Business

SHOPRITE DENIES RUMOUR OF EXITING NIGERIA

ShopRite has today denied the rumour that made the rounds that it intends to close shop in Nigeria. The Country Director for Chastex Consult, Ini Archibong, in a telephone conversation with Vanguard, said: “Shoprite is...

BREAKING: FBN Holdings divests from insurance

FBN Holdings Plc, the holding company for First Bank of Nigeria and its former subsidiaries, has announced ongoing discussions to fully divest from its insurance arm, FBN Insurance Business Limited. In a regulatory filing at...

87% Nigeria’s Poverty Rate In North, World Bank Releases New Stat

The North accounted for 87 per cent of all the poor people in Nigeria in 2016, the World Bank has disclosed in a new report. The report titled ‘Advancing social protection in a dynamic Nigeria’,...

BREAKING: Stock Exchange delists two banks

Authorities at the Nigerian Stock Exchange (NSE) have just delisted two defunct banks- Skye Bank Plc and Fortis Microfinance Bank Plc, formally closing any window of shares exchange for the defunct banks. The delisting was...

US stocks gain on strong earnings, Google surges

Wall Street stocks rose early Friday following a batch of mostly good earnings and a mixed report on second-quarter US economic growth. Shares of Google’s parent company, Alphabet, surged nearly 10 percent, while Starbucks, McDonald’s...

M&As top options for insurance recapitalisation

• Shareholders fault government on emergency policy A significant number of insurance operators are currently considering mergers and acquisitions (M&As), in their quest to meet regulators new recapitalisation requirements. This is because available 2018 financials of about...

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