Gov. Babajide Sanwo-Olu of Lagos State on Tuesday signed N134.815 billion bonds in a bid to deliver key infrastructure projects in the state. Speaking at the signing ceremony, Sanwo-Olu said that one of the projects the proceeds from the bonds was meant for, was the total overhaul of 33 public schools in Tolu Complex area…
The Consul General of France in Lagos, Ms Laurence Monmayrant, has said that Nigeria attracts 60 per cent of Foreign Direct Investments coming into West Africa from France. This was disclosed during the closing-gong ceremony for the Franco-Nigerian Chamber of Commerce and Industry, in honour of the French Consul General in Lagos on Tuesday, which…
The Kaduna Zonal Command of the Economic and Financial Crimes Commission, EFCC has secured the conviction of one Ibrahim Musa Dabai before Justice M.N Yunusa of the Federal High Court sitting in Kano, Kano State on a one count charge bordering on tampering with Nigerian currency. Mr Ibrahim, was arrested by officers of the National…
In a bid to support the growth of Nigeria’s GDP amid difficult business environment, the Grooming Endowment Trust has said it will grant 15 micro, small and medium enterprises N12.5m for business growth. A statement, the organisation said this would kick-start the second edition of its MSME grant programme.It added that through the provision of…
A Nigeria’s non-interest capital market player, Marble Capital Limited, on Wednesday launched Marble Halal Commodities Fund to deal in agro-economic and extractive sectors. The commodities fund is the first of its kind to be approved by Securities and Exchange Commission, SEC, the capital market regulator in the country. The new asset class, an initial three…
The Central Bank of Nigeria, CBN, says the validity of Bank Verification Number (BVN) isn’t time bound as reported in some quarters of the media. Its Acting-Director, Corporate Communications, Alhaji Isa Abdulmumin, said this in a statement on Wednesday. Abdulmumin said that the claim was completely false and therefore advised bank customers to be guided, accordingly. “The…
A billionaire investor Femi Otedola has told a history of his business dealings with Chairman of United Bank of Africa (UBA), and Transcorp Plc Tony Elumelu, suggesting treacherous experience. Otedola, in a series of social media posts in his verified handles, said, “In 2005, while Tony was the Managing Director of Standard Trust Bank he…
The Debt Management Office, DMO, says the securitisation of CBN’s N22.7 trillion “Ways and Means Advances’’ to the Federal Government will improve debt transparency. “Ways and Means Advances’’ allows the Federal Government to borrow short-term or emergency loans from the CBN to cushion expected cash receipts shortfalls. The Senate on Wednesday approved a request by…
Sterling Bank has recorded N19.3 billion profit after tax for 2022 financial year ended December 31. According to the bank in a statement on its earnings on the Nigerian Exchange, the profit in the year under review rose by 28.5 per cent from N15bn in the corresponding period of 2021 financial year. Sterling’s assets grew…
The Nigeria Sovereign Investment Authority, has launched two companies as part of its efforts to deepen Healthcare financing in Nigeria. The two companies, according to the managers of Nigeria’s Sovereign Wealth Fund, are NSIA Advanced Medical Service Ltd and Equilease Systems Limited. A statement said this came after the receipt on Monday, of the Enugu…
