E-commerce in Nigeria has often been touted as a difficult terrain and not for the faint-hearted. This position is backed up by concrete facts and verifiable evidence, especially when one considers the well-documented struggles of several players in the sector. Despite the allure and glitter that the segment holds, one …
Read More »EEDC announces restoration of power supply to S/East
By Stanley Nwanosike Enugu, June 13, 2022 The Enugu Electricity Distribution Company (EEDC) has announced the restoration of electricity supply within all the states within the South-East, its franchise coverage area. This is contained in a statement issued by the Head, Corporate Communications, EEDC, Mr. Emeka Ezeh, and made available …
Read More »Osinbajo leaves for Africa CEO Forum in Abidjan
By Chijioke Okoronkwo Abuja, June 12, 2022 Vice President Yemi Osinbajo departed Abuja on Sunday for Abidjan, Cote d’Ivoire, to participate in the annual summit of the Africa CEO Forum. The vice president will participate in the event alongside other leaders in the continent and beyond. Osinbajo’s spokesman, Laolu Akande, …
Read More »South-East states thrown into darkness as EEDC system collapses
By Stanley Nwanosike Enugu, June 12, 2022 The South-East states of Abia, Anambra, Ebonyi, Enugu and Imo will face power outages following a system collapse announced by the Enugu Electricity Distribution Company (EEDC). This is contained in a statement issued by the Head, Corporate Communications, EEDC, Mr. Emeka Ezeh, on …
Read More »DMO, CSL stockbrokers take securities awareness initiative to Ibadan, Kano
DMO’s Director-General, Patience Oniha By Kadiri Abdulrahman Abuja, June 11, 2022 The Debt Management Office (DMO) and stock broking firm for the Federal Government, CSL Stockbrokers Limited, are partnering to raise security investment awareness in Ibadan and Kano. Ifeoma Ukwunna, Head, Retail Business for CSL, made this known in a telephone interview with …
Read More »Access Bank to acquire $37m stake in Kenya’s Sidian Bank
By Olawunmi Ashafa Lagos, June 8, 2022 Access Bank Holding Plc says it plans to acquire Kenya’s Sidian Bank Ltd., for N15 billion ($37 million). The bank disclosed this in a notice signed by Mr. Sunday Ekwochi, Company Secretary of the bank, and made available on the Nigerian Exchange Ltd., …
Read More »Shareholders thumb up NASCON’s good performance, despite pandemic
…Wins haulage company of the year Shareholders of NASCON Allied Industries Plc, a subsidiary of Dangote Industries Limited (DIL) have commended the food seasoning company over its impressive performance in the year ended December 31, 2021, in spite of the harsh economic operating environment just as the company emerged the …
Read More »Experts to brainstorm on Nigeria’s Financial Inclusion Initiative at Oriental News Nigeria Confab
Key stakeholders in Nigeria’s financial sector would engage in a robust round table discussion on government’s key policy which centers around inclusive financial system that will cover all strata of the society. The experts drawn from key private sector organisations and regulatory agencies, according to a statement by Yemisi Izuora, …
Read More »DMO lists 2 new FGN savings bonds for subscription at N1,000 each
By Kadiri Abdulrahman Abuja, June 4, 2022 The Debt Management Office (DMO) has listed two new Federal Government of Nigeria (FGN) savings bonds for subscription at N1,000 per unit. According to the DMO, the first one is a two-year savings bond maturing on June 15, 2024, at an interest rate of …
Read More »Buhari, Kyari showcase oil, gas investment opportunities in Spain
By Emmanuella Anokam Abuja, June 3, 2022 Malam Mele Kyari, Group Managing Director, NNPC Ltd., has reiterated the commitment to sustain the strategic energy partnership between Nigeria and Spain. Kyari made this known while addressing Nigerian and Spanish business leaders on investment opportunities in the Nigerian Oil and Gas Industry …
Read More »Titan Trust Bank completes takeover of Union Bank
By Olawunmi Ashafa Lagos June 2, 2022 Union Bank Plc on Thursday said it had completed its core investors’ sale of a majority shareholding to Titan Trust Bank Ltd., a subsidiary of TGI Group. In a statement signed by Somuyiwa Sonubi, the bank’s company Secretary, made available to the Nigerian …
Read More »CBN reviews operations of NIBBS instant payments system, others
By Kadiri Abdulrahman Abuja, June 2, 2022 The Central Bank of Nigeria (CBN) has reviewed upwards, the operations of the Nigeria Inter-Bank Settlement System (NIBSS) and other electronic payment operations. This is contained in a circular by Musa Jimoh, Director, Payments System Management Department of the bank. Jimoh stated that the …
Read More »Access Bank funds Lagos Business School energy transition project
By Mercy Omoike Lagos, June 1, 2022 Access Bank Plc has partnered the Lagos Business School (LBS) to fund the school’s 350KW and 152KWh hybrid power solutions project through its Sustainable Use of Natural Resources and Energy Finance (SUNREF) facility. This is contained in a statement by Mr Amaechi Okobi, …
