OTHER BUSINESSES

The Lagos State Government has paid  N891 million  to 324 retirees from the sainstream civil service, local governments, State Universal Basic Education and other parastatals of government for the month of July, 2016. A statement from the Lagos State Pension Commission (LASPEC), and made available to Business247 News Online stated...

As the effect of global economic challenges in the oil & gas sector persist, Oando Plc has announced a loss of N26.99 billion in half year ended June 30, 2016. The Nigeria’s leading indigenous energy group listed on both the Nigerian and Johannesburg Stock Exchanges, profit dropped by 23 per...

Towards the advancement of the economy, Fidelity Bank Plc, in partnership with the Nigerian Export Promotion Council (NEPC) has formally inaugurated the Zero2Export project. Specifically designed to provide valuable insights into all processes and structures required to engage in non-oil export business, Zero2Export is a novel capacity-building programme targeted at...

Nigeria’s Mohammad Sanusi Barkindo assumed office today in his role as Secretary General of the Organisation of the Petroleum Exporting Countries (OPEC) at the OPEC Secretariat in Vienna, Austria. Barkindo was officially appointed to the post for a three-year term at OPEC’s 169th Meeting of the Conference on 2 June...

  Net loss rises to $61 million as Forcados remains shut Working Interest gas production up y/y Alternative crude evacuation route gathering some momentum 41k-48k boed production no longer feasible; Vetiva estimate 27k boed Earnings revised lower, TP cut to N216.15 (Prev: N264.77) Seplat reported wider losses in first half...

How to create robust pension benefits for retirees would be the focus in the 2015 Nigerian Insurance and Pension (Inspen) Awards. A statement by the Chief Executive Office Inspen Media, Chuks Udo Okonta, and made available to Business247 News Online said experts drawn from insurance and pension sectors would be...

Continental Reinsurance Plc has reported a Profit Before Tax (PBT) of N2.92billion in its 2015 financial year, up from N1.59 billion the previous year, an increase of 84%. A statement from the firm and made available to Business247 News Online added that its gross premium income was N19.7 billion, up...

  Names Citigroup, Standard Bank as listing advisers The most awaited listing of the nation’s leading mobile telecommunications company, MTN, on the Nigerian Stock Exchange (NSE) has began to crystallise as the company has said that the listing would be done in 2017. Taking some concrete steps towards this, MTN...

The Nigerian National Petroleum Corporation (NNPC) has said that Nigeria’s oil production is now 700,000 barrels per day (bpd) lower as a result of persistent militant attacks on oil pipelines and infrastructure. With average production usually around 2.2 million bpd, meaning that Nigeria’s oil production currently stands at 1.5 million...

Shareholders of insurance firms across the country are unhappy that their companies continue to pay monetary fines running into several millions of Naira, on yearly basis, to the regulators for violating account submission deadline or other infractions, even, when it is obvious the affected companies have yet to declare dividend...