Ecobank Drags Honeywell to Supreme Court

Ecobank Nigeria Limited has urged the Supreme Court to set aside a Court of Appeal verdict on its winding-up petition against Honeywell Flour Mills Plc over an alleged 3.5billion debt.

Justice Mohammed Yunusa of the Federal High Court in Lagos last December 4 froze Honeywell’s accounts following an application by Ecobank’s lawyer Mr. Kunle Ogunba (SAN) of the Insolvency Forte. 

The judge later

Ecobank Explains Sack of Workers

Lagos – Ecobank Nigeria on Thursday said that the recent reorganisation that affected some senior staff was designed to strengthen the bank’s business across all markets. This is contained in a statement issued by the bank and made available to the News Agency of Nigeria (NAN) in Lagos.

 

The statement said that the recent restructuring came after a review of senior staff bench strength and industry standards. It explained that it was necessary for the bank to realign its work force for better efficiency in line with best practices, adding that those who were affected by the exercise were adequately compensated.

Ecobank, Seplat, 16 others lift stock market

Gains recorded by Ecobank Transnational Incorporated, Seplat Petroleum Development Company Plc and 16 others on Thursday helped to end a two-day rout in the equities market of the Nigerian Stock Exchange.

After six consecutive days of closing higher, the market had retreated on Tuesday as key market indices declined by about 1.3 per cent followed by a 1.9 per cent slide on Wednesday.

The NSE All-Share Index rose to 24,261.69 basis points on Thursday from 24,056.12 basis points, while the market capitalisation of listed equities was up by N71bn to close at N8.34tn.