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Davos: Africa Boosts Free Trade While Global Barriers Go Up

A new African free trade area could be just weeks away as the last few countries ratify an agreement signed last year. The plan to boost intra-African trade by half is gaining much attention in Davos this year. (AFRICAN EXAMINER) – When you ask Tony Elumelu if Africa would profit from free trade, the Nigerian […]

CBN Makes First FOREX Intervention For 2019 With $210m

(AFRICAN EXAMINER) –  The Central Bank of Nigeria (CBN) on Friday made its first intervention in the inter-bank sector of the Foreign Exchange (FOREX) market for 2019 with a sum of 210 million dollars. The CBN Director, Corporate Communications, Isaac Okorafor, said the wholesale sector of the market received 100 million dollars, while the Small […]

Tony Elumelu Foundation Opens Applications for Its $100m Entrepreneurship Programme

Application exclusively available on TEFConnect.com – the largest digital networking platform for African entrepreneurs Invitation to join existing 4,470 programme Fellows 4th Cycle drew over 150,000 applications from across the African continent The Tony Elumelu Foundation, the leading African-funded and founded philanthropy committed to empowering African entrepreneurs, is now accepting applications for the 2019 cohort of the […]

Airlines Transport 4.3 Billion Passengers in 2018 –ICAO

(AFRICAN EXAMINER) –  Preliminary figures released on Monday by the International Civil Aviation Organisation (ICAO) showed a total of 4.3 billion passengers were transported by air on scheduled services in 2018. The document issued by ICAO’s Chief of Communications, Mr Anthony Philbin, said this indicated a 6.1 per cent increase over 2017 when 4 billion […]

Business Magnate, Femi Otedola Sells Forte Oil

(AFRICAN EXAMINER) – The Chairman of Forte Oil Plc, Mr. Femi Otedola has announced his resolve to sell all his shares in the firm’s downstream business. Forte Oil gave the hint on divestment Monday by its majority shareholder in a notice signed by its General Counsel, Mr. Akinleye Olagbende. “Forte Oil Plc hereby notifies the Nigerian […]

After Denial, Diamond Bank Confirms Merger With Access

(AFRICAN EXAMINER) – After denial, the Board of Diamond Bank Plc Monday finally announced its merger with Access Bank Plc. The merger reportedly is expected to be completed in the first half of 2019. The two banks recently denied media reports of any merger. The bank’s Chief Executive Officer, Mr. Uzoma Dozie, said in Lagos that the Board had […]

Heirs Holdings Signs $600 million Facility Deal with Afrexim Bank

Photo: Chairman, Heirs Holdings Group, Mr. Tony Elumelu (L) and President of African Export-Import Bank, Dr. Benedict Oramah. (AFRICAN EXAMINER) –  As a further demonstration of the African Export-Import Bank’s (“Afrexim”) mandate to facilitate the growth of intra-Africa trade and support the development of African businesses, Afrexim on Tuesday  signed financing facilities totalling US$600 million with the […]

Ethiopian Airline Commences Flights To Manchester, UK

(AFRICAN EXAMINER) –  Ethiopian Airline has commenced four weekly flights to Manchester, its second destination in the UK with its ultra-modern B787 Dreamliner. A statement by the airline on Tuesday said the inaugural flight was graced by the UK Ambassador to Ethiopia, Mrs Susanna Moorehead, Group Chief Executive Officer of Ethiopian Airlines, Mr Tewolde GebreMariam […]

Applications for Tony Elumelu Foundation 2019 Entrepreneurship Programme Opens on TEFConnect

Applications for Tony Elumelu Foundation 2019 Entrepreneurship Programme Opens on TEFConnect The Tony Elumelu Foundation will open the 5thEntrepreneurship Programme application cycle on Jan 1st , 2019 Applications will be hosted on the largest digital networking platform for African entrepreneurs, TEFConnect – www.tefconnect.com On the 1st of January 2019, at 12am, WAT, the Tony Elumelu Foundation will begin […]

Stakeholders Brainstorm on Making Nigerian Products Go Global

By Eric Ojo, Abuja  (AFRICAN EXAMINER) – Participants at the just concluded 2nd Edition of the Nigeria Geographical Indications (GIs) Stakeholders’ Dialogue, have called for a concerted effort aimed at ensuring that products of Nigerian origin are identified and promoted in the global market. GIs apply to products that preserve local cultural practices and traditional […]

