FINANCING

The Central Bank of Nigeria (CBN) has reported a surge in the nation’s money supply, which reached a new high of N99.24 trillion in May 2024.This marks a 2% increase from the previous month’s figure of N96.97 trillion and a remarkable year-on-year growth of 78% from N55.69 trillion in May 2023.The increase was even more pronounced on an annual basis, ...

Photo : L-R Olumide Olatunji, Managing Director, Access Bank Ghana; Ama S. Bawuah, Board Chair, Access Bank Ghana, and Helen Decardi Nelson, Company Secretary, Access Bank Ghana, at the 16th Annual General Meeting of Access Bank Ghana held at its head office in Accra… yesterday. Access Bank Ghana Plc held its 16th Annual General Meeting (AGM) at its head office, ...

…….by Ben Ndubuwa……. Taamal Capital (“Taamal”), a UK-headquartered international and Africa-focused advisory and private investment management firm, has partnered strategically with RouQ & Company (“RouQ”), a leading Nigerian commercial legal firm in Lagos. The collaboration aims to leverage the unique expertise of both firms to enhance services for clients across Africa. Under this partnership, Taamal Capital and RouQ will offer ...

…As Kyari Lauds FG’s Presidential Executive Order for Fostering Growth in Nigeria’s Oil, Gas Sector……….. In a major step towards boosting Nigeria’s oil and gas production, the NNPC-TotalEnergies JV has officially announced a 550 million USD Final Investment Decision (FID) on the Ubeta Field Development Project. The milestone is in line with President Bola Ahmed Tinubu’s Presidential Executive Order on ...

First Bank of Nigeria Limited has confirmed the appointment of Olusegun Alebiosu as the substantive Managing Director (MD) and Chief Executive Officer (CEO) of the bank. Updating the Nigerian Exchange Group of recent development within the bank, the company’s Secretary, Adewale Arogundade, in a notice on Wednesday, said the appointment of Alebiosu is subject to the approval of the Central ...

The National Bureau of Statistics disclosed in its latest data has disclosed that the Nigerian inflation rate has hit all time high of 33.95 percent in May 2024, moving to 40 percent if the government do not curb the rising trend This represents an increase of 0.26% points when compared to the April 2024 headline inflation rate, according to the ...

Savannah Energy PLC, the British independent energy company focused around the delivery of Projects thatMatter, is pleased to announce its audited results for the year ended 31 December 2023. The results show that its average gross daily production was 23.6 Kboepd, broadly in line with FY 2022 production on a like-for-like basis when adjusted for a planned maintenance programme. The ...

………….by Victor Egbo…….Access Bank PLC (“the Bank”) has announced the successful completion 2024: of its acquisition of African Banking Corporation (Tanzania) Limited (“BancABC Tanzania” or “BancABC”), in line with its strategic expansion goals. This milestone follows the Bank’s initial announcement in July 2023 and marks yet another step in its journey to become the world’s most respected African Bank. With ...

…….NNPC sponsors the $3.3 billion crude oil arrangement…. Oando Plc has notified the public that on May 17 it was party to the successful closure of a $925million accordion arranged and coordinated by African Export-Import Bank (Afreximbank) for Project Gazelle. The accordion arrangement saw a contribution of $550million by Oando Trading, a subsidiary of Oando Plc. The balance $375million was ...

…….by Ben Ndubuwa……….. Major Energies Marketers Association of Nigeria {MEMAN) is now exploring the spectrum of energy mix in Nigeria with focus to close the existing supply and demand gap in the Nigeria energy market.  To this end the Association has expressed optimism about the future of renewable energy and is therefore insisting that it holds the key solution in ...