In furtherance of the Buhari administration’s drive to support Micro, Small and Medium Enterprises (MSMEs), the Bank of Industry has approved a $20M technology fund for young innovators, while the Central Bank of Nigeria (CBN) is offering a N90 Billion soft loan facility for small scale agriculture enterprises. These were some of the outcomes of […]
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The Asset Management Corporation of Nigeria, AMCON, has been ordered to take over the business and assets of Bedko Nigeria Limited and Alhaji Buba Galadima. This was contained in a judgement by a Federal High Court sitting in Abuja, in Suit No. FHC/ABJ/CS/1136/2019. A statement from the corporation on Tuesday said Bedko Nigeria Limited and […]
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According to data released by National Bureau of Statistics, Nigeria’s gross domestic product grew by 2.27% in 2019. Recall that the International Monetary Fund (IMF) had projected that the nation’s economy would grow by 2.1% in 2019. Nigerian Gross Domestic Product report released by the bureau on Monday, indicated that the economy grew by 2.55% […]
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Dangote Group has invested over N63bn in the South East with the purchase of over 3,500 units of locally assembled Shacman trucks at the production plant of Anambra Motor Manufacturing Company (ANAMMCO), Enugu. The order was delivered over a period of five years after Dangote Group signed an agreement with Transit Support Services (TSS), a […]
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Pan African financial institution, United Bank for Africa (UBA) Plc has launched ‘Click Credit’, a time loan designed to address the urgent needs of customers whose salary accounts are domiciled with the bank. As a bank backed by a strong retail franchise with over 1,000 business offices serving 19 million customers, UBA has introduced this […]
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The Central Bank of Nigeria (CBN) on Thursday said it has so far recovered and returned over N60 billion from erring banks as excessive charges imposed on customers. This is just as the Apex Bank has announced that it had commenced the processes for creation of 10 million jobs in the next five years through […]
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Ecobank Group, the pan-African banking group, is inviting African fintech entrepreneurs to enter the 3rd edition of the Ecobank Fintech Challenge. The Fintech Challenge gives African start-ups the opportunity to promote their fintech solutions, and potentially partner with Ecobank to roll-out their solutions across Ecobank’s 33 markets in Africa as well as France. Ecobank welcomes […]
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The Minister of State for Petroleum Resources, Chief Timipre Slyva, said that about one billion Barrels of Crude oil have been discovered in Northeastern part of Nigeria. Sylva made the disclosure at a news Conference to end the 2020 Nigeria International Petroleum Summit (NIPS), in Abuja on Wednesday. “The figure we are getting, the jury […]
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Tony O. Elumelu, CON, has congratulated the African Development Bank (AfDB), and AfDB President Akinwumi Adesina, on their commitment to African entrepreneurship, with the disbursement of $2.5million seed capital to the AfDB-sponsored beneficiaries of the 2019 TEF Entrepreneurship Programme. $2.5m was released today, with the remainder expected to be disbursed to the entrepreneurs in Q12020. The […]
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U.S Agency for International Development (USAID) through the Prosper Africa initiative is partnering with the United Bank for Africa (UBA) to increase two-way trade and investment between the United States and the nations of Africa. This partnership ensures businesses are equipped with the technical and financial tools they need to enter into new trading and […]
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