Low oil prices hit Chevron, ExxonMobil earnings
Low crude prices and weak refining margins weighed on third-quarter profits at US oil giants ExxonMobil and Chevron according to result released weekend. But the heavy impact of the industry’s slump on company performance may have bottomed out, as earnings…
Innoson divests into ICT, secures $300m credit for STBs
Leading indigenous auto manufacturing group, Innoson Group has join the league of Set-Top-Box (STBs) providers for the smooth migration of the country from analogue to digital television viewing experience for Nigerian come June next year. The group said it has…
MTN acquires Smart Village from Multichoice
The MTN Group has concluded its acquisition of fibre networks company, Smart Village. One year after MTN disclosed its plans to acquire Smart Village from Multichoice, the telecoms giant has completed the acquisition of fibre Networks Company. Smart Village is…
30 per cent of forex burnt on fuel imports – Adeosun
More reasons on why forex scarcity has defiled many fiscal policies of the government have been revealed. The Minister of Finance, Mrs. Kemi Adeosun, weekend said that 30 per cent of the Nigeria’s demand for foreign exchange was for fuel…
FG plans veiled sale of refineries’ with private sector input in $1.8bn rehab
One of the highlights of the road map for the development of the nation’s oil and gas industry, unveiled by President Muhammadu Buhari in Abuja weekend was to spend between $1.4bn and $1.8bn to rehabilitate the nation’s refineries within two…
FG hails First Bank on new product, FirstGem
First Bank of Nigeria PLc, weekend unveiled a scheme tailored to drive women in financial inclusion and emancipation. Speaking at the launch in Lagos, Minister of Finance, Mrs. Kemi Adeosun said the FirstGem product, is very critical to the country’s…
Naira firms against dollar at interbank market
The Naira weekend appreciated against the dollar at the official interbank market, gaining 50k to exchange at N304.50, from N305 posted on Thursday. But at the Bureau De Change Segment of the market, the naira closed at N385 CBN controlled…
FirstBank targets financial literacy on World Savings Day tomorrow
First Bank of Nigeria has again deepened the financial inclusion drive of the CBN in terms of number of people that have banking relationship with financial institutions. FBNHoldings, Nigeria’s most diversified financial services group, through its subsidiaries, First Bank of…
OPEC meets in Vienna, may review freeze on production
Members of the Organisation of Petroleum Exporting Countries (OPEC) Friday met in Vienna or talks about a possible freeze on production. Ahead of the meeting, Iranian representatives said the country had no plans to limit oil output. However, further details…
Guinness ups first quarter revenue by 6%, LAT grows to N2.2bn
Guinness Nigeria Plc weekend announced a revenue increase of 6 per cent for the first quarter of its financial year ended September 30, 2016. The company said the increase was driven in part by contributions from its new mainstream and international…
