Good day, Nigeria, welcome to Naija Information roundup of enterprise/finance information headlines for at this time Friday, December twenty fourth, 2021.

Titan Belief Financial institution Restricted (TTB) owned by Tunde Lemo, who’s a former Deputy Governor of the Central Financial institution of Nigeria (CBN), has taken over Union Financial institution.

Naija Information experiences that the Board of Union Financial institution of Nigeria Plc (Union Financial institution) on Thursday notified the NGX and Securities Alternate Fee of the take over.

In line with Union Financial institution board, its buyers Union World Companions Restricted, Atlas Mara Restricted and different shareholders reached an settlement with Titan Belief Financial institution Restricted (TTB) to divest their shareholding in Union Financial institution to TTB.

It was gathered that the settlement, which is topic to regulatory approvals and different monetary circumstances, will upon completion switch 89.39% of Union Financial institution’s issued share capital to TTB.

Talking within the take over, Tunde Lemo expressed delight, stating that the transaction marks a key step for Titan Belief in its strategic progress journey.

The Board of Seplat Power yesterday introduced that it has terminated the appointment of Austin Avuru as a Non-Govt Director of the corporate, on account of alleged breaches of the corporate’s company governance insurance policies and his fiduciary duties.

Seplat Power’s Director, Exterior Affairs & Sustainability, Chioma Nwachuku, who made the announcement in a press release posted on the Nigerian Alternate (NGX) web site, said that the termination turned efficient from December 22, 2021.

However in response, Avuru yesterday said that the intention of the announcement of the termination of his appointment was to do incalculable harm to his hard-earned status.

The letter by Seplat was titled: ‘Change on the Board of Seplat Power and signed by its Director, Authorized/Firm Secretary, Edith Onwuchekwa.

It said: “The Board of Seplat Power proclaims that it terminated the contract of appointment of Mr. Austin Avuru as a Non-Govt Director on twenty second December 2021, on account of breaches of the Firm’s company governance insurance policies and his fiduciary duties. The Board has referred to as for his resignation as a Director of Seplat Power.

“In step with Seplat Power’s Memorandum and Articles of Affiliation, Platform Petroleum Restricted has been requested to appoint a candidate for his alternative on the Board, and an extra announcement will probably be made sooner or later.”

Governor Godwin Obaseki of Edo State has pledged to maintain ongoing reforms and programmes throughout all sectors of the state to make sure the influx of buyers into the state.

Obaseki gave the peace of mind when he obtained the administration of Chartered Institute of Stockbrokers, led by its President, Mr. Olatunde Amolegbe, who was on a courtesy go to on the Authorities Home, Benin Metropolis.

Naija Information experiences that the governor said that his authorities will proceed to create an enabling atmosphere for companies to thrive.

Reassuring help for the stockbrokers, Obaseki mentioned the state plans to host the institute’s annual convention to showcase funding alternatives in Edo.

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By admin