Business

Nigeria LNG Limited, on Wednesday at the World LNG Summit holding in Portugal, announced that the company, with the full support of its Board, is making steady progress towards achieving Final Investment Decision (FID) on its Train 7 Plus (7+) project during 2018. According to a statement issued by General Manager, External Relations, Kudo Eresia-Eke, the phase of the company’s strategic growth programme will on …

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Heritage Bank Plc has registered its presence in Ogijo in the Sagamu Local Government Area of Ogun State; with the commissioning of Dunmop Ventures as agent banking partner under the financial inclusion policy of the Central Bank of Nigeria (CBN) which is designed to bring banking services to the under-banked in Nigeria. The bank recently inaugurated the corner shop as …

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The Minister of Finance, Mrs Kemi Adeosun on Wednesday announced the suspension of the Director-General of the Securities and Exchange Commission, Mr. Mounir Gwarzo, over an allegation of financial impropriety levelled against him. Also suspended are two management staff of the Commission. They are Head of Media Division, Mr. Abdulsalam Naif, and Head of Legal Department Mrs. Anastasia Braimoh. Both …

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Pan-African financial institution, United Bank for Africa (UBA) Plc, has continued to make waves and positive impact in the local and global financial industry earning more laurels and accolades. Last weekend, UBA carted away two key industry awards emerging the Winner of the 2017 Sectoral Leadership Awards – Financial Services (Banking) organised by the PEARL Awards; as well as the …

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The Federal Government has finally taken over the Lagos International Trade Fair Complex (LITFC) over alleged breach of agreement by the concessionaire, Aulic Nigeria Limited. At a press conference in Lagos on Tuesday, the Executive Director/CEO, LITFC Management Board, Mrs. Lucy Ajayi, said the concessionaire breached the agreement by not remitting N6 billion in lease fees to the Federal Government. …

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The Board of Directors of the African Development Bank Group (AfDB) on Tuesday approved $10 million equity investment in Phatisa Food Fund2 (PFF2) to boost agriculture and nutrition across Africa. The PFF2 is a second generation Fund which builds on the success of its predecessor African Agriculture Fund (AAF), sponsored by AfDB along with other DFIs including the French Development …

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A new report has shown that Nigeria owes 51 per cent of its cumulative $15.35 per cent external debt to the World Bank Group. A report by FBN Capital research titled: ‘External Debt Ratios to Savour’ said the Federal Government of Nigeria’s (FGN’s) external debt obligations at end-September amounted to $15.35 billion, equivalent of 3.9 per cent of 2016 Gross …

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Some senators on Tuesday described the projections contained in the 2018 budget proposal presented by President Muhammadu Buhari as unrealistic. The senators who spoke during the debate on the general principle of the fiscal document also faulted what they described as ‘abysmal implementation of the 2017 budget’. The Senate leader, Ahmad Lawan had while giving the overview of the budget …

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The Development Bank of Nigeria (DBN) on Monday October 30, 2017 officially commenced lending to Participating Financial Institutions (PFIs) for on-lending to Micro, Small and Medium Enterprises (MSMEs). At the exercise in Abuja, the bank disbursed N5 billion to three micro finance banks, LAPO Microfinance Bank, Fortis Microfinance Bank and NPF Microfinance Bank in varying proportions for on-lending to end …

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The Independent National Electoral Commission says it will partner political parties and other stakeholders in Ebonyi to ensure that the state records credible election in 2019. The Resident Electoral Commissioner in the state, Prof. Godswill Obioma, stated this while briefing newsmen on Wednesday in Abakaliki on the outcome of a meeting between the commission and Inter-Party Advisory Council. He said …

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