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  Is Competition from Foreign Brands Killing the Nigerian Fast Food Industry?

  Foreign quick service restaurants, popularly known as fast food restaurants are springing up all over the place. The Kentucky Fried Chicken (KFC) franchise in Nigeria is owned by a group of Indian investors. The brand is easily...

  • Posted August 3, 2012
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  House of the Week: Every Inch Of This Ikoyi Property Has Been Immaculately Designed

  Regardless of where you are on the property, it’s breathtaking. You can now rent this beautiful 3 Bedroom Flats in 3B Osborne Road, Ikoyi. The Property is a fully serviced property, consisting of a block of 10...

  • Posted August 3, 2012
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  ‘AMCON is Beneficiary of London Court Ruling Against Akingbola’, says Access Bank

  The Asset Management Corporation of Nigeria (AMCON) will be the beneficiary of the $1.02 billion London Court ruling against Erastus Akingbola,  former Intercontinental Bank chief. Access Bank said it assumed all claims in litigation against Akingbola instituted...

  • Posted August 3, 2012
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  ‘First Bank In Compliance with CBN Recapitalization Policy for Offshore Units’ – CEO

  Chief executive Officer of First Bank, Olabisi Onasanya, has disclosed that Africa’s oldest financial institution is in compliance with the  apex body’s latest regulation on Nigerian bank foreign subsidiaries. The CBN last week prohibited Nigerian banks from...

  • Posted August 3, 2012
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  Dangote Cement Posts N71 billion Profit as Sales Top N142 billion

  Dangote Cement, the prize of the Dangote Group, transmitted its first half (January to June) earnings report to the Nigerian Stock Exchange yesterday. Africa’s largest cement manufacturer declared a revenue of N142 billion in the unaudited financial...

  • Posted August 3, 2012
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  Naira Falls Third Day As Bank Sells Least Dollars In Three Weeks

  The naira fell for a third day against the dollar on the Nigerian interbank market after the central bank sold the lowest amount of U.S. currency in three weeks. The currency of Africa’s biggest oil producer retreated 0.4 percent to...

  • Posted August 2, 2012
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  Dangote Group Calls on Graduates to Seek Employment as its Truck Drivers

  The Dangote Group obviously with good intentions at heart is advertising employment opportunities for graduates in Nigeria to become its truck drivers. Many young Nigerians are a bit incensed at the scheme called the “Drivers Academy”. According...

  • Posted August 2, 2012
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  H1 2012 Earnings: UAC Posts Revenues of N30.5 billion

  UAC of Nigeria Plc, the most diversified conglomerate in Nigeria with operations in foods, beverages, dairies, restaurants, paints, logistics and real estate announces IFRS compliant results for the six months ended 30 June 2012. Commenting on the...

  • Posted August 2, 2012
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  Foreign Reserves Fall in July, as Sanusi cites Falling Oil Prices As Cause for Concern

  Depressed crude prices and other macro-economic factors have conspired to reduce the level of foreign reserves from $36.93 billion  in June to $36.43 at the tail end of July, according to data from the Central Bank of...

  • Posted August 2, 2012
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  PIB Will Boost Output – Petroleum Minister

  Nigeria’s revised oil industry bill will help increase the country’s crude output by attracting foreign investors, Petroleum Minister Diezani Alison-Madueke said today. The Petroleum Industry Bill, which was approved by the Cabinet on July 11 and presented...

  • Posted August 2, 2012
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  Flour Mills Seeks Approval to Acquire Rival

  Flour Mills of Nigeria said on Wednesday it will seek shareholders’ approval to acquire a controlling stake in privately-held food manufacturer Rom Oil Mills, as it looks to boost its market share in Africa’s most populous nation....

  • Posted August 2, 2012
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  Finance Minister is being Fiscally Responsible in Budget Implementation – Okupe

  The Senior Special Assistant to President Goodluck Jonathan on Public Affairs, Dr. Doyin Okupe, has waded into the ongoing battle between the Executive and Legislative over budget implementation. Okupe said categorically that it would be an unserious...

  • Posted August 2, 2012
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  Akingbola Set to Appeal British Court Ruling

  Erastus Akingbola, the embattled former Managing Director of Intercontinental Bank has said he will appeal the ruling made by a London High Court earlier this week which found him guilty of misappropriating over $ 1 billion. According...

  • Posted August 2, 2012
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  Presidential Aide Stands as Surety for Subsidy Fraud Suspects

  The Senior Special Assistant to the Governor on intergovernmental relations, Mrs. Mariam Ali, has volunteered herself to be the surety of one of the subsidy suspects, Mr. Christian Taylor. Mrs. Ali, also happens to be the wife...

  • Posted August 2, 2012
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