archiveAugust 2016

Nigeria is seeking two lead managers and a financial adviser to organize the issuance of $1 billion of Eurobonds this year, according to the nation’s Debt Management Office. According to Bloomberg report monitored by Business247 News Online, the sale is the first tranche of a $4.5 billion Nigeria Global Medium-Term...

The African Development Bank has approved 9 million dollars equity investment (approximately 12 per cent of the fund’s capitalisation) in the Fund for Agricultural Finance in Nigeria (FAFIN) to provide expansion capital to agricultural small and medium-sized enterprises (SMEs). FAFIN is a first-generation private equity fund that provides financial, capacity-building...

Dangote Industries Limited has said that it will begin the onstruction of concrete roads in various states across the country, especially in Lagos, Bauchi, Kogi, Kaduna and Ogun states. The company says, “We are very happy at the moment. We can categorically state that we are in more than five...

The Federation Account Allocation Committee (FAAC) may be in position to share about N700 billion for August and this will be the highest shared in the last 30 months. Analysts at Financial Derivatives Company (FDC) Limited gave the projection. The Chief Executive Officer of FDC, Mr. Bismarck Rewane has said...

Renowned economist and former Minister of Finance, Dr Kalu Idika Kalu has reacted to the spate of depreciation of the nation’s currency which traded at N400 per dollar on Friday. In the comment he pastes on his facebook page at the weekend, he lamented that Nigeria did not make use...

  Plans police/CSOs C'ttee on police image The Inspector-General of Police, Ibrahim Idris, has warned the public against denigrating the image of the police whose duty is to protect lives and properties. The IGP issued the warning in his office at Force Headquarters on Friday in Abuja, during a courtesy...

Fresh facts have emerged on the sacking of Prof. 'Dibu Ojerinde as the Registrar/Chief Executive of the Joint Admissions and Matriculations Board (JAMB) by the Federal Government. Business247It News Online learnt that Ojerinde has long been pencilled down for sack by government because of his 'fight' and disagreement with the...

United Bank for Africa (UBA) Plc recently organized sent forth ceremony for its former Group Managing Director, Mr. Phillips Oduoza and two retired Executive Directors; Mr. Femi Olayoku and Ms. Obi Ibekwe in Lagos. The event which held in the presence of stakeholders including; customers,  shareholders, Board of Directors, staff...

Mr. Ahmed Kuru, Managing Director (MD) of the Asset Management Corporation of Nigeria (AMCON) says the management of the corporation has finally concluded plans over the sales of Keystone Bank and will announced the new buyer this week. Kuru, while speaking on a live TV program over the weekend noted...

The Central Bank of Nigeria (CBN) has directed Nigerian banks to resume dollar sales to Bureaux De Change (BDCs) seven months after it stopped the practice. The apex bank stopped the sales last January because of what it called dollar scarcity and abuse of operating guidelines. But, President, Association of...