Business

GLOBAL stocks fell on Friday as equity investors sought to cut exposure to risk after Greece and its creditors again failed to resolve their differences, paving the way for a last-ditch effort on Saturday to avert a default. Currency and bond markets took a more cautious stance, driven by expectations that negotiators could still “pull…

Assures shareholders of improved performance KAJOLA integrated Investment Plc has unfolded plans to raise additional capital through rights issue from existing shareholders. Speaking during the 2014 yearly general meeting of the company in Lagos at the weekend, the company Chairman, Professor Wale Omole explained that the company is currently restructuring its operations, as wells identifying…

THE financial services industry sector led the activity chart with 919.073 million shares valued at N8.388 billion in volume terms last week. The volume of shares traded in the sector, according to the Nigerian Stock Exchange (NSE) contributed to 63.89 per cent and 31.76per cent to the total equity turnover volume and value respectively. Following…

The Managing Director/Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim, has warned chief executives and stakeholders in the banking sector to pay attention to sound corporate governance practices as a foil against the 2009 systemic crisis’ recurrence. Ibrahim, who gave the charge in Lagos, while delivering an address at the 2015 Executive Breakfast Meeting of the Society for Corporate Governance Nigeria, identified the failure of sound corporate governance…

Sterling Bank Plc said it concluded arrangements to publish the names of individuals and institutions on its Non-Performing Loans (NPLs) portfolio on national newspapers. It also threatened to publicise the bad debtors further on the social media if they fail to pay repay loans obtained from the bank. The bank’s decision may be part of…

The nation’s Deposit Money Banks (DMBs) grew their assets and liabilities to the tune of N28.96 trillion in the month of April 2015, representing an increase of 0.9 per cent over the level at the end of March 2015.

Michael Ikpoki, in July 2013, emerged the first Nigerian Chief Executive Officer of MTN Nigeria. He was earlier appointed CEO of MTN Ghana in April 2011 after successfully heading MTN Nigeria’s Sales and Distribution Division as its Executive from 2006.  His appointment as the Chief Executive Officer of MTN Ghana made him the first Nigerian in the MTN Group to attain this height. Ikpoki obtained an LLB from Rivers State University of Science and Technology and called to the Nigerian Bar in 1991.Since then, he has continued to amass an impressive academic profile which includes various senior executive programmes at the Harvard Business School, INSEAD Business School and the Lagos Business School. Ikpoki joined MTN in 2001 as a Regulatory Affairs Advisor after a six-year stint with the Nigerian Communications Commission (NCC’s) Legal Division, where he was responsible for giving legal advice and making important input to telecommunications policy and regulation. Ikpoki oversees the largest telecommunications firms in Nigeria, which started operation in 2001 and currently has over 60 million subscribers. Lately, industry watchers, including competitors, are of the opinion that the rate at which the MTN Nigeria, which has a South African root, is going, other players in the industry may be smoked out. But Ikpoki, at a post-event interview with ADEYEMI ADEPETUN, thinks otherwise. According to him, telecommunications service is about competition, which is centered on better customer satisfaction. He also spoke on some germane industry issues. Excerpts.

What difference will membership status make on the company? I represent Moore Stephens International Limited (MSIL). The headquarters of Moore Stephens is in London, United Kingdom

THE Managing Director, Nestle Nigeria LTD, Dharnesh Gordhen has emphasized the inevitability of risk in any business endeavor, saying it is the DNA of a business enterprise. Gordhon, who was at the 10th edition of LEAP Africa (Leadership, Effectiveness, Accountability and Professionalism in Africa), urged Chief Executive officers of companies to identify and mitigate risk in order to maximize profit and to remain in business

NIGERIA is today generating 3,454 megawatts of electricity, which is said not to be enough for Lagos electricity consumers alone. That indicates a huge gap between demand and supply for the essential product.

The disbursement of the N70 million loan, which the Central Bank of Nigeria (CBN) granted the Abia State chapter of the Quintessential Business Women Association (Quintessential) was flagged off at the Michael Okpara University of Agriculture, Umudike, by the Vice Chancellor, Professor Hilary Edeoga.

ON April 1, 2012, indigenes of Obajana community, Kogi State, resident in Abuja held a meeting at the end of which they issues a communiqué urging the government and the management of Obajana Cement Plant to provide basic amenities for inhabitants of the host community. The convener of the meeting, Alhaji Tajudeen Bisimilahi, had explained…