it plans to raise from shareholders via a rights issue to 58.85 billion naira ($162 million). The household products maker, majority owned by Unilever , had planned to raise 63 billion naira through a rights issue and said in April it would ask...

The bulls have staged a comeback on the Nigerian Stock Exchange after they were displaced on Monday by the bears as the market All Share Index (NSE ASI) and the Market Capitalization increased by 2.45 per cent on Tuesday even as the year-to-date return on the NSE stood at 36.64...

The Central Bank of Nigeria (CBN) has said Manufacturing Purchasing Managers’ Index (PMI) increased by 1.2 basis points to 54.1 index points in July from 52.9 index points recorded in June. According to CBN, the increase in Manufacturing PMI, indicates expansion in the manufacturing sector for the fourth consecutive month....

Keystone Bank Limited has launched its quick service code, Unstructured Supplementary Service Data (USSD) *533# to enable its customers enjoy convenient banking from anywhere atany time of the day. Acting Managing Director/CEO of the Bank, Mr. Hafiz Bakare stated this at the media launch of the product on Monday at...

African Development Bank (AfDB) has warned African countries that the current economic gains they are recording can be fragile. AfDB President, Dr Akinwunmi Adesina who gave the warning on Tuesday in Abuja at a one-day symposium on Nigeria Technical Cooperation Fund (NTCF): A Reference point for Africa’s sustainable development and...

Plateau State governor, Simon Lalong, has described as mischievous reports by the opposition that he had taken fresh loans to finance road projects. He said contrary to insinuations, the N10 billion loan in question was not fresh but was taken in 2016 "and so should be disregarded forthwith." Lalong in...

No fewer than 2, 673 people died in road accidents in Nigeria in the last six months, according to National Bureau of Statistics (NBS). The NBS Road Transport Data for first and second quarters of the year posted on its website on Tuesday, shows that 1, 466 died in the...