Monday, January 17, 2022
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Corporate News

Read the latest company news in Nigeria across all sectors, including insurance, oil, and investment.

Nnamdi Okonkwo, the Chief Executive Officer (CEO) of Fidelity bank, has been arrested alongside other top officials of the bank over a N58.2 billion money-laundering scandal. Following their arrest by the Economic And Financial Crimes Commission (EFCC), Okonkwo and the other arrested officials have regained their freedoms, but the...
Trouble for GTBank as one of its customers, Funke Adeoye narrated how the financial institution fraudulently transferred N200,000 from her bank account into another account, belonging to Bet9ja, a betting company. Surprisingly to members of the public, Adeoye isn't the only one calling out GTBank for fraud-related matters, particularly transferring...
Chinese manufacturing and servicing company, Inner Galaxy Group has been called out for enslaving its Nigerian workers. The dehumanisation was captured by a Twitter handle, @Truthfully83. In what appeared to be an investigative exposure, Inner Galaxy Group's enslavement of its Nigerian workers was exposed in a series of post on Twitter. Below...
In what appeared to be a similar situation with Air Peace, Nigerian private airline, Bristow Helicopters has sacked no less than 100 pilots. This, according to the helicopter operator, was due to the raging COVID-19 pandemic. Sadly, the pilots were not the only ones rendered jobless, the company also sacked...
Air Peace, a Nigerian private-owned airline, has sacked no less than 70 pilots across its fleet and has reduced its staff salaries by up to 40 percent. Punch reports that a member of the National Association of Aircraft Pilots and Engineers (NAAPE), who craved for anonymity made this disclosure. Why the...
Shoprite, one of Africa's foremost retailers, has called it a quit in Nigeria after 15 years of operations in the country. Disclosing its decision to abandon Nigeria's consumer market, Shoprite stated that it's considering a potential divestment from its Nigerian operation – Retail Supermarkets Nigeria Limited. “Following approaches from various potential...
For Tony Elumelu, the Chairman of UBA Group and Heirs Holdings, there is no better time to invest in Africa than now. As global economy is devastatingly hit by the lingering infectious disease, Elumelu advised investors to take advantage of the situation to invest in Nigeria, and other countries in...
Austin Avuru, the Chief Executive Officer (CEO) of Seplat Petroleum Development Company Plc, has exited the oil and gas company after 11 years. His exit will take effect from Friday, July 31, 2020. Avuru made the disclosure of his exit in the company's latest financial statement, where he confirmed Roger...
Jonathan Nnamdi Udemadu, the former Managing Director (MD) of Achina Microfinance Bank, has been sentenced to 11 months imprisonment after being convicted for committing multiple frauds. After being found guilty of nine-count charges of abuse of office, forgery, issuance of dud cheque, and fraudulent conversion of depositors fund to the...
Barely five months after being appointed, Helen Iwuchukwu has resigned as the Executive Director of Transcorp Hotels Plc. Her resignation was on Tuesday, July 21, 2020, disclosed, but the Board of Directors of Transcorp Hotels had accepted it since Monday, July 20, 2020. Although, she will remain in her position...