The management of Unity Bank says it has appointed Aminu Babangida, son of Ibrahim Babangida, former military head of state, as chairman of the bank. In a notice posted on the Nigerian Stock Exchange website on Thursday, the bank said his appointment had been approved by the Central Bank of Nigeria (CBN).

Aliko Dangote

Dangote Cement Plc, Africa’s largest cement producer, at the weekend has withdrawn its interest in to acquire the share capital of PPC Limited-a South African leading cement firm. In a regulatory filing at the weekend, Dangote Cement board of directors stated that it has notified PPC board of directors that it no longer has an interest in acquiring the South African firm’s share capital.

The new 650,000 barrels per day refinery being built by Aliko Dangote, Africa's richest man in Nigeria is expected to come onstream by the end of 2019, Nigeria's Minister of State for Petroleum Resources Emmanuel Ibe Kachikwu said on Tuesday. Nigeria's state oil firm NNPC last year launched bidding to find partners to overhaul its ailing refineries, which hardly produce any petrol due to decades of mismanagement and widespread graft.

The Pension Transitional Arrangement Directorate (PTAD) has so far recovered N16 billion of legacy pension funds and assets in the last one year. This was affirmed by Mrs Sharon Ikeazor, the Executive Secretary who made the disclosure at the 2017 stakeholders’ forum of pensioners in Abuja.

International Breweries recorded the highest gain on the Nigerian Stock Exchange (NSE) following investors’ reactions to the merger approval with Intafact Beverages, and Pabod Breweries Limited.The reports show that the company led the gainers’ table with a gain of N4.49 to close at N51.01 per share. Mr Ambrose Omordion, the Chief Operating Officer, InvestData Limited, attributed the development to investors’ reaction to the shareholder's approval to the merger between the three companies.

A total of 317.44 million shares valued at N2.85 billion were traded in 3,327 deals on the Nigerian Stock Exchange (NSE) on Thursday. This was in contrast to the 174.07 million shares worth N2.72 billion traded in 3,599 deals on Wednesday. The News Agency of Nigeria (NAN) reports that the market capitalisation, similarly, appreciated by 0.17 per cent to close at N12.314 trillion from N12.171 trillion recorded on Wednesday.

Nigeria and United States’ legislators and executives, industry experts among others would be meeting next month at the 2017 U.S-Nigeria Legislative and Executive Leadership Forum to discuss issues affecting Nigeria’s political and economic development. The Zamfara State Governor, northern Nigeria, Abdul-Aziz Yari and Senator Anthony Muse of Maryland, United States, are among the keynote speakers at the event scheduled to hold from November 15 – 18, in Washington DC, USA.

The World Bank has projected that Nigeria will record an inflow of $22 billion from foreign remittances in 2017, an increase from the $19 billion recorded in 2016. According to the Migration and Development Brief released by the bank on Tuesday, global remittance flow will recover in 2017 after two consecutive years of decline.

The International Monetary Fund (IMF) has projected that the Nigerian economy will expand faster than South Africa in 2017. The Division Chief, Research Department, IMF, Oya Calesun, gave the forecast while briefing the media on the World Economic Outlook (WEO) released on Tuesday at the IMF/World Bank annual meetings in Washington D. C.

A Federal High Court in Lagos held that Nigeria Liquefied Natural Gas Ltd (NLNG) was right in refusing to pay levies demanded by the Nigerian Maritime Administration and Security Agency (NIMASA). The dispute between both parties arose as a result of perceived conflict in their respective enabling Acts – Nigeria LNG (Fiscal Incentives, Guarantees and Assurances) Act and Nigerian Maritime Administration and Safety Agency Act.