In a gesture of tribute, Aliko Dangote, the Chairman and CEO of Dangote Group, has chosen to name the thoroughfare leading to his Lagos refinery after the late Herbert Wigwe. The decision comes after reports emerged in February of the tragic passing of the Chief Executive Officer of Access Holdings,Continue Reading
The head of the World Trade Organization warned on Monday that war, uncertainty and instability are weighing down the global economy and urged the bloc to embrace reform as elections across nearly half the world’s population could bring new challenges. WTO Director-General Ngozi Okonjo-Iweala sought to offer some praise forContinue Reading
Hong Kong and Shanghai stocks surged Wednesday following Beijing’s latest measures to bolster the slowing economy, but declines on Wall Street weighed on other Asian markets. China’s central bank rate-cut on Tuesday is among measures intended to rally dwindling growth as the world’s second-largest economy grapples with a prolonged property-sectorContinue Reading
Access Holdings PLC has officially announced the passing of its Group Chief Executive Officer (CEO), Herbert Wigwe. Wigwe lost his life in a helicopter crash on Friday, alongside his wife, son, and a former Group Chairman of the Nigerian Exchange Group Plc, Abimbola Ogunbanjo. The bank, through a statement onContinue Reading
The Nigerian Communications Commission has confirmed that the interconnect debt dispute between MTN Nigeria Communications Plc and Globacom Limited has been resolved. In a statement released on Thursday, NCC’s spokesman, Reuben Muoka, affirmed that the disconnection approval given to MTN for the disconnection of Globacom has been revoked. “The NigerianContinue Reading
The Senate’s Committee on Banking, Insurance, and other Financial Institutions has issued a summons to the Governor of the Central Bank of Nigeria, Olayemi Cardoso, requesting his appearance before the Committee next Tuesday. The decision comes amidst significant concerns about the state of the economy and the abrupt decline ofContinue Reading
The newest oil refinery in Nigeria, Dangote Petroleum Refinery, has expressed interest in buying two million barrels of crude from the United States of America in a move highlighting the damage and degree to which coordinated oil theft has rendered the oil-producing nation incapable of catering to its citizens’ crudeContinue Reading
The Central Bank of Nigeria has ousted the entire Board of Directors of Polaris, Titan, Union, and Keystone Banks with immediate effect. According to CBN sources, this decision was reached during a meeting led by the apex bank’s governor, Yemi Cardoso, on Wednesday in Abuja. Speaking on condition of anonymity,Continue Reading
The Presidency has expressed support for the Central Bank of Nigeria’s (CBN) plan to raise the capital base of deposit money banks in the country. President Bola Tinubu, delivering a goodwill message at The Guardian Newspapers’ 40th-anniversary event in Lagos on Tuesday, emphasized the importance of bank recapitalization in achievingContinue Reading
Japanese industrial giant Toshiba marked the conclusion of an era as a publicly listed company on Thursday, announcing that an independent consortium had acquired nearly 80 percent of its shares. Remaining shareholders will undergo a “squeeze-out” process following the $13.5-billion tender offer, leading to the delisting of Toshiba shares afterContinue Reading
