OPEXA tasks FG on release of accumulated Export Expansion Grant

The non-oil exporters in the country have been mounting pressure on the federal government In the last six months to release the accumulated Export Expansion Grant (EEG), from 2007 – 2016. In a letter dated 10 April and signed by the Executive Secretary, Organised Private Sector Exporters Association (OPEXA), Mr. Jaiyeola Olanrewaju, and directed to President Muhammadu Buhari, the association pointed out that the federal government had earlier approved promissory notes (PN) programme in 2017, at its Federal Executive Council meeting and forwarded to the National Assembly for their approval…

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British firm offers FG olive branch over contract dispute

.. As Nigeria’s judgment debt rises above $9bn Nigeria stands to lose up to $9 billion worth of its foreign assets followingan enforcement application to US and UK courts by Process and Industrial Development (P &ID), a British firm tied up in a legal dispute with the federal government.  The court case arose out of the failure of a contract awarded the company in 2010 to process wet gas to power Nigeria’s generating plants. In January 2017, a London tribunal, organized under the rules of the Nigeria Arbitration and Conciliation…

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Renmoney wins Fintech Award for innovation in lending

Renmoney has won the award for ‘Innovation in Lending’ at the 2019 edition of the Nigerian Fintech Awards. The award ceremony was the highpoint of the Lagos Fintech Week conference which was held recently at the Oriental Hotel, Lagos. The theme of the 2019 edition of the Lagos Fintech Week was ‘Fintech: Exploring the Huge Opportunities’. The event featured various panel sessions with big players in the Nigerian fintech space. Oluwatobi Boshoro, Renmoney’s chief executive officer who was on the Lendtech Leaders Panel at the conference said, “The award is…

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Interswitch signs multi-billion naira deal with British firm to enhance transportation ticketing

Photo Caption Akeem Lawal, Divisional CEO, Interswitch Group; Jeremy Hunt MP, United Kingdom Foreign Secretary and Jack Dangoor, CEO, Bekoz at the signing of a partnership agreement in Abuja to drive cashless multi-modal transportation in Nigeria Interswitch Group has signed a multi-billion Naira deal with Bekoz UK Ltd, a British transport ticketing company, to enhance transportation ticketing in Nigeria. The deal, which is worth £56 million (approx. N26billion), will leverage British technology to keep Nigeria’s commuters on the move through the launch of three products developed exclusively for the Nigerian…

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Nigeria needs clearer, more liberal, fiscal policies- ICAEW

To attract more foreign investments into the Nigerian economy, the policy environment needs to be strengthened by the implementation of more liberal and clearer policies.  This call was made by Cobus de Hart, Chief Economist for North and West Africa, Oxford Economics, who was a guest speaker at the ICAN / ICAEW Joint Economic Insight event held in Lagos on Friday, April 26, 2019. Speaking on the theme: ‘Nigeria: The African Giant Crawling Back on its Own and its Untapped Technological Potential’, Hart stated that the Nigerian business environment is…

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Court set to commit GTB MD, Chairman to prison over contempt charge

The managing director of Guaranty Trust Bank Segun Agbaje, Its Chairman Mrs Osaretin Demuren and the Company Secretary Erhi Obebeduo are set to physically appear before the Federal High Court Awka to show cause why they should not be committed for contempt and sent to prison for their willful, deliberate, wanton and unlawful violation of the subsisting Orders of the Supreme Court, Court of Appeal and the Federal High Court, Awka division and or for interfering with or obstructing due administration of Justice as epitomized by acts of hooliganism, thuggery,…

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SAHCO Plc lists shares on NSE

Skyway Aviation Handling Company Plc (SAHCO) has been listed on the Nigerian Stock Exchange (NSE) with 1,353,580,000 shares priced at N4.65 few months after going public. This event which took place at the Trading Floor of the NSE, was attended by SAHCO’s Board of Directors, Top Management of SAHCO, NSE, Bureau of Public Enterprise, Crème de la crème of the Stock Market. The event kicked off with a Post Listing Compliance Presentation by Ms. Tinuade Awe, Executive Director, Regulations to sensitise the SAHCO Board of Directors and Top Management about…

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AMCON takes over Micmerah International Agency Limited

A Federal High Court sitting in Awka, the Anambra State capital in Suits No. FHC/AWK/CS/101/2018 and No. FHC/AWK/CS/102/2018 has ordered the Asset Management Corporation of Nigeria (AMCON) to take over the business and assets of Micmerah International Agency Limited. AMCON had appointed Chief Tagbo Anieto as Receiver/Manager over the assets of Micmerah International Agency Limited, which owe it over N1billion. The company is located at Onitsha, the commercial hub of Anambra State. In compliance with the court order, AMCON earlier today through the Receiver/Manager took over the business and assets…

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Recovery of N5trillion bad debts should be collective concerns of all Nigerians – AMCON

… Says recalcitrant debtors, reflection of Nigeria society Managing director and chief executive officer, Asset Management Corporation of Nigeria (AMCON), Mr. Ahmed Lawan Kuru has again reiterated that the over N5trillion bad debts, which Nigerians expect AMCON to fully recover before its sunset should be seen as a collective problem that concerns all Nigerians irrespective of their socio-political, ethnic and cultural ideologies. Kuru who was represented by the executive director, Assets, Dr. Eberechukwu Uneze, made the declaration when he received a group of cadets from the Accounting Department of the…

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InterswitchSPAK 2.0 fixes qualifying examination for April 13

The qualifying examination for the InterswitchSPAK 2.0 competition is set to hold April 13, 2019. Registration for the schools and students commenced on the 7th March and closed on April 7, 2019. The InterswitchSPAK 2.0 competition is the second edition of the National Science Competition organised by the Interswitch Group. The competitionis part of the company’s Switch-a-FutureCSR initiative of the company.  The first edition was concluded in February 2019.  Group Chief Product and Marketing Officer Interswitch, Cherry Eromosele stated that the competition is only open to SS2 (Year 11) students,…

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