The “Microfinance Bank of the Year” for 2022 has been awarded to LAPO Microfinance Bank Limited (LAPO MfB), a prestigious microfinance organisation in Nigeria. LAPO MfB received the award at the 10th Businessday Banks and Other Financial Institutions (BAFI) Awards ceremony, which was recently held in Lagos. Oluremi Akande, Head of Communications and Branding, said Read More…
Business
State House’s 2023 budget sees a 50% slash
The State House’s permanent secretary, Tijjani Umar, says that the N21.1 billion budget request for 2023 is N19.01 billion less than the N40.1 billion budgeted for that year. This information was made public by Umar on Thursday in Abuja when he appeared with other members of the State House’s top management team to defend the Read More…
Mining company fined $310m for bribes to Nigeria, other African countries
In a London court on Thursday, a mining and trading company named Glencore was forced to pay a total of £276.4 million ($310.6 million) in fines for seven bribery violations involving its oil activities in Africa. Judge Peter Fraser of Southwark Crown Court imposed a £182.9 million fine and authorised a £93.5 million confiscation order Read More…
How mining company used private jet to move dollar bribe cash from Nigeria
Prosecutors said before a London court on Wednesday that employees and agents of a British unit of mining and trading company Glencore used private aircraft to transport money to pay bribes to oil authorities in West Africa. In June 2022, Glencore formally entered a guilty plea to seven charges of bribery related to oil activities Read More…
Air transport services union calls off strike
Tuesday marked the end of the strike by the Air Transport Services Senior Staff Association of Nigeria (ATSSSAN) against Bi-Courtney Aviation Services Limited (BASL) over the unjust dismissal of 34 union members. This was said in a statement made by the union’s deputy general secretary, Mr. Frances Akinjole, on Wednesday in Lagos. When ATSSSAN shut Read More…
NNPC: China’s Addax withdraws from four Nigerian oil blocks
Nigeria’s NNPC Ltd. announced on Tuesday that Sinopec’s Addax Petroleum Development (Nigeria) Ltd. has ceded its four main oil mining blocks in Nigeria to the state-owned oil corporation. By establishing Production Sharing Contracts (PSCs) with NNPC, Addax launched operations in Nigeria in 1998. “NNPC Ltd and Addax Petroleum Development (Nigeria) Ltd signed a Memorandum of Read More…
Dangote Group promises to intensify economic activities
A pan-African corporation, Dangote Industries Ltd. has committed to deepening commercial, industrial, and economic activities to support Nigeria’s economy. On Tuesday in Lagos, Mr. Anthony Chiejina, the Group Chief Branding and Communication Officer of Dangote Industries Ltd., said this. According to Chiejina, the company’s sponsorship of the 2022 Lagos International Trade Fair (LITF), which will Read More…
Amazon opens office in Nigeria
The first office of an IT company, Amazon Web Services, Inc. (AWS), has reportedly been established in Lagos, Nigeria. The company’s Regional Manager for Sub-Saharan Africa, Ms. Amrote Abdella, said in a statement on Tuesday that the office was opening in order to further its commitment to Africa. According to Abdella, the opening of the Read More…
Association prevents travellers’ access to MMA2 terminal over dismissals
To the dismay of air travellers, the Air Transport Services Senior Staff Association of Nigeria (ATSSSAN) barricaded the “Terminal 2” building at the Murtala Muhammed Airport in Lagos on Tuesday. As a result of the association’s action, flights were grounded and passengers were stranded. The union blocked the entrance to the terminal building to protest Read More…
Nigerian Leather Institute takes campaign to Portugal
With the aim of encouraging international partnerships, the Nigerian Institute of Leather Science and Technology (NILEST), Zaria, has expanded its lobbying campaign on the national leather policy to the Portuguese leather industry. On Monday in Abuja, Director-General of the Institute, Prof. Mohammad Yakubu, stated to the news media that the advocacy trip was made to Read More…