Category: Business

Elumelu Is A Betrayer Otedola Declares As Billionaires’ War Degenerates

ADEOLA YUSUF

How the UBA boss backstabbed me in Power, Bank deals, Otedola opens up in new twist to Transcorp tussle   Billionaire businessman, Femi Otedola, has disclosed how the Chairman of the United Bank for Africa (UBA), Tony Elumelu, allegedly backstabbed him in power and bank deals. Platforms Africa reports that Otedola, in a statement issued on Tuesday, May 9, said he gave Elumelu $20 million (N2 billion) for the acquisition of UBA in 2005 but the latter took over his shares in the bank when he went bankrupt in 2008.…

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The Aliko Dangote Interview

ADEOLA YUSUF

From investment to opportunity, $10 billion forex savings to $10 billion exports earning, here, from the horse’s mouth, is all you may need to know about the World biggest single unit refinery, Dangote Refinery to be commissioned May 22 by President Muhammadu Buhari.   Africa’s richest man and owner of the Dangote Refinery, Mr. Aliko Dangote, has said with the planned commencement of the refinery located in Lagos, Nigeria could save up to $10 billion in foreign exchange (FX) and generate another $10 billion in exports when the facility begins…

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Polaris Bank To Graduate 5,000 Corps Members From DigiCorper Training Programme

ADEOLA YUSUF

Fresh graduates serving under the National Youth Service Scheme ( NYSC) across 12 States have commended Polaris Bank for enhancing their digital literacy skills and preparing them for the emerging opportunities in Nigeria’s digital economy Polaris Bank, in partnership with the NYSC and NerdzFactory, had in November 2022 commenced a high-impact capacity-building workshop on digital skills targeted at 5,000 National Youth Service Corps members across 12 states in Nigeria. The 6-month training program aims to equip fresh graduates with the necessary skills to thrive. READ ALSO: Mother Poisons Daughter, Asks…

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Transparency, New Master Plan Vital For Niger Delta Development -Wabote

ADEOLA YUSUF

The enthronement of transparency, prudent management of financial resources, and deployment of a new master plan are some of the strategies that would attract the private sector to support the Niger Delta Development Commission (NDDC) and return the agency to the path of sustainable development of the Niger Delta region, the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote has canvassed. He made the submission in the keynote address he delivered at the NDDC Public-Private Partnership Summit 2023 held in Lagos on Tuesday,…

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Inflation: Nigerian Immigrants, Others Struggle To Pay Bills In UK – Report

ADEOLA YUSUF

Report details how worsening inflation in the UK put African immigrants in tough economic state   A new report has revealed that African immigrants in the United Kingdom are struggling to pay bills as they are most affected by the persistent rising cost of living crisis. The report published on Wednesday by an African communications service community disclosed that many African residents in the UK suffer to afford basic needs such as food, housing and energy. This has forced the African Diasporan community to seek financial support as the report…

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Sudan Crisis: The Hajj Airlifts Dilemma, And The 3 ‘Hard’ Choices For Nigeria

ADEOLA YUSUF

The scheduled signing of 2023 hajj airlift agreements by NAHCON and the hajj carriers could not be completed due to the ongoing crisis in Sudan. The five selected Nigerian airlines, namely Max Air Air Peace, Azman Air, Aero Contractors, Arik Air, and Value Jet, promised to further make consultation before they will append their signatures to the airlift contractual agreement. President Muhammadu Buhari had approved Saudi-based Flynas and other Nigerian airlines, including Max Air Air Peace, Azman Air, Aero Contractors, Arik Air and Value Jet to fly Nigerian pilgrims. While…

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Agip Renews FPSO Contract For Development Of Abo Field

ADEOLA YUSUF

Nigerian Agip Exploration, a subsidiary of Italy’s oil and gas giant Eni, has executed another short-term contract extension to BW Offshore for one of its floating, production, storage and offloading (FPSO) vessels, which is working on an offshore field in Nigeria. BW Offshore revealed that it had signed a new short-term extension for the Abo FPSO, allowing the vessel to work on the Abo field until 31 May 2023. The FPSO has been carrying out operations on the Abo field with Eni’s Agip since the start of production in 2003.…

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Shell Reports $9.6Bn Adjusted Earnings In Q1, 2023

ADEOLA YUSUF

Oil major, Shell  has reported an adjusted earnings of $9.6bn in the first quarter of 2023, with more cash on the way for shareholders. Total distributions from the energy giant to its holders during Q1 totalled $6.3bn, drawing criticism of the firm amid the cost-of-living crisis. Shell announced today a further $4bn of share buybacks, to be completed by the second quarter of the year, which follows another $4bn announced in Q4 which is now completed. READ ALSO: WAEC Announces Date For Commencement Of 2023 Examination Some Little Details You Did…

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Polaris Bank Is Most Improved Retail Bank – KPMG Customer Experience Survey

ADEOLA YUSUF

The 2022 KPMG Nigeria Banking Industry Customer Experience survey result listed Polaris Bank ‘as the most improved Bank under retail segment moving up five places to sixth position and 3rd under SME segment’, with the Bank showing significant improvement in customer ratings. Many customers have praised the Bank for its personalized service, proactive approach to problem-solving, and faster turnaround times. According to the survey, the Bank significantly improved its mobile banking propositions. Customers say that onboarding and the payments experience have also improved. Businesses also rated Polaris Bank highly for…

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Nigeria’s Bank Of Agric In N3.2b Loan Racket

ADEOLA YUSUF

. Parliament Fumes As Bank Purchases Tractors For 10 Unnamed Vendors       The Senate has indicted the Bank of Agriculture in Kaduna over N3.2 billion loan disbursed to ten vendors to purchase tractors and other equipment for allocation to end users. The indictment was sequel to the 2016 report of the Auditor General of the Federation considered by Senate Public Accounts Committee chaired by Senator Mathew Uhroghide. READ ALSO: Sudan Crisis: Egypt Refuses To Open Border, Nigerians Heading To Port Sudan Real Estate Stakeholders To Brainstorm At Metro…

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