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Corporate News

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

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...
Nigeria's telco giants MTN and Airtel have secured the nod from the Central Bank of Nigeria (CBN) to become financial technology (FinTech) firms. Confirming this development in separate statements seen by Unmask NG, MTN and Airtel disclosed that with CBN's Approval in Principle, they can now operate payment services in...
The reported fire outbreak at the Kogi State House of Assembly on Monday may have exposed the internal wrangling occasioned by deep-seated animosity between members of the Kogi Assembly and its leadership. Feelers are that majority of members of the House are said to be opposed to the various methods...
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...
Zenith Bank and GTB have been ordered to immediately grant Rise Vest Technologies Ltd, a fintech company, unfettered access to its accounts. An Abuja federal high court gave this order. as it faulted the Central Bank of Nigeria (CBN) for directing the banks to block Rise Vest from accessing its...
Bank customers and Point of Sale (PoS) operators in Zamfara, Katsina, Sokoto, and Kaduna states, have expressed their sadness over the untold hardship imposed on them by the ongoing halt of services by MTN, and other telcos. Sources in the affected states confirmed to Unmask NG that the ban of...
Access Bank has been accused of abuse of power after placing a restriction on the account of a company, Gatefield Nigeria Limited, for supporting the EndSARS protest in Nigeria. The restriction on the account comes amidst accusations that the government through the Central Bank of Nigeria (CBN) is cracking down...
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...
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...
Federal Capital Territory Administration (FCTA) has disclosed why L&N restaurant was shut down in Abuja. This follows a claim by the founder of the restaurant over the alleged closure of the restaurant. It all began when the founder of L&N restaurant, Layla Othman accused AMAC, of closing her restaurant while...