Olawoyin Oladeinde

Posts by Olawoyin Oladeinde:

Hadiza bala Usman

I’m ready for probe – NPA boss, Hadiza Usman

The Managing Director of the Nigerian Ports Authority, NPA, Hadiza Usman, has denied any investigation of the agency by the Presidency. In a statement signed by the NPA boss on Thursday, Ms. Usman said she had nothing to hide, and was ready for probe. The NPA boss said she would…

Arik Air. (Photo Credit: Punch)

AMCON condemns workers’ union over Arik airline shutdown

The Asset Management Company of Nigeria, AMCON, has condemned the actions of aviation unionists who staged a protest at the headquarters of Arik Air Thursday. Jude Nwauzor, AMCON’s Head of Corporate Communications, while speaking during a telephone interview with PREMIUM TIMES Thursday, said the disruption of activities at the airline’s…

Arik Air. (Photo Credit: Punch)

AMCON takeover has worsened Arik airline’s situation – Aviation Union

The National Union of Air Transport Employees, NUATE, says the takeover of Arik airline by the Asset Management Corporation of Nigeria, AMCON, has worsened the crisis facing the airline. Olayinka Abioye, General Secretary of NUATE, made this known to PREMIUM TIMES in an exclusive interview during the shutdown of the…

Aviation unions protesting at Arik

More troubles for Arik Air as workers shut down operations

Aviation unions on Thursday shut down Arik Air‎, the largest airline in Nigeria. The unions, which include the National Union of Air Transport Employees, Air Transport Services Senior Staff Association of Nigeria and the National Association of Aircraft Pilots and Engineers, on Wednesdy threatened to shut down the airline following…

Arik Air. (Photo Credit: Punch)

Aviation unions to shut down Arik Air Thursday

Aviation unions will shut down the operations of Arik Air on Thursday, PREMIUM TIMES has learnt. The unions, which include the National Union of Air Transport Employees, Air Transport Services Senior Staff Association of Nigeria and the National Association of Aircraft Pilots and Engineers, said they would shut down Arik…

Sunil Sawhney

Seven-Up Plc gets new vice chairman

The board of directors of Seven-Up Bottling Company Plc has announced some changes in the firm’s leadership. A statement released by the company on Tuesday stated that the managing director, Sunil Sawhney, had been elevated to the position of vice chairman with effect from April 1. Mr. Sawhney served in…

CAdbury products on a shelf

Cadbury Nigeria Plc announces N562 million loss for 2016

Cadbury Nigeria Plc reported a loss before tax of N562.9 million for the 2016 financial year, documents filed to the Nigerian Stock Exchange, NSE, have shown. Analysis of the figures showed that the loss represents a 136 per cent drop compared to 2015 performance, when it reported a profit of…

The man's car was pulled over by his driver before he jumped into the lagoon

Body of doctor who jumped into Lagos Lagoon recovered

The body of a man who jumped into Lagos Lagoon has been recovered, PREMIUM TIMES can report. Allwell Orji, a medical doctor, jumped into the Lagos Lagoon Sunday evening after ordering his driver who drove him to the bridge to pull over. Efforts by the various emergency management agencies to…

Nigerian Governors Forum

Lower oil prices, sabotage reduce revenue shared by federal, states, local govt by N36 billion

Nigeria's distributable government revenues fell to N429.127 billion naira in February from N465.19 billion in January due to lower oil prices and other factors, PREMIUM TIMES understands. A statement by the Office of the Accountant General of the Federation said that the fall in revenue was equally compounded by sabotage…

GSK HQ [Photo: The Business TImes]

GSK gets new Managing Director

GlaxoSmithKline, a global health care company, on Tuesday announced the appointment of Bhushan Akshikar as its managing director. Mr. Akshikar, according to a statement released by the company, joined the Nigeria business in January 2017 from Mumbai, India, where he held the position of Executive Vice President, GlaxoSmithKline, India. The…

Power_pole

Why some Lagos communities have no electricity – Ikeja Electric

The Ikeja Electric, IE, on Tuesday attributed the current power outage in Lagos communities under its network to heavy rainfall which destroyed its equipment. Felix Ofulue, Head of Corporate Communications, IE, said the March 20 night rainfall affected its operations, leading to blackout. ‎ A statement released by Mr. Ofulue…

Peterside Atedo, Stanbic IBTC bank Chairman

Atedo Peterside resigns as Stanbic IBTC Bank Chairman

Atedo Peterside has resigned as the chairman of Stanbic IBTC Bank Plc. Mr. Peterside served as the Chief Executive Officer of the bank from inception in 1989 and later as Chairman after the merger that created Stanbic IBTC Bank Plc in 2007. A letter sent to the board Tuesday said…

