Business and Economy

By Okeoghene Akubuike Abuja, Sept. 29, 2022 African Export-Import Bank (Afreximbank) has inaugurated the Afreximbank Trade Payment Services or “AfPAY”. AfPAY is an intervention designed to facilitate the settlement of international trade on open account terms on behalf of identified African financial institutions and their clients. A statement issued by …

Mr. Tony Elumelu, Chairman, Heirs Holdings at NCRIB’s 60th Anniversary Colloquium on Thursday in Lagos By Rukayat Adeyemi Lagos, Sept. 29, 2022 Mr. Tony Elumelu, Chairman, Heirs Holdings, on Thursday proposed N50 million as capital base for insurance broking firms operating in Nigeria. Elumelu, also founder, Tony Elumelu Foundation, said …

Minister of Transportation Mu’ azu Jaji Sambo says Nigeria is committed to achieving greener shipping in line with the campaign by the International Maritime Organization, IMO, to attain sustainable development in the maritime industry. This is just as Nigeria joins the IMO to commemorate the 2022 World Maritime Day. Sambo said that Nigeria would not be left …

By Cecilia Ologunagba New York, Sept. 24, 2022 The Minister of State for Petroleum Resources, Timipre Sylva, has assured Nigerians that rehabilitation of the Port Harcourt refinery would soon be completed and that the plant would refine 60,000 barrels of crude by early 2023. Sylva gave the assurance while speaking …

By Temitope Ponle Abuja, Sept. 24, 2022 President Muhammadu Buhari and the African Development Bank (AfDB) Group President, Dr Akinwumi Adesina have urged global businesses and leaders to boldly invest in Nigeria. In a statement from the Communication and External Relations Department, AfDB, the two leaders made the call at …

By Chijioke Okoronkwo Lagos, Sept. 22, 22 Vice President Yemi Osinbajo says African countries account for less than one per cent of cumulative global carbon emissions. Osinbajo disclosed this in his keynote address at the 60th Anniversary Dinner of the Oil Producers Trade Section (OPTS) of the Lagos Chamber of Commerce …

By Lydia Ngwakwe Lagos, Sept. 20, 2022 United Bank for Africa Plc (UBA) says it will commence cross-border transactions with the new Pan-African Payment and Settlement System (PAPSS) in the fourth quarter of 2022. Mr. Kayode Olubiyi, Group Head, Digital Banking, UBA, said on Tuesday at a UBA webinar that …

Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Abdulrasheed Bawa, will on Friday, September 23, 2022, address world leaders on issues of food security response, illicit financial flows and asset returns, at the ongoing 77th United Nations General Assembly, UNGA, holding in New York, United States of America (USA). …

Prudential Zenith Life Insurance Limited (“PZL”) has announced its audited financial results for the year ended 31st December 2021, recording a 75% growth in profit after tax (PAT) of ₦1.13b compared to the ₦646m recorded in the corresponding period in 2020. The results, which was approved by the Board of Directors …

By Joan Nwagwu Abuja, Sept. 19, 2022 The Federal Government says it will adjust workers’ salaries to meet the current realities in the economy of the country. Sen. Chris Ngige, the Minister of Labour and Employment said this at the public presentation of the NLC at 40 publication, titled, “Contemporary …

The Dangote Sugar Refinery Plc (DSR) has scaled up its social intervention programmes around host communities in Adamawa and Nasarawa States where its Backward Integration projects are located. The Group is investing hugely in raw sugar production as part of the Federal Government Sugar Master Plan. This is coming on …

By Lydia Ngwakwe Lagos, Sept 18, 2022 Mr. Muyiwa Akinyemi, the Deputy Managing Director, United Bank for Africa (UBA) Plc, has advised the Federal Government to take advantage of the opportunities in the creative industry for sustainable export earnings. Akinyemi gave the advice at the annual conference of the Finance …

