OTHER BUSINESSES

With the Risk Based Supervision (RBS) expected to commence in insurance industry, Royal Exchange Plc said it is planning to recapitalise in a bid to have the required capital structure for bigger ticket risks. Group Managing Director (GMD) of the company, Mr. Auwalu Muktari, who stated this in Lagos, over...

Nigerian National Petroleum Corporation (NNPC) on Tuesday ruled out possibility of imminent increase in the pump price of Premium Motor Spirit (PMS). There are online reports suggesting that the Federal Government will soon increase the price which was increased in May from N86 to N145 per litre. But speaking, at...

Paul Pogba has completed his return to Manchester United from Juventus for £90 million, making him the world's most expensive footballer. Manchester United announced his signing from Juventus. According to Yahoo News, the France international has agreed a five-year deal to move back to Old Trafford, with the option to...

  Employment in oil and gas down by 26% worldwide The Organisation of Petroleum Exporting Countries (OPEC) has expressed the hope that oil prices will rise in September through December, following expectations of higher oil demand. OPEC president, Mohammad Al-Sada, who made the projection, yesterday, also disclosed that an informal...

Dangote Industries Limited has said that it will begin the onstruction of concrete roads in various states across the country, especially in Lagos, Bauchi, Kogi, Kaduna and Ogun states. The company says, “We are very happy at the moment. We can categorically state that we are in more than five...

United Bank for Africa (UBA) Plc recently organized sent forth ceremony for its former Group Managing Director, Mr. Phillips Oduoza and two retired Executive Directors; Mr. Femi Olayoku and Ms. Obi Ibekwe in Lagos. The event which held in the presence of stakeholders including; customers,  shareholders, Board of Directors, staff...

The Executive Secretary, Nigerian Shippers’ Council (NSC) Hassan Bello has called on stakeholders to support port automation system to enhance efficiency at the seaports. Bello made the call in Lagos when he led management staff of the Council on a courtesy visit to the Lagos Chamber of Commerce and Industry...

   Cuts interim dividend by almost 50 percent Feels effects of Nigerian fine (Adds details) Africa's biggest mobile phone operator MTN Group Ltd cut investor payouts by almost 50 percent as it reported its first-ever half-yearly loss after taking a hit from a hefty regulatory fine in Nigeria. MTN agreed...

The Association of Nigerian Licensed Customs Agents (ANLCA) has threatened to shut down the nation’s ports over 43 per cent hike in customs duty. President of the association, Alhaji Olayiwola Shittu, said this on Thursday in Lagos. Shittu noted that the association condemned in totality the monetary policy that led...

Transnational Corporation of Nigeria has suspended plans to build one of the nation’s biggest power plants as a local gas shortage makes it difficult to obtain fuel and a downturn in Africa’s largest economy hinders efforts to raise funds for the project. According to Bloomberg report monitored by Business247 News...