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Dangote To Double Investment In Cameroon

  The President of Dangote Group Aliko Dangote, has disclosed the company’s fresh investments drive towards expanding the output from its Douala plant, Cameroon, from the current 1.5 million metric tonnes per annum (mmtpa) to over three mmtpa. The initial investment cost the group $150 million (about N30 billion). During ...

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Unpaid Salary: Submit Your Loan Details – CBN Tells State Govs

Following the ongoing crisis of inability to pay workers’ salaries by some states in the country, the Central Bank of Nigeria has asked state governments to furnish it with the details of their loan obligations by Wednesday at the latest. The directive was issued by the Federal Ministry of Finance ...

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Power: I’m Keen About Mambilla, Other Hydro-power Projects –Buhari

President Muhammadu Buhari has shown his concern for the accelerated construction of hydro-power projects for improvement of power and irrigation to better the lives of Nigerians. The President made his determination known when he granted audience to officials of CGGC, the Chinese construction company working on the Mambilla Power Project. ...

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BVN Registration: UBA Launches Short Code *919*6# For Customers

United Bank for Africa (UBA) Plc has launched the short code *919*6# for their customers who have already registered for the Bank Verification Number (BVN) in other banks to submit their numbers to it using the same phone with which the number was registered with other banks. The bank on ...

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NCC: Plot To Renew Eugene Juwah’s Tenure Backfires

Expectations from some quarters that Dr. Eugene Juwah, Executive Vice Chairman/Chief Executive Officer, Nigerian Communications Commission (NCC), would continue in office for another five years as Nigeria’s telecommunications chief regulator is set to be dashed following fresh revelations of the illegalities perpetrated in the quest to give him a second ...

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Ahmad Farroukh, MTN S’Africa CEO, Resigned

MTN Group on Monday announced the resignation of Ahmad Farroukh, Chief Executive Officer, MTN South Africa. According to the mobile telecommunications service provider, Farroukh’s resignation will take effect from July 31, 2015. “This was a difficult decision to take for Ahmad, but unavoidable due to personal and family reasons,” says ...

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Airtel Raises $1.3bn From Mobile Towers Sales

Bharti Airtel said it has raised $1.3 billion from the sale of its mobile towers in five African countries by Helios Towers, IHS Plc and American Tower Company. The proceeds will go towards reducing the $10 billion debt incurred on its African operations in 2010. Last month, Airtel said a ...

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CBN Defends Selective Forex Restrictions

The Central Bank of Nigeria (CBN) has defended its decision to stop the use of foreign exchange for the importation of certain specific goods. In a statement by the CBN Director of Corporate Communications Ibrahim Mu’azu in Abuja on Friday, CBN said it took the decision because it was important ...

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It’s Shameful Nigerians Go To Bank Their Money Abroad – Dangote …Aliko Dangote warns about the worst mistake a businessman can make

Media men had a piece of Aliko Dangote last weekend. And when they were done, many appreciated why he is one of the richest men in the world. In an interactive session with senior editors, Dangote discussed the state of the nation while explaining some details about his businesses that ...

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Bank Verification Number Registration: CBN Extends Deadline To Oct. 31

The Central Bank of Nigeria (CBN) has extended the registration for the Bank Verification Number (BVN) for all customers till October 31, 2015. Chaos ruled in most banks’ premises on Monday as hundreds of customers besieged banks to beat the June 30, 2015 deadline for the BVN registration which was ...

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