Author: Ifetayo Adeniyi

Banks aim for N2tr fresh capital in Q2 Banks aim for N2tr fresh capital in Q2. Nigerian banks are seeking to raise nearly N2 trillion in a new round of capital raising as the banking sector’s recapitalisation heads into its final year. The fresh capital raising is expected to cluster in the second quarter with offers from new issuers and previous issuers seeking to close their recapitalisation gaps. Investment banking and regulatory sources yesterday said there were not less than seven banks that have advanced in their capital raising processes. The banks include Wema Bank Plc, Fidelity Bank Plc,…

Aiyedatiwa ready to hit the ground running as soon as he’s inaugurated Governor Lucky Aiyedatiwa Aiyedatiwa ready to hit the ground running as soon as he’s inaugurated. • He mentions his focus and target for a better Ondo Ondo State Governor, Lucky Aiyedatiwa, has said that he will hit the ground running immediately after he is sworn in today on a fresh mandate of a four-year term as governor. Aiyedatiwa said that after taking his oath of office, he would move straight to his office where some key actions would be taken on his first day. He, however, said that…

Free Trade Zones generate N650bn revenue, attract $30bn investments — Dr Jumoke Dr. Jumoke Oduwole Free Trade Zones generate N650bn revenue, attract $30bn investments — Dr Jumoke The Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, said that Free Trade Zones (FTZs) in Nigeria have attracted more than $30 billion in investments, contributed over N650 billion to government revenue and created significant employment opportunities since establishment, noting, however, that they are yet to attain full potential. Oduwole disclosed this yesterday at the third Special Economic Zones (SEZ) yearly meeting organised by the Nigerian Export Economic Zones Association (NEZA), Nigerian…

FG pays N15bn compensation for Lagos-Calabar highway FILE. Lagos-Calabar highway FG pays N15bn compensation for Lagos-Calabar highway The Federal Government has revealed that N15bn out of the N18bn meant for the first phase of compensation to owners of demolished properties along Section One of the Lagos-Calabar Highway has been disbursed. It disclosed this in Lagos on Sunday at a stakeholders’ meeting on the Lagos-Calabar Coastal Highway. The Director of Federal Highways, Bridges, and Design at the Federal Ministry of Works, Bede Obioha, said the quantum of compensation was more than N18bn. He said, “For Section 1, 47.7km, the quantum of…

Glo upgrades, ready to fulfill promise of improved service to customers Glo upgrades, ready to fulfill promise of improved service to customers Technology giant Globacom has reaffirmed its commitment to delivering world-class telecommunications infrastructure while ensuring its customers continue to enjoy competitive rates for voice and data services. This is in response to the recent increase in telecom tariffs nationwide. In a statement shared on Sunday, Globacom announced that its nationwide network enhancement project is being intensified to ensure an improved customer experience. “To ensure continued service excellence, Glo is intensifying its network upgrade nationwide,” the company stated. The telecom…

CBN expresses continuous commitment to stronger Nigeria-Saudi economic relationship CBN  CBN expresses continuous commitment to stronger Nigeria-Saudi economic relationship. The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has restated the bank’s commitment to boosting economic cooperation between Nigeria and the Kingdom of Saudi Arabia. According to a press statement from the CBN on Sunday, Cardoso made this known during a courtesy visit to the CBN headquarters by the Saudi Arabian Ambassador to Nigeria, Faisal bin Ibrahim Alghamdi, and his delegation. The statement noted that Cardoso emphasised the apex bank’s dedication to fostering partnerships across key sectors that drive…

There’s enough petrol for local demands – Dangote Aliko Dangote There’s enough petrol for local demands – Dangote. Aliko Dangote has said that the Dangote Petroleum Refinery has enough Premium Motor Spirit, commonly known as petrol, in storage to meet Nigeria’s demand. Speaking over the weekend after a tour of the refinery by Zambia’s Minister of Energy, Makozo Chikote, Dangote revealed that the facility has over half a billion litres of refined petroleum products and more than N600 billion worth of fuel in its tanks. Dangote said, “As we speak right now we have more than half a billion litres.…

Okpebholo works on expansion of road network in Edo central, gives assurance of quality infrastructure Governor Okpebholo Okpebholo works on expansion of road network in Edo central, gives assurance of quality infrastructure Edo State Governor, Senator Monday Okpebholo, has reaffirmed his commitment to improving infrastructure by connecting more communities in Edo Central Senatorial District with quality roads. This initiative aims to enhance residents’ daily lives and fulfill one of his key campaign promises. During an inspection of the ongoing 36-kilometre Utako-Unewa-Eworah-Uromi Road, Okpebholo assured residents of high-quality construction work. His Chief Press Secretary, Fred Itua, disclosed this in a statement…

Ecobank Partners with Code 14 Labs To Boost Digital Training For Students Left: Head, Consumer Products & Segments, Ecobank Nigeria, Victor Yalokwu, and Executive Director, Research and Technology, Code 14 Labs, Otaru Daudu, with the signed Memorandum of Understanding, MoU at Ecobank Bank Pan Africa Centre (EPAC), Lagos. Left: Head, Consumer Products & Segments, Ecobank Nigeria, Victor Yalokwu, and Executive Director, Research and Technology, Code 14 Labs Ltd, Otaru Daudu signing Memorandum of Understanding, MoU on digital training for students collaboration at Ecobank Bank Pan Africa Centre (EPAC), Lagos This Nigeria, a subsidiary of Ecobank Group, has teamed up with…

Gov Aliyu recognized with award for sustaining fight against banditry in Sokoto Governor of Sokoto state, Ahmed Aliyu Gov Aliyu recognized with award for sustaining fight against banditry in Sokoto. The executive governor of Sokoto state, Ahmed Aliyu has been honoured with an award of excellence in recognition of his administration’s dedication to maintaining security in the state. The governor was awarded alongside his Commissioner for Local Government, Alhaji Dadi Adare, who was recognised for his tireless effort towards community development. Alhaji Basharu Altine Guyawa, the convener of the Movement for Social Justice in Nigeria, said the award was in…