All posts by BusinessNews Staff

• ValuCard Nigeria appoints Agada Apochi as MD/CEO and Bisi Onasanya as Chairman

  The Board of ValuCard Nigeria Limted has appointed Mr. Agada Apochi as Managing Director/Chief Executive Officer and Mr. Bisi Onasanya, Group MD/CEO, First Bank of Nigeria (FBN) as Chairman. Mr. Onasanya takes over as from Philips Oduoza,...

  • Posted September 22, 2011
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  Sterling Bank offering ETB and AMCON shareholders 20 percent

  Nigeria’s Sterling Bank said on Thursday it will issue 3 billion new shares to acquire privately-held Equitorial Trust Bank, paving the way for the rescued lender to recapitalize ahead of a central bank September deadline. Sterling’s Chief...

  • Posted September 22, 2011
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• Lafarge Cement to issue 50 bln naira bond

  Lafarge Cement Wapco , the Nigerian unit of the world’s biggest cement maker Lafarge , plans to issue a 50 billion naira ($318 million) bond to refinance loans it took to construct a factory aimed at doubling...

  • Posted September 22, 2011
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  AFRECO plans N7 billion manganese plant in Nigeria

  Japanese conglomerate, African Economy and Development (AFRECO), plans to establish a N7 billion manganese plant in Nigeria. Manganese is a metal with important industrial metal alloy uses, particularly in stainless steels. AFRECO President Testsuro Yano announced this on...

  • Posted September 21, 2011
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  ValuCard Nigeria granted Payment Terminal Service Provider License

  ValuCard Nigeria Limited has been granted license by the Central Bank of Nigeria, CBN, to operate as Payment Terminal Service Provider, PTSP in Nigeria. By this development, the company said in a statement, that it is now...

  • Posted September 21, 2011
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  Nigeria’s cocoa production will double in the next four years – Agric Minister

  Nigeria’s cocoa production will double in the next four years, while wheat and rice imports are set to fall as Africa’s most populous nation strives to be more food self-sufficient, the country’s agriculture minister told Reuters. Nigeria,...

  • Posted September 21, 2011
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  GTBank Now Let’s You Do Instant Online Payments To Other Banks.

  GTBank now let’s you do instant online payments to other banks, as part of the  banks’ effort to make online payment easy and seamless. “This new service enables you transfer funds from your Guaranty Trust Bank account...

  • Posted September 21, 2011
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  FG to sell 70 pct stake in power distribution companies

  Nigeria Federal Goverment  plans to sell a 70 percent stake in eleven power distribution companies to new investors as part of a multi-billion dollar privatisation of its electricity sector, the Bureau of Public Enterprises said on Tuesday....

  • Posted September 20, 2011
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  Transcorp Announces New Board Appointments

  Transnational Corporation of Nigeria Plc (Transcorp) announced a number of board changes to strengthen its governance following the appointment of Tony O. Elumelu, MFR, as Chairman at the Group’s annual general meeting held in Abuja last week....

  • Posted September 20, 2011
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• Nigeria bond prices hold up post lending rate hike

  Nigeria’s bond prices held mostly steady on Tuesday when thinning liquidity for short-term paper at the government auction drove investors to take positions at the secondary market, forcing yields down, dealers said. Nigeria’s central bank monetary policy...

  • Posted September 20, 2011
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