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MultiChoice writes off $21m deposited in defunct Heritage Bank

15.11.2024
MultiChoice Group Limited has written off $21m deposited in Nigeria’s Heritage Bank following the financial institution’s liquidation earlier this year. This disclosure was contained in the company’s interim financial statements for the half-year ending September 30, 2024. The sum was classified as irrecoverable after the Central Bank of Nigeria revoked Heritage Bank’s operating licence, effectively...
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LG recognised at Korean National Day celebration

15.11.2024
LG Electronics has celebrated its recognition as a top 100 global company with its participation at the Korean National Day celebration in Abuja where it displayed its latest innovations. In a statement, LG said it was among four Korean companies recognised at a recent event held in Abuja by the South Korean Embassy where companies...
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Nigeria’s petrol imports surged in October – OPEC

15.11.2024
The volume of Premium Motor Spirit (petrol) imported into Nigeria surged in October, a report by the Organisation of the Petroleum Exporting Company says. This is despite the fact that the Dangote Petroleum Refinery started producing petrol in September this year. OPEC, in its Monthly Oil Market Report, said though petrol import still remains at...
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Firm to host local food festival

15.11.2024
A food brand, Firewood Rice Nigeria, has announced the debut of its local food festival aimed at preserving Nigeria’s culinary heritage, particularly jollof rice cooked over firewood. The Founder and Chief Executive Officer of Firewood Rice Nigeria, Chizoma Chikwueke, said the event, titled the “Firewood Jollof Festival,” will be held on November 30, 2024, according...
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Lasaco Assurance pays N6bn claims

15.11.2024
Lasaco Assurance Plc incurred claims of N6bn as of Q3 2024, a 19 per cent increase compared to the same period in the 2023 financial period, affirming its commitment to prompt claims settlement to its customers. The company continued to demonstrate resilience and strategic foresight as it navigates 2024 with remarkable financial performance, it said...
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Tantalizers appoints new GMD, DMD

15.11.2024
Fast food restaurant chain, Tantalizers Plc, has appointed a new Group Managing Director, Robert Speijer, and a Group Deputy Managing Director, Charles Ifidon, with effect from October 29, 2024. According to a statement signed by the acting Company Secretary, Eze Nwa-Uwa, filed with the Nigerian Exchange Limited on Thursday, the move is part of the...
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Taiwan unveils electric vehicles in Nigeria

15.11.2024
The Chief Missioner of Taiwan in Nigeria, Andy Yih-Ping Liu, has unveiled electric motorbikes to support Nigeria in its efforts to achieve a carbon-free environment. He said this initiative is part of Taiwan’s efforts to showcase its technological advancements and to empower Africa, including Nigeria, through technology. Speaking at a green mobility summit with the...
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UBA to raise N239bn via rights issue

15.11.2024
United Bank for Africa Plc has issued 6,839,884,274 ordinary shares of 50 kobo each at N35 per share in a rights issue to raise N239.4bn in a bid to meet the fresh capital requirements of the Central Bank of Nigeria. The rights issue which opened on Friday (today) allows existing shareholders to purchase one new...
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Tinubu may present N47tn 2025 budget to N’Assembly today

15.11.2024
The Federal Government on Thursday approved the Medium-Term Expenditure Framework for 2025 – 2027 and Fiscal Strategy Paper. According to the MTEF, the proposed 2025 budget size is N47.9tn, with new borrowings of N9.22tn, the Minister of the Budget and Economic Planning, Abubakar Bagudu, told State House Correspondents after this week’s Federal Executive Council meeting...
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I apologise for saying no heaven without tithe – Adeboye

04.10.2024
The General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adeboye, has apologised for saying that Christians who don’t pay tithe might not make it to heaven. Adeboye who had previously said that paying tithe was one of the prerequisites for going to heaven, apologised for the comment while addressing his congregation Thursday...

Protesters storm Rivers electoral commission, insist election must hold

04.10.2024
Angry protesters on Friday stormed the office of the Rivers State Independent Electoral Commission, singing and chanting ‘Election must hold’. They defied the heavy rainfall spreading canopies, while singing and drumming, with one side of the road blocked. The protest came after the Rivers State governor stormed the RSIEC in the early hours of Friday...

Man who asked Tinubu to resign admitted in psychiatric hospital

04.10.2024
The Adamawa State Police Command has disclosed that the 30-year-old Abdullahi Mohammed who climbed a 33 kv high tension electricity pole in Mayo-Belwa last Friday has been admitted at the Yola Psychiatric hospital for mental examination. The Police Public Relations Officer of the command SP Suleiman Nguroje, told Arewa PUNCH on Friday in an exclusive...

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