All posts by BusinessNews Staff

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  Oceanic Bank Shareholders Approves ETI merger

  Shareholders of rescued Nigeria’s Oceanic Bank on Tuesday approved the planned merger with pan-African banking group Ecobank Transnational Incoporated. At a court-ordered meeting, the shareholders consented to all the proposal brought before them by the board of...

  • Posted September 27, 2011
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  Aero airline introduces special independence promotional fare of N10,000

  Aero  airline is  introducing a special independence promotional fare of N10,000 for economy cabin, and N26,000 for business class cabin to all major Nigerian destinations. The airline said the  Business and leisure travelers can take advantage of...

  • Posted September 27, 2011
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• Partnership Investment company records N1.6b gross earnings in 2010

  FOR the year ended December 31, 2010, Partnership Investment Company Plc recorded gross earnings of N1.6 billion, up by 161 per cent over the N598.6 million it posted in 2009. The company explained recently during its 2010...

  • Posted September 27, 2011
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  Onitsha port to be inaugurated in November – Idris Umar

  The Minister of Transport, Idris Umar, has assured that the Onitsha port would be inaugurated in November. Umar gave the assurance at the end of his inspection of port projects in Baro in Niger, Onitsha in Anambra...

  • Posted September 26, 2011
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• Nigerian Baptist Convention Commissions Bowen Microfinance Bank Limited

  Nigerian Baptist Convention (NBC) has commissioned Bowen Microfinance Bank Limited. Speaking at the formal opening in Obanikoro, Lagos, the Managing Director of the bank, Mrs. Adebimpe Ogunleye, disclosed that although the poor will always be in the...

  • Posted September 26, 2011
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• Lafarge Cement N50 billion bond issuance to save Shareholders N10 billion in three years

  Project refinancing initiatives embarked upon by Lafarge Cement WAPCO Plc are expected to save the company and its shareholders N12 billion. The company explained at the weekend that its N50 billion bond issuance was expected to save...

  • Posted September 26, 2011
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  Here Are The Winners of the African Banker Awards 2011

  Almost 300 guests were in attendance at the African Banker Awards 2011 that took place on the 23rd of September. Now in its fifth year running, the African Banker Awards was one of the biggest events pertaining...

  • Posted September 25, 2011
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  Reps to investigate NNPC’s remittances to Federation Account

  The House of Representatives yesterday adopted a motion mandating its joint Committee on Finance,  Petroleum Resources  (Upstream and Downstream) and Gas Resources, to investigate how the Nigerian National Corporation (NNPC)  has been remitting revenue into the Federation Account....

  • Posted September 23, 2011
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  OPIC Board Approves $250 Million in Financing for Union Bank

  The Board of Directors of the Overseas Private Investment Corporation (OPIC), the U.S. Government’s development finance institution, today approved $250 million in financing for two American firms helping to revitalize a major Nigerian bank, a project that...

  • Posted September 23, 2011
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  Shell has no plan to invest in oil refining in Nigeria – Mike Mullier

  The Anglo-Dutch oil giant, Shell, said it has no plan to invest in oil refining in Nigeria. The Global Leader Crude Trading, Shell Trading, an arm of Shell Group, Mr Mike Mullier, diclosed this while fielding questions...

  • Posted September 22, 2011
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