Oil and Gas Free Zones Authority Nigeria

Business

AMCON TO SELL POLARIS BANK AFTER 2019 ELECTIONS

Asset Management Corporation of Nigeria (AMCON) says Polaris Bank will be put up for sale after the 2019 elections. According to Reuters, this was disclosed by Jude Nwauzor, the AMCON spokesman, on Tuesday. Speaking on plans for the sale of the bank, Nwauzor said: “The election season has slowed down things. We would advertise for expressions of interest from investors ...

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DIAMOND BANK ISSUES STATEMENT REGARDING TAKEOVER BY ACCESS BANK

Statement Regarding Scheme To Merge With Access Bank The Board of Diamond Bank Plc (“Diamond Bank”) today announces that following a strategic review leading to a competitive process, the Board has selected Access Bank Plc (“Access Bank”) as the preferred bidder with respect to a potential merger of the two banks (“the merger”) that will create Nigeria and Africa’s largest ...

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TOYOTA UNVEILS COROLLA OF THE FUTURE

2020 Toyota Corolla: More Style, More Power, More Safety Toyota has unveiled the 2020 version of the Corolla designed to shed its image as a second class car maker. Wrapped in sheet metal, the 12th-generation Corolla sedan rides on Toyota’s New Global Architecture, otherwise known as TNGA. This scalable platform which is already featured in other Toyota products such as the ...

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OGFZA, Eko Support Free Zone Seal Management Deal

The Oil and Gas Free Zones Authority (OGFZA) and Eko Support Oil & Gas Free Zone have signed a set of agreements to manage the free zone as a public-private partnership and develop its infrastructure base to global standards to attract foreign and domestic investments. Eko Support Oil and Gas Free Zone, based in Apapa within the Lagos port complex, ...

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NIGERIA MOVES UP 10 PLACES TO 115TH IN GLOBAL COMPETITIVENESS INDEX

Nigeria has moved up 10 places to rank 115th in this year’s Global Competitiveness Index (GCI 4.0). The global competitiveness report is a publication of the world economic forum which ranks 140 countries in their level of global competitiveness. Indices considered for the ranking include enabling environment, human capital, markets and innovation ecosystem. GCI 4.0 looks at the level of ...

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SENATE APPROVES FG’S REQUEST TO RAISE MORE FOREIGN CAPITAL

The Nigerian Senate has approved the federal government’s  request to raise more foreign capital to the tune of $2.786bn from the international market. The plan had been approved in the 2018 Appropriation Act. The lawmakers also approved the external capital raising of 82.54 million dollars to refinance the balance of 500million dollars matured Eurobond in the international market. Chairman of ...

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NIGERIA NAMED BEST ECONOMY IN AFRICA 2018

Forbes Africa, a major global research firm, has named Nigeria the best economy in Africa. Nigeria emerged the best economy in Africa in 2018, beating  South Africa and Egypt. Nigeria emerged number 1 with $172 billion, followed closely by South Africa with $166.735 billion. Egypt came third with $ 78 billion, Ghana is seventh with $20.458.

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BREAKING: CBN TAKES OVER SKYE BANK, RENAMES IT POLARIS BANK

By Ofonime Iboro The Central of Nigeria has revoked the licence of Skye Bank Nigeria plc. This was disclosed by the Governor of Central Bank, Godwin Emefiele, during a press briefing in Lagos on Friday. He also disclosed that the bank will now be taken over by Polaris Bank. He said an injection of #786 billion has been made into ...

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Economic Reforms: $84bn Investments Recorded in 18 Months — Osinbajo

An update received from the office of the Vice President of Nigeria on the state of foreign investment inflow into the economy has indicated that about $83.9 billion worth of investments were announced between January 2017 and the end of the first quarter of 2018. The report titled, “2018 Making Business Work”, evaluated government’s efforts in improving the business environment ...

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NLC SEALS MTN OFFICES IN CALABAR

By Ofonime Iboro The Nigerian Labour Congress (NLC) has sealed the premises of telecommunications giant, MTN, over the company’s alleged ill-treatment of her staffs in MTN Etta Agbor office, Calabar and other offices in Cross River State.

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