Excitement as Nigeria receives Queen’s baton relay ahead 2022 Commonwealth games

October 16, 2021 Editor 0

As member nations prepare for the 2022 Commonwealth Games, Nigeria on Friday in Abuja received the Queen’s Baton Relay, an iconic event which started with a special ceremony at Buckingham Palace in London as part of the city’s Commonwealth Day festivities. The President, Common Wealth Games Nigeria, Engr. Habul Gumel, who received the Queen’s Baton Relay at the Nnamdi Azikiwe Read More

Access Bank acquires 78% stake in Botswana bank

October 13, 2021 Segun Odunewu 0

With the completion of its acquisition of a majority stake of about 78.15 per cent in African Banking Corporation of Botswana Limited, Access Bank Plc now has countries, after similar acquisitions in financial institutions domiciled in Zambia, South Africa, Mozambique, among others. The recent move which is in line with the Bank’s commitment to expanding its presence in the African Read More

Only restructuring can restore Nigeria’s lost glory – Makinde

October 3, 2021 Bayo Agboola 0

Governor Seyi Makinde has said that only a restructured Nigeria will help the nation regain her past glory among the comity of nations. The governor stated this Saturday at the launch of SATVIEW Network digital broadcast channel, held at the SATVIEW Network headquarters, Ring Road, Ibadan. He pointed out that with the present situation in the country, it is clear Read More

Nigeria falls behind Egypt in Africa’s top three FDI

September 27, 2021 Segun Odunewu 0

Nigeria has fallen behind Egypt in Foreign Direct Investment, according to a report by the African Development Bank. The new report states that four African countries accounted for 80 per cent of investments coming into the continent. Nigeria was placed among the top three, with South Africa coming third, the new report titled, ‘Entrepreneurship and Free Trade Volume II – Read More

Ex-CBN governor reveals what will happen to Nigerian economy

September 25, 2021 AbdulRaheem Aodu, Kaduna 0

Former Central Bank of Nigeria (CBN) Governor, Khalifa Muhammad Sanusi has sounded the death knell for Nigerian economy, noting that crude oil on which the economy is anchored has no future and is no longer sought after globally.  Addressing the sixth Kaduna Investment Summit, after inaugurating the state development plan 2021 to 2023, to transform the state into a knowledge-based economy, the Read More

South African bank puts on hold plans to expand business in Nigeria

August 17, 2021 Blessing Anaro 0

South African lender Absa has put on ice plans to expand into new business lines in Nigeria, a country previously at the centre of its African ambitions, interim boss Jason Quinn said on Monday. Former Chief Executive Maria Ramos and others had previously touted growth in Nigeria beyond its existing securities business as key to the group’s aim of doubling Read More

Dangote’s fortune soars to $17.8bn, only Nigerian on Bloomberg’s Billionaires’ list

August 11, 2021 David Agba 0

Africa’s richest man, Aliko Dangote has significantly moved up in the World Billionaires’ list as his fortune increased to $17.8 billion as against last year’s $14.8 billion to emerge as the only Nigerian in the Bloomberg’s yearly top billionaires lists. Other Africans on the list are three South Africans; Johann Rupert and family, worth $10.1 billion; Nicky Oppenheimer with a Read More

MTN Group finally repatriates $280m in 2020 dividend from Nigeria

South Africa’s MTN Group has repatriated its last year’s dividend of around $280 million (R4.2 billion) from its local unit in Nigeria. The company reported the payout during the release of preliminary financial results for the six months to June 30, 2021. The funds from Nigeria are part of approximately $650 million (R9.3 billion) in cash the pan-African telecoms giant Read More

MTN to invest fresh N600bn as subscribers decline by 7.6m

August 3, 2021 Blueprint 0

MTN Nigeria Communications Plc (MTN Nigeria) has said it will invest fresh N600 billion to expand its network across the country in the next three years. This is even as the telecom operator’s mobile subscribers declined by 7.6 million to 68.9m impacted by the regulatory restrictions on new SIM sales and activations for almost five months. The South African telecom Read More

High misery index, ‘snail’ growth responsible for protests in Nigeria, S/Africa – Rewane

July 25, 2021 Blessing Anaro 0

Poor macroeconomic conditions such as high misery index, sluggish growth and fast spread of the delta variant is responsible for the protests that have hit tow African giants – Nigeria and South Africa, Bismarck Rewane, Chief Operating Officer (COO) of Financial Derivatives Company Limited (FDC) has said. South Africa is currently facing a third wave of the virus, while Nigeria Read More

A reflection on 2021 Mandela Day

July 18, 2021 Blueprint 0

Yesterday, Nigeria joined the rest of the world to mark this year’s Nelson Mandela International Day, also known as Mandela Day. The theme of this year’s celebration is “One Hand Can Feed Another”. The theme prioritises action against hunger and continuing fight against poverty. The Nelson Mandela Foundation calls on all Nelson Mandela Day Global Network to help alleviate hunger Read More

