Sunday, October 24, 2021
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Corporate News

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

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...
As coronavirus continues to ravage the Nigerian economy, beverage companies appear to be in a storm. This, according to industry observers, is because thousands of jobs are at risk. Unmask NG understands that beverage companies in Nigeria are recording losses, an unexpected development that has crippled their operations. Speaking on the...
Sijibomi Ogundele, the Managing Director (MD) and Chief Executive Officer (CEO) of Sujimoto, a real estate company, recently granted an interview, where he talked about an investment opportunity in his firm. When asked if there is an investment opportunity in his company in view of the lingering novel coronavirus, Ogundele...
Ecobank Transitional Incorporated (ETI), and its Nigerian subsidiary, Ecobank Nigeria Ltd, may be sued for $100 billion or its naira equivalent. Those who are pressing for petitioning of the financial institutions are outsourced drivers, who were drawn from Integrated Corporate Service Limited (ICSL), FOSAD, Harvard Se- curity, KS Sharon, and...
A report read on the floor of Lagos House of Assembly, has uncovered how NIMCO construction company Ltd has been short-changing the state government. The report which detailed how NIMCO had defrauded the government to the tune of several hundreds of millions, which includes non-payment of tax, was read to...
ExxonMobil, an American multinational oil and gas corporation, has donated some vehicles to Akwa Ibom. Surprisingly, the vehicles which were donated for the state government to aid contact tracing of suspected COVID-19 patients, have been rejected. Disclosing why the vehicles were rejected, the state Information Commissioner, Charles Udoh, said the...
The 2020 financial projection for Transcorp Hotels Plc is no longer feasible. This indication emerged as the quoted hospitality company recorded a significant financial drop in revenue, in its first-quarter period for the year. As COVID-19 continues to ravage different sectors of the economy, including the hospitality sector, Transcorp's group...
Telecommunications giant, MTN Group has announced that it has reversed its 2020 budget downward. Having budgeted $1.5 billion as its capital investment for the year, the telco said it is necessary to cut down the budget to $1.1 billion. Reason for cutting down the budget According to the group, the decision to...