The African Export-Import Bank (Afreximbank) has announced that Algeria has joined the bank as its 52nd Member State. This is contained in a statement by the bank’s Media Contact, Mr Amadou Sall, in Abuja on Friday. Afreximbank member states rose from 38 in 2015 to 51 in 2021, with...
BUSINESS
The Minister of State for Transportation, Sen. Gbemisola Saraki, says the Onitsha river port is positioned to generate over N23billion to the Federal Government in 30 years. Saraki, during the signing of the concession of the port on Thursday in Abuja, said the port had lots of economic benefits...
Sterling Bank was on Thursday named Best Participating Financial Institution for 2021 at the Agriculture Credit Guarantee Scheme Fund (ACGSF). The ACGSF, in an event in Abuja, also rewarded three Agriculture entrepreneurs who took loans and repaid under the scheme. According to the ACGSF board, the participation of Sterling...
By TOM CHIAHEMEN, Abuja – As the Armed Forces of Nigeria in collaboration with other security agencies intensify the fight against oil thieves and illegal oil refining in the country, a total of 3,074,000 litres of Automotive Gas Oil, and 3,810,000 litres of crude oil, were discovered in the...
As a sign of commitment to promptly honour its debts obligations always, Nigeria has redeemed its 300 million dollars diaspora bond which matured on June 27. This is according to a statement by the Debt Management Office (DMO) on its website on Tuesday. The DMO said that the diaspora...
MTN Group has released the second instalment of its refresh brand, tagged the ‘Voice’ brand film, inspiring everyone that their voice mattered. The brand highlighted how a simple ingredient of life, such as voice, could impact and change the way people saw the world, and inspired progress. The Group...
It is regrettable that Nigeria’s petroleum refineries are not working and the possibility of introducing subsidies on Automotive Gas Oil, also known as diesel, is unlikely, the Federal Government has said. The Chief Executive Officer (CEO) of the Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, who made this...
The Federal Government’s agenda to transform the country to a robust digital economy, became the focal point in the message of the Honourable Minister of Communications and Digital Economy, Prof. Isa Ibrahim Pantami, who was the special guest at the weekend commissioning of a ‘Digital Nigeria Centre’ at the...
Alhaji Lamido Yuguda, the Director-General, Security and Exchange Commission (SEC), says the commission is working to ensure it reduces the level of unclaimed dividends to zero per cent. In an interactive session with editors on Tuesday in Lagos, Yuguda said that unclaimed dividends rose to N180 billion as at...
By SADIQ ABUBAKAR, Maiduguri – The Group Managing Director of NNPC, Alhaji Meleh Kyari has said the new 50 mega watts Gas Power Plant under construction in Maiduguri will be completed by November 2022. Kyari stated this yesterday during an inspection tour at the site of the new 50MW...
The Reserve Bank of Zimbabwe (RBZ) on Monday announced the introduction of gold coins into the market as a store of value. In a statement following a meeting of the bank’s Monetary Policy Committee (MPC) on June 24, RBZ Governor, John Mangudya, also announced some measures meant to curb...
Office property investment is not just an investment you can barge into without putting some factors into consideration. Things have been changing rapidly which has created a different dynamic of how things work. Few years back, it was easy to get away with mistakes made from investment. But, in...
By HARUNA AHMED, Gombe – Jaiz Bank Plc has organised an interactive session with religious leaders and scholars drawn from Gombe, Bauch, Yola, Jos and Yobe to enlighten them on the operations of Islamic Banking and Finance. Speaking at the event during the weekend in Gombe, The Managing Director...
First Bank of Nigeria Ltd. has announced the launch of the FirstGem fund (FirstGem loan) a single-digit loan scheme, targeted at female entrepreneurs. Mrs Folake Ani-Mumuney, the bank’s Group Head, Marketing and Corporate Communications, made the announcement in a statement on Sunday in Lagos. Ani-Mumuney said that the scheme...
.The Nigerian National Petroleum Company Limited (NNPC Ltd.) started it activities for the new week with words of commendation from the Nigeria Extractive Industries Transparency Initiative (NEITI). The Executive Secretary of NEITI, Dr Ogbonnaya Orji, stated at the first National Extractives Dialogue (NED) held in Abuja, that the NNPC...
The African Development Bank Group (AfDB), says it is implementing infrastructure projects worth 11.5 billion dollars in West Africa. Ms Marie-Laure Akin-Olugbade, the Director-General, West Africa Regional Development and Business Delivery Office of the Bank, said this in a telephone interview with the News Agency of Nigeria (NAN) on...
Dr Mohammad Barkindo, the Secretary-General, Organisation of Petroleum Exporting Countries (OPEC), said one of its cardinal achievements was the launch of the inaugural OPEC Africa Dialogue in June 2021. Barkindo made this known on Friday in a letter he addressed to Mr Anibor Kragha, the Executive Secretary, African Refiners...
Since his appointment as MD/CEO of First Bank of Nigeria Limited in 2016, Dr. Adesola Adeduntan has completely transformed the financial institution and has made it attractive to every strata of the society. From an institution that used to be perceived as an old-generation bank, FirstBank is now a...
Registration for the eNaira hackathon, geared towards ideating innovative solutions for the newly launched digital currency, organised by the Africa Fintech Foundry (an innovative hub established to identify and accelerate innovative startups in Africa), in partnership with the Central Bank of Nigeria (CBN), is billed to open on June...
By MBAFAN ADE, Abuja – The Central Bank of Nigeria (CBN), has faulted reports in media circles suggesting that the payments of overseas tuition fees from Nigeria will cost more as from January 2023, due to the purported withdrawal of the “Form A” Discounted rate, with effect from December...