First Bank boardroom battle: CBN sacks all directors, sweeps Shobo aside reinstates Adeduntan as MD - newsheadline247
Brands Business

First Bank reacts to CBN’s sacking of its board, reinstatement of Adeduntan as MD

First Bank has for years been plagued by “bad credit decisions, significant and non-performing insider loans and poor corporate governance practices” The management of FBN Holdings PLC, the parent company of First Bank, says the holding company and the bank will cooperate with the new directive from the Central Bank of Nigeria. The was made Read more

Fear of AMCON takeover grips Otudeko’s Honeywell as First Bank shares fell by 6% - newsheadline247.com
Brands Business

Fear of AMCON takeover grips Otudeko’s Honeywell as First Bank shares fell by 6%

…CBN announcement may trigger an AMCON takeover of Honeywell Nigeria Plc if Oba Otudeko fails to repay his loans. First Bank Nigeria Holdings (FBNH) closed with a loss of -6.6%, placing it at the third position in the NSE ASI for Thursday, reports Nairametrics. After the appointment of the new Managing Director/Chief Executive Officer (MD/CEO) Read more

First Bank boardroom battle: CBN sacks all directors, sweeps Shobo aside reinstates Adeduntan as MD - newsheadline247
Brands Business

First Bank boardroom crisis: CBN sacks all directors, sweeps Shobo aside, reinstates Adeduntan as MD

…the action sends a negative signal to the market on the stability of leadership on the board and management The Central Bank of Nigeria (CBN) on Thursday announced the sacking of all board members/directors of First Bank Holding and First Bank Nigeria Limited.  Godwin Emefiele, the CBN governor, announced their query when he addressed the Read more

AGENCY REPORT Business

Cement: Dangote, BUA, Lafarge, accused of oligopoly as Senate seeks level playground for new entrants

AGENCY REPORT The Senate has called on President Muhammadu Buhari’s regime to provide more industrial incentives and protection, such as concessionary loans and larger tax incentives for new entrants into cement production. It said the measures would boost cement production, reduce price and encourage more valuable producers in Nigeria. The Senate’s resolution was sequel to Read more

Burkinabè billionaire, Inoussa Kanazoé tackles Dangote over cement market domination in Togo: Report - newsheadline247.com
Africa Business News

Burkinabè billionaire, Inoussa Kanazoé tackles Dangote over cement market domination in Togo: Report

Epic competition… In just a few short years, Kanazoé has become a player in the West African cement industry… After the successful development of industrial activities at Cim Métal Group, CEO Inoussa Kanazoé is now tackling the Togolese market. He intends to make his move in a sector dominated by the imposing figure of the Read more

Cannon Central & North Africa taps into potential value of print in Africa, appoints four new tier 1 business partners across region - newsheadline247.com
Brands Business Press Release

Cannon Central & North Africa taps into potential value of print in Africa, appoints four new tier 1 business partners across region

Press Release Signing of new business partners signals confidence in African resilience – and a further boost for future growth of print sector on the continent Dubai, United Arab Emirates, 20th April 2021 – Canon Central North Africa (CCNA) signals its intent to unlock the true value of the region’s print sector by signing four Read more

Standard Bank appoints Yinka Sanni as Chief Executive for Africa - newsheadline247.com
Brands Business News

Standard Bank appoints Yinka Sanni as Chief Executive for Africa

Sanni’s appointment is effective from today, 15 April. Africa’s largest bank by assets, Standard Bank Group, has appointed Yinka Sanni as its new Chief Executive for Africa Regions and a member of the Group Leadership Council. Sanni, the group’s Regional Chief Executive for West Africa, takes over from Sola David-Borha, who is retiring after 31 Read more

Cement Scarcity: Dangote, BUA for deliberately causing price hike, shortage - Distributors- newsheadline247.com
AGENCY REPORT Business Featured

Cement Scarcity: Dangote, BUA deliberately causing price hike, shortage – Distributors

AGENCY REPORT Some Residents in Kano and Katsina States have faulted Dangote Cement, BUA Cement, and Sokoto Cement for the prevailing scarcity and constant hike in cement price across the country. These residents told the News Agency of Nigeria that the situation had affected building projects and left bricklayers redundant. Kabiru Idi, a contractor, said Read more