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Bayobab, MTN Nigeria To Land Longest Subsea Cable In Nigeria

Bayobab, MTN Nigeria To Land Longest Subsea Cable In Nigeria

News
Bayobab, a pan-African digital connectivity solutions provider, has partnered with MTN Nigeria to land a 45,000km subsea cable in Nigeria. Known as ‘2Africa,’ the cable landing station is at Mopo-Onibeju Lekki area of Lagos. 2Africa is said to be the longest under-water cable in the world, passing through three continents and 33 countries, several of which are in Africa; expanding the rapidly growing African digital economy and positively impacting growth across the continent. Managing director, Bayobab Nigeria, Josephine Sarouk, in a press statement said that the cable will directly support economic development in Africa, fostering further growth of 4G, 5G and increased broadband penetration to millions of people and businesses. “Bayobab has invested in a myriad of submarine cab...
Report Corrupt Conducts, Wrongdoings, NIMASA DG Tells Staff

Report Corrupt Conducts, Wrongdoings, NIMASA DG Tells Staff

News
The director general of the Nigerian Marítime Administration and Safety Agency (NIMASA), Dr Bashir Jamoh, on Thursday, charged staff of the agency to report and speak up against misconducts and wrongdoings through proper anti-corruption channels Jamoh disclosed this during the inauguration ceremony for the Anti-corruption and Transparency Unit (ACTU), of the agency in Lagos. Jamoh who was represented by the director Internal Audit, Olamide Odusanya, said corruption has plagued the society, thereby eroding public trust, hampering development and denying justice. He stated that corruption has led to the nation’s resources needed to empower and develop the nation’s economy being syphoned. “Every Nigerian is aware that Corruption has long plagued our society, eroding public trust,...
RMB Nigeria Appoints Bayo Ajayi As Acting CEO

RMB Nigeria Appoints Bayo Ajayi As Acting CEO

News
The Board of Directors of Rand Merchant Bank Nigeria has announced the appointment of Bayo Ajayi as Acting CEO of RMB Nigeria. This new appointment has the approval of the Central Bank of Nigeria (CBN). Speaking on this development, RMB CEO and chairman of the RMB Nigeria Board, Emrie Brown, said “on behalf of the Board of Directors at RMB Nigeria, I welcome Bayo Ajayi as the Acting CEO, and I am confident that under his leadership, we will continue to effectively partner our clients, grow the business and positively contribute to Nigeria’s economy.” Responding to the news of his appointment, Ajayi said: “I’m humbled by the opportunity to take up this role at such a critical time for Nigeria. We will continue to partner with our clients as they navigate through the headwinds.” Pr...
Sanwo-Olu approves work-from-home, slashes transport fare

Sanwo-Olu approves work-from-home, slashes transport fare

News
The Lagos State Governor, Babajide Sanwo-Olu, on Thursday, announced a 25 per cent rebate on fares for government-owned transport schemes. The governor spoke during a live media chat to intimate residents of steps being taken to reduce the economic burden on Lagosians. On Tuesday, the Lagos State House of Assembly resolved to summon the state commissioners for agriculture and transportation to brief lawmakers on what they were doing to make life more bearable for residents in view of the economic hardship confronting the country. Announcing measures the government was taking, the governor said civil servants from levels one to 14 would begin to work only three days a week as part of a measure to ease the economic challenges on residents. “As a government, we cannot be everythi...
Tinubu Appoints Gaga NEXIM Bank ED

Tinubu Appoints Gaga NEXIM Bank ED

News
President Bola Tinubu has approved the appointment of Ibrahim Khalil Gaga as executive director, Corporate Services, at the Nigerian Export-Import Bank (NEXIM) According to a statement by Presidential spokesman Ajuri Ngelale on Wednesday, Gaga, a lawyer, has gained over 25 years of experience in the banking sector as well as in legal services.He said prior to his appointment, he was the Board Secretary and Legal Adviser at NEXIM Bank. “The President expects that Gaga will bring to his new role renewed zeal and diligence to enhance NEXIM’s mandate of providing finance, risk mitigation services, accurate trade and market information, as well as export advisory services to Nigerians in full support of the economic development agenda of his administration,” he said . SOURCE: LEADERSH...
Analysts Laud UBA’s N1trn Market Capitalisation Milestone

