Metro

As a further demonstration of African Export-Import Bank’s (Afrexim) mandate to facilitate growth of intra-Africa trade and support the development of African businesses, the bank yesterday in Cairo, Egypt signed financing facilities totalling US$600 million with Heirs Holdings Group, a pan-African proprietary investment holding company. Heirs Holdings, which has significant investments across Africa, in the financial services, resources, real estate, …

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By Ulisanmi Edukugho On Wednesday 28th of November, 2018,was a very memorable day. On this day, Staff , students , parents , friends and well-wishers of International High School, Sapele, Delta- State, rolled out the drums to welcome their own who had made them proud – Miss Omesiri Odjegba winner of the UBA Foundation National Essay Competition 2018 ,held in …

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The Central Bank of Nigeria (CBN), in continuation of its intervention in the foreign exchange market, has injected another sum of $210 million to boost sales in the inter-bank segment of the market. In the sales conducted on Monday, December 10, 2018 and consummated on Tuesday, December 11, 2018, the Bank offered $100 million to authorized dealers in the wholesale …

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The Council of the Islamic Financial Services Board (IFSB) which has its headquarters in Kuala Lumpur, Malaysia, has admitted the Nigeria Deposit Insurance Corporation (NDIC) as a full member of the board. This was made known in a statement issued by Mohammed Kudu Ibrahim, head, Communications And Public Affairs, NDIC. “The NDIC joins the Central Bank of Nigeria (CBN) as …

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One of the International Monetary Fund’s top officials warned on Tuesday that “storm clouds” were gathering over the global economy. IMF First Deputy Managing Director, David Lipton, said that governments and central banks might not be well equipped to cope. Lipton said that the fund had been urging governments to “fix the roof” during a sunny last two years for …

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BudgIT, a civic organisation, has called for transparency and openness in the implementation of local government projects. The advocacy body said lots of funds are allotted yearly for capital expenditure yet capital projects are left undone or  uncompleted thereby giving room for critical gaps in infrastructural development in the country. In statement sent to nationalwire on Tuesday, BudgiT noted that …

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By Simon Ugwu Axxela Limited (“Axxela”), sub-Saharan Africa’s preferred fast-growing gas & power portfolio company, has signed a Gas Transportation Agreement (GTA) with the West African Gas Pipeline Company Ltd. (WAPCo) to transport over 15 million standard cubic feet per day (“mmscf/d”) of natural gas via the West African Gas Pipeline (WAGP) to Lome, Togo. During the signing ceremony held …

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…Proposed N13 Dividend Pay-Out For 2018 Considering its growth and development drive in the domestic economy as fund managers, the management of ValueAlliance has reiterated that the going concern will continue to return good yield to investors. The fund managers said that part of its new strategy going forward in 2019 is to continue to seek out suitable investment opportunities …

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In line with its commitment towards boosting savings culture and promoting financial inclusion in Nigeria, leading retail lender, Diamond Bank has rewarded 1,016 customers in its 3rd DiamondXtra quarterly draw. The draw which held over the weekend at its Mobolaji Bank-Anthony branch in Lagos, attracted some of the bank customers, journalists, and staff of the bank and some past winners …

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The Central Bank of Nigeria (CBN) is to sanction Banks, their customers, firms that abuse its policy restricting foreign exchange (forex) allocation to 41 items. According to the CBN, culprits are to be investigated by the Economic Intelligence Unit of the CBN in collaboration with the Economic and Financial Crimes Commission (EFCC). The CBN explained through its  Director, Financial Policy …

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