NAICOM approves Ogbodu as Sunu Assurances new MD
Adesola Afolabi
March 5, 2019
The board of SUNU Assurances Nigeria Plc has announced the appointment of Samuel Oghenebrume Ogbodu as its managing director/chief executive of SUNU Assurances Nigeria Plc. This followed the approval of the National Insurance Commission. Similarly, NAICOM granted a provisional approval for the appointment of Adeleke Emmanuel Hassan as executive director, Technical & Operations. Ogbodu is […]
NAHCO new group structure to enhance shareholder returns by year end, says GMD
Adesola AfolabiFebruary 6, 2019
Olatokunbo Fagbemi the group managing director of the Nigerian Aviation Handling Company (NAHCO) Plc., has assured NAHCO shareholders of significant improvement in returns on investment by 2019 year end. The group MD is hinging this promise on a favourable business outlook, a new group structure and a five year strategic plan being adopted by the […]
NB announces new board appointments, resignation
Adesola AfolabiDecember 6, 2018
Nigerian Breweries Plc. has announced the appointment of Oluseyi Bickersteth and Adeyinka Aroyewun as non-executive directors and the resignation Samuel Bolarinde. In a statement signed by Uaboi Agbebaku, the company secretary, the company stated that the appointments of Bickersteth and Aroyewun would take effect from 1st January 2019, while Samuel Bolarinde’s resignation will take effect on […]
NEPC partners Nigeria-Amercan Chamber’s to drive investments in non-oil sector
Temitayo AyetotoAugust 15, 2018
The Nigeria Export promotion Council (NEPC) has initiated a partnership with the Nigeria-American Chamber of Commerce (NACC) with a focus on generating American investment in the non-oil sectors of the economy. Segun Awolowo, chief executive officer, NEPC, speaking at a meeting with Oluwatoyin Akomolafe, the NACC national president, said the initiative was geared towards leveraging […]
C&I Leasing completes buyout of petrotech JV minority shareholders, takes 100% ownership
Adesola AfolabiJuly 12, 2018
C &I Leasing Plc., a leasing and business service conglomerate has just concluded the buyout of minority shareholders of Petrotech Marine Ltd- a joint venture company, whose stakes amounted to 27.5 percent. As a result of this transaction facilitated by Wizer Advisory engaged by the parties as an independent advisor for the valuation of the […]
Teleology Holdings to buy 9mobile, deposits non-refundable $50m
Businessam StaffMarch 22, 2018
Teleology Holdings, an investment company has agreed to buy 9mobile, Nigeria’s fourth largest telecoms provider, the firm said Thursday, putting down a non-refundable $50 million deposit. The company stated that “the Nigerian telecom sector is set to witness a new era of innovation and vibrancy as Teleology puts finishing touches to its acquisition of 9mobile.” […]
Shippers’ Council working with PEBEC on global best practices in Nigeria’s maritime sector
Businessam StaffMarch 17, 2018
The Nigerian Shippers’ Council (NSC) will be partnering the Presidential Enabling Business Environment Council (PEBEC) to promote a conducive business environment and global best practices in the maritime sector. Hassan Bello, the executive secretary of the NSC, disclosed this in Lagos on Friday at a meeting with PEBEC and shipping lines. Bello said the NSC […]
UBA, China Development Bank sign $100m loan deal to support SMEs in Africa
Businessam StaffMarch 2, 2018
United Bank for Africa (UBA) Plc., a pan-African banking group, and China Development Bank (CDB), the world’s largest development finance institution, have announced the signing of a letter of intent for a seven-year $100 million deal to finance the development of small and medium enterprises (SMEs) in Africa. The $100 million loan will enhance UBA’s […]
Petrogress, Inc. announces expansion to Nigeria
Businessam StaffFebruary 24, 2018
Petrogress Int’l, LLC, a subsidiary of Petrogress, Inc. has entered into a memorandum of understanding and a partnership agreement with A&E Petroleum Co. Limited, a Nigerian corporation to jointly form and co-operate a corporation to be named P&A Nigeria Oil Co. Ltd. (“PANOC”) to engage in oil and gas business opportunities in Nigeria. PANOC is […]
Israeli’s Delek Drilling announces $15bn export deal with Egypt
Businessam StaffFebruary 20, 2018
Israeli energy company Delek Drilling has announced a $15 billion deal to supply natural gas to Egypt. Delek and its U.S. partner, Noble Energy, signed a deal Monday, according to Associated Press to sell a total of 64 billion cubic meters of gas over a 10-year period to Egyptian company Dolphinus Holdings. Yossi Abu, chief executive […]