Category: Business
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UBA Hosts ‘Built to Last’ Business Series for African Entrepreneurs
United Bank for Africa (UBA) Plc is set to host another edition of its Business Series, titled “Built to Last: Building Generational Business,” aimed at fostering growth and sustainability for Micro, Small, and Medium-scale Enterprises (MSMEs) across Africa. The event will take place tomorrow at 12 PM at UBA’s head office in Lagos, with an…
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Alleged Dirty Fuel Importation: Oil Company Files Libel Suits, Seeks N20bn Damages
From Lateef Taiwo An indigenous oil company, Matrix Energy Limited, has filed suits before the Federal Capital Territory High Court seeking N20 billion as damages over reports linking it to the alleged importation of low grade fuel from Malta to Nigeria. The company and its Chief Executive Officer, CEO, Alhaji Abdulkadir Adisa Aliu, who are…
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Key Details About Nigeria’s Domestic Dollar Bond
The Federal Government of Nigeria has successfully issued a $500 million domestic dollar bond with a 9.75% interest rate. Here’s what you need to know: The bond presents an opportunity for investors to benefit from high returns while supporting national development projects.
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Tinubu Committee and Dangote Refinery Discuss Petrol Pricing Ahead of September Rollout
The Federal Government’s committee, tasked with implementing crude oil sales to local refineries in naira, is set to deliberate on the pricing of Premium Motor Spirit (PMS), also known as petrol, which will be produced by the Dangote Petroleum Refinery starting next month. The committee, led by the Minister of Finance and Coordinating Minister of…
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Diaspora Group Commends FIRS Boss Zacch Adedeji’s Crypto Tax Reforms
The Nigeria Professionals in Diaspora group has praised Dr. Zacch Adedeji, Executive Chairman of the Federal Inland Revenue Service (FIRS), for his innovative crypto tax reforms, describing them as a game changer for Nigeria’s economy. In a statement delivered during a press conference in Abuja and signed by Dr. Obiora Okereke, President, and Chief Mrs.…
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Headline: Gov Otu Allocates N1bn for Cross River MSMEs in Collaboration with SMEDAN
The Cross River State government, under the leadership of Governor Senator Bassey Otu, has committed N1 billion in a matching fund partnership with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to support the development of Micro, Small, and Medium Enterprises (MSMEs) in the state. Governor Otu made this commitment during a meeting…
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Firms Join Forces to Honor Young Entrepreneurs with Lagos Award
Acme Multimedia Integration, LAPO Microfinance Bank Plc, and Grand Oak have partnered to present the fifth edition of the Lagos Young Entrepreneurs Award, aimed at recognizing and rewarding young business owners who are driving economic growth in Lagos State. Saheed Okeowo, CEO and Creative Director of the LAYE2024 Award, announced the event during a recent…
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FG Requires BVN and NIN for Participation in $500M Domestic Bond Offering
The Federal Government of Nigeria has mandated that investors must provide specific identification details to participate in its latest financial instrument offering. According to a Frequently Asked Questions (FAQ) document from the Debt Management Office (DMO), all Nigerian citizens, whether residing domestically or abroad, must possess a Bank Verification Number (BVN) and a National Identification…
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BUA Foods to Expand Milling Capacity by 3,200 Tonnes with New Factories
BUA Foods Plc has announced a significant expansion of its milling operations through a new agreement with Turkish flour milling equipment manufacturer IMAS. The agreement will see the construction of four wheat and flour milling factories, collectively increasing the company’s milling capacity by 3,200 tonnes per day. Adewunmi Desalu, Director of Marketing and Corporate Communications…
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Zone Payment Network and NIBSS Partner to Enhance POS Transactions
Zone Payment Network Limited (formerly Appzone) has announced a strategic partnership with the Nigeria Inter-Bank Settlement System (NIBSS) to advance Point of Sale (POS) transactions across Nigeria. This collaboration aims to transform the payment landscape by leveraging blockchain technology to streamline the payment value chain. The partnership aligns with the Central Bank of Nigeria’s Payment…