Fakoyejo Olalekan

Over 23 Nigerian Companies Fined N295.45 million For Failing To Pay Employees’ Pension

The National Pension Commission (PENCOM) penalised 23 companies for failing to remit its employees pension contributions, as the regulator recovers N422.34 million from the defaulters in First Quarter (Q1) 2022. According to the Q1 report released on Tuesday, which covers the month

June 8, 2022

Business

First Bank Investors Lost N12.56 billion, As Femi Otedola Take Out N5.76 billion

First Bank of Nigeria (FBN) largest shareholder, Femi Otedola, has sold part of his N30 billion worth of investment in the company, a trading document released by the financial institution on Tuesday has disclosed. Otedola sold 517.93 million shares, in four trading

June 8, 2022

Business

Interswitch To Pay Employees’ Spouse Allowance, Children’s Education Fee

Spouses of Interswitch employees will now receive allowances from the African payment company, as the firm expands its payment structure beyond the workers. The move is meant to improve productivity in the organisation. Interswitch said the management understands that the loyalty the

June 7, 2022

Business

BDC Operators Address Unstable Forex Rates, As Naira Hit N615 Per Dollar

The Association of Bureaux De Change Operators of Nigeria (ABCON) has urge the Central Bank of Nigeria (CBN) to partner with the group in order to end multiple exchange rates, as rise Naira grows weaker. Naira had closed the official market at

June 7, 2022

Business·Insights

How Segun Agbaje Lost N143.05 million in Three Months, Amid GTCO’s Poor Financial Performance

The last three months has been a disappointing period for investment banker, Segun Agbaje, the Group Chief Executive Officer of Guaranty Trust Holding Company (GTCO), as his total investment in the financial institution fell by -16.5%. Agbaje lost N143.05 million after his

June 7, 2022

Business

Airtel, MTN, 9mobile Are Biggest Losers, As Nigerians Leave Network For Rivals

In the last four months, Airtel, 9mobile and MTN Nigeria were the biggest losers in the telecommunications market, as over 15,000 network users left one telco to the other, using the porting channel. The porting channel is used by subscribers who don’t

June 7, 2022

Business·Finance & Economy

Afreximbank, Titan Trust Bank Sign $300 million Deal To Provide $3bn To Traders

Titan Trust Bank (TTB) obtained $300 million from African Export Import Bank (Afreximbank) to acquire Union Bank Nigeria. The financial backing will see Titan Trust leverage on the acquisition to provide capital for intra-African trade. Why Afreximbank back Titan Trust Bank? Afreximbank

June 7, 2022

Technology

Nigerian Entrepreneur, Yvonne Johnson, Gets $3 million From Foreign Investors For Her Credit Business

Former First Bank of Nigeria employee, Yvonne Johnson, raises $3 million from foreign investors, including Target Global, which is known to fund Nigerian startups, for her credit agency company, Indicina. Johnson’s Indicina operates in the financial services, helping banks, non-bank lenders and

June 6, 2022

Technology

Elon Musk Threatens To Cancel Twitter Acquisition Over Users Base Disagreement

World’s richest man, Elon Musk, has threatened to stop his planned acquisition of social media company, Twitter, in a new filing to the United States Securities and Exchange Commission (SEC), the capital market’s authority. Musk said he might walk away from the

June 6, 2022

Business

Nigeria Air Operation Delayed For Another Four Months, Reasons Revealed

Nigeria Air is set to receive the needed Air Transport Licence (ATL) from the Nigerian Civil Aviation Authority (NCAA), but the national carrier won’t start operation in the next four months. The ATL is expected to be issued on Monday, but Nigeria

June 6, 2022

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Fakoyejo Olalekan

Over 23 Nigerian Companies Fined N295.45 million For Failing To Pay Employees’ Pension

First Bank Investors Lost N12.56 billion, As Femi Otedola Take Out N5.76 billion

Interswitch To Pay Employees’ Spouse Allowance, Children’s Education Fee

BDC Operators Address Unstable Forex Rates, As Naira Hit N615 Per Dollar

How Segun Agbaje Lost N143.05 million in Three Months, Amid GTCO’s Poor Financial Performance

Airtel, MTN, 9mobile Are Biggest Losers, As Nigerians Leave Network For Rivals

Afreximbank, Titan Trust Bank Sign $300 million Deal To Provide $3bn To Traders

Nigerian Entrepreneur, Yvonne Johnson, Gets $3 million From Foreign Investors For Her Credit Business

Elon Musk Threatens To Cancel Twitter Acquisition Over Users Base Disagreement

Nigeria Air Operation Delayed For Another Four Months, Reasons Revealed

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