The Corporate Affairs Commission (CAC) says it will strike off one hundred thousand companies that have failed to file annual returns in the last ten years. The Registrar-General of the CAC, Alhaji Garba Abubakar, in a statement, said this while speaking at a Training Workshop on the Use of the Beneficial Ownership Register (BOR) in Lagos. Abubakar, however, said that ...

Wema Bank has announced an increase in salaries for its employees to cushion the effect of economic fluctuations occasioned by the removal of fuel subsidy. It said the increment would equip the full cadre of its staff to maintain a good standard of living in the economic climate and set the standard for pro-employee initiatives in the country. Wema’s Divisional ...

The World Bank has commenced the implementation of its $700million Agro-Climate Resilience in Semi-Arid Landscapes (ACReSAL) project in Nigeria. The project to be implemented in 19 Northern states and the Federal Capital territory(FCT ) seeks to reclaim and halt degradation in the region to enhance food security as well mitigate frequent farmers/herders clashes. The National Coordinator, ACReSAL, Abdulhamid Umar, stated ...

The Managing Director, Bank of Industry (BoI), Olukayode Pitan, has advocated specialised funding to help the country actualise its growth blueprint. He spoke at the third Association of Nigerian Development Finance Institutions’ Annual General Assembly in Abuja. Pitan, who is also the Chairman, Association of Nigerian Development Finance Institutions (DFIs), said as the country strives to achieve sustainable development goals ...

Telecommunications giant, Globacom, together with fintech platform, PalmPay, have begun a new promotion campaign, called: “PalmPay Bonanza – Recharge Glo and Win.” The promo will give Nigerians who buy Glo data and airtime bundles on the PalmPay platform the opportunity to win exciting rewards. Every week, from July 21 to September 14, the telecommunication giant will hold a live raffle ...

The Federal High Court sitting in Lagos has granted bail to the suspended Central Bank of Nigeria (CBN) Governor Godwin Emefiele in his alleged gun possession trial. Justice Nicholas Oweibo released Emefiele on a N20million bail bond with one surety in the like sum. The judge made the order following the banker’s “not guilty” to a two-count charge filed against ...

Efforts are being made to help Nigeria re-enter the global beans market estimated at $7.21 billion, which is expected to hit $9.43 billion by 2028. Nigeria produces nearly 47 million metric tonnes of beans from an estimated 4.5 million hectares yearly, making it the largest producer in Africa and fourth largest producer in the world. In 2015, the European Union ...

FBN Holdings Plc has posted N206 billion profit before tax in the first half of the year. The six-month report for the period ended June 30, 2023 showed that the company grew gross earnings and profit before tax to N656.6 billion and N206.3 billion respectively. Group Managing Director, FBN Holdings Plc, Mr. Nnamdi Okonkwo said the company has continued to ...

The naira appreciated against the United States dollar on the Investor & Exporter forex window on Wednesday, closing at 793.70/$. The local currency had earlier traded at N825 a week earlier on the I&E window. According to figures obtained from the FMDQ, the trading, which commenced at 778.07/$ on Wednesday reached a high of 853/$ before closing at 793.70/$. The ...

Ecobank Nigeria Limited ihas said it would appeal a judgement by a Lagos Federal High Court, which awarded damages of N72 billion in favour of Honeywell Flour Mills Plc against the bank. Reacting to the judgement of the court presided over by Justice Liman, the bank said it believed that the judgment was perverse and cannot stand the test of ...