The Nigerian Ports Authority (NPA), says: ” Effective from Monday, April 22, 2024, a policy will be implemented regarding access to the port terminals for designated export trucks.” NPA, in the statement, said: ” “All designated export trucks will now have only 72 hours to access the designated terminal after leaving the Export Processing Terminal,…
Stavros Nicolaou is the Group Senior Executive of Aspen Pharmacare Holdings Limited, Gauteng, South Africa. In an interview with IFC, he explains the importance of being able to create viable markets for vaccine procurement, the need for partnerships for the right regulatory reform, and what0 Aspen is planning for expanding vaccine security on the continent….
The Central Bank of Nigeria has sacked about 117 staff cutting across 29 departments, staff of the apex bank said. Daily Trust reported that the layoff had been going on since the appointment of Dr Olayemi Cardoso as the Governor. The CBN workers revealed that no department can be spared in the continued sacking ravaging…
The Dangote Group has been lauded for adding “immense value to the Nigerian economy and still going stronger.” ThePresident of Enugu Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA), Sir Odeiga Jideonwo, gave the praise during the ongoing 35th Enugu International Trade Fair, themed: ‘Promoting Made in Nigeria Products for Global Competitiveness’.Jideonwo enthused that the…
From the 1960s up to 2010, Nigeria refined and exported millions of barrels per day of crude oil and petroleum products to the United States of America and other countries.
▪︎CBN Governor, Olayemi Cardoso The Central Bank of Nigeria, CBN, on Monday, banned the use of foreign denominated collaterals for naira loans. This was contained in a circular dated April 8, 2024 and directed to all banks by the CBN’s Acting Director of Banking Supervision Department. In the circular titled, “The Use of Foreign-Currency Denominated…
▪︎Assures Amicable Resolution ▪︎A photo collage of the CEO of Erisco Foods Limited, Mr Eric Umeofia, and Chioma Okoli. The Manufacturers Association of Nigeria (MAN) says that the actions taken by Erisco Foods Limited – the manufacturers of Nagiko tomato paste, on Chioma Okoli, were justified. The Association assures the public that it will resolve…
▪︎Image: $75m loan agreement signing ceremony between AfDB and Indorama Eleme Fertiliser The African Development Bank has signed a $75 million loan agreement with Nigeria’s Indorama Eleme Fertilizer and Chemicals Limited to increase its fertilizer production and develop a port terminal for exports. Ousmane Fall, the African Development Bank’s acting director for Industrial and Trade…
In Summary▪︎Global Banks N500bn▪︎National Banks N200bn ▪︎Regional Banks N50bn ▪︎All banks are required to meet the minimum capital requirement within 24 months commencing from April 1, 2024, and terminating on March 31, 2026 The Central Bank of Nigeria has announced the increase in the capital base of commercial banks with international authorisation to N500 billion…
” The $600 million Iron Ore Mining & Processing Facility owned by the African Natural Resources and Mines Limited (ANRML) in Kaduna state, is a significant stride in Nigeria’s mining sector.” This statement was made by Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite. “Alake Dele and I inspected the $600m ANRML investment in…
