Business

NNPC, IOCs seal oil financing deals

The Nigeria National Petroleum Corporation (NNPC) and local arms of Chevron and Shell have signed alternative financing deals for key projects expected to boost Nigeria’s oil and gas reserves, improve power supply as well as support government’s effort to cut gas flaring. The alternative financing of the Sonam Project (Project Falcon) was signed in London, […]

Business

BoA targets 15m rice farmers

The Bank of Agriculture (BoA) is targeting about 15 million smallholder rice farmers in the next two years. The bank said the idea is to engage rice farmers and to ensure the availability of food in the country. Managing Director, BOA, Kabir Adamu, said this while playing host to the Director General of National Orientation […]

Business

LASG commences moves to end multiple taxation

LAGOS State government has commenced moves aimed at harmonising collection of taxes, levies and fees by all revenue generation agencies at both the state and local government levels. Taxation symbol Commissioner for Finance, Akinyemi Ashade, who made the disclosure at the 2017 Tax and Revenue Stakeholders Forum, said the measure to harmonise taxes became necessary […]

Business

Providus Bank opens shop

A little over one year after it was granted commercial banking license with regional authorisation by the Central Bank of Nigeria (CBN), the shape of Providus Bank brand is gradually emerging. The bank consolidated itself with the inauguration of its ultramodern headquarters, last week, in Victoria Island, Lagos. The Managing Director of Providus, Walter Akpani, […]

Business

ntel names Ehiagwina as Acting CEO

Following the resignation of pioneer Managing Director/Chief Executive Officer, Mr. Kamar Abass, ntel, Nigeria’s first 4G/LTE-Advanced network on Tuesday appointed Abhulime Ehiagwina as Acting CEO. A statement signed by Director, External Affairs, Osondu Nwokoro,  said, “Mr. Abass stepped down from his role as CEO due to urgent personal and medical considerations.” Osondu said Abhulime Ehiagwina […]

Business

Nigerian banks extend 9mobile’s loan

By Chijioke Ohuocha A group of Nigerian banks has agreed an extension to a $1.2 billion loan made to 9mobile (formerly known as Etisalat Nigeria) pending the mobile operator finding new investors, First City Monument Bank said on Tuesday. Nigerian regulators stepped in last month to save Etisalat Nigeria from collapse and prevent lenders placing […]

Business

Masari to revive moribund industries

Katsina state government is to revive all the moribund industries in the state to boost revenue and provide employment opportunities to its teeming youths, Governor Masari has said. The governor listed the industries to include; the Kankara Kaolin Factory, Daura Leather works, Mani Flour mills, Funtua Burnt Bricks, Danja Sugar factory and other various fertiliser-blending […]