Heritage Bank, CBN Partnership Boost Agriculture, Promotes Investment, Job Creation

Central Bank of Nigeria Governor Mr Godwin Emefiele (left) and Managing Director/CEO of Heritage Bank, Ifie Sekibo at a function Nigeria’s Heritage Bank in collaboration with the Central Bank of Nigeria (CBN), under the Nigerian Incentive-Based Risk Sharing in Agricultural Lending (NIRSAL) has stepped up efforts to boost the agriculture base of the country. The idea is to make farming profitable to stakeholders and attractive to the jobless teaming youths in the country. The partnership, which aims at driving improved investment outcomes and job creation, will see the bank provide…

Read More

CBN At The Weekend Pegs Naira At 379/$

Nigeria’s Central Bank Governor, Godwin Emefiele From all indications, the economic hardship foisted on world economies by the dreaded Coronavirus (COVID-19) will now be felt by Nigerians as the Central Bank of Nigeria (CBN) on Saturday officially changed the exchange rate of the naira to the dollar on its website from N361 to N379. Recall that the bank had earlier hinted that it would unify the exchange rates in the country as forex scarcity persisted. It was however yet to announce if this would be the official unified exchange rate.…

Read More

N800million Debt: AMCON Takes Over Assets Of R.C. Omeaku & Sons Ltd., Safequip Nig. Ltd

Following the order of Honourable Justice O.O Oguntoyinbo of the Federal High Court Lagos Division, the Asset Management Corporation of Nigeria (AMCON) has taken over an asset belonging to Safequip Nigeria Limited over an indebtedness of over N470million. It would be recalled that Justice Agutoyinbo gave the order on March 23, 2020, at the peak of the dreaded Coronavirus (COVID-19) pandemic granting AMCON absolute and exclusive possession of the property situate at No. 20 Babatunde Jose Street, in Victoria Island area of Lagos State. In a related development however, Honourable…

Read More

COVID-19: Toyota Draws First Blood As Yaris Breaks Cover

After a series of teaser images, Toyota Yaris facelift has finally broken cover in Phillipines in the midst of gradual recovery from the ravaging coronavirus (COVID-19) pandemic. The virus has led to shutdown in every facet of human endeavour including automobile production. It is the second major update to the Yaris sedan since the current-generation’s introduction in the ASEAN region way back in 2013. Reliable and economical, the sub-compact Yaris is Toyota’s least expensive car. Fuel economy is excellent, with a tested 32 mpg overall in the sedan with the…

Read More

NDDC N24billion Project: Buhari Invited For Inauguration

Fresh from its contract crisis, which made headlines weeks back, the Niger Delta Development Commission (NDDC) has invited the President Muhammadu Buhari to inaugurate a 29-kilometre Ogbia-Nembe Road in Bayelsa State. The commission announced on Tuesday. In a statement titled ‘NDDC Invites President Buhari To Commission Signature Project,’ which was signed by the Director of Corporate Affairs, Mr Charles Odili, the NDDC said the project, which cuts across 14 communities cost them N24 billion to actualise. The road the statement stated was built in conjunction with the Shell Petroleum Development…

Read More

Its Fake News, We Are Not Leaving Nigeria – ShopRite

ShopRite Nigeria has debunked the story making the rounds that it intends to close shop in Nigeria. The Country Director for Chastex Consult, Ini Archibong, in a telephone conversation with Vanguard newspaper, said: “Shoprite is not leaving Nigeria. We have only just opened to Nigerian investors, which we have also been talking to just before now. We are not leaving, who leaves over a $30billion investment and close shop? It doesn’t sound right. “We only just given this opportunity to Nigeria investors to come in and also help drive our…

Read More

N5trillion: AMP Scheme Strategic To AMCON’s Recovery – Kuru

Managing Director/CEO Asset Management Corporation of Nigeria, Mr Ahmed Kuru The Asset Management Corporation of Nigeria (AMCON) Managing Director/Chief Executive Officer, Mr Ahmed Kuru attested to the efficacy of the processes of receivership and winding up procedures as amended in the 2019 AMCON Act, which President Muhammadu Buhari signed into law last year. He therefore called on Asset Management Partners (AMPs) of the Corporation to leverage those provisions among other potent aspects of the Act to rave up recoveries. Even as its sunset draws near with each passing year, AMCON…

Read More

Fraudsters: Access Bank Warns Customers On Common Tricks

Victor Etuokwu, Executive Director of Retail Banking, Access Bank Plc The management of Access Bank has again advised its customers to remain vigilant and beware of the common tricks used by fraudsters to rob them of their monies. Explaining that the activities of the fraudsters are on the rise across banks operating in the country, the Executive Director of Retail Banking, Victor Etuokwu, expressed concern about the growing number of fraud cases being reported. Etuokwu appealed to customers to take more responsibility in safeguarding their funds and offered reassurance of the…

Read More

COVID-19: Domestic Flight Operations Resume in 14 Airports – Sirika

Following the shutdown occasioned by the dreaded Coronavirus (COVID-19) pandemic, which grounded businesses across the globe including Nigeria, the Minister of Aviation, Senator Hadi Sirika, on Sunday announced that 14 airports across the country had resumed full domestic flight operations. Sirika, who made this announcement on his Twitter handle @hadisirika, said that ministerial approvals in and out of those airports were not required. Noting that this includes private and charter operations, he said the public would be informed of the other airports in due course. The fourteen airports approved for…

Read More

NEXIM Bank Exonerates MD, Refutes N50 billion Fraud Allegation Against Him

File photograph of NEXIM Bank Managing Director/CEO, Mr Abba Bello The Nigerian Export-Import Bank (NEXIM), has called on the public to disregard the fraud allegations made against its Managing Director and Chief Executive, Mr Abba Bello, one Citizens Committee for Corruption Free Nigeria (CCCN). Recently, a social media report, claimed that CCCN had filed a petition to the Economic and Financial Crimes Commission (EFCC), calling for Bello’s probe, claiming he diverted a whopping N50 billion Rediscounting and Refinancing Facility (RRF), provided by the Federal Government. The bank in a statement,…

Read More