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Arik shareholders’ ambush FG, Ethiopian Airlines with N20bn suit over ‘veiled’ takeover

Airk Air

For being left incommunicado upon several media reports flying around on alleged plan between the Federal Government and authorities at Ethiopian Airlines to bundle away their investments in the company, shareholders of Arik Air Limited has filed a N20 billion suit against the federal government and Ethiopian Airlines. The suit was instituted late Friday last week, at the Federal High ...

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Banks’, payment companies suffered most cyber attacks in 2nd quarter—Report

Cyber attacker

Fresh report released by leading financial intelligence group, ThreatMetrix, has inferred that commercial banks and emerging payments management companies were most hit by cyber criminals in the second quarter (Q2) of 2017. This was contained in the latest report presented by ThreatMetrix, a global cyber security company. According to the 2017 Q2 Cybercrime Report made available to Business Hilights Economic ...

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Why Fidelity Bank posted 66% profit jump in audited Half Year results

Fidelity wins award

Managing director and chief executive officer of Fidelity Bank Plc., Mr. Nnamdi Okonkwo has linked the impressive performance of the tier 2 lender which jumped to double digits growth in earnings and profits to operational resilience, management discipline and tailored execution of the Banks medium term strategy. Business Hilights recalls that Fidelity bank’s had since mid last year keyed into ...

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FG owes Akwa Ibom over N140bn on completed road projects

Udom E

The Akwa Ibom State Commissioner of Works, Mr. Ephraim Inyang has decried federal government’s silence over the N140billion debt it owed the state for various federal roads projects it executed in the state. According to him, all efforts made so far in this present administration to recover the fund have remained futile as the debt is impacting negatively on the ...

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Expect real impact of recession exit in 2019—-PwC

PWC

Lead audit firm, the PricewaterhouseCoopers (PwC) Nigeria has given fresh insight that full economic recovery from recession in the country can begin to reflect in 2019, if sustained real sector investment is driven. Analysts at the multinational consulting firm, said empirical evidence suggests that it takes one year for real Gross Domestic Product (GDP) to recover to the pre-recession level. ...

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Fresh insight on why Alison-Madueke ran away since this administration emerges

Efcc magu

Contrary to earlier speculations that the former Minister of petroleum Resources, Mrs. Diezani Alison-Madueke had left the country immediately President Muhammadu won the 2015 presidential election on health ground, indications have emerged that her escape was in response to the fact that the promised fight against corruption will be too hot for her in particular. This stemmed from Thursday’s revelation ...

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I have no $1.2m London house as alleged—-Senator Stela Oduah insists

Stella Oduah

Senator representing Anambra West, Princess Stella Oduah, on Thursday, debunked fresh viral allegation that she bought a $1.2 million house in England while she was Minister of Aviation. While claiming that “it is untrue,” it would be recalled that the said report had alleged that the senator purchased the property under another name and that the ownership of the property ...

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DMO plans nationwide road show to drive N100bn Sukuk

DMO Oniha

The Debt Management Office (DMO), on Thursday announced plans to embark on a national road shows beginning with Lagos ahead of issuance of the much awaited N100bn non-interest bearing Sukuk bond. The road show is to create awareness about the sovereign Sukuk and sensitise target investors about its features and benefits. In a statement, the Director-General, Ms Patience Oniha, said ...

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Fidelity Bank donates hospital equipment in Bauchi, deepens CSR

fidelity-gmd

Fidelity Bank Plc., has stepped up its Corporate Social Responsibility (CSR) interventions using its special purpose vehicle known as Fidelity Helping Hands Project (FHHP). Recently in North Eastern part of the country, the FHHP donated hospital equipment and renovated a maternity and child welfare clinic in Kofaran, Bauchi State. The renovated health centre was unveiled by the Managing Director/Chief Executive ...

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Mixed reactions on recession exit compel NBS to deny doctoring data

NBS kale

Following barrage of negative reactions trailing the recent announcement that the economy exited recession at the end of second quarter, the National Bureau of Statistics (NBS), has come out to deny that its Gross Domestic Product (GDP) report was not politically motivated or doctored. The Statistician-General for the Federation and chief executive officer of NBS, Dr Yemi Kale stated this ...

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