Former President Olusegun Obasanjo, on Saturday, unveiled a book on how the Soludo-engineered consolidation transformed Nigerian banks. Obasanjo, who was represented by a former Cross River State Governor, Donald Duke, at the unveiling of the book written by the Chief Executive Officer of Centre for Financial Journalism, Dr Ray Echebiri. The title of the book …read more →
Economy
ACT Foundation Opens Applications for Changemakers Innovation Challenge 2024
Aspire Coronation Trust (ACT) Foundation has announced the opening of applications for the 2024 Changemakers Innovation Challenge. Themed The theme for this year’s Changemakers Innovation Challenge is “Driving Change With Digital Innovation,” this initiative seeks to empower community non-profit organisations and social enterprises that utilise technological advancements to create grassroots impact and enhance the lives …read more →
Nigerian Banks Launch N1 tn Recapitalization Effort Amid Regulatory Push
The banking sector in Nigeria is poised for significant changes as four commercial banks move to raise over N1 trillion in the initial phase of a recapitalization drive aimed at strengthening their financial positions. Fidelity Bank Plc, Access Holdings Plc, Guaranty Trust Holding Company (GTCO) Plc, and FCMB Group Plc are leading the charge to …read more →
NNPC Commissions 12 CNG Stations, to Build Three LNG Stations, 100 CNG Sites
The Group Chief Executive Officer of NNPC Limited Mallam Mele Kyari has declared that the drive to bring Compressed Natural Gas (CNG) closer to Nigerians has since commenced and is irreversible. Kyari, who disclosed this on Thursday during the simultaneous commissioning of 12 CNG stations in Abuja and Lagos, said in addition to the massive …read more →
Access Bank Ranked as Nigeria’s ‘Most Valuable Brand’ by Brand Finance
Access Bank has once again been recognised as Nigeria’s most valuable brand, according to the latest data from Brand Finance. The 2024 report reveals a remarkable 73% increase in Access Bank’s brand value, solidifying its position as the most valuable banking brand in Nigeria. This marks the third consecutive year that Access Bank has held …read more →
Wärtsilä to Operate & Maintain 50MW Power Plant in Kogi
Technology group Wärtsilä has signed a ten-year Operations and Maintenance (O&M) Agreement for a captive power plant providing the energy for a Nigerian cement producing facility. The new cement plant is owned by Mangal Industries and is located in Kogi State, Nigeria. The order was booked by Wärtsilä in Q2, 2024. The power plant is critical …read more →
NUPRC Leads Industry Dialogue on Divestment
In a bid to foster transparency and efficiency in the Nigerian oil and gas sector, Engr. Gbenga Komolafe, the Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, has spearheaded an industry dialogue focused on divestment. The dialogue, which centered on the divestment framework initiative, attracted key stakeholders within the oil and gas …read more →
Oyo State, Shell Nigeria Sign $100 Mn Deal for Gas Infrastructure Development
The Oyo State government, in collaboration with Shell Nigeria, has sealed a $100 million contract for the development and distribution of gas infrastructure under the Build-Own-Operate-Transfer (BOOT) model. Governor Seyi Makinde announced the milestone via his X platform, revealing that the signing ceremony took place in London. Makinde provided insights into the project, highlighting its …read more →
Fitch Revises Nigeria’s Economic Outlook to Positive, Citing Recent Reforms
Global ratings agency Fitch revised Nigeria’s outlook on Friday to positive from stable, citing the country’s economic reforms under President Bola Tinubu. Since taking office about a year ago, President Tinubu has embarked on sweeping reforms, including slashing costly petrol and electricity subsidies and devaluing the naira currency twice within a year to narrow the …read more →
Access Holdings Announces US$1.5 Billion Capital Raising Programme
Access Holdings Plc, one of Africa’s leading financial groups, has unveiled plans to establish a Capital Raising Programme of up to US$1,500,000,000.00 (One Billion, Five Hundred Million United States Dollars) or its equivalent (‘the Programme’). The Programme aims to enhance the Group’s financial strength through the issuance of various financial instruments such as ordinary shares, …read more →