Category Archives: Business News

Access Bank PLC Consolidates Operations in East Africa, Completes Acquisition of BancABC Tanzania

Access Bank PLC (“the Bank”) has announced the successful completion of its acquisition of African Banking Corporation (Tanzania) Limited (“BancABC Tanzania” or “BancABC”), in line with its strategic expansion goals.

UBA Celebrates Africa Day in Style, Commits to Empowering Youths for Leadership Roles

Africa’s Global bank, United Bank for Africa (UBA) Plc, joined the rest of the world on Friday, May 24, 2024, to mark this year’s edition of the Africa Day.
The celebration which went on concurrently across all of its subsidiaries in Africa as well as in the United Kingdom, France, United States of America and the United Arab Emirates, had the underlying theme: Education Fit for the 21st Century.

OPEC forecasts oil market growth with 2.25 million barrels a day demand In 2024

The Organization of Petroleum Exporting Countries, OPEC, has again expressed optimism on robust oil market growth.

Chairman, Access Holdings Plc Aig-Imoukhuede Is President France Nigeria Business Council 

The Chairman of Access Holdings Plc, Aigboje Aig-Imoukhuede, has been appointed the President of the France Nigeria Business Council (FNBC) by the President of the French Republic, President Emmanuel Macron.

Another rate hike looms as inflation rises on back of naira slide, increase in transport cost

Inflation rate, the average change in prices of goods and services rose 33.7 per cent in April from 33.2 per cent a month ago. Analysts say the increase was fueled by rise in transportation cost fueled by scarcity of petrol during the month and the slide in naira.

LASAA unveils amnesty programme to ehhance signage registration and payment processes

The Lagos State Signage and Advertising Agency (LASAA) proudly introduces the LASAA Amnesty Programme (LASAAMP), a groundbreaking initiative aimed at streamlining registration and payment processes for both new and existing signage owners.
According to Prince Fatiu Akiolu, Managing Director of LASAA, the LASAAMP initiative is designed to provide seamless registration and payment options while promoting adherence to signage regulations.
“Our LASAAMP campaign is geared towards simplifying the payment process for all business owners, with a strong emphasis on compliance and the consequences of non-compliance with signage regulations. This initiative is especially beneficial for small and medium-sized enterprises facing challenges with current payment procedures,” he emphasized.
As part of the LASAAMP initiative, LASAA is introducing Quick Payment Process helplines to guide business owners through the payment process effortlessly. The helplines are: – 0908-801-93062, 0908-801-93083, 0908-801-93124, 0908-801-93145, and 0908-801-9338.
Mr. Temitope Akande, LASAA’s Head of Strategy and Corporate Communication, explained that during the amnesty period, which is scheduled to run from May 15th to June 25th, all signage applications and payment renewals will be treated as amnesty registrations.
“This presents a unique opportunity for both walk-in customers and existing clients to renew their registrations and benefit from the streamlined payment process,” he noted.
Akande further highlighted that LASAA has deployed dedicated teams across its five divisions in Lagos State – Ikeja, Badagry, Ikorodu, Lagos Island, and Epe – to ensure efficiency and prompt response. Each region will have Monitoring & Inspection staff overseeing registration, payment processes, and conditional approvals within 48 hours of receiving the registration request.
Mr. Gbolahan Dixon, LASAA’s Head of Innovation and Operation, emphasized that each team will be led by a supervisor who will manage a WhatsApp-enabled line to address inquiries promptly, round-the-clock (24/7).
LASAA remains steadfast in its commitment to creating a conducive environment for signage owners to operate within the confines of the law.
The LASAAMP initiative underscores LASAA’s unwavering dedication to supporting businesses while ensuring compliance with signage regulations.

NNPCL assures foreign investors of interest in developing of oil, gas infrastructure

The Nigerian National Petroleum Company Limited (NNPCL) says it will continue in the development of huge oil and gas infrastructure to make it easy for operators and prospective investors to carry out their business in Nigeria.

Tinubu’s 1st year: There are lags between policies and impact – Rewane

One year after President Ahmed Bola Tinubu was sworn in as President and Commander-in-Chief of the Nigerian Armed Forces, analysts say their are lags between government policies and impact.

Fidelity Bank records a 120.1% growth in PBT to N39.5bn in Q1 2024

In line with its upward growth trajectory, leading financial institution, Fidelity Bank Plc, has posted an impressive 120.1% growth in Profit Before Tax from N17.9bn at the end of Q1 2023 to N39.5bn for Q1 2024. This was made known in the Bank’s unaudited financial statements released on the issuer portal of the Nigerian Exchange (NGX) on Tuesday, 30 April 2024.

Transcorp Group delivers impressive Q1 2024 performance; sustains revenue growth of 173% and PBT of N45 billio

Transnational Corporation Plc (“Transcorp” or the “Group”), Nigeria’s leading, listed conglomerate with investment in the Power, Hospitality, and Energy sectors, has announced impressive Q1 financial results for the period ended March 31, 2024.