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Nigeria to get $121m from Trump’s $639m aid to 4 afflicted countries

GERMANY-G20-SUMMIT

More international assistance is on the way from the United States Government as President Donald Trump on Saturday promised $639m in aid to feed people facing starvation because of drought and conflict in Northeast Nigeria, Somalia, South Sudan and Yemen. Of the funding, $121m would go to Nigeria, according to Rob Jenkins, Acting Head, Bureau of Democracy, Conflict and Humanitarian ...

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Resilient Trump secure key climate, trade concessions at stormy G20

GERMANY-G20-SUMMIT

Over the weekend at Hamburg meeting of the G20, the US President, Donald Trump won key concessions on climate and trade from world leaders at the most fractious G20 summit to date, in exchange for preserving the unity of the club of major industrialised and emerging economies. Business Hilights gathered that in a final statement agreed by all 20 economies, ...

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Etisalat’s destiny to be decided in six months as new appointees take charge

Nnanna Etisalat

Though the safety of subscribers is now guaranteed, issues surrounding who will own Etisalat Nigeria is expected to be figured out within the next six months of the transition managers headed by former deputy governor of the Central bank of Nigeria (CBN), Dr. Joseph Nnanna. Otherwise, the current ad-hoc seven-member board will among other things determine the affairs of the ...

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What I want to see is Africans investing in Africa—-Elumelu

Tony Elumelu

The Chairman of Heirs Holdings, and the Tony Elumelu Foundation (TEF), Tony Elumelu, has begun a new continental campaign designed to drive massive in-continent investments by citizens of the African continent. Speaking in Kigali, Rwanda at the recent African Export-Import Bank (Afreximbank) on ‘Cross-Border Investments as a Driver of Intra-African Trade and Industrialisation: Reflections from a Continental Business Leader,’ he ...

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Why Nnanna, Ex-CBN Dep. Gov. was appointed to lead turnaround of Etisalat Nigeria

Nnanna Etisalat

More details have emerged on the choice the former deputy governor, Financial System Stability of Central Bank of Nigeria (CBN), Dr. Joseph Nnanna, as the new chairman of Etisalat Nigeria. It would be recalled a new board of directors and management were hurriedly reconstituted for the embattled telecoms made of representatives of the Central Bank of Nigeria (CBN) and the ...

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Why Ashaka Cement exited Nigerian Stock Exchange

Ashaka Cem

More facts have emerged, giving explanations to why Ashaka Cement Plc voluntarily delisted from the Nigerian Stock Exchange (NSE). The company announced its voluntary withdrawal in a statement posted on NSE website by the company’s directors, linking its withdrawal to the violation of the exchange free float deficiency provision of 20 per cent. The company opted for voluntary delist to ...

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Why Citibank granted N500m loan for microfinance development in Nigeria

Citibank N

In other to support the development of approximately five thousand micro and small enterprises in the country, Citibank Nigeria has extended a loan of N500 million to Accion Microfinance Bank (Accion MFB). Citibank in a statement said the agreement will also support the Central Bank of Nigeria (CBN) National Financial Inclusion Strategy (NFIS) to reduce the number of excluded population ...

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Zenith Bank leads other 5 banks to make 1000 Global Banks bracket

Zenith bank HQ

The Banker Magazine’s Top 25 Banks in Africa for 2017 Global banks’ ranking made public on Tuesday saw Zenith Bank leading FirstBank Nigeria Limited, Guaranty Trust Bank Plc, Access Bank Plc, United Bank for Africa Plc and Diamond Bank Plc as among six Nigerian banks in the global 1000 financial institutions. This is as Africa’s top three positions were swept ...

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Paucity of fund hits FG as it can’t pay IOCs $1bn in JV cash call since April

nnpc

Just as the Federal Government is yet to release the celebrated N350bn, it has not still offset a total of $1.07bn in cash call required for the development of joint venture (JV) assets for the first four months of the year. The apex government had on presentation of the 2017 budget breakdown told Nigerians that it will release the amount ...

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African banks embracing disruptive technologies a lot quicker—Agbaje, GTB Boss

GTBank-MD-Segun-Agbaje

Managing Director and CEO of Guaranty Trust Bank (GTBank), Mr. Segun Agbaje has revealed the African banking sector is very much ahead in terms of mobile banking because they are smart and quicker in embracing disruptive technologies. In a recent interview in Lagos, he said “When I look at our mobile technology compared to a lot of developed economies, I ...

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