Nigerian banks see stability returning
Businessam Staff
May 16, 2017
* Target manufacturing, agriculture, infrastructure… Nigerian banks are uptick that the economy is past the worst of what most described as “the most severe downturn in 25 years”, according to Renaissance Capital’s findings from its 8th annual Pan-Africa Investors conference, which held in Lagos recently. According to the research firm, the return of stability in […]
Lagos pays N1.8bn as pension in 1 year
Businessam StaffMay 15, 2017
Lagos State Government on Monday said that it paid a total of N1, 846 billion as pension from May 31, 2016 to April 30, 2017. The state Commissioner for Establishment, Training and Pensions, Dr Akintola Benson-Oke, made the disclosure at the 2017 Ministerial Press Briefing to mark Gov. Akinwunmi Ambode’s two years in office. The […]
Vodafone sells $2.6 billion Safaricom stake to S.African unit
Businessam StaffMay 15, 2017
Vodafone Group Plc is simplifying its holdings in sub-Saharan Africa, selling a $2.6 billion stake in Kenya’s Safaricom Ltd. to its majority-owned Vodacom Group Ltd. The all-share deal will transfer a 35 percent stake in Safaricom to Vodacom in return for stock in the Johannesburg-based unit, raising the parent’s stake in its South African business […]
CBN tasks other financial institutions on proper rendition of returns
Businessam StaffMay 11, 2017
The Central Bank of Nigeria (CBN) has tasked other financial institutions (OFIs) on proper and prompt rendition of returns for it to effectively assess and mitigate money laundering-risks in the industry. In a circular signed by Tokunbo Martins, its director of other financial institutions supervision department, and addressed to all OFIs, the CBN noted the […]