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.

First Bank has finally confirmed that billionaire Femi Otedola is now its largest shareholder. This development came after the financial institution released a statement that said the report published on Unmask NG that has it that Otedola had become a major shareholder in the bank after securing the acquisition of...
Remi Babalola, a formal chairman of FBN Holdings, has stated that corruption was why he resigned from his position in the company. In his resignation letter to FBN Holdings, Babalola noted that he could no longer persevere the corruption in the company. His resignation letter read: “I accepted the appointment as...
Nigerian Manufacturers has shown concern over alarming electricity tariff across different states in the country. In an address issued by the president, Manufacturers Association of Nigeria, MAN, Mansur Ahmed, said that the discrepancy between electricity tariffs had been observed to suit some part of the country.  He added that the difference in...
The Chief Executive Officer (CEO) of Aero Contractors, Captain Ado Sanusi, has reacted to merging its company with Arik air. Recall that the Asset Management Corporation of Nigeria (AMCON) had plans to merge both companies due to the alleged debt burden of the airlines caused by the Coronavirus pandemic. With...
The Lagos State High Court, presided over by Justice L.A. Okunnu has discharged Mr. Thomas Etuh of complicity in the money laundering charges preferred against Messrs. Francis Atuche and Ugo Anyanwu. The discharge order, which was made on September 21, 2021, followed an application by Etuh and others who were...
Airtel Nigeria, a telecommunication company is presently enmeshed in a fraud controversy, as one of its customer care representatives, Jeremiah Mustapha, was recently sentenced to a five years' imprisonment for facilitating a N2.2 million fraud. Unmask NG learnt that Mustapha conspired with one Nurudeen Salimu, a fraudster, to dupe one...
Investors' confidence is jittery towards Wema Bank stocks as the lender's earnings for nine months of 2020 dropped by 10.8%. For the past two weeks, Wema Bank's investors' confidence has been fluctuating in the stock market, and that's since the company released its financial statements. In Wema Bank's earnings report...
The blockchain industry has again faced another obstacle, as Financial Conduct Authority (FCA), United Kingdom's (UK) financial regulator, banned Binance. With the new development, Binance, which is one of the world's largest cryptocurrency exchanges, can no longer conduct any regulated activity in the country. In a notice seen by Unmask NG, the...
Ecobank Nigeria Limited has warned Flour Mills of Nigeria Plc, against the proposed acquisition of equity stake in Honeywell Flour Mills Plc. According to the financial institution, purchasing an equity stake in Honeywell Flour Mills Plc is too risky considering the fact that Honeywell Group Limited, the parent firm, had...
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...