Inner Galaxy: Abia committee says allegations grossly exaggerated

Allegations of sexual harassment, bad working conditions, and physical assault on workers, leveled against Inner Galaxy Steel Company Limited, a Chinese steel manufacturing firm, operating in Abia State, is grossly exaggerated and included largely false claims, investigative committee, says. A thread on Twitter from a private investigator with the handle, @Truthfully83, on August 12, 2020,…

Flour Mills appoints Anammah as board member

Flour Mills of Nigeria (FMN), Nigeria’s largest miller with 32 percent market share, has appointed Juliet Anammah to its board of directors effective from September 10, 2020. This was contained in a notification sent to the Nigerian Stock Exchange (NSE) and signed by the company’s secretary, Umolu Joseph. Read also: Ellah Lakes Plc signs agreement with…

InfraCredit completes drawdown of AfDB $10m subordinated unsecured 10-year facility

InfraCredit, a ‘AAA’ rated specialised infrastructure credit guarantee institution, has announced that the drawdown of $10 million subordinated unsecured 10-year facility has been completed under the Subordinated Loan Agreement with the African Development Bank (AfDB) an international financial institution and multilateral development bank. According to a statement by Stefan Nalletamby, the Bank’s Director of Financial…

Sahara Energy, Petroci sign $43m deal to boost LPG supply in Cote d’ivoire

Sahara Energy Logistics Holding Limited (a Sahara Group company) and Société Nationale d’opérations Pétrolières de la Cote d’Ivoire (the national oil company of Cote d’Ivoire, Petroci Holding) have entered into a Joint Venture Agreement (JVA) to facilitate the construction of a 12,000 metric tons Liquefied Petroleum Gas (LPG) storage facility to guarantee LPG supply security…

DBN advocate sustainability banking for Mfbs

As Nigeria and global communities continue to grapple with effects of climate depletion and economic uncertainties enforced by the COVID- 19 pandemic, Development Bank of Nigeria (DBN) has urged Microfinance Banks (Mfbs) and other Participating Financial Institutions (PFIS) to improve sustainability efforts and become more responsive to social and ecological environment. “Currently, the overall awareness…

Afreximbank disburses US$200m to Nigeria’s Zenith Bank to cushion impact of COVID-19

African Export-Import Bank (Afreximbank ) has disbursed $200 million to Zenith Bank Plc Nigeria under its Pandemic Trade Impact Mitigation Facility (PATIMFA). The funds will assist Zenith Bank to continue to maintain foreign currency trade flows impacted by the COVID-19 pandemic . They will also allow Zenith Bank to on-lend to eligible sub-borrowers involved in…

FITC, NIBSS collaborate to host largest cybersecurity conference in Africa

Against the background of increasing high profile data breaches with increasing sophistication, FITC in collaboration with the Nigeria Inter-bank Settlement System is set to host the largest financial services sector cybersecurity in Africa. The conference with the themed “Combating Cybercrime: Strategies for Strengthening Emerging Markets,” which is scheduled to hold on Thursday, September 10, 2020,…