Banking and Finance News & Reports Technology

Access Bank Commences Accelerator Program … To Empower Startups Throughs Africa Fintech Foundry (AFF)

The Africa FinTech Foundry (AFF), an initiative of Access Bank Plc has commenced its accelerator programs The initiative is set to empower emerging startups, with mentorship programs, advisory and has committed N10 million in cash to the top three finalists. The accelerator program which opened its entries last month, received 306 registrations and after rigorous …read more →

Banking and Finance News & Reports

Fidelity Bank Plc Successfully Issued the Largest Ticket Tier II Local Bonds in Nigeria

Fidelity Bank Plc has successfully issued 10 years N41.21 billion in fixed rate unsecured subordinated bond at a 8.5 percent coupon rate due in 2031. The bond issuance which was fully subscribed given that total investor interest and commitments in the bonds were N56.6 billion, adds to the impressive portfolio of landmark transactions structured by the bank, …read more →

Banking and Finance Economy News & Reports

CBN Directs Banks to Shut Down Cryptocurrency Accounts

The Central Bank of Nigeria has ordered all banks to close accounts of anyone who transacts in cryptocurrency. The order was contained in a circular to banks and other financial institutions, signed on Friday by the Director of Banking Supervision, Bello Hassan, and it is expected to take effect immediately. According to the CBN, dealing …read more →

Banking and Finance News & Reports Technology

Africa Fintech Foundry to Boost Innovation and ‘Techpreneurs’ With 2021 ‘Accelerator’ Programme

Africa’s foremost innovation hub, the Africa Fintech Foundry (AFF), has opened up its registration portal for the 2021 Accelerator program. The initiative, which is being executed in partnership with Access Bank Plc, seeks to fast-track the growth of the best start-ups operating within the African technology ecosystem. The ‘Accelerator’ programme will fast track and assist …read more →

Banking and Finance News & Reports

Fidelity Restates Support To Small Business As Enugu First Lady, ABCON Commend Bank

Fidelity Bank Plc, top Nigerian lender has reaffirmed its commitment to enhancing the productivity and prosperity of Micro Small and Medium Enterprises (MSMEs) in the country by providing capacity building and advisory services, innovative funding options and other forms of relevant support that would significantly improve their overall contributions to national development.  Fidelity CEO, Mrs. …read more →

Infrastructure Financing News & Reports

States Eye Capital Market for Funds to Develop Infrastructure

State governments have begun approaching the capital market through bonds to develop infrastructure in their states. Many of the states are in dire financial straits owing to the economic headwinds caused by the double jeopardy of the COVID-19 pandemic and the sharp drop in global oil price that have depleted their main sources of revenue …read more →

Health Housing Infrastructure News & Reports

Sanwo-Olu to Commission Health, Housing Infrastructure Projects in Badagry

The historic town of Badagry will soon host the Lagos State Governor, Mr. Babajide Sanwo-Olu, as he is set to commission Housing and Health projects in furtherance of his administration’s T.H.E.M.E.S Agenda. Mr. Governor will open the Affordable Public Housing Scheme in Idale, Badagry. The scheme, which has 252 units of two-bedroom bungalows, was built …read more →

News & Reports

Russian Technical Audit Team to Visit Ajaokuta Steel, Iron Ore Mining Firm

A Technical Audit Team from Russia is expected to embark on visitation to the country’s Ajaokuta Steel Company Limited (ASCL) and National Iron Ore Mining Company Limited (NIOMCO) as part of bids to revamp the plants. In a statement on Monday by the federal ministry of information, the Permanent Secretary of the Ministry of Mines …read more →

AFRICAReports Infrastructure Financing News & Reports

Investment in Infrastructure will Boost Nigeria’s Economy – Orji, NSIA Boss

The Chief Executive Officer, Nigeria Sovereign Investment Authority (NSIA), Mr. Uche Orji, has again stressed the need for Nigeria to turn its infrastructure into investible assets by investing more in it. According to him, the National Pension Funds will be a veritable source of revenue to fund national infrastructure investment, if properly managed. Orji, while …read more →

AFRICAReports Infrastructure Financing News & Reports

Nigeria to Strengthen Infrastructure Company to Boost Recovery

Nigerian state-owned Infrastructure Credit Guarantee Company plans to raise additional capital to fund critical projects in Africa’s biggest economy. The unit of Nigeria Sovereign Investment Authority is looking to raise equity and debt capital in 2021 and go into risk sharing with development finance institutions to boost its insurance guarantee capacity, Chief Executive Officer Chinua Azubike said …read more →