Bureau De Change

Naira to exchange at N415 to dollar – Bureau De Change operators

The Association of Bureau De Change Operators of Nigeria, ABCON, has said that the naira would eventually trade at N415 to a dollar as the series of intervention by the Central Bank of Nigeria, CBN, are sustained. Aminu Gwadabe, president of ABCON, speaking with the News Agency of Nigeria in…

Femi Otedola

Forbes 2017: Otedola falls off world’s billionaire list

Nigerian cement tycoon, Aliko Dangote, is still the richest black person in the world with a fortune estimated at $12.2 billion, the 2017 FORBES list of the World’s Billionaires has shown. According to the list released on Monday, Mr. Dangote was followed by Saudi-Ethiopian construction magnate, Mohammed Al-Amoudi, who is…

the-world-bank

World Bank approves $57 billion for Nigeria, other Sub-Sahara African countries

The World Bank Group has announced the approval of $57 billion for Nigeria and other sub-Saharan African countries for the next three years. A statement posted on the bank's website on Monday said the World Bank Group President, Jim Yong Kim, made the announcement before leaving for a trip to…

nigerian_stock_exchange

NSE partners Access Bank to celebrate Global Money Week

As part of its efforts to promote financial literacy and inclusion in Nigeria, the Nigerian Stock Exchange, NSE, in collaboration with Access Bank Plc will commemorate the 2017 Global Money Week. The event, themed "Learn. Save. Earn" with a series of educational programs is put together to raise awareness and…

Keystone

AMCON names new buyers of Keystone Bank

The Asset Management Corporation of Nigeria, AMCON, has announced Sigma Golf Nigeria Limited and Riverbank Investment Resources Limited (the Sigma Golf-Riverbank Consortium) as the new investors in Keystone Bank. The announcement came amid controversies surrounding the sale of the bank, with AMCON alleged to be acting in breach of extant…

Solar Panel Credit: SlashGear

Firm to invest $280 million in solar power plants‎ in Nigeria

A Paris-based independent power producer, Greenwish Partners, is set to invest $280 million to build solar power plants in Nigeria. Bloomberg news agency reports that the investment is expected to start producing electricity in the first quarter of 2018. Charlotte Aubin-Kalaidjian, Chief Executive Officer of the company, said a plant…

Nigerian Stock Exchange (NSE)

Experts want Nigerian businesses to adopt transparency in operations

Business and economy experts and stakeholders have canvassed for the promotion of corporate governance and sustainability among business owners and companies around the country. The stakeholders who spoke at a one-day seminar tagged "Sustainability and Corporate Governance: Building long term Value", also reiterated the importance of disclosures by corporate organisations.…

Queens College

Queens’ College postpones resumption amid disease outbreak

Following the health crisis rocking Queens' College, Lagos, resumption of academic activities at the school has been postponed indefinitely. There had been an outbreak of water borne diseases in the school, leading to deaths of students and panic among parents. PREMIUM TIMES reported that two students have died since the…

The man's car was pulled over by his driver before he jumped into the lagoon

Body of man who jumped into Lagos Lagoon not yet found

The body of the man who jumped into Lagos Lagoon on Sunday evening is yet to be found, PREMIUM TIMES can report. A man identified simply as Orji had on Sunday evening jumped into the Lagos Lagoon after being driven to the Third Mainland bridge by his driver. Mr. Orji,…

The man's car was pulled over by his driver before he jumped into the lagoon

Man jumps into Lagos Lagoon

A man identified as Orji has jumped into the Lagos Lagoon, PREMIUM TIMES has gathered. The man, who was reportedly driven to the spot by a driver, jumped into the Lagoon via the Third Mainland bridge. Mr. Orji, identified as a medical doctor, reportedly ordered his driver to pull over,…

Queens College

Queens College health crisis: Old students want resumption postponed

The Unity School Old Students' Association, USOSA, has called for the declaration of public health emergency at Queens College, Lagos. A statement released by Chidi Odinkalu, president-general of the association, said pending independent certification of the school as safe for human activity, it should remain closed. According to the statement,…

Central bank of Nigeria

Businesses, Experts react to CBN policy on deposit, withdrawal charges

The recent decision by the Central Bank of Nigeria, CBN, to reintroduce various charges on large cash transactions in deposit money banks has generated mixed reactions by Nigerians, PREMIUM TIMES investigations have revealed. The regulator in February unveiled a new banking policy requiring Nigerians who make cash deposits or withdrawals…

NAFDAC office

Fire engulfs NAFDAC office

The premises of the National Agency for Food and Drug Administration and Control (NAFDAC), Oshodi, was on Saturday razed by fire. The fire, according to the Lagos State Emergency Management Agency (LASEMA), started from the power house of the agency around 3.15 p.m. Adesina Tiamiyu, the general manager of LASEMA,…