InfraCredit secures $15m AfDB loan to enhance infrastructure financing in Nigeria The Infrastructure Credit Guarantee Company Limited (InfraCredit) has secured a $15 million loan from the African Development Bank (AfDB) to boost infrastructure financing in Nigeria. The AfDB announced the deal in a recent statement. The agreement,[Read More…]
Why investors will buy Fidelity Banks offers, by capital market stakeholders Fidelity Bank Plc started its N127.1 billion combined rights and public offers to a rousing support from the investing public as key capital market stakeholders recalled the symbolic importance of Fidelity Banks impressive growths and investor-friendly disposition[Read More…]
GTCO Rated Strongest Brand, Best Banking Brand In Nigeria Africa’s leading financial services institution, Guaranty Trust Holding Company Plc (“GTCO” or “the Group”), has added to its impressive haul of accolades as it was recently named Nigeria’s strongest brand and Best Banking Brand in Nigeria by Brand Finance and[Read More…]
UK Court rules in favour of Chinese firm, allows seizure of Nigeria’s properties A commercial court in London, United Kingdom (UK), has granted Zhongshan Fucheng Industrial Investment Co. Ltd final charging orders over two residential properties owned by Nigeria in the UK. Lisa Sullivan, a master at the[Read More…]
First Bank Confirms Olusegun Alebiosu As New CEO, Ini Ebong As DMD First Bank of Nigeria Limited has confirmed the appointment of Olusegun Alebiosu as its substantive Managing Director and Chief Executive Officer of the bank. First Bank’s Secretary, Adewale Arogundade disclosed this in a notice on Wednesday[Read More…]
FG cracks down on electricity theft: sets up tribunal for prosecution The federal government has said that it is working on establishing an electricity offences tribunal to combat electricity theft in the country. Aliyu Tahir, managing director of the Nigerian Electricity Management Services Agency, spoke at a press[Read More…]
Billionaire Otedola reclaims throne, acquires N18.9bn shares in FBN Holdings Femi Otedola, billionaire businessman and chairman of FBN Holdings, has regained his position as the majority shareholder of First Bank. According to corporate filings on the Nigerian Exchange Group (NGX) on Thursday, Otedola now owns 9.41 percent shares in[Read More…]
NNPC, TotalEnergies sign $550m investment deal on Ubeta project The Nigerian National Petroleum Company (NNPC) Limited has signed a memorandum of understanding (MoU) with TotalEnergies for the final investment decision (FID) on the Ubeta Field Development Project. NNPC and TotalEnergies on Thursday signed the agreement in Abuja. [Read More…]
World Bank backs Nigeria’s plans to introduce telecoms, gambling taxes The World Bank has said that its $750 million loan to Nigeria will support the federal government’s policy reforms. World Bank made this disclosed in the programme appraisal document — dated May 17, 2024 — on the proposed[Read More…]
FG says UAE will soon lift visa ban on Nigerians Festus Keyamo, minister of aviation and aerospace development, says the United Arab Emirates (UAE) will soon lift the visa restriction on Nigerian travellers. Keyamo stated this on Saturday during an interview with the State House media. He said the country[Read More…]
