Business

25 Days of Awesomeness: Cash Prizes, Beats by Dre, DSTV explorers up for grabs in Cashless December Pan-African financial services group, United Bank for Africa Plc, UBA, has announced the commencement of its annual end of year campaign, Cashless December. This year’s edition has been themed “25 Days of Awesomeness” and it seeks to reward cashless living. Customers who use …

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Fertilizer: Dangote, Moroccan Group sign MoU The Nigeria’s agricultural sector has received a major boost as the Dangote Group and the OCP Group of Morocco on Friday in Abuja signed a Memorandum of Understanding (MoU) to bolster fertilizer production and business in the country. The Dangote-OCP partnership is expected to lead to the creation of an integrated African platform and …

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SEC, Fund Managers Work on E-Transfer to Boost Financial Inclusion The President of Fund Managers Association of Nigeria (FMAN), Dr. Ore Sofekun has said that the association is working with the Securities and Exchange Commission (SEC) on electronic transfer of funds so as to boost financial inclusion. Speaking at the annual workshop of Capital Market Correspondents Association (CAMCAN) of Nigeria …

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Tony Elumelu Foundation Announces 3rd Round of TEF Entrepreneurship The Tony Elumelu Foundation (TEF) will begin accepting applications for the third round of the TEF Entrepreneurship Programme. The Programme is the Foundation’s 10-year, US$100 million commitment to training, mentoring and funding 10,000 African entrepreneurs. The application portal will be open until midnight (WAT), March 1, 2017. Entrepreneurs must complete the …

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Elumelu Shares Africapitalism Philosophy In North Africa Calls On African Leaders To Create Youth Business Champions, Not Martyrs Fifteen delegations representing the United Nations and several countries, including Germany, Canada, France, Qatar and Algeria took part in the Tunisian government’s International Investment Conference dubbed “Tunisia 2020.” In the last 5 years the Tunisian economy has struggled following a democratic uprising …

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Ngozi Okonjo-Iweala Receives The 2016 Global Fairness Award Former minister of finance, Dr. Ngozi Okonjo-Iweala has been honored with the Global Fairness Award in Washington DC, United States. The award was presented to her by the Global Fairness Initiative in recognition of her contribution to sustainable development, through serving others, and her consistent focus on implementing development programs that benefit …

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State Government Submitts Claims For Reimbursement Over-Deductions On Paris Club Loans State Governments have submitted to the Federal Government (FG), claims of over-deductions for external debt service arising between 1995 and 2002 as a result of First Line Charge deductions from the Federation Account Allocation Committee (FAAC) allocations. These debt service deductions are in respect of the Paris Club, London …

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UBA, AfDB sign $150m Loan Agreement The African Development Bank Group (AfDB) and United Bank for Africa Plc (UBA) have signed a US$ 150 million loan agreement to finance infrastructure and SME projects, including women-owned enterprises in Nigeria. “The Fund will support development of productive sectors of the economy; particularly the power sector, Infrastructure, Women owned enterprises as well as …

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FG audits 33 agencies, uncovers N450 bn unremitted revenue The Federal Government is set to recover about N450 billion operating surpluses that were not returned by 33 agencies from 2010 to 2015. According to agency report, the Minister of Finance, Kemi Adeousun, made the announcement on Thursday in Abuja at a news conference. She said that an audit had been …

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Power generation drops to 3,321mw The nation’s power generation capacity has dropped from 4,285 megawatts recorded on September 16 to 3,321 megawatts on December 1 due to dearth of gas, the News Agency of Nigeria (NAN) reports. NAN reports that this figure was obtained frokm the website of Nigerian Electricity System Operator on Thursday. The Transmission Company of Nigeria (TCN), …

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