BARRING any last-minute change in plan, the $20bn Dangote Oil Refinery would be listed on the Nigerian Stock Exchange by December 2024. The Chairman of the Dangote Group, Aliko Dangote, maintained that as a new business, he would love to have Nigerians, Africans and other investors as shareholders in the refinery, stressing that he wants to allow them to join in making what he called a historic move. The African richest man made this disclosure while speaking with the Africa Report in a video sighted by this newspaper. “The listing, most likely, I won’t be surprised if we list (on…
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UBA Pays Total Dividend Of N95.8bn, Translating To N2.80 Per Share In 2023 SHAREHOLDERS of Africa’s Global Bank, United Bank for Africa (UBA) Plc, have praised the board, management and staff of the Bank on the impressive performance recorded over the past years and especially in 2023, culminating in the payout of N78.7bn as final dividend for the 2023 financial year. The shareholders took turns to express their delight during the bank’s 62nd Annual General Meeting which was held at the Congress Hall of Transcorp Hotels in Abuja on Friday. The shareholders overwhelmingly approved the Board of Director’s proposal to…
THREE people have died and seven others were rescued from the rubble of a collapsed mosque in the Papa Ajao area of Mushin, Lagos State, on Sunday. The Permanent Secretary of Lagos Emergency Management Agency (LASEMA) Femi Osanyintolu in a statement said the mosque located on Yusuf Street, Off Ladipo Road, Papa Ajao, collapsed while prayer was ongoing. “Following an extensive exercise, the final casualty report on the above incident is that three fatalities and seven casualties varying in severity. The affected buildings have been leveled to ground zero,” he said. “Responders at the scene of the incident include the…
MANY worshippers have been feared dead in a mosque which collapsed in Lagos State, on Sunday. Details of the incident are still sketchy but this newspaper gathered that the mosque which caved in is on Yusuf Street, Papa Ajao, Mushin. Contacted, Nosa Okunbor, Public Relations Officer of the Lagos State Emergency Management Authority (LASEMA), confirmed the incident to this newspaper, saying rescue mission was ongoing. “Our men are on ground as I speak to you. Rescue mission is ongoing. That’s all I can say for now,” he said on the phone.
GROUP Managing Director and Chief Executive Officer of United Bank for Africa Plc, Oliver Alawuba, has hailed the Chairman of the global financial powerhouse, Tony Elumelu, and other stakeholders for the success recorded by the bank in its 75 years of existence. He spoke at a global press conference in Lagos to mark the beginning of the one-year activities planned for the celebration. The conference, on Monday at the Tony Elumelu Amphitheatre at the UBA House, also had Alawuba listing some of the firsts recorded by the bank in its 75 years journey. The event also showcased the bank’s history…
DANGOTE Cement has been honoured with the top prize at the inaugural Corporate Reporting Award, jointly organized by the Institute of Chartered Accountants of Nigeria (ICAN) and NGX Regulation Limited. The leading cement manufacturer received the Platinum award for excelling across all three reporting categories, showcasing exemplary reporting practices that comprehensively address all relevant aspects of corporate reporting. According to the organisers, the scoring criteria involved a combination of average scoring and assessments from individual judges. In addition to the Platinum award, Dangote Cement also clinched the Best in Class Award for Excellence in Corporate Governance, surpassing other nominees such…
THE Lagos High Court sitting in Ikeja has granted the request of the defence team to recall the first prosecution witness in the trial of a former governor of the Central Bank (CBN) Godwin Emefiele over allegations of abuse of office Justice Rahman Oshodi granted the request at the instance of counsel to Emefiele’s co-defendant Kazeem Gbadamosi (SAN). Gbadamosi had notified the judge of his application dated May 6 and sought the indulgence of the court to recall the first prosecution witness Monday Osazuwa. On April 12, Osazuwa, a staff of the CBN had narrated in court how the former…
A FIRE has been reported at the new NNPC Terminal, formerly OVH, Kayode Street, Marine Beach, in the Apapa area of Lagos State. According to reports, the Lagos State Fire and Rescue Service is attending to the fire, which resulted from a spillage of petroleum products within the perimeter of the tank farm. As of the time of filing this report, the Director and Chief Executive Officer, Lagos State Fire Service, Margaret Adeseye, told Channels Television, that concerted efforts to contain the situation with various emergency responders within the oil and gas industry, were ongoing. As of 15:10 hours Friday,…
AN aircraft belonging to Xejet Airlines on Saturday skidded off the runway at the Murtala Muhammad International Airport, Lagos. The incident happened after landing at Runway 18L when it skidded off the Runway into the grass verge by B5 Aircraft. The E145 aircraft departed the Nnamdi Azikiwe International Airport, Abuja, with 52 passengers and two crew members on board. “Fire and Rescue on ground to help in evacuation of the passengers. At the moment Runway18L is closed to traffic,” a source said. The Nigerian Safety Investigation Bureau (NSIB) has confirmed the incident, saying its investigators had been deployed to the…
TUNDE Hassan-Odukale has stepped down as the Chairman of First Bank of Nigeria Limited. Updating the Nigerian Exchange Group of recent development within the bank, the company’s Secretary, Adewale Arogundade, in a notice on Thursday, said Hassan-Odukale’s exit followed the completion of the cumulative number of years, which is 12 years for a non-executive director, in line with the Central Bank of Nigeria’s Corporate Governance Guidelines. “Consequently, the Board of FirstBank has appointed Mr Ebenezer Olufowose, a Non-Executive Director, as the new Chairman of the Board of Directors of First Bank of Nigeria Limited,” the notice partly read. Hassan-Odukale, who…
