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 Nigeria, Others To Record 3.4% Growth, Says IMF

The International Monetary Fund (IMF), on Monday said Nigeria and other Sub-Saharan countries would grow their economies by an average of 3.4 per cent in 2018, from 2.8 per cent in 2017.   IMF’s country Senior Representative, Mr Amine Mati, said this during the public presentation of the Spring 2018 Issue of the Sub-Saharan African Regional Economic Outlook (REO) in Lagos.   The theme of the presentation was, “Domestic Revenue Mobilisation and Private Investment.”   Mati said about two-third of the countries in the region could experience the growth riding…

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UBA Restates Commitment To Growing Infrastructure, Deepens Financial Inclusion in Tanzania

UBA Tanzania, a subsidiary of the UBA Group, a pan African financial institution with presence in 20 African countries, Monday restated its commitment to support the Tanzanian government’s initiative to grow the country’s infrastructure, while also affirming the bank’s obligation to deepen the retail banking space in the country.   The assurance was given during a press conference addressed by the Bank’s Chief Operating Officer, Chris Byaruhanga in Dar Es Salaam, noting that as a member of UBA Group with asset of over $13 billion, the Tanzanian franchise has the…

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DAKUKU: NIGERIAN MARITIME SECURITY, WORK IN PROGRESS

…Says Regional Maritime Security is also Paramount to Nigeria’s Economic Development. The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Adol Peterside has stated that security in the Nigerian Maritime domain is a work in progress that requires the commitment of all stakeholders to ensure optimum safety of all investments in the sector. Speaking to journalists in Lagos at the weekend, Dr. Peterside stated that the Agency is taking the lead on the issue of maritime safety in the entire West and Central African sub-region…

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Shell JV Spends N14.85bn On GMoUs In Rivers

A total of N14.86bn has been invested by the Shell Petroleum Development Company of Nigeria Limited (SPDC) operated Joint venture on Global Memorandum of Understanding (GMoU) clusters in Rivers State, giving communities a highly-valued opportunity to decide and implement projects and programmes that have a lasting impact on people’s lives, Shell has disclosed.   The funding, since the GMoU concept took off in 2006, has enabled the 19 clusters in Rivers State to embark on projects covering health, education, water and power supply improvement, sanitation and infrastructure development. Speaking at…

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UBA Innovates With Another Product, ‘UBA Learn’ To Empower Students 

The pan-African Financial Institution, United Bank for Africa(UBA) has introduced a unique and innovative product, called ‘UBA Learn’ targeted at helping students achieve all round academic success. The Product, an online Learning Platform for students powered by Roducate, was launched yesterday, May 17, 2018 with particular emphasis on helping students within the age range of 5-16years and 17-24 attain academic excellence, while ensuring that the parents and teachers keep track and monitor their ward’s educational developments and performance. UBA Learn is accessible online, through a downloadable mobile app and  USSD (*919*33#) and is open…

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Shareholders Applaud Sterling Bank’s Return To Dividend Payment

Shareholders of Sterling Bank Plc on Thursday applauded the board and management of the bank for the transformation that has ensured its return to dividend payment. The shareholders gave the commendation at bank’s 56th Annual General Meeting (AGM) in Lagos to consider the 2017 accounts of the bank. The shareholders approved the payment of N575. 81 million dividend recommended by the board for the financial year ended Dec. 31, 2017. President of Association for the Advancement of the Rights of Nigerian Shareholders, Dr Farouk Umar, commended the board and management…

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UBA Kenya Leverages On Group’s Capacity to Finance Large Ticket Transactions In East Africa

…….says Iweriebor, CEO East, Southern Africa United Bank for Africa, a leading pan-African financial institution with operations in 20 African countries has assured the players in the private and public sectors in East Africa’s largest economy that its Kenyan franchise is ready and committed to finance key projects and business transactions capable of galvanising the economic development of the country and upscale the standard of living of its people. The Group’s Executive Director and newly appointed CEO for East and Southern Africa, Emeke E. Iweriebor said this while addressing a…

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Shell Boosts Domestic Gas Distribution Capacity By 150%

Shell Nigeria Gas (SNG) Limited has increased its domestic gas distribution capacity by 150% over the last six months. The increase in capacity will enable the company to distribute more than 100 million standard cubic feet of gas per day (MMscf/d) to businesses in its western operations. The new capacity is equivalent to some 400 Megawatts (MW) of gas to power, and has been enabled by the construction of a second train at the Agbara/Ota Pressure Reduction and Metering Station (PRMS) in Ogun State, from where SNG supplied its first…

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Senate Passes Companies and Allied Matters Act, Pro-Business Reform Bill

……..28 Years After, Most Comprehensive Today, the 8th Senate made history with the passage of the repeal and re-enactment of the Companies and Allied Matters Act (CAMA), which is the biggest business reform bill in Nigeria in over 28 years.   The Bill, heralds a new dawn for Small and Medium Enterprises (SME) development in Nigeria, as the country will now join a select group of countries with attractive investment environments.   Speaking on the passage of the Bill at plenary, President of the Senate, Dr. Abubakar Bukola Saraki, stated that…

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Heritage Bank, CBN, ICC Brainstorm On Global Trade Operation Systems

Heritage Bank Plc, Nigeria’s most innovative banking service provider, has hosted the May 2018 edition of the banking technique and practice meeting of the International Chamber of Commerce. The meeting held at the Victoria Island Office of the bank attracted representatives of the ICC Nigeria as well as the experts on the trade desks of different banks operating in the country and the apex bank in the country, the Central Bank of Nigeria. Welcoming the team, Mr. Dimitiri Dike, Chief Risk Officer for Heritage Bank, noted that the current dynamics in…

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