Ecobank Group Champions Intra-African Trade Growth at IATF 2023 Ecobank Group, the leading pan-African banking Group, has said it is positioned as the ‘go to’ bank for payments and trade in Africa. Eric Odhiambo, Group Executive, Corporate and Investment Banking, Ecobank Group who was speaking on the ongoing[Read More…]
Standard Chartered Bank invests over $1m towards Women in Tech Incubator Programme, Says Aderugbo The Woman in Tech, (WiT), Incubator Programme of Standard Chartered is a programme designed to help female Tech-preneurs identify, grow and bring to the market unique business ideas. Dayo Aderugbo, Head, Corporate Affairs, Brand and[Read More…]
Union Bank completes shareholding takeover, Delists from stock exchange In May, 2023, Union Bank received an offer from its core shareholder, Titan Trust Bank Limited, to acquire the shares of all minority shareholders in Union Bank after the completion of core investors’ sale of a majority shareholding to Titan Trust[Read More…]
Dangote refinery secures licence to refine 300,000bpd crude Africa’s richest man, Aliko Dangote, has said his refinery has secured a licence to refine more than 300,000 barrels of Nigerian crude per day and will begin to process gasoline soon. “We don’t want to start our refinery with foreign goods, we[Read More…]
UBA, Saudi EXIM Bank partner on business relations, export growth Photo Caption: Chief Executive Officer, United Bank for Africa (UBA) United Arab Emirate, Vikrant Bhansali (left); Group Treasurer, UBA, Adeleke Adeyemi; Group Managing Director/ Chief Executive Officer, UBA, Oliver Alawuba and Chief Executive Officer, Saudi Export-Import Bank (SAUDI EXIM),[Read More…]
Naira Depreciates by 22.1% as equities market records N45.3b turnover The naira depreciated by 22.1 per cent to N996.75/$ at the Nigerian Autonomous Foreign Exchange Market (NAFEM), with total turnover falling by 7.4 per cent week-to-date (w/w) to $545.89 million. Trades were consummated within the N700 and N1,100/$ band. In[Read More…]
AfDB, Afrexim, Others Pledge $3bn Funding For Africa’s Agro-industrial Growth The African Development Bank Group, Africa Export-Import Bank, Arise Integrated Industrial Platforms, the Islamic Development Bank Group and the United Nations Industrial Development Organisation have launched a new alliance to bridge the critical financing gap in agriculture on the[Read More…]
House moves to review CBN Act A bill to amend the Central Bank of Nigeria Act on Thursday scaled Second Reading at the House of Representatives. The proposed amendment according to the sponsor of the bill, Francis Waive, seeks to address several critical aspects of the Act to enhance[Read More…]
FG says Nigeria lost N4.3tn to oil theft in five years The Federal Government, on Monday, revealed that more than N4.3tn worth of crude oil was stolen in 7,143 pipeline vandalism cases within a period of five years. It disclosed this at the Nigeria International Pipeline Technology and Security Conference[Read More…]
FG probes extension of DisCos’ licenses …says privatisation not the right way to go The Minister of Power, Adebayo Adelabu, on Wednesday said privatisation was not the right way to go for the country, rather commercialisation would have been better. The minister, who stated this during an interactive session[Read More…]