Analysts Laud UBA’s N1trn Market Capitalisation Milestone

News
Financial analysts have said that for the board and management of Africa’s Global Bank, United Bank for Africa (UBA) Plc, there was no other better way of sending the right signals for stakeholders than with the news that the bank has joined the elite group of companies with a market capitalization of over N1tn, just as its share price value hit N29.90 per share. Sources within the bank said with the capitalization, UBA Plc has shown that it knows what it takes to sit atop the banking ladder in Nigeria and Africa. The bank’s N1,022,562,698,843 has made it the third most capitalised financial institution in Nigeria, a remarkable lift from N283.8bn at the beginning of 2023. With 34,199,421,366 shares in issue, UBA’s N1tn market capitalization mark comes amidst the bank’s share being name...
Peter Obi Kicks As CBN Increases Customs Exchange Rate By 9%

Peter Obi Kicks As CBN Increases Customs Exchange Rate By 9%

News
Less than five days after the Central Bank of Nigeria (CBN) reduced exchange rate for Customs cargo clearance from N1,515.48 to N1,472.756, the apex regulatory bank, on Wednesday, increased the rate to N1,605.82 per dollar representing nine per cent increment. But, the presidential candidate of the Labour Party (LP) in the 2023 general election, Peter Obi, has called on the federal government to halt the inconsistency in duty charges, saying it was affecting the general business climate in the country. LEADERSHIP gathered that the new rate, which had already been reflected on the Nigeria Customs Service (NCS) portal, has further dampened the hope of importers. LEADERSHIP reports that earlier on June 24, 2023, the CBN adjusted the exchange rate from N422.30/$ to N589/$, and on Jul...
Peg Dollar Rate At N750/$1, Gas Suppliers Urge Federal Govt

Peg Dollar Rate At N750/$1, Gas Suppliers Urge Federal Govt

News
The Natural Oil and Gas Suppliers Association of Nigeria (NOGASA) has urged the federal government to tame the worsening exchange rate crisis, by adopting the N750/$ 2024 Budget exchange rate benchmark as its official exchange rate. he association also urged the federal government to ensure that payments for petroleum products are made in naira, as part of measures to address the continued rise in prices of petroleum products. National president of the association, Benneth Korie, stated this during a press briefing in Abuja on Tuesday. According to him, most Nigerians have made dollar their main currency used in trading, adding that the rise in exchange rate was a major challenge to the modular refineries in the country. He blamed the rising cost of diesel and the high dollar ...
TRELION. brings together Emily Wale-Koya, Emeka Ebeniro, Haoma Worgwu, Faith Fetaru, Dr Daniel Moses, and others to discuss Global Branding strategies at Personal Branding Summit (PBS) 2024.

TRELION. brings together Emily Wale-Koya, Emeka Ebeniro, Haoma Worgwu, Faith Fetaru, Dr Daniel Moses, and others to discuss Global Branding strategies at Personal Branding Summit (PBS) 2024.

Africa
Africa’s No. 1 Global Personal Branding Summit would hold on Friday, 23rd February to Sunday, 25th February 2024, leading thought influencers and global architects would be coming together at Personal Branding Summit (PBS) 2024.  Personal Branding Summit (PBS) 2024 is put together with the aim of educating and engaging the public and all stakeholders including SMEs on the importance of having and growing a global brand. Personal Branding Summit (PBS) 2024 is designed purposely to drive effective branding in individuals, corporate organizations, SMEs, governments, and non-governmental organizations by providing relevant insights, skills, and tools for application in actualizing this goal.  The event which would happen Live on Youtube at 7 pm each day, would h...
Closing Nigeria’s Energy Deficit Gap Remains Top Priority – NNPC

Closing Nigeria’s Energy Deficit Gap Remains Top Priority – NNPC

News
Despite the various obstacles facing the country such as insufficient investment and multiple taxes, the Nigerian National Petroleum Company (NNPC) Limited has expressed its commitment to filling the energy deficit gap and contributing significantly to wealth creation in Nigeria. The group chief executive officer of the  NNPC, Mele Kyari, during his presentation at the Ministry of Finance Incorporated (MOFI) Public Wealth Management Conference in Abuja, on Tuesday, said no public wealth creation endeavour can achieve any meaningful success without energy security. The GCEO noted that all other wealth creating activities such as agriculture rely heavily on one form of energy or the other to thrive. “If you don’t have energy, you don’t have agriculture. You can do all the a...

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