23.7 C
Lagos, South Africa and New York
Saturday, July 4, 2020

CBN meets MTN, banks over $8 bln fund transfer -source

LAGOS/ABUJA, Nov 8 - Nigeria’s central bank plans to meet four lenders of telecoms company MTN to discuss a dispute over a $8.1 billion fund transfer, after a court adjourned the case, a banking source said. The central bank emailed invitations on Thursday to the...

Nigeria Fin tech Payment Firm Flutterwave Gets $35 Million Funding

By Ruth Olurounbi Flutterwave, an Africa-focused financial-technology company, said it raised $35 million and will work in partnership with WorldPay and Visa as it seeks to expand across Africa. The startup founded in 2016 and based in San Francisco, will become the African payment provider for...

Nigeria’s Biggest Bank Targets Acquisition Deals to Drive East African Expansion

By Emele Onu Guaranty Trust Bank Plc will consider acquisitions outside its home market as Nigeria’s biggest lender by market value seeks to expand on the rest of the continent. The company, which already has offices in 10 countries outside Nigeria, is looking to East Africa...

Indian firm eyes Nigerian expansion

Bajaj Electricals Limited has announced its plans to expand its footprint in Nigeria. This, according to the Indian firm, would be done by increasing the volume of its investments in Nigeria. Being a salient market in Africa and the world at large, the...

Sterling Bank’s N33bn bond listing to enhance trading in Nigeria’s secondary market

STERLING Bank Plc, Nigeria’s leading commercial bank has simultaneously listed the Sterling Investment Management SPV PLC ₦32.90 billion Series 2 on FMDQ OTC Securities Exchange and the Nigerian Stock Exchange (NSE). The bond which is unsecured with a tenor of seven years at a fixed...

Merger: Access Bank’s loan book rises to N3trn

By Michael Eboh & Ediri Ejoh Access Bank Plc said it now has the largest loan book in Nigeria’s banking industry, at over N3 trillion, following the successful conclusion of its merger with Diamond Bank. Executive Director, Retail Banking of the bank, Mr. Victor...

MTN Group targets $1 bln from asset sales as profit surges

* Headline EPS jumps 85 percent * Agrees to sell stake in Botswana venture for $300 mln * Plans to sell e-commerce ventures, towers * Shares rise more than 7 percent (Adds Nigeria listing, shares) By Tiisetso Motsoeneng JOHANNESBURG, March 7 (Reuters) - MTN Group plans to raise more...

DSTV considers not renewing EPL, UEFA Champions League rights

MultiChoice, parent company to DSTV and its SuperSport channel is said to be considering canceling its plan to renew rights to the English Premier League and the UEFA Champions League. Sources who spoke to ThisDay claimed that the company is considering the decision after its...

Oil Majors Face Tougher Legal Battle Over Corrupt Nigerian Deal

Oil majors including Exxon Mobil Corp. and Royal Dutch Shell Plc are facing uphill battles to convince U.S. courts to enforce multi-billion dollar arbitration awards they secured against Nigeria’s state oil company. The companies accused the Nigerian National Petroleum Corp. of taking more crude than...

Nigeria’s Oslo-Listed PetroNor to acquire more stake in Panoro Energy

Panoro Energy has struck a deal to sell its stake in Nigeria’s OML 113 to PetroNor E&P. Both companies are listed in Oslo. PetroNor has agreed to pay $10 million for the 6.502% stake in the Nigerian block, which will be paid in shares. There...
Open chat
Send us your story