One of the major financial institutions in Nigeria, Sterling Bank Plc, has clarified that it did not hold account for a public officer from the previous administration to which the visit of the EFCC to its head office in Lagos has been linked either officially or otherwise. The clarification, Sterling Bank said, became necessary following…
Nigerian Breweries Plc, the first and foremost brewer in Nigeria, has reiterated commitment to sustaining its position as the leading beverage company in Nigeria. Managing Director of the company, Nicolaas Vervelde stated this at a pre-Annual General Meeting, AGM interaction with financial journalists in Lagos on Thursday. Vervelde explained that favourable demography, growing middle class…
Nigerian Breweries Plc, the pioneer and largest brewing company in Nigeria, has reaffirmed its commitment to backward integration substitution of imported raw and packaging materials with local alternatives. According to the company, not fewer than 250,000 new jobs have been created through its investment in the Sorghum and Cassava value chain. Speaking to Financial Journalists…
Chief Executive Officer and Managing Director of Guaranty Trust Bank, GTBank, Segun Agbaje, has been nominated for the biggest individual accolade in the forthcoming African Banker Awards. He is nominated for the Banker of the Year. Agbaje will be contesting the accolade alongside banking executives from Egypt, Kenya, Mozambique and Tanzania. His bank, GTBank, also…
Leading brewing company in Africa, the Nigerian Breweries Plc, has continued to put bold smiles on the faces of its shareholders and other stakeholders as the brewing giant breaks its 70-year old dividend payment record. The 2015 audited results showed that the Company’s shareholders would earn a total dividend of N4.80 (Four Naira Eighty Kobo)…
***Appoints professional debt resolution firms as partners As part of its renewed strategy to resolve over 6000 accounts with loan balances of N100 million and below, the Asset Management Corporation of Nigeria (AMCON) has flagged off its induction programme for successful firms that qualified as its Asset Management Partners (AMPs). The AMPs are consortiums with…
Moody’s Investors Service, a leading global rating agency, has re-affirmed the resilience of the Sterling Bank franchise by maintaining the lender’s standalone Baseline Credit Assessment (BCA) ratings of B3. This cheery news came hours after the lender’s share price appreciated by 3.25 per cent in today’s trading on the Nigerian Stock Exchange (NSE) to close…
The United Bank for Africa, UBA, Group recently held its first ever Senior Leadership Forum reflecting the strategic importance and growth potential of its pan-African business. UBA Group Chairman Tony O. Elumelu convened the Forum to review the impressive growth that the bank’s African network had made over the past 11 years and to provide…
A Profit After Tax, PAT, of N10.45 billion has been declared by the Board of Directors of Nigerian Breweries Plc for its First Quarter of 2016. The unaudited and provisional results released to The Nigerian Stock Exchange show that the N10.45 billion PAT represents a 4 per cent increase over the N10.10 billion declared in…
Warren Buffet is regarded as the most successful investor of all times and one of his many quotes is no matter how great the talent, some things just take time. You can’t produce a baby in one month by getting nine women pregnant. That Guinness Nigeria has been around for a while is stating the…