Oil multinational, Chevron Nigeria Limited has announced the appointment of Richard Kennedy as its new Chairman and Managing Director. With this disclosure, Kennedy succeeds Jeffrey Ewing, who recently moved into a new role outside Nigeria in Chevron’s Middle East, Africa and South America Region. Kennedy’s appointment which had already taken effect...
Chams Plc is struggling to survive under Managing Director, Gavin Young, as revenue fell by 63.8% in the third quarter of 2020. The information available to Unmask NG has it that Chams Plc's revenue failed to surpass the NGN847.4 million of last year Q3, after generating NGN306.7 million in 2020...
Information reaching Unmask NG has it that there's an ongoing dispute between board members of Jaiz Bank. According to our sources, they are all at loggerheads over the re-appointment of Hassan Usman, as the financial institution's Managing Director (MD). Recently, Jaiz Bank moved to appoint Muhammad Shaheed Khan as a...
Following Transcorp Hilton’s decision to cut down its workforce by 40%, staff members of the hospitality company have begun an indefinite strike action. Recall that Dupe Olusola, the Managing Director, Transcorp Hotels Plc, had lamented how the firm was affected by the raging COVID-19 pandemic. Hence, according to her, in...
MTN Group is making efforts to reduce its debt burden by leveraging Jumia and its stake in the African telecoms market. This move will also help the telco consider entering new frontiers. Information available to Unmask NG has it that MTN has an 18.9 percent stake in Jumia, a German-owned...
Commercial banks and mobile network operators, TELCOS have commenced discussion on how the Unstructured Supplementary Service Data (USSD) accumulated debt will be paid. In response to the development, the Chairman, Association of Licensed Telecommunication Operators of Nigeria, Gbenga Adebayo, said, “Discussions are ongoing and we are hoping that this will...
Managing Directors (MDs) of Portland paints and Chemical and Allied Products (CAP), Bolarin Okunowo, and David Wright, have respectively reacted to a proposed acquisition deal. Recall that Chemical and Allied Products was set to take over Portland Paints’ assets, liabilities, and business undertakings including its real property and intellectual property...
The Operators of the Lagos Bus Rapid Transit, Primero Bus Limited has suspended all operations in Lagos state. The Transport Company took to its twitter page to give reasons why actions were suspended. It explained that its actions were due to disruption of peace at the Owode Elede and Mile-12...
Not less than four banks have assisted the Central Bank of Nigeria (CBN) in imposing restrictions on the bank accounts that belong to #EndSARS protesters across the country. The banks including Guaranty Trust Bank (GTBank), Zenith Bank, United Bank for Africa (UBA), First Bank, Access Bank, amongst others, were debited...
Manufacturers of Dulux paint, and Caplux, Chemical And Allied Products (CAP) is planning to acquire UAC's Portland Paints. According to a statement made available to Unmask NG, CAP is set to take over Portland Paints’ assets, liabilities, and business undertakings, including its real and intellectual property rights. As seen in the...