Airtel Africa Limited plans to raise gross proceeds of $750m through its listing on the main market of the London Stock Exchange, it said on Tuesday. Confirming its intention to float, Africa’s second-largest mobile operator said it would freely float at least 25 per cent of its shares as it looks to pay down its […]

The gross federally-collected revenue of N2.309tn recorded in the first quarter of 2019 fell short of the proportionate quarterly budget estimate of N3.321tn by 30.5 per cent. It fell below the receipts in the preceding quarter by 4.2 per cent. The decline, relative to the proportionate quarterly budget estimate, was attributed to the shortfall in […]

Keystone Bank Limited has reaffirmed its commitment to providing support for the real sector. In a statement, the bank said it recently partnered Facebook via its partners, Rabbington Media, to organise a capacity building training in digital marketing for its Micro, Small and Medium Enterprises customers in Lagos State. According to the lender, the training […]

Digital banking is increasingly becoming a threat to the traditional banking system, the Chartered Institute of Bankers of Nigeria has said. The CIBN stated in its 2018 annual report that the emergence of digital banking platforms continued to threaten the brick and mortar system of banking. “In years to come, banks that leverage on the […]

The Federal Government has commenced the process for the preparation of the 2020 budget with a directive to Ministries, Departments and Agencies to avoid inflating their personnel budget. The government also issued a warning to chief executives of all agencies of the government against the introduction of ghost workers in the personnel payroll, adding that […]

The Nigerian Civil Aviation Authority says it has revoked the Airline Transport Pilot’s Licence of a pilot, working for one of the charter airlines in the country for violation of the Nigeria Civil Aviation Regulations (Nig.CARs). Although the regulatory agency did not give the name of the airline, it however, stated that the revocation was […]

Nearly half of the Liquefied Petroleum Gas, also known as cooking gas, consumed in the country in the first three months of the year was imported from India and five other countries. The country, which is home to the largest natural gas reserves in Africa and the ninth largest in the world, has continued to […]

President Muhammadu Buhari and his party, All Progressives Congress, made several promises before the 2015 general elections that eventually brought Buhari to power. Buhari also made a lot of promises when he assumed office in 2015, especially in the oil and gas sector. Industry observers stated that considering the enormous importance of the oil sector, […]

The nation’s stock market gained N2.73bn last month amid weak investor sentiment as the listing of MTN Nigeria Communications Plc on the Nigerian Stock Exchange buoyed market performance. The market recorded positive performance for six straight days after the MTN listing, as the market capitalisation of equities listed on NSE surged to N13.864tn on May […]

MTN’s largest shareholder, Public Investment Corp., is pushing for the restructuring of the leadership of mobile phone company to avoid the regulatory, legal and political disputes on the continent. The PIC built a 26 per cent stake in Johannesburg-based company in late November and used the opportunity to call for the replacement of the Board […]