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.

The chairman of Innoson Group, an automobile company, Innocent Chukwuma has expressed confidence that sooner than expected, GTBank (now known as GTCO) would belong to him. Speaking with journalists, Chukwuma said GTBank is owing to him N32 billion, adding that the money would soon surpass the financial institution's capacity to...
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...
Ecobank Nigeria Limited has warned Flour Mills of Nigeria Plc, against the proposed acquisition of equity stake in Honeywell Flour Mills Plc. According to the financial institution, purchasing an equity stake in Honeywell Flour Mills Plc is too risky considering the fact that Honeywell Group Limited, the parent firm, had...
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,...
The Chief Executive Officer (CEO) of Aero Contractors, Captain Ado Sanusi, has reacted to merging its company with Arik air. Recall that the Asset Management Corporation of Nigeria (AMCON) had plans to merge both companies due to the alleged debt burden of the airlines caused by the Coronavirus pandemic. With...
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...
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...
Nigerian Exchange Group (NGX) was launched  in Lagos on the 18th of May, to show its commitment to the African financial markets. The event which was titled “The Stock Africa Is Made Of” hosted some business moguls and captains of Industries, with the likes of Alhaji Aliko Dangote, GCON, Chairman, Dangote...
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...
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...