Wema Bank and the Small and Medium Enterprise Development Agency of Nigeria (SMEDAN) have joined forces to host the Naija Brand Chick (NBC) trade fair, aimed at empowering micro, small, and medium enterprises (MSMEs), particularly women-led businesses. Scheduled for August at The Intercontinental, London, the NBC trade fair seeks to provide MSMEs with opportunities for…
The Federation Accounts Allocation Committee (FAAC), chaired by Minister of Finance and Coordinating Minister of the Economy, Wale Edun, convened in Abuja to distribute N1.354 trillion in revenue for July 2024. A communiqué issued by FAAC and signed by Bawa Mokwa, spokesperson for the Accountant General of the Federation, detailed the breakdown of the distributable…
Access Bank Plc has successfully signed a syndicate Tier II Facility agreement valued at N442.50 billion ($295 million) through the Dutch Entrepreneurial Development Bank, FMO. This landmark agreement, announced on Tuesday, marks the third collaboration between Access Bank and FMO, showcasing the profound trust and synergy between the two institutions. The agreement stands as the…
By Ayomide Otitoju First City Monument Bank (FCMB) has partnered with the Rotary Club of Lagos, District 9112, to empower over 200 widows through micro-credit and skills acquisition programs. This initiative underscores FCMB’s commitment to promoting women’s empowerment and financial inclusion in Nigeria. The announcement of this collaboration was made during the installation ceremony of…
By Ayomide Otitoju Dr. Adaora Umeoji, Group Managing Director/Chief Executive Officer of Zenith Bank, announced that the bank is on course to exceed N1 trillion in profit by the end of the 2024 financial year. She made this statement during the bank’s Capital Markets Day in Lagos, highlighting their strategic goals and achievements. Umeoji, who…
By Ayomide Otitoju Aliko Dangote, President of Dangote Group, announced plans to achieve a $30 billion revenue target by the end of 2025, which he believes will bolster the Nigerian naira. He made these remarks during a media tour of Dangote Petroleum Refinery & Petrochemicals and Dangote Fertiliser Limited on Sunday, emphasizing a strategy for…
By Ayomide Otitoju Jaiz Bank is set to increase its capital base to N70 billion by the end of 2024. The bank reaffirmed its commitment to becoming the center of Islamic banking in Africa. Chairman of the Board of Directors, Mustapha Bintube, disclosed this during a send-off ceremony in Abuja for 11 retired board members,…
By Ayomide Otitoju Mele Kyari, Group Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), announced that Nigeria will become a net exporter of refined petroleum products by December. He made this statement on Monday during a meeting at the National Assembly with key economic stakeholders, including Finance Minister Wale Edun, Budget and National…
As food inflation surpasses 40%, the Nigerian government has rolled out several programs to mitigate the impact on citizens. Minister of State for Agriculture Aliyu Abdullahi, speaking on Channels Television’s Sunrise Daily, expressed optimism that the situation would improve. “Agriculture has a time frame. Now, a lot of production is ongoing. We are in the…
