FBN Holdings appoints Ani-Mumuney chairperson, FBN Insurance Brokers

Businessam StaffJanuary 31, 2018

FBN holdings, parent company of First Bank Nigeria Limited, has reconstituted the board of its subsidiary, FBN Insurance Brokers with Folake Ani-Mumuney appointed chairperson of the board of directors. In a notification to the Nigerian Stock Exchange (NSE), shareholders and the general public, Wednesday, the company also indicated that the duo of Seye Kosoko and Seyi […]

Africa Prudential unveils new USSD code for ease of access to its service offerings

Businessam StaffJanuary 31, 2018

Africa-Prudential-Registrars3-653x365

In line with its determination to dominate and redefine the landscape of registrar service delivery in the county, Africa Prudential Plc., has unveiled a new USSD code, *4018# tagged ‘Personal Registrar’ to ease access to its service delivery in the country. The USSD code, *4018#, which was unveiled in Lagos Wednesday enables shareholders to perform multitude of […]

First Bank celebrates 2017 achievements as it showcases awards

January 29, 2018

First Bank of Nigeria Limited received numerous awards last year in appreciation of its performance in the financial service industry, a development which has re-assured the bank’s customers of its unmarred relevance for over a century services. FBN was named the ‘Most Valuable Bank Brand in Nigeria’ for the sixth time by The Banker Magazine […]

MTN returns to profit for 2017 after loss from $1bn Nigeria fine

Businessam StaffJanuary 29, 2018

MTN Group Ltd., Africa’s biggest mobile-network operator by sales, said it returned to profit in 2017, recovering from a $1 billion fine it paid for its Nigerian business in the prior period. It expects to report a profit for the 12 months ended Dec. 31, the Johannesburg-based company said in a statement Monday, according to […]

GE posts $10bn loss, sales drop as power weakens

Businessam StaffJanuary 24, 2018

General Electric Co. forecast further weakening of its troubled power business on Wednesday as it reported a $10 billion loss and a 5-percent fall in revenue in the fourth quarter, driven by previously-announced charges for insurance losses and taxes. While the results contained no new sizeable charges, they threw into stark relief how far the […]

Nigerian bourse okays 33 companies, 435 directors on governance rating

Andy NssienJanuary 22, 2018

The Steering Board of the Corporate Governance Rating System (CGRS) says it has passed 25 companies which successfully scaled its rating test, having scored the required pass mark of 70 percent, whilst 87 others are at various stages of completing the process. The 25 successful companies join eight other firms that retained their rating from […]

IBM recovers after six years, but higher tax rate fear looms

January 19, 2018

IBM

International Business Machines Corp’s revenue finally shot up for the first time in 23 quarters, beating analysts’ estimates, but James Kavanaugh, IBM veteran, and new chief financial officer warned that a higher tax rate this year would pull back its profit level. IBM’s shares have amassed 10 percent so far this year on hopes of […]