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Corporate News

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

Air Peace CEO Allen Onyema discusses why its customers experience flights cancellation. For Allen Onyema, the Chief Executive Officer (CEO) of Air Peace, cancellation of flights is what its customers face due to unforeseen circumstances. In an interview with This Day, where he explained why that happens sometimes, Onyema said Air...
African Petroleum Producers Organisation (APPO) has said that the establishment of Dangote Oil Refinery will bring about a 36 per cent reduction in the importation of petroleum productions into the continent. Besides, the organisation expressed a belief that the success of Dangote Refinery project could incentivise the rise of similar projects...
Dangote Sugar Refinery Plc has reported a profit before tax (PBT) of N82.3 billion in the year ended December 31, 2022, indicating an increase of 142 percent to N48,28 billion over N34.billion recorded in the corresponding period in 2021.  According to the annual report of the Sugar company, profit...
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...
MTN Nigeria has lost no fewer than 400,000 MTN subscribers in less than a month. This is due to claims that MTN data bundles exhaust faster than other networks. Recall that in September,MTN's grip in the telecommunications market slacked as its market share dropped from 40.90% to 40.30%. While MTN was...
The Central Bank of Nigeria (CBN) has floated Tertiary Institutions Entrepreneurship Scheme (TIES), a new grant scheme in order to tackle the country's alarming unemployment rate. Unlike several other existing grants in the country, the TIES is a N500 million grant that would be accessible for students across tertiary institutions....
On Monday, November 29, 2021, Jack Dorsey announced that he had resigned from his role as the Chief Executive Officer (CEO) of Twitter, and Parag Agrawal would take over from him. While noting that his decision to resign from Twitter wasn't an easy one, Dorsey said he was handling it...
In a renewed effort to rid the Dangote Group of unscrupulous drivers who engaged in illegal haulage activities and others who constituted themselves into menace to other road users, the company’s drivers’ Patrol team, has made several arrests of drivers, and handed them over to relevant authorities. Dangote’s management, it...
The Senate has launched the probe of commercial banks across the country over excessive charges on their customers' accounts. In order to effect the ongoing probe, the ninth senate mandated the Senator Uba Sani, All Progressives Congress (APC), Kaduna Central-led Committee on Banking, Insurance, and other Financial Institutions, to carry out a...
Nigerian airline, Arik Air has retrenched over 300 workers. While making the disclosure, the airline’s Public Relations and Communications Manager, Adebanji Ola, in a statement said the company took the decision to downsize its workers due to the COVID-19 pandemic which has caused the airline a major setback financially. The statement...