Flour Mills of Nigeria: Reaping investment benefits as Agro-allied business reached profitability

Despite prevailing economic headwinds and the difficult operating terrain of Apapa, Flour Mills of Nigeria (FMN) Plc, owners of the popular Golden Penny Food brand and one of Nigeria’s leading food and agroallied companies reported strong growth in the year ended March 31 2020. With a remarkable growth in all three key segments of Food,…

Verod Group acquires AXA Mansard Pension

AXA Mansard Insurance plc has divested from its subsidiary, AXA Mansard Pensions Limited. After obtaining the shareholders’ approval at the company’s Extra Ordinary General Meeting held on February 13, 2020, the company commenced the process of divestment by appointing Messer Rand Merchant Bank as the Financial Advisers while Aluko & Oyebode acted as the Legal…

GLEIF reaffirms CSCS as the sole Local Operating Unit for Nigeria

The Global Legal Entity Identifier Foundation (GLEIF), the independent global body responsible for coordinating the issuance and management of Legal Entity Identifier (LEI) has completed its Annual Accreditation Verification (AAV), upholding Central Securities Clearing System (CSCS) Plc as the sole Local Operating Unit (LOU) for Nigeria and commending the Nigeria’s capital market infrastructure for its…

Improved use of robotics will spur economic growth – Robogarden

Robogarden, an artificial intelligence educational platform has urged stakeholders in the educational community to engage in increased use of robotics, artificial intelligence, digitalisation and advanced technology in order to aid the future generation on gaining skills especially for employability. Speaking during a webinar hosted by Ovana Elearning in collaboration with Robogarden themed “rights and voices…

Unilever to Separate Tea Business, Completes Horlicks & Boost Acqusition

Unilever Nigeria on Wednesday announced that its parent company plans to spin off its tea business across the company’s markets except in India and Indonesia whilst maintaining partnership interests in the ready-to-drink tea joint ventures. The move will see a €2 billion tea business become an independent company distinct from Unilever. Unilever makes Lipton, Lipton…

FBN Holdings to inject N25bn into FirstBank

FBN Holdings Plc said it is injecting N25 billion capital into the group commercial banking arm, FirstBank Limited. The Group Managing Director of FBN Holdings, UK Eke said it is in line with the Group’s mandate of delivering greater value to shareholders and strengthening the resolve to consolidate its leadership in the banking sector. He…

Motorola Solutions launches new device designed for Smes in sub Saharan Africa

Global leader in mission-critical communications, Motorola Solutions, has launched a new two-way radio device specially designed for small and medium businesses in sub Saharan Africa. The MOTOTRBO DP540 two-way radio is built for cost-conscious businesses looking to transition to digital technology for reliable and efficient communications. As demand for digital radio communication rises, small and…