Nigeria’s Wema Bank plans to issue 20 billion naira of debt in August to boost its capital adequacy, its acting chief executive said on Thursday. “We need to enhance our funding. The bank is in the process of raising Tier II and the offer will be opened in August,” Ademola Adebise told an analysts’ call. […]
Egyptian investment bank EFG Hermes said on Thursday it will acquire Nigerian broker Primera Africa as it pushes to expand its capital market business across frontier markets. EFG Hermes said it entered Nigeria because it was one of the largest frontier markets globally with long-term growth opportunity after undergoing a series of reforms including currency […]
A shift away from concerns about spare capacity to robust oil supply levels helped push the price of oil lower before the start of U.S. trading Thursday. Higher crude oil prices caught the attention of U.S. President Donald Trump in early July, prompting a call for more oil from Saudi Arabia. A delicate balance between […]
The Chartered Institute of Forensic and Investigative Auditors (CIFIA) has cautioned the Institute of Chartered Accountants of Nigeria (ICAN) against misleading the public on the essence of the CIFIA Bill recently passed by the Senate. CIFIA’s protem President, Dr Victoria Enape, who briefed newsmen on Wednesday in Abuja, described ICAN’s claims on duplication of functions […]
Nigeria’s upper house of parliament will investigate anomalies in the renewal of oil leases by the ministry of petroleum, it said on Wednesday. Nigeria is Africa’s biggest crude oil producer and oil sales make up around two-thirds of government revenue. Oil companies must periodically renew their oil block licences to continue extraction or exploration. The […]
Nigeria plans to re-launch a national airline in December, its junior aviation minister said on Wednesday, as the government seeks to make good on President Muhammadu Buhari’s election campaign promise to introduce a new carrier. Decades of neglect and lack of investment have left Nigeria with low-quality infrastructure seen as a hurdle to prosperity. The […]
Nigeria has opened a new Chinese-built light railway network in the capital Abuja after 11 years of construction, a rare transport project in a nation where economic growth has been stymied for generations by a lack of infrastructure development. Passengers were permitted this week to ride the first phase of the Abuja light railway system, […]
Marvel Entertainment is working on a spin-off film following the success of Black Panther. . The film was listed as the 10th-highest box office earner of all time, making $1.2bn ( £916m), Forbes reported in April. The series will be based on T’Challa’s younger sister, Shuri. The character was played by Guyanese-British actress Letitia Michelle […]
A bitter row has flared up between a Spanish rescue charity and the Italian government after a dead migrant woman and child were found off Libya. Proactiva Open Arms posted images of the bodies and its rescue of a surviving Cameroonian woman clinging to timber on their deflated dinghy. The charity said the Libyan coastguard […]
The report, launched by UNAids, says half of the people who are newly infected with the virus are not receiving the treatment they need to prolong their lives. Nearly 37 million people across the world are living with the virus that causes Aids. The syndrome kills about one million people each year. UNAids is warning […]