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Togo:Dangote builds $60m cement Plant

Togo:Dangote builds $60m cement Plant

Dangote Industries Limited has signed deals with the Government of Togo (GoT), to make phosphate into fertiliser and build a cement factory in that country. With over two billion tonnes of phosphate reserves, Togo is one of the leading phosphate producers in Africa. By partnering the Dangote Group, the country intends to benefit from the expertise and investment capacity of Africa’s largest ... Read More »

CISLAC tasks Buhari on CAMA Bill

CISLAC tasks Buhari on CAMA Bill

“While we are excited about the commitment of the present administration to wage war against corruption, we are, however, concerned over the inability of the administration to efficiently fulfil its promises on anti-corruption at global and national forums.” By Auwal Ibrahim Musa While we are excited about the commitment of the present administration to wage war against corruption, we are, however, concerned over the inability of the administration ... Read More »

Dangote Group, Togo partner to transform Phosphate into Fertiliser

Dangote Group, Togo partner to transform Phosphate into Fertiliser

With over two billion tonnes of phosphate reserves, Togo is one of the leading phosphate producers in Africa Press release: LOME, Togo, November 8, 2019/ — Dangote Industries Limited (Dangote.com) and the Government of Togo (GoT) have concluded an agreement to develop and transform Togolese phosphate into phosphate fertilizers for the West African sub-region; in a bid to improve consumption ... Read More »

Osinbajo Attends ECOWAS Summit In Niger Republic

Osinbajo Attends ECOWAS Summit In Niger Republic

Vice President Yemi Osinbajo is set to visit Niamey, Niger Republic for an extraordinary Economic Community of West African States (ECOWAS) Summit. Osinbajo is representing President Muhammadu Buhari at the meeting. A statement signed on Friday by Laolu Akande of the office of the Vice President explained that the Summit will include other ECOWAS Heads of State and Government and ... Read More »

Sanwo-Olu presents N1.168trillon 2020 budget

Sanwo-Olu presents N1.168trillon 2020 budget

Lagos Governor, Babajide Sanwo-Olu on Friday presented a total budget size of N1.168trillion for 2020 to the House of Assembly. The budget estimates consist of N723.6billion as capital expenditure and N441.8billion for recurrent expenditure, which is a ratio of 62-48 per cent. Tagged budget of re-awakening, the governor said there were needs for sacrifices to re-invent Lagos in order to ... Read More »

CCB, AGF move to block bank accounts of 200 public officers

CCB, AGF move to block bank accounts of 200 public officers

The Code of Conduct Bureau (CCB) is working with the office of the Attorney General of the Federation (AGF) to block bank accounts of 200 allegedly corrupt public officers. The move was initiated following the completion of an investigation of over 200 cases by the CCB involving about N40 billion. Chairman of CCB, Professor Mohammed Isah, who disclosed this yesterday ... Read More »

Nigeria Demands $62 Billion From Oil Majors for Past Profits

Nigeria Demands $62 Billion From Oil Majors for Past Profits

By: Dulue Mbachu and Elisha Bala-Gbogbo *Government demand based on October 2018 Supreme Court decision *State says oil companies failed to comply with 1993 law Nigeria is seeking to recover as much as $62 billion from international oil companies, using a 2018 Supreme Court ruling the state says enables it to increase its share of income from production-sharing contracts. The proposal comes as President ... Read More »

Nigeria’s Thirst for Higher Oil Revenue Could Hurt Investments

Nigeria’s Thirst for Higher Oil Revenue Could Hurt Investments

By  Elisha Bala-Gbogbo *Country risks seeing as much as $15 billion going elsewhere * Energy companies concerned about impact on existing contracts   Nigeria’s newly signed law to govern deep offshore oil operations set a record for the fastest bill so far passed under President Muhammadu Buhari. First presented to lawmakers on Oct. 2, it went through Parliament within two weeks before ... Read More »

Stanbic Bank Launches Product To Bridge Financial Gap

Stanbic Bank Launches Product To Bridge Financial Gap

Stanbic IBTC Holdings PLC, a member of Standard Bank Group, has launched the Stanbic IBTC @ease wallet, in line with its commitment to deepen financial inclusion and drive its digitisation agenda. The product is set to provide a unique range of financial services to the informally served, the underbanked and the unbanked on various structured platforms with the last 10 ... Read More »

Border closure not targeted at Igbo importers – Customs

Border closure not targeted at Igbo importers – Customs

The Nigerian Customs Services (NCS) on Thursday in Aba, the commercial nerve of Abia State debunked rumours making rounds that the joint border security exercise codenamed “Exercise Swift Response” was targeted at importers and exporters of various goods from the Southeast using the land borders.   This is even as the NCS maintained that the exercise was meant not only ... Read More »

