Wednesday, December 1, 2021
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Corporate News

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

Adam kaka Adam, the former Branch Service Manager in charge of Vault Room and Automated Teller Machine (ATM) in Unity Bank Plc, has been sentenced to one-year imprisonment after being convicted for committing fraud. After being found guilty of one count of theft to the tune of N11,657,500.00, Justice Ibrahim Jauro...
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 National Insurance Commission (NAICOM) has said insurance companies would henceforth be sanctioned if it is guilty of huge unsettled claims. This disclosure was made at a meeting organised by the NAICOM and the College of Insurance and Financial Management (CIFM), which held in Lagos. In his presentation, Commissioner for Insurance,...
Union Bank of Nigeria Plc has been ordered to pay a N5.5 million fine for damages. Justice Winifred Effiong of a High Court of Akwa Ibom, sitting in Uyo, the state capital, found Union Bank guilty of the breach of agreement allegation brought before it by some customers of the...
There seems to be Panic in the air as Access bank investors begin to lose confidence due to customers closing their accounts. Recall that Access Bank, after receiving a directive from the Central Bank of Nigeria (CBN) blocked accounts of eight protesters who took part in the #EndSARS protest. Surprisingly, Access...
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...
Farmcrowdy Limited, over the weekend, celebrated its four years anniversary with new products launch. In commemoration of its anniversary, the leading agrictech company launched two new products -Farmcrowdy Foods, and the Farmcrowdy Trader. While introducing the new products, Founder and CEO, Farmcrowdy, Onyeka Akumah said the company will focus on the...
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...
Contrary to reports by Bloomberg that Dangote Cement was granted sole approval to export cement through the land borders, information has emerged that other companies also got approval to export through the land borders. Nigerian Customs Service (NCS) has reportedly revealed that BUA Group and a gas company have...
Harzoyka, an Indian restaurant located in the Ikeja area of Lagos, has been accused of discrimination against its female customers. According to Aisha Salaudeen, a CNN reporter who took to her Twitter page, to call out the restaurant over discrimination, Harzoyka would only allow ladies to come to feast only with...