By Ayomide Otitoju The African Export-Import Bank (Afreximbank) has joined a consortium of financial institutions to finalize a historic €2 billion syndicated term loan facility for Nigeria’s Bank of Industry (BoI). The signing ceremony took place in London, marking a significant milestone in efforts to bolster Nigeria’s industrial and economic transformation. In a statement released…
By Ayomide Otitoju FirstBank has announced a landmark achievement with the registration of its subsidiary, First Nominees Nigeria Limited, as Nigeria’s first nominee company in the capital market. The registration, confirmed by the Securities and Exchange Commission (SEC) on November 22, 2024, positions First Nominees as a fully-fledged capital market operator. In a statement on…
By Aypmide Otitoju First City Monument Bank (FCMB) has disbursed N23 million to winners of its 2024 Agritech Hackathon and Venture-Building Programme, recognising their innovative solutions to challenges in Nigeria’s agribusiness sector. In a statement released on Monday, the bank revealed that the three-month-long hackathon, powered by Heave Ventures and supported by the Dutch Entrepreneurial…
By Ayomide Otitoju United Bank for Africa (UBA), through its corporate social responsibility arm, UBA Foundation, has donated ₦500 million to the Lagos State Security Trust Fund (LSSTF). The cheque was presented on Sunday at the State House, Marina, by UBA Group Chairman Tony Elumelu, accompanied by Deputy Managing Director Muyiwa Akinyemi. Elumelu emphasized the…
By Ayomide Otitoju The Nigerian National Petroleum Company Limited (NNPCL) played a critical role in addressing liquidity challenges faced by the Dangote Refinery through a $1 billion loan backed by the company’s crude oil. This strategic intervention facilitated the establishment of Nigeria’s first private refinery. This was disclosed by the Chief Corporate Communications Officer of…
By Ayomide Otitoju At a recent event focused on femicide and its societal impact, Mrs. Aramide Awosanya, General Manager of Business Development at Lotus Bank, represented the bank’s CEO, Mrs. Kafilat Ayodeji Arawi. Speaking on the topic “The Role of Culture and Societal Expectations in Addressing Femicide”, Mrs. Awosanya emphasized the need to tackle violence…
By Ayomide Otitoju The Managing Director of NNPC Foundation, Mrs. Emmanuella Arukwe, has highlighted the benefits of the NNPC-NYSC Empowerment Programme during an address to corps members at the NYSC Orientation Camp in Abuja. The initiative, a collaboration between the NNPC Foundation and the National Youth Service Corps (NYSC), is designed to combat Nigeria’s unemployment…
By Ayomide Otitoju Nigeria’s headline inflation rate rose to 34.60% in November 2024, up from 33.88% in October, according to the latest report from the National Bureau of Statistics (NBS) released on Monday. This represents an increase of 0.72 percentage points compared to October’s inflation rate. On a year-on-year basis, the November inflation rate is…
By Ayomide Otitoju December in Nigeria is a cherished season of relaxation, celebration, and bonding as people wind down from the year’s hustle and bustle. The month comes alive with vibrant arts and entertainment, including plays, concerts, operas, fashion shows, and poetry performances. The streets sparkle with colorful decorations, fireworks, and carnivals, while family and…
