Air Peace has announced that it will resume its flights to Dubai on December 1, 2021. This follows the resolution of the nine-month diplomatic row between Nigeria and the United Arab Emirates (UAE) which stalled direct flights between both countries. With the COVID-19 protocol which stirred the crisis reviewed, airlines can now fly passengers directly […]
The global oil prices fell to $77 per barrel, the lowest since September 2021 amid a new coronavirus variant and U.S. release of millions of barrels of oil from strategic reserves. Brent crude oil futures, the global benchmark, dropped by 5.63 percent on Friday to $77.59 a barrel. U. S West Texas Intermediate (WTI) crude […]
Honeywell Group Limited (HGL) and Flour Mills of Nigeria Plc (FMN) have signed an agreement to combine FMN and Honeywell Flour Mills Plc (HFMP), a portfolio company within Honeywell Group. Through this agreement, Honeywell Group will transfer a 71.69 percent stake in Honeywell Flour Mills to Flour Mills of Nigeria at a total enterprise value […]
Flour Mills of Nigeria Plc (FMN) says that the agreement to assume majority shareholder status of Honeywell Flour Mills Plc (HFMP) is not in breach of any subsisting court order. In a statement by its company Secretary and Director, Legal Services, Umolu Joseph A. O., the company said it made the announcement on Monday after […]
A Benue State high court sitting in Makurdi on Wednesday restrained the Benue State government from going on with its plan to privatise the state-owned transport company known as “Benue Links.” The court gave the ruling in an application for interim orders filed by the Amalgamated Union of Public Corporations, Civil Service, Technical and Recreational […]
Ecobank Nigeria Limited yesterday placed a caveat on any share of Honeywell Group Limited following media reports on a move by Flour Mills Nigeria PLC to acquire 71.69 per cent of Honeywell Group Limited. It warned off prospective buyers on the ground that Honeywell Group Limited is allegedly hugely indebted to the bank, adding that […]
The Central Bank of Nigeria (CBN) on Tuesday weighed in on who is the highest shareholder in First Bank of Nigeria Plc. According to the apex bank, the over 100 years old bank is too big and strategic for one individual to own outright. Addressing journalists at the end of bimonthly Monetary Policy Committee (MPC) […]
Flour Mills of Nigeria Plc (FMN), the food conglomerate and owners of the iconic Golden Penny Food brand, has acquired a 71.69 percent stake in Honeywell Group, In a joint statement issued on the Nigerian Exchange (NGX), the two companies announced they have signed an agreement for a proposed combination of FMN through its affiliates […]
President Muhammadu Buhari-led’s government has revealed plans to review the power tariff in December as power consumers may start to pay more for the consumption of electricity in the country. The Federal Government who disclosed this in a statement on Wednesday said its administration had commenced the procurement of four million meters meant to be […]
The Iyaloja of Lagos, Folasade Tinubu-Ojo has placed the Otto Modern Market, Oyingbo, Lagos State, on lock and key for the past two weeks. Folashade, who is the daughter of National Leader of the All Progressives Congress, APC, Bola Tinubu, reportedly locked the gate to the plaza over complaints of trading in an untidy environment. […]
