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All posts by BusinessNews Staff

  • Stanbic IBTC Asset rewards mutual funds investors

    Stanbic IBTC Asset Management Limited (SIAML) has assured stakeholders that strict adherence to the code of good governance, will remain pivotal to its operations. Chairman of SIAML, Mr. Yinka Sanni made the pledge while declaring dividends for...

    • Posted September 16, 2011
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  • Tony Elumelu appointed as new Chairman for Transcorp

    Mr. Tony Elumelu, the immediate past Group Managing Director of the United Bank for Africa (UBA),  yesterday emerged as the new Chairman of Transnational Corporation of Nigeria Plc. He was appointed by the shareholders of the company at...

    • Posted September 16, 2011
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  • Blacksands Pacific farm-in to Sigmund’s OPL 2012

    US-based Blacksands Pacific will spend at least $215 million on developing oil block OPL 2012 in the offshore Niger Delta after signing a deal with indigenous exploration and production companies, the company has announced Blacksands will fully...

    • Posted September 15, 2011
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  • Sanusi challenges financial institutions on Financial System Strategy 2020

    CBN governor, Malam Sanusi Lamido Sanusi, said on Wednesday in Abuja that financial institutions in the country must effectively play their roles to ensure full implementation of the Financial System Strategy 2020. FSS 2020 seeks to make...

    • Posted September 14, 2011
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  • AeroMechanical Services Signs AFIRS 220 Contract with Nigerian Airline

    AeroMechanical Services Ltd. has signed a $440,000 USD contract with a Nigerian airline for the Automated Flight Information Reporting System (“AFIRS(TM)”) 220. The contract requires AMA to install the AFIRS 220 on a total of five Boeing 747...

    • Posted September 14, 2011
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  • Arik Air now accepts International Credit Cards Payments Online

    Arik Air has introduced the option to pay with international credit cards-visa, master card-for tickets purchased on its website. The airline’s Senior Vice President in charge of commercial, Kevin Steele, said in Lagos that international credit card payment...

    • Posted September 14, 2011
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  • Rights Issue: Flour Mills Nigeria Offers Shareholders 20% Discount

    To encourage its shareholders to invest in its upcoming rights  issue, the management of Flour Mills of Nigeria Plc,  has resolved to  sell  its  shares at N62 per share indicating a discount of 20 per cent on...

    • Posted September 14, 2011
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  • Proglobal International Consortium to invest $600m in power sector

    Proglobal International Consortium yesterday unfolded plans to invest $600million in the country’s power sector. The consortium comprises Finagestion – a French Utility Company, Symbion Power – a United States Board Power firm and Progblobal Power, an indigeneous firm....

    • Posted September 14, 2011
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  • Pagatech to roll out mobile money transfer nationwide by 2015

    Pagatech Limited, one of the operators issued full operating licence by the Central Bank of Nigeria recently, said it was poised to roll out secure money transfer services to Nigerians with a target to develop 30, 000...

    • Posted September 13, 2011
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  • Nigeria Bonny Light crude Oil Sales for September, October to Be Delayed

    Nigerian benchmark Bonny Light crude for export in September and October will be delayed by as many as 17 days, a revised loading program obtained by Bloomberg News showed, after Royal Dutch Shell Plc declared force majeure....

    • Posted September 13, 2011
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