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Tag Archives: Business

Air Peace loses N3bn over flight delays, damaged aircraft

— 25th April 2017 By Philip Nwosu and Louis Ibah Managing Director/CEO of Air Peace Limited, Mr. Allen Onyema, has decried the rise in passenger attacks on airline staff and assets in recent weeks at some local airports, saying the trend poses serious threats to the safety of airline operations in the country. Onyema, who stated this at a press …

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Stamp Duty not suspended with charges on cashless policy

— 25th April 2017 By Omodele Adigun The Central Bank of Nigeria (CBN) has dismissed the rumours making the rounds that Stamp Duty has been suspended alongside the new charges on cashless policy. According to its Director of Banking & Payments System Department, Mr. Dipo Fatokun, the suspension of the nationwide implementation of the excess withdrawal/deposit processing charges has nothing …

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PenCom appoints Dahir-Umar Acting DG

— 25th April 2017 By Maduka Nweke Following the replacement of the former Director General (DG) of National Pension Commission (PenCom), Mrs. Chinelo Anohu-Amazu, the organisation, yesterday, appointed Mrs. Aisha Dahir-Umar as Acting DG pending the confirmation of the DG designate by the Senate. According to the Head, Communication, PenCom, Emeka Onuora, Mrs. Dahir-Umar will steer the activities of the …

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Heritage Bank gives BB Naija 5 top finalists  investment support

In its continual commitment to boost the Small Medium Enterprises (SMEs) sector, Heritage Bank Plc, one of the sponsors of Big Brother Naija Season-2 reality TV show, yesterday, rewarded the five top finalists with financial investment support to enhance their entrepreneur drives. A statement from the bank said that Efe, Bisola, TBoss, Debbie Rise and Marvis, who were the top …

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Oracle signs lease fueling downtown Oakland expansion

OAKLAND — Oracle has signed a lease in downtown Oakland that enables the tech giant to expand its offices in the East Bay city and bolster its recruiting efforts, developers and brokers said Monday. The technology titan has leased 16,000 square feet at the 1330 Broadway office tower in downtown Oakland. “This is a big positive for downtown Oakland,” said …

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Bank accounts without BVN’ll be barred by August 1, says CBN

— 25th April 2017 Stories by Omodele Adigun As from August 1, all customers without Bank Verification Number (BVN) linked to their bank accounts will not be allowed to make withdrawal from those accounts, says the Central Bank of Nigeria (CBN). According to the apex bank, the measure becomes necessary as the absence of a unique identifier in the banking …

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Uber conference highlights big bet on ‘flying cars’

Sure, Uber’s cars are learning to drive themselves. But the next step is making them fly. Uber kicks off a three-day conference on “flying cars” Tuesday in Dallas, an elaborate show of force as the ride-hailing company seeks to nail down a spot at the forefront of the fast-growing industry. The event is expected to draw hundreds of vehicle manufacturers, regulators, investors and technology …

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Activists pressure Wells Fargo before shareholders meet

Activist shareholders of Wells Fargo on Monday demanded the besieged financial behemoth fully investigate the “systemic failures” that nurtured a culture of high-pressure sales tactics and unleashed a scandal over bogus bank accounts. The demands came a day before Wells Fargo’s annual shareholders meeting, during shareholders are expected to pepper bank chief executive officer Timothy Sloan with questions and comments …

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CSC moves to clear $1.5m debt

The Cold Storage Company (CSC) plant in Bulawayo Oliver Kazunga, Senior Business ReporterTHE Cold Storage Company (CSC) will next month convene a scheme of arrangement with its creditors including foreign creditors who are owed about $1.5 million. The ailing parastatal intends to turn its operations around riding on capital injection from the National Social Security Authority (NSSA), which will see …

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Zimpost eyes 5 percent market share

Kiyapili Sibanda, Business ReporterPOSTAL and courier service provider Zimpost has set a target of snapping five percent market share this year through its Zipcash electronic money transfer platform. Zipcash is Zimpost’s electronic money transfer service that is available at its more than 240 outlets around the country. The company said the target would be achieved through expanding partnership with players …

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