Business

Nigeria’s Access Bank Acquire Diamond Bank

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Nigeria’s Access Bank Acquire Diamond Bank

By Kede Aihie Nigeria’s Access Bank has announced acquisition of Diamond Bank. This acquisition will create Nigeria’s largest banking institution. Access bank also plan to launch a $200 million rights issue. CEO of Access Bank, Herbert Wigwe said, “Access Bank has a strong track record of acquisition and integration and has a clear growth strategy. In a letter dated December 17, 2018, signed by Director of Banking Supervision, Ahmad Abdullahi, from Nigeria’s apex bank, Central Bank of Nigeria (CBN), to the CEO of Access bank. The apex bank...

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African oil ministers to attend Nigeria’s Nigeria International Petroleum 2019 summit

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African oil ministers to attend Nigeria’s Nigeria International Petroleum 2019 summit

About 20 African oil ministers and various heads of delegation including members and non-OPEC member nation, to attend the African focus strategic conference and exhibition for the petroleum sector from January 27 to 30, 2019 at the International Conference Centre, Abuja Nigeria. According to Dr Emmanuel Ibe Kachikwu, the President of African Petroleum Producers Association (APPO) and Nigeria Minister of State for Petroleum Resources, “the Nigeria International Petroleum Summit’ (NIPS2019) will be Africa’s largest and most definitive...

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UK Ambitious Trade Visit to Nigeria Kenya and South Africa

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UK Ambitious Trade Visit to Nigeria Kenya and South Africa

UK Prime Minister Theresa May will lead an ambitious trip to Nigeria, Kenya and South Africa this week on her first visit to Africa as Prime Minister. The Prime Minister will meet with: President Cyril Ramaphosa in Cape Town in South Africa; President Muhammadu Buhari in Abuja; and President Uhuru Kenyatta in Nairobi. Her visit comes at a time of enormous change with the UK’s move towards Brexit. The visit will present a great opportunity for the UK, Nigeria, Kenya and South Africa to work together for mutual benefit. The focus of this visit...

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Teleology pays $50m non-refundable deposit for Nigeria’s 9mobile

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Teleology pays $50m non-refundable deposit for Nigeria’s 9mobile

By Kede Aihie Teleogy Holding, make payment of $50 million non refundeble deposit for Nigeria’s fourth largest mobile network operator (9 mobile, formerly known as Etisalat). They are expected to pay the balance of $500 million in the next 90 days Teleology was said to have paid the $50 million from Keystone Bank, with United Capital Trustees Ltd and United Bank for Africa (UBA) Plc as beneficiaries. According to Adrian Wood “the Share Purchase Agreement has been executed, so has the Loan Purchase Agreement. “With the execution of the Loan...

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Nigerian Trade and Investment Opportunity

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Nigerian Trade and Investment Opportunity

by Daniel Edwin Gilbert Martin Brown is a London-based Brit with a passion for Nigeria. He is very glad to be returning this November, on this occasion leading a multi-sector and high-level UK Trade & Investment Mission to the country. He has worked in the UK Parliament’s House of Commons as a Senior Parliamentary Adviser, focusing on facilitating reciprocal links and trade between the UK and Gulf of Guinea nations, in particular Nigeria. Conversations and friendships established between Martin Brown and members of African diasporas...

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