The Federal Government has given details of its plans to take a $29.960 billion foreign loans designed to address infrastructure deficit in the country. Festus Akanbi, Special Assistant on Media to the Minister of Finance, Kemi Adeosun, said in a statement issued in Abuja that the borrowing is a three-year-plan covering proposed projects for 2016…
Private Sector Is Key to Poverty Eradication-Elumelu
By TELL Do you know why past governments did not succeed in efforts to eradicate poverty in Nigeria? There is a man who has an answer to that question. He is no other person than Tony Elumelu, chairman, Heirs Holdings and Tony Elumelu Foundation. He said the reason all the entrepreneurship schemes fell short of…
‘Men Get Intimidated When They See Me’- Adeola
‘Men Get Intimidated When They See Me’ -Adeola Laketu Jaiyeola Adeola Laketu Jaiyeola, is a young Nigerian entrepreneur and CEO of Biike’s Castle, a foot wear making outfit. Supplying clients with handmade male and female foot wears has brought fame and fortune to her. She is delighted that she is patronised by “the rich,…
NCC FINE: MTN Backs Down On Trial
The management of MTN, Nigeria’s largest mobile telephone company may have reviewed its decision to contest the penalty imposed on it by the National Communication Commission, NCC, the regulator in the industry. Wole Olanipekun, senior advocate of Nigeria, SAN leading 10 other SANs for the telephone company told the Federal High Court, Ikoyi, Lagos this…
War Of The Bitters
There seems to be no respite yet for Nigerian manufacturers, especially brewers of herbal drinks whose trade has come under attack by imitators. That is why, when recently, Paul Orhii, director-general, National Agency for Food and Drugs Administration and Control, NAFDAC, alerted the nation that the agency would soon clamp down on unregistered herbal drinks,…
Unity Bank Repositions for Growth
The management of Unity Bank says it is set to reposition the financial institution to underpin Nigeria’s growth even as Henry Semenitari, its managing director, MD, resigned last week. This is after a successful recapitalisation and re-branding exercise that evolved the bank into a profitable and customer-focused financial services company. In compliance with the requirements…
Diamond Bank Declares Profit in Half-year Report
Diamond Bank plc, has posted an impressive performance scorecard. Assuring its stakeholders of its ability to sustain growth in all parameters, the financial institution increased its gross revenue from N96.8 billion in the half year of 2014 to N103.0 billion as at end of June 2015. Uzoma Dozie, group-managing director of the bank, attributes the…
Ovaltine Partners DHL Express to Curb Malnutrition among IDPs
Twinings Ovaltine Nigeria limited, makers of Ovaltine beverages and DHL Express, a global logistics company, have joined hands in a strategic partnership to curb malnutrition among internal displaced people, IDPs, in Yola, Adamawa State. While Twinings Ovaltine donates food drink worth millions of naira for a year, the logistics company transport the beverage to the…
NSE Releases Inaugural Sustainability Report
The , NSE, has released its first Sustainability Report tagged ‘Connecting Nigeria to the world through a Sustainable Capital Market.’ The report demonstrates the exchange’s commitment to increased disclosure, expanded stakeholder engagement and thought leadership on sustainability as a key aspect of its business strategy. Oscar Onyema, chief executive officer, NSE, explained that the report,…
Sterling Bank Stable, Gets Moody’s B2 Rating
Moody’s Investors Service, a leading global rating agency, has assigned first-time local and foreign currency issuer and deposit ratings of B2 with stable outlooks to Sterling Bank Plc, including a Counterparty Risk Assessment, CRA, of B1 (cr)/Not Prime (cr). A statement by the Agency stated that the ratings are underpinned by a b3 baseline credit…
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