Tag: Segun Agbaje

Shell $2.3bn Assets’ Sale in Nigeria suffers Setback

ADEOLA YUSUF

No likelihood of any client raising the estimated $2.3 billion needed to purchase the Shell assets, says GTBank   The inability of Nigerian lenders to raised enough dollars for intending buyers of oil assets planned to be put on offer by Shell has stalled the exrcise. Royal Dutch Shell is planning to sell off its onshore and shallow water assets, being managed by its Nigerian unit, the Shell Petroleum Development Company (SPDC). Platforms Africa reports that Dollar Scarcity has worsened buyers’ apathy for the sale of the assets. READ ALSO:…

Read More

Nigeria’s GTBank Mulls Expansion, Acquisition of Kenyan Lender

Precious Ibekwe

  Guaranty Trust Bank Plc, Nigeria’s biggest lender by market value, plans to acquire a Kenyan lender as part of its expansion on the continent, according to the managing director, Bloomberg has reported. “I think the place we will still like to do business or do an acquisition is Kenya,” Segun Agbaje, the lender’s chief executive said at an investor call in Lagos, without giving a time-line for the acquisition. The Lagos-based lender already has offices in 10 countries outside Nigeria including Kenya. It wants to increase the contribution of…

Read More