Business

Stanbic IBTC Holdings PLC, a member of Standard Bank Group, has announced the opening of its ₦148.7 billion Rights Issue. The Rights Issue, which opened on 15 January 2025, and closes on 21 February 2025, offers existing shareholders the opportunity to subscribe to 2,944,772,083 Ordinary Shares of 50 kobo each …

The nascent growth in the Nigerian private sector seen at the end of 2024 was sustained into the first month of 2025, with new orders and business activity each continuing to rise. Moreover, there was a large improvement in business confidence while firms expanded employment, purchasing and inventories. Although input …

Nigeria’s non-oil export rose by 20.79 per cent in the value to $5.456bn in 2024, the Nigerian Export Promotion Council (NEPC) said. The figures rose above $4.5bn non-oil export recorded in 2023. The development was disclosed by the Executive Director of the Nigerian Export Promotion Council, Nonye Ayeni. Ayeni attributed …

Telecommunications giant, Globacom, has held a draw in Ibadan to select new winners in its ongoing loyalty reward promo, Festival of Joy. The event, which took place at the Challenge Office of Globacom, was attended by the media as well as a large gathering of walk-in customers, some of who …

Oil Firm, Newcross Petroleum, Directors sued over tax evasion of $15.7m USD, N131.4m The Federal Government of Nigeria has filed before a Federal High Court in Lagos eight- count charge of evasion of taxes in the sum of $7,864,569.48 and N67,682,818.03 against NEWCROSS PETROLEUM and seven officials of the company. …

For his exceptional leadership and contributions to banking and finance, the Board Chairman of Fidelity Bank Plc, Mr Mustafa Chike-Obi, has been presented the Lifetime Achievement Award at the Thisday Awards.   At a well-attended event featuring leaders across Nigeria’s public and private sectors, the erudite banking professional joined a …

Guaranty Trust Holding Company Plc (GTCO) is proud to be the headline sponsor of the 2025 NPA Lagos International Polo Tournament. The highly-anticipated Polo Series will be held at the prestigious Lagos Polo Club, Ikoyi, from 4th to 23rd February 2025. A staple in Nigeria’s sporting and social calendar, the …

The World Customs Organisation (WCO) has commended SIFAX Group for its strategic importance and the excellent service that has become the hallmark of the business conglomerate. This recognition was given during the presentation of a “Certificate of Merit” to the company by WCO during this year’s International Customs Day celebration …

The Nigerian Economic Summit Group (NESG) has announced the appointment of three leaders, Mr Wole Adeniyi, Mr Mohamad Darwish, and Mr Olusegun Alebiosu, to its board of directors. These appointments reflect the NESG’s steadfast dedication to promoting visionary leadership and strengthening partnerships with key business leaders and private sector stakeholders. …

  The Dangote Petroleum Refinery is awaiting up to 12 million barrels of crude oil from the United States. The refinery resorted to crude importation as local supply challenges hindered the new $20bn refinery’s push to reach full refining capacity. Recall that the refinery plans to reach its 650,000 barrels …