Trade

Showing: 101 - 110 of 113 Articles
Money market Trade

Awani, Afreximbank executive, receives Africa Economy Builders Award

Abidjan (Cote d’Ivoire), May 8, 2023 – Mrs. Kanayo Awani, the Executive Vice President, (Intra-African Trade Bank) in the African Export-Import Bank (Afreximbank), has been honoured with the African Economic Integration Champion Award at the 13th Africa Economy Builders Forum and Awards held in Abidjan, Cote d’Ivoire, on April 27, 2023. The award recognises Awani’s unwavering commitment to the realization of the aspirations of the African Union’s Agenda 2063 – the Africa We Want, and her exceptional professional performance as reflected in her significant contributions to Afreximbank’s role in promoting economic growth …

Money market Trade

Afreximbank increases financing facility to Fidelity Bank

  Cairo, March 22 2023 – The African Export-Import Bank (Afreximbank) has increased its financing facility to Fidelity Bank in Nigeria to $180 million under the Afreximbank Trade Facilitation Programme (AFTRAF). The bank said in a statement on Wednesday that the decision to increase its support was consistent with the economic and commercial success of the financing facility, the first US$125 million of which had been fully utilised by Fidelity Bank.   It said that the expansion to US$180 million was also bolstered by the continued strong financial performance of Fidelity …

Trade Travel

NDLEA arrests businessman with 9.4 kilograms of heroin

Lagos, March 5, 2023 – The National Drug Law Enforcement Agency (NDLEA) on Sunday said it arrested a businessman, Kingsley Celestino, with over 9.40 kilograms of heroin at Murtala Mohammed International Airport (MMIA) Ikeja, Lagos. It said the drugs were concealed in false bottoms of his two travelling bags. The suspect, a business class passenger on Qatar Airline flight, was arrested at Terminal 2 of the MMIA on Saturday, March 4, 2023, on his way to India. Though a native of Nnewi South Local Government area of Anambra State, the …

Trade

NAFDAC calls for synergy between Nigeria, India pharmaceutical sectors

Lagos, March 5, 2023 – The National Agency for Food and Drug Administration and Control (NAFDAC) has called for synergy between Nigeria and India Pharmaceutical sectors to provide unhindered access to safe, efficacious, and affordable medicines. Prof Mojisola Adeyeye, it’s Director-General,   made the call at the India-Nigeria Pharmaceuticals and Health Industry forum in Lagos on Thursday, March 2, 2023. The forum aims to provide concrete steps towards birthing, actualizing, and strengthening mutual benefits for pharmaceutical business in both countries. Adeyeye said that the prognosis for the Pharma business in Nigeria …

Tech Trade

NDE disburses N85m loan to 494 trainees

Abuja, Jan. 17, 2023 – The National Directorate of Employment (NDE) says it has disbursed N85 million in loans to 494 beneficiaries under its Environmental Beautification Training Scheme (EBTS). Its Director-General, Abubakar Fikpo, said this on Monday, adding that the loan disbursement was being done under the Special Public Works Programme. He said the facility, comprising basic work tools and cash components, would be disbursed to the graduate trainees from the country’s six geo-political zones. Fikpo said the directorate, in November 2022, concluded three months of EBTS skills training for …

Foreign Trade

Malaysia foresees lower crude palm oil prices

Kuala Lumpur, Jan. 11, 2023 – Malaysian analysts on Wednesday foresaw crude palm oil (CPO) prices to trend lower in 2023 on increased supply and slow demand. Malaysia’s leading securities and investment group, Affin Hwang Investment Bank, said in a note that CPO prices could be supported at 3,700 ringgit. That is about $846 to 4,000 ringgits ($914) per tonne in the short-term, given the seasonally low production period in major producing countries of Indonesia and Malaysia due to the monsoon season. However, for the full year of 2023, it …

General News Trade

Dangote Cement Ibese marks Community Day with social responsibility projects

By Tajudeen Atitebi Lagos, Dec. 20, 2022 – The Ibese Cement Plant of Dangote Industries launched its multi-million naira Corporate Social Responsibility (CSR) projects for host communities at its Community Day last weekend. The event, tagged “2022 Host Community Day”, was an opportunity for the company to unveil its development projects, skill acquisition programmes, scholarships, farming techniques training as well as women empowerment for its 17 host communities. More than 120 students from primary to tertiary institutions received scholarship awards, while 50 vulnerable women and widows were given grinding machines. …

Foreign Investment Trade

Afreximbank launches TRADAR Club to empower international businesses

Cairo, Dec. 19 2022 – The  African Export-Import Bank (Afreximbank) has launched Afreximbank TRADAR Club, a member-driven network aimed at empowering international businesses and executives to transform trade and investments in Africa through trusted trade intelligence and advisory. services. A statement by Afreximbank on Monday said the club was launched in Cairo on December 18, 2022.   “TRADAR Club will deliver innovative digital tools and networking opportunities, helping members to discover new markets, grow their business, save time, access dedicated expert support, post and respond to new business opportunities network, meet business/trading partners …

General News Trade

NDIC resolves 248 complaints, recovers N8.3 billion to bank customers

Kano, Dec. 9, 2022 – The Nigerian Deposit Insurance Corporation (NDIC) successfully resolved 248 complaints and recovered over N8.3 billion to bank customers between January and November this year. Mr Bello Hassan, its Managing Director, said this at the NDIC Day at the Kano International Trade Fair in Kano on Thursday. He said that the highest of 190 complaints bordered on unauthorised withdrawals, 33 complaints were on  POS issues, while 25 complaints bordered on banks fees, charges and frauds. He said the cases were reported to NDIC through its toll-free help …

General News Trade

Nigeria Customs Service in Ogun impounded N4.9bn worth of goods in 9 months – controller

Idi-Iroko (Ogun), Dec 7, 2022 – The Ogun Area One Command of Nigeria Customs Service impounded goods worth N4.9 billion between February and December this year. Comptroller Bamidele Makinde, the Controller of the Command, disclosed this on Tuesday to journalists at a briefing on the activities of the command in Idi-Iroko. He said that the command generated N58, 676,751 from import duties and auction sales of petroleum products. Bamidele said the command intercepted 16,224 kegs of petrol, and 99 vehicles used as means of conveyance of smuggled goods during the …