Read More »Zenith Bank redeems $500m eurobond notes
By Olawunmi Ashafa Lagos, May 31, 2022 Zenith Bank Plc says it has redeemed a balance of 107 million dollars of its 500-million-dollar Eurobond Notes, due on May 30. In a statement obtained from the Nigerian Exchange Ltd., (NGX) and signed by Micheal Osilama Otu, Group Company Secretary/General Counsel, the …
Read More »Investment in FGN securities profitable, risk-free – DMO
DMO Director-General, Patience Oniha By Kadiri Abdulrahman Abuja, May 31, 2022 The Debt Management Office (DMO) says it is advisable for Nigerians to invest in the various Federal Government Securities, as they are profitable and risk-free. The Director-General of the DMO, Patience Oniha, said this in an interview with …
Read More »Pastor Adeboye inaugurates Premium Trust Bank in Asaba, prays for Delta
By Ifeanyi Olannye Asaba, May 30, 2022 General Overseer of Redeemed Christian Church of God (RCCG), Pastor Enoch Adeboye, on Monday, inaugurated a branch of the Premium Trust Bank in Asaba, Delta. The News Agency of Nigeria (NAN) reports that Pastor Adeboye, who was the Special Guest, was accompanied to the …
Read More »AGF Idris’ N200bn fraud scandal: Heads to roll as Buhari’s cabinet members, other appointees mentioned
The number of big shots in the current administration that may be consumed by the ongoing probe of the Accountant General of the Federation (AGF), Ahmed Idris, are increasing on a daily basis as the investigation proceeds. A highly placed source in the anti-corruption circle has informed Economic Confidential, that …
Read More »Dangote Refinery to expose Nigeria’s Downstream, Midstream sectors to Int’l Markets
The coming on stream of the 650,000 barrels-per-day Dangote Petroleum Refinery will guarantee availability of high quality environmentally compliant products in Nigeria, regional markets in West Africa, Southern Africa and inter-continental markets. The President/CE of Dangote Group, Aliko Dangote made this disclosure at the Nigerian Content Midstream – Downstream Oil and Gas …
Read More »Dangote still Africa’s Most Admired Brand for 5 consecutive years
The Pan-African and fully integrated conglomerate, Dangote Industries Limited (DIL) has again emerged as the most Admired Brand in Africa for the year 2022, for its leadership position in driving quality brands across the continent. Dangote won awards in 8 different categories, on Wednesday at the venue of the award …
Read More »CBN debunks rumour about sacking of bank’s governor, Emefiele
Emefiele By Kadiri Abdulrahman Abuja, May 25, 2022 The Central Bank of Nigeria (CBN) says online media reports purporting the sacking of the bank’s governor, Mr. Godwin Emefiele, are untrue. Head of Corporate Communications at the CBN, Osita Nwanisiobi, made the rebuttal on Wednesday in Abuja when he spoke with the News …
Read More »CBN raises MPR to 13%, retains other parameters; Ex-ANAN president commends MPC
By Kadiri Abdulrahman, Abuja/Ige Adekunle, Sango-Ota (Ogun) May 24, 2022 For the first time in over two years, the Central Bank of Nigeria (CBN) has increased the Monetary Policy Rate (MPR) to 13 per cent. Mr. Godwin Emefiele, Governor of the CBN, said this while reading the 285th communiqué issued at the …
Read More »Acting AGF, Anamekwe Nwabuoku allegedly under probe for corruption; Has few months before retirement
The newly appointed overseer of the Office of the Accountant General of the Federation (OAGF), Anamekwe Nwabuoku, has a heavy corruption dossier and is being investigated by the Economic and Financial Crimes Commission (EFCC), Economic Confidential can authoritatively report. Nwabuoku was on Sunday appointed to oversee the office in the absence of …
Read More »FG appoints Anamekwe Nwabuoku new Overseer for Accountant General’s Office
The Federal Government has appointed Mr. Anamekwe Nwabuoku to oversee the office of the Accountant-General of the federation (OAGF). The appointment was announced in a statement issued on Sunday by Yunusa Abdullahi, spokesperson to the Minister of Finance, Budget and National Planning, Zainab Ahmed. Nwabuoku’s appointment comes amid a …
Read More »Shell inaugurates Phase-2 of Oloibiri health programme
Energy company, Shell, has inaugurated the second and final phase of its comprehensive health care projects for Oloibiri and other communities in Ogbia Local Government area of Bayelsa State. “Corporate Social Responsibility means doing well. What you have done today means you’re doing well. You are impacting the lives …
Read More »Zinox mourns as Founding Member, Tech billionaire & whiz kid, David Kan, passes on
The management of Zinox Technologies Ltd., Nigeria’s foremost tech giant, has reacted with sadness to the news of the passing of David Kan, a founding member of its Board of Directors and CEO of Mustek Plc, a leading integrated technology group listed on the Johannesburg and Taiwan Stock Exchanges. David …
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