Nigeria’s Access Bank has obtained shareholders’ approval to raise up to 100 billion naira ($504 million) from the debt market either through a public offering or a private placement, a statement from the bank has said. Access Bank spokesperson Busola Osilaja said the bank had sought the approval as part of requirements to be able to raise funds at an opportune time. She said shareholders’ voted in favour of the plans at the annual general meeting. Last year the bank raised 42 billion naira from existing shareholders to fund expansion and lending, less than the 53 billion naira it had planned…
Author: Pride Team
The federal government has announced plans to release a new blueprint to re-position the country’s insurance industry. Minister of Finance Kemi Adeosun who announced this at 38th Annual General Meeting and Education of West Africa Insurance Companies Association (WAICA) in Lagos, said the country’s insurance industry was part of the current government’s plan to diversify the economy. She said the new blueprint would change the face of the industry, calling on insurers to support the government to achieve growth for the industry. Adeosun said that government would also support the industry to fill its capacity gap. She also reiterated government’s…
As part of its efforts to facilitate gas optimisation in Nigeria, the Nigerian Gas Association’s Executive Council has established five study groups to spearhead research and explore viable methods to further develop the nation’s vast and untapped gas resources for domestic utilisation. Commenting at the inauguration of the study groups, NGA President, Bolaji Osunsanya, said: “I am excited by the caliber and experience of the volunteers involved, and the vibrant enthusiasm they’ve shown for the task at hand. The rejuvenation of the study groups encourages the self-development of our members, and establishes the groups as focal engagement points and drivers…
The European Union (EU) has suggested that diversification of Nigeria’s south-south economy within the oil and gas sector has become imperative as it believes in its viability despite the drop in crude oil prices. The EU’s suggestion was conveyed by the head of the European Union delegation to Nigeria and the Economic Community of West African States (ECOWAS), Ambassador Michel Arrion. He spoke at a meeting organised by the Rivers Entrepreneurs and investments forum in Port Harcourt, the capital of the state in south-south Nigeria. Mr. Arrion said that the EU was aware of the problem caused by the dwindling…
Shell Petroleum Development Company of Nigeria Limited (SPDC), divested interest in three onshore leases and a major pipeline in 2015. The company, which made this disclosure in its 2015 Sustainability Report released recently, said that the company’s performance metrics for Nigeria this year reflect, in part, these divestments. Besides, SPDC Joint Venture has put its daily crude oil theft in Nigeria at 25,000 per day. At $40 a barrel, the company may have lost $365 million to crude oil theft in 2015. Also, Shell Companies in Nigeria (SCiN) recorded seven fatalities in 2015, in four separate incidents. According to the…
The innovative programme of the wife of the Governor of Anambra State, Chief (Mrs.) Ebelechukwu Obiano who is providing shelter for indigent widows in select communities in Anambra State has continued to attract commendations from stakeholders across the state with the latest coming from the Chairman of Trade Union Congress (TUC) Anambra Council, Comrade Ifeanyi Okechukwu. Comrade Okechukwu praised the initiative of the governor’s wife Sunday, during the 2016 May Day celebration at Ekwueme Square, Awka, Anambra State. The Chairman of TUC Anambra Council, whilst applauding the commitment and passion of the Governor of Anambra State, Chief Willie Obiano for…
As a mark of honour and respect for the Oba of Benin who recently transited to immortality, the Edo State Government has declared a 5-day public holiday with effect from Tuesday, May 3, 2016 to mourn the revered Royal Father. In a Government Special Announcement signed by the Hon Commissioner for Information and Orientation, Prince Kassim Afegbua, only those on essential services in hospitals, health centres, the Fire Service and others are exempted from observing the public holiday. The Nigerian National Flag is expected to be flown at half-mast across the state during the 5-day mourning period while work is…
The 2016 Met Gala, themed “Manus × Machina” was hours ago, but still quite fresh in everyone’s memory because of the amazing show of stylishness on the red carpet, and because social media won’t let us breathe – it is down everyone’s throat… literally. But we fashion aficionados don’t mind the buzz, do we? Joining the rest of the world, we decided to put together our best and worst looks of the night from some of our favourite Hollywood celebrities. Check on it. Best dressed. Worst dressed. xosotin chelseathông tin chuyển nhượngcâu lạc bộ bóng đá arsenalbóng đá atalantabundesligacầu thủ…
The Chief of Defence Staff (CDS), General Gabriel Olonisakin, Chief of Army Staff (COAS), Lt General Tukur Buratai and Chief of Air Staff (CAS), Air Marshal Sadiq Abubakar were in Maiduguri to fine tune the on-going Operation tagged “Operation Crack Down” in Sambiza Forest, the stronghold of Boko Haram terrorists. Briefing journalists at the Theater Command headquarters shortly after the meeting, the CDS, General Olonisakin said they are in Maiduguri to review the ongoing operation on Sambiza, which commenced 5 days ago. He said the military through the operation Crack down are determine to wipe out Boko Haram terrorists in…
Authorities of the eleven local governments in Ibadan land and the state government have been urged to close ranks and evolve policies capable of solving the huge challenges occasioned by the rapid urbanization of Ibadan, the Oyo State capital. A lecturer at the College of Social and Management Sciences, Afe Babalola University, Ado-Ekiti, Prof Femi Olokesusi, gave the advice while delivering a lecture titled, “Crisis of Urbanisaton: A case study of Ibadan,” at Lead City University, Ibadan, on Sunday. The Silver Knights Club, an Ibadan-based socio-philanthropic organization, organized the May Day annual lecture with membership cutting across the professional cadres.…