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FG to Provide Indemnity for Lagos Trade Fair Complex Investor

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Dr. Okechukwu Enelamah
  • FG to Provide Indemnity for Lagos Trade Fair Complex Investor

The Federal Government is ready to provide indemnity for any core investor interested in the concession of the Lagos International Trade Fair Complex.

The Minister of Industry, Trade and Investment, Okechukwu Enelamah, said this at the commencement of a meeting for advisory services for the concession of the LITFC, according to a statement issued in Abuja on Monday by the Head of Public Communications, Bureau of Public Enterprises, Amina Othman.

The minister stated that the Federal Government was ready to provide indemnity to ensure that the re-concession of the complex was successful.

He was quoted to have said, “The Federal Government is prepared to provide indemnity to cover all the legal issues and other encumbrances on the LITFC.

“On behalf of the Federal Government and this ministry, I wish to note that it is important to always do the right thing as it is being done now on the Lagos International Trade Fair Complex by the professionals at the BPE.

“For the love of country and for professionalism, we support this development.”

The Director General, BPE, Mr Alex Okoh, said that the Federal Government was eager to promote private sector participation in the operation, management and maintenance of the trade fair complex.

He added that the government was also keen on ensuring that the complex was managed on a commercial basis to fulfil the underlying objectives of hosting annual international trade fairs, expos and exhibitions.

“This facility is a prime trade fair and convention complex with the potential to be one of the very best in Africa. It is located along the Lagos-Badagry Expressway, a major gateway into Nigeria from the West African coast, and has abundant land for further development,” Okoh stated.

The BPE boss said the objective of the advisory consultancy was to advise and assist the bureau in identifying and engaging a credible private sector concessionaire for the Lagos International Trade Fair Complex, adding that the prospective concessionaire must be experienced local or international operator with the technical and financial capacities.

Okoh noted that the scope of work to be undertaken by the transaction advisers, Feedback Infrastructure Services Consortium, would include the provision of an inception report and due diligence review on the complex.

The National Council on Privatisation had at its meeting on August 22, 2017 revoked the agreement that the Federal Government had signed with Aulic Nigeria Limited in 2008 for the concession of the LITFC.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

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Dangote Cement Emerges Best Performing Firm In Africa

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Prime Real Estate Development At Eko Atlantic City

The Kogi State Chamber of Commerce, Industry, Mines and Agriculture (KOCCIMA) has named the Dangote Cement Plc, Obajana Plant, as the best performing company in Africa.

The award was presented to the company in Lokoja at the weekend by the Deputy Governor of Kogi State, Chief Edward Onoja, who represented the State Governor, Alhaji Yahyah Adoza Bello, at the Annual General Meeting(AGM) of KOCCIMA.

Speaking at the occasion, the President of KOCCIMA, Mr. Victor Ibrahim, said the Dangote Cement emerged through a thorough screening process that involved 20 companies.

He said: “Our screening committee considered many criteria before Dangote Cement Plc was selected”.

According to him, the Chamber put into consideration Dangote Cement’s contributions to the state’s economy through Internally Generated Revenue(IGR), as well as its good relationship with KOCCIMA.

Mr. Ibrahim said another criterion that placed the Dangote Cement in good stead is that the company has been environmentally friendly.

“We’ve visited DCP Obajana Plant and we found it complying with global best practices when it comes to the environment. Your parking lot does not constitute any environmental danger. We also considered returns to investors, the welfare of staff, the 43km Obajana-Kabba concrete road, your good relationship with the host community and your positive image”.

He announced that the Chamber of Commerce was planning to host its Trade Fair by year-end and looking forward to collaborating with the Dangote Cement Plc.

The Deputy Governor Mr. Edward Onoja expressed the appreciation of the Kogi State Government, saying the contributions of KOCCIMA and the private sector were crucial to the development of the state.

Speaking to newsmen on the sideline of the event, representative of the Dangote Cement Plc Mr. Ademola Adeyemi said the company was elated and that the award will further spur it to continue its support to the state’s economy, KOCCIMA and Corporate Social Responsibility schemes.

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MTN Appoints Chika Ekeji as Executive Lead for Strategy and Transformation

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MTN Appoints Chika Ekeji, A Nigerian-American as Executive Lead for Strategy and Transformation

MTN Group has announced the appointment of Chika Ekeji, a Nigerian-American national as an executive to lead the strategy and transformation unit of the mobile network operator.

Chika has a Master of Engineering in Computer Science from Cornell University and an MBA from MIT.

He will be leaving from McKinsey & Company, where he led the West Africa Digital Practice and served telco, financial services, and public sector clients across Africa.

His appointment with Africa’s leading mobile operator will be effective on, 15th of March. In his new role, he will be based in SA.

“We are very pleased that Chika is joining us as we work to accelerate our strategic repositioning,” says MTN Group chief operating officer Jens Schulte-Bockum.

To support the execution of the repositioned strategy, Ekeji joins a group of other recent appointees, including the new group chief financial officer, Tsholofelo Molefe.

In recent weeks, MTN also made changes to the group’s regional structure and the executive committee.

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Union Bank Unveils Multi-Asset Trading Platform M36

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Union Bank Unveils Digital Investing Platform, M36

A new digital platform designed to deliver a wide range of investment products directly to individuals and other investors, M36, has launched in Nigeria.

Through an innovative, user-friendly app, M36 offers investment options not typically available on self-service digital platforms including foreign currency transactions, commercial papers, local and foreign-denominated bonds, treasury bills and other fixed-income products.

M36 also offers bespoke solutions for both new and experienced investors as well as a 24-hour lifestyle concierge service to meet the needs of discerning customers.

In a rapidly evolving environment with changing consumer behaviour fueled by technology and growing access to information, M36 is looking to expand opportunities for investors at all levels, while also simplifying the process of investing.

M36 was developed by Union Bank as part of its strategic focus on delivering superior customer solutions leveraging technology and innovation. The bank partnered with several asset management companies to deliver a broad range of investment products on the M36 platform.

Speaking about this, Mr. Chuka Emerole, Head, Treasury at Union Bank said, “M36 eliminates the traditional barriers to investing and offers investors direct access to financial instruments that would usually require the service of an investment or relationship manager.

“We’ve designed M36 to ensure simplicity in the onboarding and investing process while also empowering the customer to make sound investment choices based on their financial objectives.

“We worked with key partners to deliver both the experience and products on M36 and are confident that we have launched a superior product in today’s marketplace”.

With the 24-hour concierge service, M36 users can access round-the-clock support from investment advisors as they actively manage their portfolios.

The bank said the M36 was a timely financial product meant to keep abreast with the rapidly evolving environment and changing consumer behavior that is fueled by technology and growing access to information.

The M36 is also part of the UBN’s strategic focus on delivering superior customer solutions by leveraging technology and innovation. The bank partnered with several asset management companies to deliver a broad range of investment products on the M36 platform.

M36 also offers loans, personal travel allowance, will and trust services and many more essential products under its Life Essentials menu.

 

M36 is available for download on the App Store and the Google Play Store.

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