Access Bank to Sell 5-Year Eurobond to Investors

By Modupe Gbadeyanka A cutting-edge German-Nigerian financial technology (fintech) firm, BFREE, plans to put down $40 million to acquire some distressed loan portfolios in Union Bank of Nigeria. A statement from the Nigerian lender said both parties signed a Memorandum of Understanding (MOU) in Berlin on November 21, 2023, at the German-Nigerian Business Forum. It was disclosed that BFREE would partner with its international financing partners to refinance bad loans from Union Bank, particularly those delayed in repayment or already written off. Union Bank expressed its optimism that this strategic partnership with BFREE would not only bolster the bank’s financial

Sterling Bank Limited’s cutting-edge investment platform, Doubble, has been upgraded with new features aimed at improving investment returns for existing and new customers. With various flexible naira and dollar investment options, including money market offerings with returns higher than your bank’s returns on savings. The digital savings and investment platform provides a seamless avenue for individuals to build wealth. Users are provided with a guaranteed income stream and fixed growth over a set period, as well as a hedge against market volatility, the ability to secure loans against account balances, and the convenience of transferring the annuity to a spouse

By Nwaorgu Faustinus Rivers State chapter of All Progressives Congress (APC) has said it finds it disgustingly hypocritical for Governor Nyesom Wike to extend an advice on peaceful conduct of congresses to the APC while the dust generated by massive violence and mayhem that characterized the recent Peoples Democratic Party (PDP) local government primaries across the state was yet to settle. The APC in a statement signed by its Publicity Secretary, Mr Chris Finebone, said, “We believe that the unsolicited advice by Governor Wike is a script from his dubious and irresponsible politics to divert attention from the massive criticism

By Dipo Olowookere Music acts at Publiseer are currently celebrating following the digital content distribution company’s giant leap in the business of distributing and monetizing their works across Africa. The music aggregator have recently released its subscription streaming numbers in excess of 1.5 million streams, as garnered from the amazing variety of contents on hundreds of digital stores worldwide. This comes barely a year into the business of digital content distribution and monetization, with the mission of promoting the creativity of the African people to the rest of the world. The digital content distributor reported 1,400,376 subscription streaming and 124,762

By Dipo Olowookere A leading distributor in household items in Nigeria, Stevenchuks Global Associate Limited, has been chosen to be the official wholesale and retail distributor of Laser range of products. With this, the firm will use every legal means within its power to market and distribute items produced by the Sun Mark, a company based in the United Kingdom, in Nigeria. Some of the leading brands are Laser Salad Cream, Laser Baked beans, Laser Ketchup and Golden Country Mayonnaise. Stevenchuks, in a statement made available to Business Post, said, “By purchasing from us (either in wholesale or retail), you

By Adedapo Adesanya In what would be his last Independence Day address, President Muhammadu Buhari, on Saturday, defended his government’s borrowing policy, describing it as a necessary step to provide the infrastructure that would expand opportunities for the growth of the Nigerian economy. Mr Buhari stated in the address to the country on October 1, 2022, that, “The federal government is already expanding port operations to ensure that they provide opportunities for the growth of the Nigerian economy. “We have also continued to accelerate our infrastructure development through serviceable and transparent borrowing, improved capital inflow & increased revenue generation by

By Modupe Gbadeyanka Chairman of Cement Company of Northern Nigeria (CCNN) Plc, Mr Abdulsamad Rabiu, has assured shareholders of the cement firm that they stand to gain a lot from the business combination between CCNN and Obu Cement Company Plc. At a court-ordered meeting held at Transcorp Hilton Hotel, Abuja, majority of the company’s investors voted to stamp the proposed merger between the two companies. At the meeting presided over by Mr Rabiu, 157 out of the 170 accredited shareholders voted in favour of the deal, representing 99.93 percent of the 307,027,755 shares of those at the gathering. Addressing the

By Modupe Gbadeyanka One of the Directors of a leading financial institution in Nigeria, Diamond Bank Plc, has retired from the board of directors of the company. It was gathered that the director that retired from the bank is Dr Olubola Adekunle Hassan. In a letter dated January 24, 2017 titled ‘notification of retirement of Dr Olubola Adekunle Hassan as a Director of Diamond Bank Plc’, the firm said the retirement took effect from Wednesday, December 21, 2016. Diamond Bank, in the letter signed by its legal adviser, Ms Nkechi Nwosu, disclosed that, “We write to inform you of the

By Aduragbemi Omiyale The Nigerian Exchange (NGX) Limited has expressed its excitement over the readiness of the federal government to address the lingering foreign exchange (FX) constraints in the country. The chief executive of the bourse, Mr Temi Popoola, who lamented the negative impact of the forex shortage on the market, said he was optimistic that the administration of Mr Bola Tinubu would tackle the issue head-on. During his inauguration on Monday, Mr Tinubu tasked the Central Bank of Nigeria (CBN) to adopt a single exchange rate system to restore investors’ confidence in the Nigerian economy. Speaking on Thursday in

By Modupe Gbadeyanka Acting Director-General of Nigeria’s Securities and Exchange Commission (SEC), Ms Mary Uduk, has joined the board of the International Organisation of Securities Commissions (IOSCO). Ms Uduk was elected to the board of IOSCO as a representative of the Africa/Middle-East Regional Committee (AMERC) for a period of two years. The AMERC comprises securities regulators that are IOSCO members within the Middle East and North Africa as well as sub-Saharan African region. IOSCO is an association of organisations that regulates the world’s securities and futures markets. Members are typically primary securities and/or futures regulators in a national jurisdiction or