Guinness Nigeria posts N73.6 billion full-year loss amid Tolaram takeover
Guinness Nigeria Plc has reported a pre-tax loss of N73.6 billion for the financial year ended June 30th, 2024, as forex devaluation impacted bottom lines. The company released its full year earnings showing losses continued into its fourth quarter of…
Instagram removes 63,000 sextortion accounts in Nigeria
Instagram owner Meta says it has removed thousands of accounts in Nigeria that were trying to target people in sextortion schemes. Such scammers typically pose as young women online to trick people into sending sexually explicit material before blackmailing them….
FBN Holdings deposits hit N13tn
FBN Holdings’ deposits from customers grew by 24.42 per cent to N13.27tn in the first quarter of 2024 compared to N10.66tn at the end of 2023. This was highlighted as the bank launched its new corporate campaign titled ‘Giants In…
Netflix increases subscription price by 40% in Nigeria
Video streaming platform, Netflix, has once again increased its subscription prices in Nigeria with its Premium Plan going up by 40% to 7,000 from N5,000 per month. The latest price increment makes it the second price adjustment by the platform…
‘Don’t kill Nigeria’s jewel of industrialisation,’ Otedola defends Dangote refinery
Nigerian billionaire Femi Otedola took to his social media platform on Tuesday to express strong support for Aliko Dangote and his massive Dangote Refinery project. Otedola’s post echoed comments from Akinwunmi Adesina, president of the African Development Bank, who argued…
AEDC appoints new Managing Director, Chief Operating Officer
The Abuja Electricity Distribution Company, AEDC, has announced the appointment of Chijioke Okwuokenye as the acting Managing Director, with immediate effect. Adefisayo Akinsanya, Head of Marketing and Corporate Communications at AEDC disclosed this in a statement on Monday. This appointment,…
Petroleum minister hosts crucial meeting with Dangote, NNPC, others
Nigeria’s Minister for State, Petroleum Resources (Oil), Heineken Lokpobiri, on Monday convened a high-level meeting with top executives from Dangote Group, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and the Nigerian…
Ayo Amusan, powerhouse of the highest earning sports brand retail business in Nigeria
Ayo Amusan is the Founder/CEO of Persianas Retail Limited (PRL), a leading retail company and the highest-earning sports brand retailer in Nigeria. PRL is currently the official partner of the PUMA and Lacoste brands in Nigeria, with 13 PUMA, Lacoste,…
Unified Payments as it begins recording POS transactions
Collaborate. That’s a word Agada Apochi, the CEO of Unified Payments (formerly ValuCard), used six times in ten minutes as he talked about his company’s new license. It’s easy to understand why: Unified Payments is a product of collaboration, having…
Transparency Issues Persist As Nigerian Oil Company NNPCL Fails To Release 2023
The NNPCL only released its 2022 financial statements in January 2024 after facing significant pressure. The Petroleum Industry Act mandates that the NNPCL, as a limited company, must undergo financial audits annually, in line with the Companies and Allied Matters…