…provides free medical eyecare to 2000 Lagosians  Nigeria’s premier deep-water oil and gas exploration and production company, Shell Nigeria Exploration, and Production Company Limited (SNEPCo), says the scheduled turnaround maintenance of its offshore Bonga asset would be defined by safety as top priority. SNEPCo’s Managing Director, Elohor Aiboni, gave this …

The Board of Directors of Weststar Associates Limited, the authorized general distributor of Mercedes-Benz in Nigeria has announced the appointment of Mrs. Mary Ojulari as the new Managing Director of the company. Mrs. Ojulari, according to a statement by the company, has had a successful history within the organization. Weststar …

By Temitope Ponle Abuja, Sept. 15, 2022 The U.S government says it will provide a five-million-dollar grant to the African Development Bank (AfDB) to support efforts to reduce methane gas emission across Africa. U.S. Special Presidential envoy for climate, Mr. John Kerry made the announcement at a breakfast event held …

The 2022 edition of The Nigeria Prize for Science today, Wednesday, announced two most outstanding works on “Gains in Grain Yield of Released Maize (Zea Mays L.) Cultivars under Drought and Well-Watered Conditions” by Muhydideen Oyekunle and Shehu Ado; and “Development of Process Plant for Plantain Flour” by Sesan Peter …

By Augusta Uchediunor Sept. 12, 2022 Ecobank Transnational Incorporated (ETI), the parent company of the Ecobank Group, has announced that the current Group Chief Executive Officer, Ade Ayeyemi, will retire after he attains the age of 60, in accordance with ETI policy. The Board of Directors selected Jeremy Awori to …

By Rita Iliya Minna, Sept. 13, 2022 The Independent Corrupt Practices and Other Related Offences Commission (ICPC) in collaboration with the National Orientation Agency (NOA) has solicited stakeholders’ support in the fight against corruption in the country. Prof. Bolaji Owasanoye, Chairman of the Commission, made the call at a one-day …

Prof. Ivara Esu, C’ Rivers Deputy Governor, giving a certificate of participation to one of the beneficiaries Miss Victoria Aso during the graduation ceremony of the NCDMB training on Monday in Calabar By Christian Njoku Calabar, Sept. 12, 2022 1000 Cross River youths from the three senatorial districts on Monday …

…Urge the general public to assist with info to help curb the trend In a renewed effort to rid the Dangote Group of unscrupulous drivers who engaged in illegal haulage activities and others who constituted themselves into menace to other road users, the company’s drivers’ Patrol team, has made several …

By Temitope Ponle Abuja, Sept. 9, 2922 The African Development Bank (AfDB) has launched and priced a new 1.25 billion euros seven-year Global Benchmark transaction, in a Social Bond format, due Sept. 14, 2029. The AfDB in a statement posted on its website on Friday, stated the bond launched on Wednesday, …

A huge surge has been recorded among bargain-hungry shoppers as Konga, Nigeria’s leading composite e-commerce giant, prepares to draw the curtains on its widely popular Mega Computing Sales. The promotion, a two-week-long sales fiesta offering best deals and unmatched discounts on a variety of computing products, has generated significant excitement …

By Temitope Ponle Abuja, Sept. 7, 2022 Dr Akinwumi Adesina, President of the African Development Bank (AfDB) Group says the bank will provide 12.5 billion dollars to support the Africa Adaptation Acceleration Programme (AAA-P). The AfDB president disclosed this via his verified twitter handle @akin_adesina on Wednesday. The AAA-P is …

By Nathan Nwakamma Yenagoa, Sept.7, 2022 A second year Political Science student, University of Ibadan, Ayotomiwa Elesho, has won N1 million prize in the 6th Annual National Undergraduate essay competition of the Nigerian Content Development and Monitoring Board, NCDMB. Victor Sunday, 23, of University of Nigeria, Nsukka emerged second, winning …

By Stellamaris Ashinze Lagos, Sept. 6, 2022 Google on Tuesday announced the selection of 60 eligible startups across Africa with $4 million dollars funding to enable them scale up their ongoing work. The programme, which is called Google Black Founders Fund (BFF) for startups in Africa, is the second phase …