Access Bank and Standard Chartered Bank Finalize Agreement for African Subsidiaries’ Acquisition
Access Bank Plc and Standard Chartered Bank have reached an agreement for Access Bank to acquire Standard Chartered’s shareholding in…
Day: July 17, 2023
Geregu Power Makes N8.78bn Advance Payment to Italian Firm for Turbine Overhaul
Geregu Power Plc, a power generating company in Nigeria, revealed that it has made advance payments totaling N8.783 billion to…
Manufacturers and Students Struggle to Access Forex as Naira Exchange Rate Hits Record Low
Despite recent reforms under the Bola Tinubu administration, Nigerian manufacturers and businesses are still facing challenges in accessing foreign exchange…
AFIG Funds and Norfund Successfully Complete Acquisition of Ivorian Packaging Company NME
A consortium of investors led by AFIG Funds and Norfund has successfully completed the acquisition of Nouvelle Mici Embaci (NME),…
Endeavour Mining Divests 90% Stake in Burkina Faso Mines to Lilium Mining for $300 Million
In a strategic move, UK-based Endeavour Mining has sold 90% stakes in its Boungou and Wahgnion mines in Burkina Faso…
Amea Power Secures $75 Million Funding from SoftBank Group for Expansion
Dubai-based renewable energy company, Amea Power, has successfully secured a $75 million equity funding round from SoftBank Group, a renowned…
Millions of Poor Nigerians Excluded from Cash Transfer Program: World Bank Report
The World Bank’s Nigeria Development Update for June 2023 reveals that over 42.69 million poor Nigerians have been excluded from…
Unveiling the Root Causes of Building Collapses in Lagos: World Bank Report
The World Bank’s report on housing regulatory framework standards in sub-Saharan Africa reveals that the frequent building collapses in Lagos…
Central Bank of Nigeria Records Significant Recovery in Intervention Program Repayments
The Central Bank of Nigeria (CBN) has achieved a remarkable milestone in its intervention programs, announcing the recovery of N471.82bn…
Financial Services Stocks Drag Nigerian Bourse, Market Capitalization Declines by N257bn
The Nigerian bourse experienced a downturn last week as losses in FBN Holding Plc, Ecobank Transnational Incorporated, and other financial…
Concerns Mount Over Power Tariff Review Amid Rising Subsidy Costs
The Nigerian Electricity Regulatory Commission (NERC) has reported that the Federal Government’s spending on electricity subsidy has soared to N2.8tn,…
Manufacturers Association of Nigeria Raises Concerns Over Exclusion from Smart Meter Supply
The Manufacturers Association of Nigeria (MAN) has voiced its apprehensions over the impending displacement of local meter manufacturers and assemblers…