Osinbajo, others applaud Dabiri-Erewa on Diaspora Investment Summit

Osinbajo, others applaud Dabiri-Erewa on Diaspora Investment Summit

Vice President Yemi Osinbajo and other speakers on Thursday applauded Hon Abike Dabiri-Erewa, Chairman/ CEO of Nigerians in Diaspora Commission (NIDCOM) and other stakeholders for organising 2019 Nigerian Diaspora Investment Summit (NDIS). They spoke at the second day and final day of the Summit held at the Banquet Hall of the Aso Villa, in Abuja. Osiy in his address titled: ... Read More »

Maina arrives court in wheelchair for bail application

Maina arrives court in wheelchair for bail application

Abdulrasheed Maina, Chairman, Pension Reform Task Team, was, on Thursday, wheeled into Court 6, Federal High Court, Abuja, where his bail application is expected to be taken. Maina, who was dressed in a light green colour caftan, was in a wheelchair. The former chairman of PRTM was looking pensive and sickly. The News Agency of Nigeria reports that Maina had ... Read More »

UBA partners BA to reward loyal customers

UBA partners BA to reward loyal customers

Pan African financial institution, United Bank for Africa (UBA) Plc and the global airline, British Airways have announced a collaboration to reward loyal customers who are cardholders of the Bank. The promo which will last for six months from November 2019, will witness UBA customers getting significant discounts when they purchase their British Airways tickets using their UBA cards.  The ... Read More »

FMBN unveils scheme for home ownership

FMBN unveils scheme for home ownership

As part of fulfilling its mandate of bridging housing gap that is currently posing a great challenge to the county, the Federal Mortgage Bank of Nigeria (FMBN) has unveiled various products for affordable homes. Speaking to journalist at the ongoing Lagos International Trade Fair, FMBN, Managing Director  Ahmed Dangiwa, said that the Bank has the primary mandate of financing affordable ... Read More »

NEITI: $42b lost to oil, products theft

NEITI: $42b lost to oil, products theft

The Nigeria Extractive Industries Transparency Initiative (NEITI) on Wednesday said crude oil and refined product worth $41.9 billion were stolen from the country in the last 10 years. Its policy brief titled:  Stemming the Increasing Cost of Oil Theft to Nigeria issued in Abuja urged the government to embrace oil finger printing technology, comprehensive metering infrastructure of all facilities, and ... Read More »

NIGER DELTA GOVERNORS ASKED FOR FORENSIC AUDIT OF NDDC-WIKE

NIGER DELTA GOVERNORS ASKED FOR FORENSIC AUDIT OF NDDC-WIKE

Rivers State Governor,  Nyesom Wike has labeled the Niger Delta Development Commission (NDDC) as a failed organisation.“Those who fought for the establishment of NDDC will weep that the Commission has deviated from its mandate.   NDDC has collapsed.” Governor Wike revealed that it was Niger Delta Governors that demanded for the forensic audit of the NDDC currently been done by the ... Read More »

Court rejects request to transfer Maina’s son from police custody

Court rejects request to transfer Maina’s son from police custody

A Federal High Court in Abuja has rejected the request by Faisal, the son of the former Chairman of Pension Reform Task Team, Abdulrasheed Maina, to be moved from his current detention facility of in custody of the Special Tactical Squad of the Nigerian Police Force. Faisal was arraigned on October 25, 2019 on a three-count charge, bordering on money ... Read More »

Wike endorses NDDC’s interim management committee

Wike endorses NDDC’s interim management committee

Rivers Governor, Chief Nyeson Wike, has endorsed the newly inaugurated Interim Management Committee of the Niger Delta Development Commission, (NDDC). Wike spoke at the Government House, Port Harcourt during a courtesy visit by members of NDDC’s new management, led by the Acting Managing Director, Dr. Joi Nunieh. The NDDC chief was accompanied by the Acting Executive Director, Finance and Administration, ... Read More »

Dokpesi: looters list damaged my name

Dokpesi: looters list damaged my name

The Chairman of Daar Communications Plc, Chief Raymond Dopkesi, on Tuesday recounted his sad experience following the release of alleged looters’ list which contained his name. The businessman told the Federal Capital Territory (FCT) High Court, Apo, Abuja, that everybody treated him like a plague after his name appeared on the list released by the Federal Ministry of Information and ... Read More »

Ernest Ndukwe resigns from Access Bank board

Ernest Ndukwe resigns from Access Bank board

Access Bank Plc, on Tuesday, announced the resignation of Dr Ernest Ndukwe as an Independent Non-Executive Director from its board. This was contained in a statement issued by Mr Sunday Ekwochi, the bank’s Company Secretary and posted on the Nigerian Stock Exchange website. “The Board of Directors of Access Bank hereby announces that Ndukwe has indicated his intention not to ... Read More »