By Ayomide Otitoju Energy analysts have asserted that the Nigerian National Petroleum Company Limited (NNPC) can obtain loans without the Federal Government’s approval. Amidst criticism over NNPC’s plan to secure a $20 billion oil-backed loan from undisclosed sources, Professor Emeritus and oil and gas expert, Wumi Iledare, clarified that NNPC operates as a private company….
By Ayomide Otitoju Brentex CPP Limited, one of the contractors for the Ajaokuta–Kaduna–Kano (AKK) Gas Pipeline Project, has refuted reports attributing the project’s delay to the Nigerian National Petroleum Company Limited (NNPC). The company affirmed that it had received substantial support from NNPC in delivering its segment of the AKK Gas Pipeline Project. Brentex clarified…
Lasaco Assurance Plc, in partnership with Mutual Benefits Assurance Plc, NEM Insurance Plc, and Sovereign Trust Insurance Plc, has provided protective gear for sweepers working with the Lagos Waste Management Authority (LAWMA). According to a statement from Lasaco on Tuesday, this initiative aims to ensure the safety and visibility of the sweepers. The protective gear…
By Ayomide Otitoju Ecobank Nigeria, a subsidiary of the Ecobank Group, is set to host a virtual SME Conference focusing on solar energy as an alternative power source for businesses in Nigeria. This conference, part of the Bank’s MySME Growth Series, is scheduled for Tuesday, July 23, at 10 am and will be facilitated by…
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…