UNITED Bank for Africa Plc (UBA), Africa’s global bank, has unveiled its unaudited financial results for the first quarter ended March 31st, 2024 showing very strong growth across key performance measures. The Group’s results, which were released to the Nigerian Exchange Limited (NGX) on Friday May 3rd, 2024, saw outstanding year-on-year increases: Gross Earnings rose by 110%, from N271.1billion to N570.2 billion; Interest Income grew by 130%, to N440.7 billion. Operating Income increased by 115%, from N175.7 billion in 2023, to N378.59 billion. Further consolidating the record performance delivered in the Group’s 2023 Full Year Audited Financials, UBA again saw…
ALIKO Dangote Foundation (ADF), in conjunction with the World Economic Forum (WEF) and Forum of Young Global Leaders (YGL), has unveiled gifted and high calibre individuals for the esteemed 2024 class of the World Economic Forum Young Global Leaders (YGL) Dangote Fellows. ADF and WEF, in a release, said, “With great excitement and anticipation, ADF and WEF announce this year’s cohort, a group of visionary leaders poised to make impactful contributions to global development, innovation, and leadership. The WEF YGL Dangote Fellowship, a partnership between the Aliko Dangote Foundation and the World Economic Forum, identifies, engages, and supports outstanding individuals…
TO enhance passenger facilitation at airports across the country, the Federal Airports Authority of Nigeria (FAAN) and the Office of the National Security Adviser (ONSA) have concluded plans to end the era of multiple physical checks at the nation’s airports. This is coming amidst the rising number of military and paramilitary personnel at the country’s international airports despite complaints from passengers and stakeholders. As far back as 2017, the federal government had ordered the stoppage of multiple checks at the major international airports. But despite the order, passengers are still being subjected to multiple checks. The Managing Director of FAAN,…
DSTV and GOtv customers in Nigeria have been notified to expect disruption in service from Sunday, May 5, to Tuesday, May 7, due to the ongoing construction project on the Lagos-Calabar Coastal Highway. In a notice shared on social media on Friday, DStv assured customers that its technical team will be working to relocate its facility and minimise service disruptions during the process. The statement read, “Our uplink facility will be impacted by the ongoing Lagos-Calabar Coastal Road construction project. As a result, we are forced to relocate. “From Sunday, May 5, 2024 to Tuesday May 7, 2024, our technical…
Shareholders Commend Board, Management As Company Delivers Another Record-Breaking Year TRANSCORP Hotels Plc (“Company”), the hospitality subsidiary of one of Africa’s leading, listed companies, Transnational Corporation Plc (Transcorp Group, Monday April 29, 2024 held its 10th Annual General Meeting (AGM) where the Company’s impressive 2023 performance was presented to shareholders. The results showed Transcorp Hotels’s continuous growth, as well as new revenue and profit records set in the year under review. The AGM held at Transcorp Hotel’s flagship property Transcorp Hilton Abuja. As contained in the Company’s annual report, revenue grew by 36.2% to N41.46 billion in 2023 from N30.44…
THE management and staff of Barnksforte Technologies Ltd has felicitated with the Director-General of the National Identity Management Commission (NIMC), Engr. Abisoye Coker-Odusote on her 40th Birthday. This was contained in a statement signed by the Team Leader, Brand and Communications, Barnksforte Technologies Ltd, Famuyide Olumide, made available to News Point Nigeria, Friday. According to the statement, under the leadership and guidance of Coker-Odusote, NIMC has achieved remarkable milestones, empowering citizens with secure and reliable identity management solutions. “Your leadership at the National Identity Management Commission has been truly exceptional, guiding the organization with wisdom, vision, and unwavering dedication. “As…
STRATEGIES adopted by Dangote Cement to increase sales and ensure an adequate supply of products to customers are yielding the desired results as domestic sales volume increased, by 26.1 percent to 4.6Mt in the first quarter of 2024. According to the cement manufacturers’ unaudited results for the three months that ended, on April 30, 2024, the Nigerian operations volume rose significantly and positively affected the rise in the Group’s overall volume to 7.0 Mt. The company recorded a Group revenue of N817.4 billion, even as profit after tax inched, up by 2.9 percent to N112.7 billion. Earnings per share closed…
THE Minister of Aviation, Festus Keyamo, has directed the Nigerian Civil Aviation Authority (NCAA) to suspend Dana Air, a day after one of the airline’s planes skidded off the Murtala Muhammed Airport, Lagos runway. The minister also ordered a comprehensive audit of the airline. The audit will encompass all aspects of safety protocols, maintenance procedures, and financial health to ensure full compliance with the aviation sector’s regulations. In a letter to the NCAA Director-General titled ‘Immediate Suspension of Dana Air Pending Safety and Financial Health Audit’, the minister said the move was necessary to ensure safety and regulatory compliance. “As…
THE Federal Airports Authority of Nigeria (FAAN) said it has re-opened the runway 18L/36R at the Murtala Mohammed Airport in Lagos for flight operations. The runway was temporarily closed after a Dana Air plane skidded off it on Tuesday. FAAN’s Director of Public Affairs and Consumer Protection announced this in a statement. According to her, prompt actions were taken by FAAN’s emergency response team to evacuate and recover the aircraft from the site. Subsequently, comprehensive clearing operations were conducted to ensure the runway was free of any Foreign Object Debris (FOD) that could impede flight safety. She added that the…
AN aircraft belonging to Dana Air has skidded off the runway in Lagos State. The incident happened around 10:14 a.m, with emergency responders including the airport’s Aerodrome Rescue and Firefighting Services (ARRFS) mobilised to the scene. However, passengers were evacuated unhurt, using the emergency exit gate while the aircraft was stuck in the grass near the runway as of press time. It is not clear what was responsible for the runway incursion as of the time of filing this report while investigators from the Nigerian Safety Investigation Bureau (NSIB) have been deployed to the scene. A source in NSIB told…