Investments
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IIF, Kuramo launch fund to support MSME financing
Lagos, Oct. 29, 2024 (NAN): The Impact Investors Foundation (IIF), in collaboration with Kuramo Capital Management, on Tuesday introduced the Wholesale Impact Investment Fund (WIIF) to Pension Fund Administrators (PFAs) alongside other pension stakeholders and regulators. Mr. Afolabi Oladele, Chairman of IIF, said this at a roundtable for PFA investors on the Nigerian WIIF in Lagos. The News Agency of…
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Gov. Otu woos diplomatic community to invest in Cross River
Gov. Bassey Otu of Cross River has reiterated his administration’s willingness to partner with the diplomatic community in Nigeria toward achieving shared prosperity in the state. Otu gave the assurance at the maiden Cross River Governor’s Executive Roundtable organised by the Cross River government on Tuesday in Abuja. This, according to Otu, will further strengthen the established partnership between the state…
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Fair: Enugu Govt assures further improvement on Ease-of-Doing-Business
The Enugu State Government says it is doing all within its ability to ensure further improvement in the ease of doing business within the state and ensure it becomes the number one investor’s destination. Mrs. Adaora Chukwu, the state’s Commissioner for Trade, Investment, and Industry, said this on Monday at the Enugu State Special Day at the 35th Enugu International…
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Lagos-Calabar Highway: Umahi estimates N1.67 trn as RoI in 15 years
The Minister of Works, Sen. Dave Umahi, has projected a Return on Investment (ROI) of around N1.67 trillion in 15 years on the Lagos-Calabar Coastal Highway corridor. The News Agency of Nigeria (NAN) reports that the 700-km Lagos-Calabar coastal highway project is designed to connect Lagos to Cross River, passing through the coastal states of Ogun, Ondo, Delta, Bayelsa, Rivers,…
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We’ll empower Nigerians with skills in air-conditioning and refrigeration – Minister
The Federal Ministry of Environment has expressed its commitment to training and retraining Nigerians to acquire the necessary skills in air conditioning and refrigeration. Dr. Iziaq Adekunle Salako, Minister of State, Federal Ministry of Environment, said this at the handover ceremony of refrigeration and air-conditioning servicing equipment and tools to training centres on Friday in Lagos. The News Agency of Nigeria…
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StanbicIBTC declares N2.20 dividend to shareholders
StanbicIBTC Nigeria has declared to pay its shareholders a final dividend of N2.20 per ordinary share of 50k each, totaling N28.51 billion for the period ended Dec. 31, 2023. Mr. Chidi Okezie, Company Secretary, StanbicIBTC, announced this in a disclosure sent to the Nigerian Exchange Ltd. (NGX) on Thursday in Lagos. Okezie said that the proposed dividend, to be paid…
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MTN, Tier-1 banks stocks lift NGX gains by N157bn
Renewed interest in MTN Nigeria, alongside sustained interest in Tier-one banks’ stocks, further raised the equity market by 0.27 percent on Thursday. Specifically, investors gained N157 billion, or 0.27 percent, making the market capitalization, which opened at N58.963 trillion, close at N59.120 trillion. Consequently, the All-Share Index grew by 0.27 percent, or 278.42 points, to close at 104,562.06, as against…
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FG’s agriculture mechanisation programme will ensure food security – LCFE
The Lagos Commodities and Futures Exchange (LCFE) says the Federal Government’s Food Security and Agricultural Mechanization Programme in Niger will ensure food sufficiency. LCFE’s Managing Director and Chief Executive Officer, Mr. Akin Akeredolu-Ale, said this at a media briefing on Wednesday in Lagos. He said it was a heartwarming warning that four states—Benue, Kogi, Kwara, and Lagos—had already signed MoUs…
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Fund: Ojikutu urges FG to prioritise aeronautical services
Retired Group Capt. John Ojikutu, a former military commandant at the Murtala Muhammed International Airport, Lagos, on Tuesday, urged the Federal Government to prioritise aeronautical services over non-aeronautical services. Ojikutu told the News Agency of Nigeria (NAN) on Tuesday in Lagos, against the backdrop of the Renewed Hope Infrastructural Development Fund approved by President Bola Tinubu. He said that…
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AFPE 2024: NACC tasks businesses on global standards for competitiveness
The Nigerian-American Chamber of Commerce (NACC) has urged Nigerian businesses, especially micro, small, and medium enterprises (MSMEs), to meet global standards for competitiveness. The President of NACC, Dame Adebola Williams, said this at a news conference to unveil activities lined up for the 2024 edition of the Africa Foods & Products Exhibition (AFPE) on Monday in Lagos. The News Agency…
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Appointments: FEC approves 10% youth, women quota
The Federal Executive Council has approved the institutionalisation of a 10 percent youth quota in all government appointments and an equitable representation of young women. Dr. Jamila Ibrahim, Minister of Youths, disclosed this at the end of the 4th FEC meeting on Monday in Abuja. She said that the council also approved the restructuring of the Nigerian Youth Investment Fund…
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Pre-retirement Summit: 500 prospective retirees to benefit from skill acquisition training
No fewer than 500 prospective retirees will benefit from skill acquisition training and strategic knowledge on retirement planning at the forthcoming 2024 National Pre-retirement Summit in Abuja. Dr. Eugenia Ndukwe, Chief Executive Officer (CEO) of XEM Consultants Limited, a subsidiary of XEM Group and sponsor of the summit, said seasoned investment advisors would be on hand to guide participants in…
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NGO seeks gender equality in access to business funding, investment
An NGO, HEIR Women Hub, has called for gender equality in access to business funding and investment to address challenges faced by female entrepreneurs in Nigeria. Anuli Aniebo, the Executive Director of HEIR Women Hub, made the call in Abuja. Aniebo said a survey conducted by the NGO and was funded by the African Women Development Fund under the Economic…
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Tier-1 banks drive stock market performance with N147bn gain
The Nigerian stock market witnessed a significant boost in performance on Friday, propelled by gains in tier-one banks such as Guaranty Trust Holding Company (GTCO), Access Corporation, Zenith Bank, and FBN Holdings, among others. Investors gained a total of N147 billion, or 0.25 percent, leading the market capitalization to rise from N59.021 trillion to close at N59.168 trillion. The All-Share…
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How to build solid China-Nigeria community— Chinese Envoy
Yan Yuging, Consul General of China in Lagos, says to build a closer China-Nigeria community with a shared future, more think-tank scholars who understand China, Nigeria, Africa, and the world are needed. Yuging said this at the maiden edition of the Lagos Forum, organised by the Nigerian Institute of International Affairs (NIIA) in partnership with the Chinese Consulate, Africa-China Economy…
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CBN clears $1.5bn outstanding fx transactions, eliminates legacy backlog
The Central Bank of Nigeria (CBN) says all valid foreign exchange backlogs have now been settled. This is according to a statement by CBN’s Acting Director, Corporate Communications, Mrs. Hakama Sidi. Sidi said that the step was in fulfilment of a key pledge of the CBN Governor, Yemi Cardoso, to process an inherited backlog of seven billion dollars in claims.…
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Access Bank moves to acquire National Bank of Kenya
Access Holdings Plc says its subsidiary, Access Bank Plc, is in the process of acquiring the entire issued share capital of National Bank of Kenya Ltd. (NBK). Mr. Sunday Ekwochi, the bank’s company secretary, said this in a notification sent to the Nigerian Exchange Ltd. (NGX) on Wednesday in Lagos. Ekwochi stated that the bank had entered into a binding…
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