Rivers economy: Wike lists Amaechi’s N131.28bn monorail, hospital, model schools, others as white elephant projects
Aderemi OjekunleSeptember 28, 2020
Ben Eguzozie, in Port Harcourt As state’s investment climate blurs more The unending political spat between incumbent Rivers governor, Nyesom Wike, and his immediate predecessor, Rotimi Amaechi, which had eminently pounded the state’s $23 billion GDP economy was up again at the weekend. This time, both Ikwerre-born brothers used the burial of Adolphus Karibi-Whyte, a […]
Nigeria’s telco, 9mobile, to support country’s digital economy policy, strategy for growth
Saviour AdugbaSeptember 28, 2020
Nigerian mobile operator, 9mobile, has lent its support to the federal government’s drive for economic growth through its digital economy policy and strategy. This was made known when Alan Sinfield, the company’s chief executive officer, led the company’s management team to pay a courtesy visit to Isa Pantami, Nigeria’s minister of communications and digital economy […]
BUA pledges support for AfCTA infrastructure projects, addresses despondent challenges affecting success
Onome AmugeSeptember 28, 2020
Onome Amuge Nigerian leading foods, mining, manufacturing and infrastructure conglomerate, BUA Group, has expressed its interest to support the success of the Africa Continental Free Trade Area (AFCFTA) towards bolstering infrastructure projects across the continent. Abdul Samad Rabiu, executive chairman and chief executive officer of BUA Group made the pledge when he received Wamkele […]
Alta Semper to inject fresh capital as HealthPlus appoints Okoro as CTO
Businessam StaffSeptember 28, 2020
New funding is to accelerate growth; Utilize emerging opportunities in global healthcare Alta Semper Capital, which controls the majority shareholding in HealthPlus, the Nigerian headquartered leading West African pharmaceutical chain, is planning to inject fresh funds into the business, it has been confirmed. Information about this plan is coming amid the announcement of the appointment […]
Julius Berger board approves firm’s diversification into agro-processing
Charles AbuedeSeptember 25, 2020
Charles Abuede Julius Berger, the Nigeran construction and engineering giant, is diversifying into opportunities in agro-processing following approval by the board of directors of the company. The company said in a statement that it believes strongly that this diversification direction would support the continued success of the group in the future and also align with […]
CBN applies moral suasion on banks to raise agriculture lending to 10%
Onome AmugeSeptember 17, 2020
Onome Amuge The Central Bank of Nigeria (CBN) has persuaded commercial banks operating in the country to increase their lending rate to the agricultural sector from four percent to 10 percent over the next four years. Godwin Emefiele, governor of the apex bank, made the appeal on behalf of stakeholders in the agriculture sector while […]
After Covid-19, what is next for Islamic banking?
Businessam StaffSeptember 17, 2020
While Islamic banks emerged relatively unscathed from the 2008 global financial crisis, Covid-19 is having a deeper impact. Nevertheless, the disruption could provide opportunities to diversify the sector and accelerate its ex- pansion once the pandemic subsides. Relative to conventional institutions, Islamic banks are more exposed to small and medium-sized enterprises (SMEs), microfinance and retail […]
Pandemic risks to shape short-medium term treasury strategy, says EIU survey
Charles AbuedeSeptember 17, 2020
Charles Abuede Corporate treasury strategy around the world will have the most impact from the risk of the global pandemic by as much as 43 per cent in the short term, and 27 per cent in the medium term, a new report by the London-based Economist Intelligence Unit (EIU) has projected. The report titled: “The […]
NNPC legal team wins Africa Arbitration award after saving $4bn in national liabilities
Onome AmugeSeptember 16, 2020
Onome Amuge The litigation team of the Nigerian National Petroleum Corporation (NNPC) have emerged winners of the Leading Case Counsel Team of the 2020 Africa Arbitration Awards. The international event in which participants joined virtually is the 8th edition of the East African International Arbitration Conference (EAIC), which was held in Nairobi, the capital of […]
BUA makes N350m fresh donation to COCAVID, N100m flood relief support to Kebbi
Onome AmugeSeptember 16, 2020
Onome Amuge BUA Group, one of the leading foods and infrastructure conglomerates in West Africa, has made a further donation of N350 million to the Coalition Against Covid-19 (CACOVID). The fresh donation to the group brings to N1.3 billion the amount BUA has made towards combating the COVID-19 crisis in Nigeria through COCAVID. In a separate […]