INNOSON: We Use 60 % Local Components

Innoson Vehicle Manufacturing Company (IVM) uses 60 percent of locally manufactured components in producing its vehicles, the Chairman, Chief Innocent Chukwuma has said From Emma Elekwa, Onitsha He said his firm produced vehicles according to customers’ demands. Related News: Chukwuma, who  spoke in Uru Umudim Nnewi, Anambra State while hosting the Chairman/CEO of Oilserv Group of Companies,  Emeka Okwuosa, said: “We make all the carcass … Continue reading INNOSON: We Use 60 % Local Components

Hard Times As COVID-19 Takes Toll On Supermarket Chains

The planned exit of Shoprite supermarket, the popular South African brand from the Nigerian market after a 15-year stint has been described as a bad omen for mostly foreign-owned retail businesses struggling to survive economic headwinds thrown up by coronavirus pandemic and other factors. Ibrahim Apekhade Yusuf and Charles Okonji in this report examine the issues. At the best of times, most businesses were merely scraping by … Continue reading Hard Times As COVID-19 Takes Toll On Supermarket Chains

‘Retail Is The Future Of Banking’

Chioma Afe is the Group Head, Group Retail Marketing and Analytics, Access Bank Plc. In this interview with Deputy Group Business Editor, Taofik Salako, Afe speaks on banking, economic development, financial inclusion and empowerment, among others One of the major gains envisaged from the merger of Access Bank and Diamond Bank was to create Africa’s largest retail bank. Are you there in facts? We are definitely moving … Continue reading ‘Retail Is The Future Of Banking’

Air Peace Cuts Pay By 40%, Sacks Pilots

Air Peace on Monday sacked over 70 pilots cutting across its fleet types  as the negative impact of COVID-19 pandemic continues to take a huge toll on its operations like other mega carriers in Europe, America, Middle East, Asia, Australia and other parts of Africa.  By Kelvin Osa Okunbor The airline said the decision became painful, but rightful in the face of the devastating effects … Continue reading Air Peace Cuts Pay By 40%, Sacks Pilots

Alleged ₦41bn Fraud: Elumelu Denies Allegations, Demands Apology From Lawmaker

A former Managing Director of United Bank for Africa (UBA), Tony Elumelu, has denied allegations of his involvement in a N41 billion fraud committed against the defunct telecommunication company and national carrier, NITEL. By George Ogala He has given the Chairman of the Senate Committee on Ethics, Privileges and Public petition, Ayo Akinyelure, seven days to retract his comments linking him (Mr Elumelu) to the fraud. Related … Continue reading Alleged ₦41bn Fraud: Elumelu Denies Allegations, Demands Apology From Lawmaker

Nigerian To Take Over Shoprite Assets

When Shoprite leaves Nigeria, its assets will most likely be handed over to a Nigerian. By Nduka Chiejina The Nation has confirmed “discussion is ongoing and at advanced level to dispose their (Shoprite) assets in Nigeria to a local.” Related News: Nze Chidi Duru, who confirmed this to The Nation, has Shoprite as one of his Anchor tenants in GrandTower Apo Mall while his Partners, … Continue reading Nigerian To Take Over Shoprite Assets

Sanwo-Olu Commissions ‘First Indigenous’ Medical-grade Face Mask Factory

Governor Babajide Sanwo-Olu, on Thursday, opened the O-Care Medical Face Mask factory in Odofin Park Estate, Amuwo Odofin Local Government Area of the State [PHOTO: @followlasg] Governor Babajide Sanwo-Olu, on Thursday, opened the O-Care Medical Face Mask factory in Odofin Park Estate, Amuwo Odofin Local Government Area of the State, described as the first indigenous medically graded face mask manufacturing company in Lagos State. Related News: … Continue reading Sanwo-Olu Commissions ‘First Indigenous’ Medical-grade Face Mask Factory

COVID-19: FCTA Warns Nightclub, Beer Palour, Park Operators Against Opening For Business

The Federal Capital Territory Administration (FCTA) has warned operators of nightclubs, bars and gardens across Abuja not to operate until the restriction order is lifted. June 21, 2020 By Gbenga Omokhunu, Abuja The Chairman of the FCT Ministerial Task Team on COVID-19 restriction in the FCT,  Ikharo Attah gave the warning at the weekend when the team went round kubwa  Gwarimpa and Wuse to monitor … Continue reading COVID-19: FCTA Warns Nightclub, Beer Palour, Park Operators Against Opening For Business