Category: Business

Polaris Bank Partners Amtis Skills Place to Empower Young, Next Generation Designers

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In its determination to produce the next generation of young designers who will go on to capture the imagination of the world in fashion, Polaris Bank partnered, with Amtis Skills Place, a body dedicated to producing contemporary vocational skills to young Nigerians to identify, train and mentor young designers through the 2024 Amtis Fashion Competition. Since its inception in 2015, Amtis Skills Place has been committed to equipping young Nigerians with vocational skills, bridging the gap between traditional education and the evolving job market. This year’s event, proudly sponsored by…

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LASAA’s new offices commissioned to boost operations

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Lagos State Signage and Advertisement Agency (LASAA) has launched new porta cabin offices located in Badagry Local Government Secretariat, Ikorodu Local Government Secretariat, Lagos Television premises and LASAA warehouse. This initiative aims to bring the Agency closer to its many clients and improve the regulation of outdoor advertising landscape, ultimately optimizing revenue generation for the State. Speaking at the launching of the new offices, the Managing Director/CEO of the Agency, Prince Fatiu Akiolu said they are extensions of the Agency’s branches across the State. According to him, “The porta cabins…

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Port Harcourt Refinery Begins Crude Oil Processing

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The Nigeria National Petroleum Company Limited (NNPCL) has announced that the Port Harcourt Refinery in Rivers State has officially commenced crude oil processing. The company’s Chief Corporate Communications Officer, Femi Soneye, shared the update, stating that the refinery will operate at 60 percent capacity, processing 60,000 barrels of crude oil per day. “Today marks a monumental achievement for Nigeria as the Port Harcourt Refinery officially begins crude oil processing,” Soneye remarked, describing the development as a milestone for energy independence and economic growth. He also commended the efforts of President…

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Fidelity Bank to give out N159million in GAIM 6 promo

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Leading financial institution, Fidelity Bank Plc, has announced that it will be giving out N159 million to lucky customers in its recently launched Get Alerts in Millions Season 6, (GAIM 6) promo. Speaking at the press conference to kick off the promo at the bank’s Lagos head office, Executive Director, Lagos & South-West, Fidelity Bank Plc and the Promo Committee Chairman, Dr Ken Opara, said that the aim of the promo was to build a culture of financial discipline and enable the bank’s customers improve their standard of living, achieve…

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N122m fraud: Ex- Polaris Bank manager remanded

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Abiodun Sanni, a former Branch manager of Polaris bank, Iju branch, was on Monday remanded in the correctional centre by a Lagos State Special Offences Court, in Ikeja, over alleged N122,011,441 fraud. Sanni was arraigned on 16 counts bordering on obtaining credit by false pretences, forgery, use of false documents and stealing by the Economic and Financial Crimes Commission. The EFCC’s prosecution counsel, O. Adewunmi, told the court that Sanni committed the offences on or about February 24, 2020, in Lagos. Adewunmi told the court that the defendant while he…

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$21m deposited in defunct Heritage Bank by MultiChoice written off

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The sum of $21m deposited in Nigeria’s Heritage Bank by MultiChoice Group Limited has been written off, following the financial institution’s liquidation earlier this year. This disclosure was contained in the company’s interim financial statements for the half-year ending September 30, 2024. The sum was classified as irrecoverable after the Central Bank of Nigeria revoked Heritage Bank’s operating licence, effectively shutting down the institution. The financial statement document read, “Following the revocation of Heritage Bank’s banking licence by the Central Bank of Nigeria on 3 June 2024 and its subsequent…

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Background checks can save employers from fraud, identity thefts -MICHAEL SAM WOBO

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Prince Michael A. Sam-Wobo is the lead consultant of Phoenix Risk Consult Ltd. Armed with professional trainings and certification in different areas of risk management which include Professional Diploma and Advanced Professional Diploma (Distinction) in Security Management and Strategic Operations from the International Institute of Professional Studies (IIPS) to mention few, he leads a team of associates in Security Risk Management and Consulting. With a proven track record of delivering customized security solutions for individuals, corporate bodies and public security organizations to mitigate identified risks,threats and vulnerabilities, he explains why…

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Multichoice loses 243,000 subscribers within six months

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Multichoice, the operator of DStv and GOtv, has reported a loss of 243,000 subscribers in Nigeria between April and September 2024, as part of a broader decline of 566,000 subscribers across its African operations. The company attributed the loss to Nigeria’s severe inflation rate, which has surpassed 30%, causing financial strain on many customers who can no longer afford the service. This decline follows a similar drop in subscribers earlier in the year, and the company is facing mounting criticism from Nigerian customers. Many subscribers are now threatening to switch…

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Court orders arrest of Dana Air MD over alleged N13billion fraud

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The arrest of the Managing Director of Dana Air, Mr. Hathiramani Ranesh, who is facing a criminal charge over his alleged complicity in a N13billion fraud has been ordered by the Federal High Court sitting in Abuja on Monday. Justice Obiora Egwuatu ordered the defendant’s arrest following his alleged refusal to appear before the court to enter his plea to a six-count charge the Federal Government preferred against him. The arrest order was anchored on section 184 of the Administration of Criminal Justice Act (ACJA), 2015. “The 1st defendant is…

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Harsh economy: ‘Pick N Pay’ sells 51percent stake to exit Nigeria

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South African grocery retailer, Pick n Pay has sold its 51 percent stake in a joint venture ahead of its exit from the Nigerian market. In an announcement made by it’s CEO, Sean Summers, he said the decision is part of a broader restructuring strategy outside its home market. Pick n Pay, entered Nigeria less than five years ago through a partnership with A.G. Leventis, currently operates two stores in the country. The grocery retailer dared to enter the Nigerian market four years ago when other giants in the retail…

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