Nigerian Unlisted Securities Gain 0.38%

By Dipo Olowookere The board of Capital Hotels Plc has announced the creation of an escrow account for the payment of about N1.6 billion to minority shareholders of the company. The hospitality firm is leaving the Nigerian Exchange (NGX) Limited after years on the nation’s main stock exchange. In a notice signed by Alex Ugwuanyi, the organisation said the account was created with CardinalStone Registrars Limited and has been sufficiently funded for payment “to shareholders” who “have accepted to exit” the firm by selling their holdings. Recall that in March 2023, shareholders of Capital Hotels approved the request of the

By Bliss Okperan A lady who reviewed a product of Erisco Foods Limited, Nagiko Tomato Mix, Mrs Chioma Egodi, has threatened to demand the sum of N500 million from the chief executive of the company, Mr Eric Umeofia, for violating her fundamental human rights. Mrs Egodi said she purchased the product at the market with the intention of using it to cook stew for her family. However, when she tasted it, according to her, it tasted too much sugar, prompting her to post about it on Facebook. It was reported that Erisco was not happy with the negative review. She

By Adedapo Adesanya The Federation Account Allocation Committee (FAAC) has shared a total of N1.1 trillion from the revenue generated by the nation in August 2023 for September to enable the three tiers of government; the federal government, states, and local government councils, to have funds to pay salaries and others. The allocation of the funds was confirmed by the Office of the Accountant General of the Federation on Friday following FAAC’s September 2023 meeting. According to a statement by the OAGF’s Director of Press and Public Relations, Mr Bawa Mokwa, there was “N1100.101 billion (N1.1 trillion) total distributable revenue.”

In 2023, there are over 500 binary options brokers worldwide, each with its unique offerings and trading platforms. Many people, especially beginners, wonder how to choose the best one. Traders Union (TU) experts have conducted a thorough analysis to help traders make the right choice, excluding unreliable brokers. The result is the Top 5 Best Binary Brokers for 2023, all licensed, offering a wide range of trading options, and ensuring favorable conditions for traders. This list aims to save time and protect traders from potential scams. Top binary options platforms Traders Union analysts regularly update the binary options trading platform

By Modupe Gbadeyanka The much-awaited two-day seminar on gemstones and exhibition of products and equipment is commencing today, Thursday, October 19, 2017, in Abuja. Expected to grace the occasion are the wife of the Vice President, Mrs Dolapo Osinbajo; wife of a former Head of State, Mrs Ajoke Murtala Mohammed; some members of the Federal Executives Council; and other stakeholders in the extractive industry. The two-day event, organised by the Ministry of Mines and Steel Development in partnership with African Gems and Jewellery and Seminar Limited as well as other stakeholders, would also feature training sessions on different aspects of

By Adedapo Adesanya Internet security solutions giant, Kaspersky, has revealed that phishing activities were diversified as it intensified during the COVID-19 outbreak lockdown with over two million attacks in the second quarter recorded in Africa. These and other findings were documented in Kaspersky’s new spam and phishing in Q2 2020 report. According to the analysis, a number of new tricks have also been found – from HR dismissal emails to attacks disguised as delivery notifications. As a result of such tendencies, security solutions detected 2,023,501 phishing attacks in South Africa, Kenya, Egypt, Nigeria, Rwanda and Ethiopia. Phishing is one of

By Modupe Gbadeyanka A company named Citygate Global Investment Limited has taken United Bank for Africa (UBA) Plc to court over what it called ‘illegal deductions’ from its account with the bank. In a suit, FHC/L/CS/407/2017, filed before Justice Oluremi Oguntoyinbo of a Federal High Court sitting in Lagos, the plaintiff urged the court to mandate UBA to pay N3.45 billion to it for the illegal and excess charges, general damages, and litigation cost. Citygate Global Investment Limited also wants the judge to give an order compelling the bank to publish an apology in five national newspapers for the said

Fidelity Bank Plc has been applauded for providing free medical outreach to 1,000 people in Misau Local Government Area (LGA) of Bauchi State as part of its Corporate Social Responsibility (CSR) initiatives. This commendation was given by wife of Bauchi State Governor, Hajiya Aisha Bala Mohammad, who urged the beneficiaries to regularly check their health status in order to reduce cases of diabetes, cancer, hepatitis, high blood pressure, amongst other ailments. The outreach was organised by the Al-Muhibbah Foundation in collaboration with staff members of Fidelity Bank and was held from June 20 – 21, 2019 at the Misau Secretariat

By Dipo Olowookere ‎Dubai-based airline operator, flydubai, on Friday made its inaugural flight to the Kilimanjaro International Airport (JRO), increasing capacity to Tanzania and further expanding its network in Africa to 12 destinations. Flydubai said it would offer six flights a week to Kilimanjaro, three of which are via a stop in the capital, Dar es Salaam and will increase the total number of flights to Tanzania to 14 flights a week. The aircraft touched down at 07:45 (Kilimanjaro local time) and on board the flight was a delegation led by Sudhir Sreedharan, Senior Vice President, Commercial Operations (GCC, Subcontinent

By Modupe Gbadeyanka Seplat Petroleum Development Company Plc has announced the retirement of its Chief Operating Officer (COO), Mr Stuart Connal. Mr Connal retired from the company at the age of 60 years on Thursday, March 30, 2017. During his seven years in the firm, Mr Connal, who was also the Executive Director of Seplat, dedicated himself to the growth of the company. In a statement issued by Seplat, the board and management of the firm expressed their continued deep gratitude to Mr Connal for his “invaluable contributions to the growth and development of the company during his tenure, and

By Dipo Olowookere One information that is gradually gaining momentum in the nation’s stock market is the rumoured acquisition or merger between Zenith Bank Plc and Union Bank of Nigeria Plc. Both financial institutions are listed on the Nigerian Stock Exchange (NSE) and it is expected that speculations as this will catch the attention of their respective shareholders. On Saturday, it was rumoured that the Central Bank of Nigeria (CBN) has given Zenith Bank the go ahead to ‘swallow’ Union Bank, one of the oldest lenders in the country. This came few days after it was reported by a national

By Modupe Gbadeyanka A Court of Appeal sitting in Benin City, Edo State has directed the Bank of Industry (BoI) to vacate the premises of Austin Laz and Company Limited. Justice Mudashiru Nasiru Oniyangi, in a judgment dated May 17, 2018, upturned the ruling of a lower court that gave the investment bank the authority to take over properties of the ice block machine maker. In 2011, Austin Laz and Company went to the BoI for a N120 million five-year loan to facilitate the setting up of a new production. Chief Executive Officer of the firm, Mr Austin Lazarus Asinmonye,