Shareholders have reacted sharply to the Central Bank of Nigeria (CBN)’s order on the suspension of MTN Group’s dividend payment from its Nigerian subsidiary, MTN Nigeria, over an alleged illegal repatriation of funds to South Africa. The shareholders, who spoke to The Guardian, yesterday, faulted the move, insisting that dividend that has been declared must be paid. The South African telecoms giant in a quarterly update to its ...

The Institute of Chartered Accountants of Nigeria (ICAN) Political Ambassador, Hon. Odeneye  Olusegun, has urged the Federal Government to introduce interest free loan scheme in microfinance scheme for young graduates who are into vocations through the establishment of Graduate Internship Scheme (GIS) . Odeneye who is representing Ijebu Central Federal Constituency, comprising of Ijebu Ode, Odogbolu and Ijebu North-East, made the call ...

Relief may soon come the way of Nigeria’s foreign exchange-starved economy, following the successful raising of $300 million by Access Bank Plc via a Eurobond from the international market recently. The acceptance of the bank’s offer is expected to spur other Nigerian lenders to raise dollar-denominated debt, as well as pave the way for the federal government’s proposed $1 billion Eurobond issue expected to be floated before the end...

The London Stock Exchange (LSE) has provided $26.1 billion for African companies in the last 10 years, the Chief Executive Officer of the Nigerian Stock Exchange (NSE), Mr. Oscar Onyema has said. Onyema disclosed this while speaking at the third “London & Lagos Capital Markets in Partnership’ conference held at the LSE at the weekend. According to him, eight Nigerian companies were among those that benefitted from the ...

Wema Bank Plc and three other companies- Petrolex Oil and Gas, Hyundai and Ajayi Legal Partner recently signed a deal with the Ogun State Government to build the second largest refinery in sub-Saharan Africa and the largest petroleum product depot in Nigeria. The refinery and tank farm project expected to generate over 2,000 jobs was announced in a statement. The Chairman, Petrolex Group, Mr. Segun Adebutu, while speaking at the signing ...