Guinness Looks to be Exiting Nigeria, sells Major stakes

Diageo Plc, the UK-based majority owner of Guinness Nigeria, looks to be exiting Nigeria after selling its 58.02% stake to Tolaram Group, the consumer food giant. Tolaram paid ₦81.60 for those shares, implying around a 60% premium on Guinness Nigeria’s Monday closing price of ₦50. Diageo will retain ownership of the Guinness brand it will be licenced to Guinness

CBN Dissolves Board, Management of Another 3 Prominent Banks in Nigeria

The Central Bank of Nigeria (CBN) has dissolved the Board and Management of Union Bank, Keystone Bank, and Polaris Bank. In a press statement signed by the Ag. Director, Corporate Communications, Sidi Ali, Hakama (Mrs.), the CBN said; “this action became necessary due to the non-compliance of these banks and their respective boards with the