Breaking: Ex-South African President, Jacob Zuma, surrenders to Police

July 8, 2021 BBC 0

South Africa’s former President Jacob Zuma has handed himself in to police to begin serving a 15-month jail sentence for contempt of court. He was admitted to Estcourt Correctional Centre in his home province of KwaZulu-Natal on Wednesday. Police had warned that they were prepared to arrest him if he did not hand himself in by midnight. Zuma, 79, was Read More

Access Bank South Africa sees success amidst tough competition

June 29, 2021 Blessing Anaro 0

Nigeria’s Access Bank PLC faces tough competition from incumbents as it ramps up operations in South Africa, but it could find success in niche markets. On May 27, Access renamed its recently acquired unit Grobank Ltd. as Access Bank South Africa Ltd. At a press conference to mark the rebranding, the unit’s managing director, Bennie van Rooy, said the bank Read More

Corruption: Ex-President Jacob Zuma to spend 15-months in prison

June 29, 2021 Bode Olagoke 0

Jacob Zuma, former president of South Africa, was found guilty of contempt of court on Tuesday, and sentenced to 15 months in jail. South Africa’s Constitutional Court gave the sentence after Zuma failed to appear at the inquiry led by Deputy Chief Justice Raymond Zondo in February. The inquiry is examining allegations of high-level graft during Zuma’s period in power Read More

Dangote to export fertilizer to U.S, Brazil next month

June 22, 2021 Blessing Anaro 0

Nigerian billionaire Aliko Dangote’s new fertiliser plant near Lagos will export its first shipment in late June or early July, to Louisiana, while the majority of exports from the plant are expected to go to Brazil, Dangote said on Tuesday. The new plant at the Lekki Free Zone in Lagos State, designed to manufacture 3 million tonnes of urea per Read More

Again, UAE imposes travel ban on Nigerians

June 22, 2021 Suleiman Idris 0

Barely forty-eight hours after the United Arab Emirates (UAE) announced the lifting of the hitherto imposed travel ban on the trio of Nigeria, India and South Africa, the Middle East nation on Monday morning rescind the decision when it disclosed that contrary to its earlier pronouncements, all exit and entry flights to and from the cities of Lagos and Abuja Read More

Covid-19: Foundation to honour Buhari, Weah, other African leaders

June 18, 2021 Uko Etim 0

The Global Peace Foundation International through its International Organising Council for African Leadership has concluded plans to honour African presidents who played critical roles in curbing Covid-19 pandemic on the continent. The Ntisong Ibibio III, Imperial Majesty, Dr. Essien Ekidem, disclosed this Friday in Uyo, while briefing newsmen on the forthcoming African Leadership Icon Awards to be held in Nigeria, Read More

Breaking: Zambia ‘s first President, Kenneth Kaunda, is dead

June 17, 2021 Al Jazeera 0

Kaunda, who ruled Zambia from 1964 to 1991, died at a hospital in Lusaka where he was being treated for pneumonia. Kenneth Kaunda, Zambia’s founding president and liberation hero, has died at a military hospital in Lusaka where he was being treated for pneumonia, his son, Kambarage, said on Thursday. He was 97. Kaunda ruled Zambia from 1964, when the Read More

NASS moves to legalise Indian hemp

May 17, 2021 Barnabas Olabisi 0

Enlightenment on the need for Nigeria to join other countries in Africa to legalise Indian Hemp, popularly called “Marijuana” continues, even as the House of Representatives concluded arrangements to organise a two – day stakeholders roundtable on the benefits of the plant. The date for the stakeholders forum, which will attract participants among scientists, medical and pharmaceutical professionals, farmers, insurance Read More

Harith launches multi-billion naira infrastructure top up fund

May 6, 2021 Suleiman Idris 0

Africa infrastructure investors, Harith General Partners, has announced the launch of $200 million (about N76.1 billion naira) capital raise in a follow-up fund to its Pan African Infrastructure Development Fund (PAIDF) 2, which it said is open to existing and new investors. The PAIDF 2 Infrastructure Top Up Fund is a shorter term vehicle (5-to-6 years) that is being established Read More

MTN takes advantage of low yields, issues N100bn fixed rate bond

May 6, 2021 Blessing Anaro 0

MTN Nigeria has issued a N100 billion ($263 million) fixed rate bond in the first quarter of 2021, due in seven years, under a N200 billion bond programme to refinance existing debt and support network expansion. Yields in Nigeria are at historic lows after the central bank cut rates twice last year to lower borrowing costs for the government, creating Read More

UFC to fight in Africa in 2022 in honour of Kanaru Usman

April 26, 2021 Bode Olagoke 0

As Nigerian born African champion, Kanaru Usman knocked out Jorge Masvidal to retain world MMA title as the world welterweight champion in the early hours of Sunday 25th April 2021 (WAT), the Ultimate Fighting Championship (UFC) is set to stage the 2022 champions fight in Africa in honour of the current champion.  Following Kamaru Usman’s electrifying title defense, at the weekend, the Read More