Home » FINANCING (page 31)

FINANCING

Fidelity Bank Appoints Chike-Obi Chairman

Fidelity Bank Plc has announced the appointment of Mr Mustafa Chike-Obi as the Chairman of the bank. Chike-Obi, who is currently Executive Vice Chairman at Alpha African Advisory, has over 40 years of experience in investment banking and the financial services sector. In a statement in Lagos on Sunday, Fidelity Bank explained that Chike-Obi’s appointment followed retirement of Mr Ernest ...

Read More »

NCDMB Signs Pact with Duport and Eraskon

Nigerian Content Development and Monitoring Board (NCDMB) has signed an equity investment agreement with Duport Midstream Company for the establishment of an Energy Park in Egbokor, Edo State. The Board also signed an equity investment agreement with Eraskon Nigeria Ltd., for establishment of a lubricating oils blending plant in Gbarain, Bayelsa. The Board, in a statement over the weekend in ...

Read More »

ExxonMobil Incurred $3.1 Billion Loss on Gas

Exxon Mobil Corporation incurred an unprecedented second straight quarterly loss as almost every facet of the oil giant’s business slumped amid Covid-19 lockdowns that stunted economic activity. The explorer’s oil and natural gas unit took a hit of as much as $3.1 billion as prices for those commodities slumped, according to a regulatory filing on Thursday. Margins in Exxon’s refining ...

Read More »

Pan Ocean and AMCON: Polaris Bank May Intervene and Seek Out of Court Settlement

There are strong indications that Polaris Bank is uncomfortable over Asset Management Corporation of Nigeria (AMCON) moves to take over Pan Ocean Oil Gas company over alleged N240 billion inedebtness. Financial Energy Review gathered that Polaris Bank may have been making moves behind the scene intervening to ensure that the matter is settled out of court. This is to give ...

Read More »

AKK Project: Fidelity Bank Delighted As Partners Commends Oilserv and NNPC

by Ben Ndubuwa…………….. Fidelity Bank Plc, has expressed delight to be associated with the Ajaokuta – Kaduna – Kano (AKK) Gas Pipeline Project and commended Oilserv Limited, contractors to the project and the Nigeria National Petroleum Corporation (NNPC) for their determination to ensure that the project comes to fruition Speaking at the flag off ceremony of the project at Ajaokuta, ...

Read More »

CBN Reduces Lending Rate from 13.5 to 12.5 Percent

by James Ikenna……. The Central Bank of Nigeria (CBN) has reduced its benchmark lending rate from 13.5 percent to 12.5 percent. The CBN Governor said this on Thursday. According to him, 10 members of the monetary policy committee backed the reduction. It is the first cut since March 2019 The Committee, however, retained the Cash Reserve Ratio (CRR) and the ...

Read More »

COVID-19: Fidelity Bank donates N10m to Plateau govt

by Musa Ibrahim….,……. Fidelity Bank Plc on Wednesday donated N10 million to the Plateau govt COVID-19 Trust Fund. The Regional Head, North Central, of the bank, Mr Sadi Zawuya, while making the presentation at Government House Jos, commended Gov Simon Lalong for his commitment in combating the disease in Plateau. “We want to appreciate and commend the state governor for ...

Read More »

NEIT and FAAC Disburse N1.95 Trillion to Federal, State and Local Govt in 1Q

by Abisoye Shola………… The Nigerian Extractive Industries Transparency Initiative (NEITI) says the Federation Accounts Allocation Committee (FAAC) disbursed N1.95 trillion to the federal, state, local governments and other statutory agencies in the first quarter of 2020. NEITI disclosed this in its quarterly report released in Abuja, on Monday. It said the disbursements showed that N791.4 billion went to the federal ...

Read More »

CBN Gives Nod to Money Repatriation Amid Shortage of Forex

by James Ikenna……… The Central Bank of Nigeria (CBN) has given a nod to investors to take out their money amid shortage of foreign exchange and dwindling external reserve occasioned by the fall in oil price due to the pandemic. For instance it is expected that Nigeria’s external reserves, which were about $36.3 billion two months ago is going down ...

Read More »