Customs to Commence Electronic Cargo Tracking in 2019

(AFRICAN EXAMINER) – The Nigeria Customs Service (NCS), says plans are ongoing to introduce Electronic Cargo Tracking System in 2019 to enhance its operations at various border posts in the country. The Comptroller-General of Customs, Col. Hameed Ali (rtd) made this known at a joint press conference with his counterpart from Uganda, Mr Kateshumbwa Dicksons. The […]

Ethiopian Airlines Takes Delivery Of 8th B777 Freighter

(AFRICAN EXAMINER) –  Ethiopian Airlines says it has taken delivery of the 8th B777 freighter aircraft in its cargo fleet family for its Cargo and Logistics Services, as Africa’s Largest Cargo operator. A statement by Ethiopian Group Chief Executive Officer, Mr Tewolde Gebre-Mariam, on Monday, said the delivery was in line with maintaining Ethiopian’s trajectory […]

Massive Anti-Gender Discrimination Protest Hits Google Offices

(AFRICAN EXAMINER) – Staff at the Google offices around the world Thursday stage an unprecedented series of walkouts in protest against the company’s treatment of women. The employees in the protest are demanding several key changes in how sexual misconduct allegations are dealt with at the firm, including a call to end forced arbitration – a […]

Bombardier Sues Mitsubishi Jet Program Over Trade Secrets

(AFRICAN EXAMINER) – Canadian airplane maker, Bombardier Inc, has sued the aircraft unit of Japan’s Mitsubishi Heavy Industries Ltd , saying former Bombardier employees passed on trade secrets to help Mitsubishi’s oft-delayed regional -Jet project. Bombardier filed the lawsuit late weekend in a federal court in Seattle against Mitsubishi Aircraft Corporation, Seattle-based Aerospace Testing Engineering […]

Senate Orders CBN to Suspend ATM Card Maintenance Charges

(AFRICAN EXAMINER) – The Senate has passed a resolution calling on the Central Bank of Nigeria (CBN) to suspend the Automated Teller Machine (ATM) card maintenance charges being deducted from customers. The resolution was made known Wednesday via a tweet from @SPNigeria. It came as part of a motion on the illicit and excessive bank charges […]

UBA Shows Resilience As Gross Earnings Hit N375 Billion

Photo: Group Managing Director/CEO, UBA Plc, Kennedy Uzoka …Group Profit Of N79 Billion (AFRICAN EXAMINER) – United Bank for Africa Plc, the pan African financial institution with presence in 20 African countries has announced its unaudited 2018 Third Quarter Financial Results, with impressive growth in Gross Earnings, which berthed at N374.8 billion, an 12.3 percent increase […]

KFC Runs Out of Chicken Amid Zimbabwe’s Economic Crisis

(AFRICAN EXAMINER) – Zimbabwe’s KFC fast food outlets on Wednesday were shuttered after running out of foreign currency with which to buy chicken, just one sign of a growing new economic crisis in the southern African country. Zimbabwe, which has long battled economic woes, is experiencing a dire shortage of foreign currency which has forced […]

HI 2018: Fidelity Bank Sustains Growth Trajectory as Profits Soar by 27% to close at N13bn

…Gross Earnings hit N88.9bn …80% of Total transactions now digital (AFRICAN EXAMINER) –  Fidelity Bank Plc posted an impressive half year results for 2018, recording a double-digit growth in key revenue lines and achieving significant traction in her chosen business segments. Details of the audited half year results, for the period ended June 30, 2018, […]

Group Alleges Fraud in Skye Bank License Revocation, Acquisition

(AFRICAN EXAMINER) – The recent revocation of Skye Bank’s Operational license by Central Bank of Nigeria (CBN) and subsequent acquisition by Polaris Bank Limited have been strongly criticized over lack of transparency and due diligence. Mr Luqman Soliu, President, Rights and Freedom Advocates (RIFA) in a statement made available to African Examiner alleged scam in […]

CBN Revokes Skye Bank Licence, Announces New Owner

By Niyi Adeyi LAGOS, NIGERIA (AFRICAN EXAMINER) – The Central Bank of Nigeria (CBN) has revoked the operating licence of Skye Bank Plc. The CBN Governor, who announced this Friday in Lagos at a press conference, said the apex action’s was with immediate effect. Following the development, Emefiele confirmed that the Bank has been taken […]

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