Samsung Electronics (005930.KS) announced on Wednesday that it will acquire 2.5 trillion won ($1.73 billion) of its own shares to fund employee and executive compensation. The purchases will be made on the stock market between January 8 and April 7, according to a regulatory filing. This buyback is part of a performance-linked compensation scheme that …
CIG Motors Co. Ltd has fired Mr. Jubril Arogundade after completing an internal governance review. Arogundade had been suspended while the company investigated executive management practices. The review focused on responsibilities at the leadership level and is now concluded. PR Director Ifeanyi Abraham said the company has referred the findings to the Economic and Financial …
In a swift move considered as a measure to avoid a conflict of interest, the newly appointed Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Engr Saidu Aliyu Mohammed, has withdrawn his acceptance of a board seat at Seplat Energy Plc. Pinnacle Daily had reported that President Bola Tinubu, last …
Chairman of MTN Nigeria, Dr. Ernest Ndukwe, has said the success of the company from its early years to its dominance as Nigeria’s leading telecom operator stems from strong corporate governance and merit-based recruitment. Speaking at the 31st Nigerian Economic Summit in Abuja, during a panel session themed “Titans on the Move: Africa’s Multinationals,” Ndukwe …
The National Pension Commission (PenCom) has introduced a new programme, Pension Revolution 2.0, aimed at raising the pay of retirees, improving pensioners’ dignity, and extending pension services to millions of Nigerians, including those in the informal sector. The Director-General of PenCom, Ms. Omolola Oloworaran, announced the initiative in a statement on Monday. She explained that …
By Esther Ososanya The Nigerian Communications Commission (NCC) on Tuesday announced that it will now prioritize transparency and public disclosure of operators’ performance as its primary regulatory tool. Executive Vice Chairman of the Commission, Dr. Aminu Maida, said in Abuja that punitive measures such as license suspensions, financial sanctions, and service withdrawals once effective in …
