Category: Top Stories

Elumelu: Africa needs massive capital for investments

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…we continue to support critical projects that uplift communities   The Founder, The Tony Elumelu Foundation, Mr. Tony Elumelu, has reaffirmed that African continent needs massive capital for investments. Elumelu, also the Chairman of United Bank for Africa (UBA), stated this on his X handle while reflecting on his visit to Abidjan, Côte d’Ivoire, for the launch of @UnitedCapital’s West African headquarters. According to him, “yesterday, I was in Côte d’Ivoire to mark a new milestone in our pan-African journey: launching @UnitedCapital’s West African headquarters. This is a major step in our mission…

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African Banker Awards: Cardoso emerges Central Bank Governor Of The Year

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Cardoso Following reforms initiated in the last two years as the head of Central Bank of Nigeria (CBN), the Governor, Olayemi Cardoso, has emerged the Central Bank Governor of The Year at the African Banker Award. The awards ceremony, which held last night on the sidelines of the African Development Bank Annual Meetings in Abidjan, Côte d’Ivoire, and attended by 500 of the continent’s leading lights in banking and finance, saw Cardoso winning the prize in the keenly contested category. According to a statement issued by the organisers, Cardoso has…

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CBN commences auction of non-interest asset-backed securities

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The Central Bank of Nigeria (CBN), on Monday, announced that it had commenced the auction of “CBN Non-Interest Asset-Backed Securities (CNI-ABS) and “CBN Non-Interest Note (CNIN).” In a circular to all Non-Interest Banks, conventional banks with Non-Interest banking window and Authorised Dealers, posted on its website, the apex bank also announced the deployment of the Nigerian Non-Interest Financial institutions’ Master Repurchase Agreement. According to the circular, “the introduction of the CNI-ABS aims to provide the non-interest banks with a non-interest financial instrument which supports the bank’s liquidity management objectives.” On the CNIN, the circular said…

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Dangote to deepen FG’s diversification agenda with coal export soon

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The  Nigerian Ports Authority (NPA) and Dangote Industries Limited (DIL) are targeting between  $6.5 million and $7 million as  daily revenue from exports. The  President of DIL, Aliko Dangote, explained during a visit to NPA’s head office  in Lagos on Monday that the company would  start exporting coal out of Nigeria in the next couple of weeks, adding that its fertiliser export would  be almost like eight cargoes.  Dangote said that the refinery operations would not export less than 25 million tonnes of various products. According to him,  the company will also be exporting almost…

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UBA launches *919# advance top-up feature to provide instant access to customers

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Africa’s Global Bank, United Bank for Africa (UBA) Plc, has launched a new feature called Advance Top-Up on its USSD banking platform *919#, which is designed to provide instant access to airtime and data for its customers especially when they are out of call credit or disconnected from the internet. The new feature which was unveiled at the UBA head office in Marina on Thursday, allows customers to borrow airtime or data directly from their mobile devices, offering a fast, dependable solution. UBA’s Group Head, Retail and Digital Banking, Shamsideen…

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Africa CEO Forum: Ogbonna, Mene, Zubairu Chart Path For Trade Devt

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At the Africa CEO Forum, leaders from across the continent gathered to discuss the critical role of private sector-led growth in the development of African trade and market integration under the topic “Fast-tracking African Integration: The Private Sector Imperative”. The session, which was one of the highlights of the 2-day event in Abidjan, saw Roosevelt Ogbonna, Managing Director/Chief Executive Officer of Access Bank, join Wamkele Mene, Secretary General of the AfCFTA, and Samaila Zubairu, President & CEO of Africa Finance Corporation (AFC), in a powerful conversation focused on the opportunities…

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Elumelu: Future belongs to nations with investments in Africa

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The Chairman, Heirs Holdings, Mr. Tony Elumelu, has called on countries interested in future greatness to invest in Africa. The prolific investor, who dropped the hint on his X handle while attending the Fintech Summit in Dubai on Monday, said the future belonged to nations that invest in Africa today with opportunities spanning electricity, mass transit, and digital connectivity. Emphasising that Africa is open and ready for business, Elumelu, who is also the Chairman, United Bank for Africa (UBA) and Founder, The Tony Elumelu Foundation, said: “Africa does not need…

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AXA Mansard Investments Renews Commitment To Empower Women

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In celebration of Women’s Month, AXA Mansard Investments Limited, a leading asset management firm, expressed its commitment to continue empowering women financially in the country. The company said this at the third edition of its flagship webinar series, ‘Achieve Much More, held virtually. This special Women’s Day edition, themed: “Women’s Wealth: How to Start from Where You Are”, was designed to equip Nigerian women with practical knowledge and tools for achieving financial security regardless of their life stage or income level. The virtual session featured seasoned financial advisor and Chief…

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Access To Contracts: PenCom Pleads With Sanwo-Olu To Make PCC Mandatory

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The Director General, National Pension Commission (PenCom), Ms. Omolola Oloworaran, has proposed a partnership with Lagos State Government to make the Pension Clearance Certificate (PCC) a mandatory requirement for companies seeking Lagos State Government contracts and services, as practiced at the federal level. She made the request during a courtesy visit to Governor Sanwo-Olu at the Lagos State Government House where she presented the report of PenCom’s 2024 routine inspection of the Lagos State Pension Commission (LASPEC), and to thank the governor for confirming his participation as special guest at…

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Elumelu: AFC Doing Better Than Envisaged

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Chairman, United Bank for Africa (UBA), Mr. Tony Elumelu, has commended the tremendous progress recorded by the Africa Finance Corporation (AFC) under the successive chief executive officers since inception. In his remarks at the AFC Day in London recently, Elumelu, who is a founding member of the Corporation, described the current CEO of AFC, Samaila Zubairu, as a unifier and a great person. The Conference was Themed: ‘AFC As a Gateway to Global – Africa Trade and Investment.’ According to him, “as founders of AFC, we had big aspirations and…

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