News

Presidency debunks report of Qatar’s rejection of Tinubu’s business deal

Published

10 months ago

February 25, 2024

By Francesca Hangeior

The Presidency has debunked reports that the Government of Qatar ‘snubbed’ President Bola Tinubu on plans to embark on a State Visit to the country.

A correspondence between the Embassy of the State of Qatar in Abuja and the Nigerian Federal Ministry of Foreign Affairs, about the state of preparedness for a business sidelines meeting, had been leaked to the public and been misrepresented in the media to mean President Tinubu’s visit had been rejected by the Qatari government.

However, explaining in a statement, the Special Adviser to the President on Information and Strategy, Bayo Onanuga, the Presidency said the State Visit by President Tinubu is on the invitation of the Emir of Qatar, Tamim bin Hamad Al Thani.

It further explained that the controversial ‘snub’ report was a misrepresentation of the correspondence over a planned business event between the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) and Qatar’s Chambers of Commerce and Industry where business people from Nigeria will engage.

“We are aware of leaked diplomatic correspondence between the Embassy of the State of Qatar in Abuja and our Ministry of Foreign Affairs regarding President Bola Ahmed Tinubu’s state visit to Qatar between 2 and 3 March 2024.

“The leaked diplomatic paper by mischief makers about an investment forum is not in any way a snub of President Tinubu by the Qatari government.

“The Note Verbale is about a private sector-led Business and Investment Forum to be held on the margins of President Bola Tinubu’s State Visit.

“The event is being put together by the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) and Qatar’s Chambers of Commerce and Industry where business people from Nigeria will engage their counterparts from Qatar on commercial and investment opportunities available in both countries.

“We note the strong bilateral relationship between our two countries and affirm that the State Visit by President Bola Tinubu to Qatar is on the invitation of the Emir of Qatar, His Highness, Sheik Tamim Bin Hamad Al-Thani.

“The State Visit is particularly aimed at strengthening the bilateral economic cooperation between Nigeria and Qatar.

“NACCIMA and Qatar Chambers of Commerce and Industry are collaborating to take advantage of President Tinubu’s visit to Doha to mobilise the business community from our two countries to explore opportunities in key economic sectors such as oil & gas, manufacturing, agro-business, construction, real estate, ICT, Renewable Energy, Solid Minerals and service sector, among others.

“President Tinubu is expected to proceed to Qatar on the State Visit as scheduled and during the visit, the Nigerian leader will engage in high-level bilateral discussions with the Qatari leader on many important matters, covering the full range of diplomatic and economic issues.

“It is not correct for anyone to insinuate that the Qatari authorities have snubbed the Nigerian leader over a business and investment forum, which is tangential to the all-important State Visit and which President Tinubu is slated to attend as a guest.

“President Tinubu and His Highness Al-Thani are both committed to maintaining and building on the existing cordial and special relationship between Nigeria and the State of Qatar,” the statement said.

News

Arewa Christians Association Salutes Nigerians At Christmas

Published

28 minutes ago

December 26, 2024

Gloria Ikibah

…urge President Tinubu, governors to be more humane in their policies

By Gloria Ikibah

The Arewa Christians and Indigenous Pastors Association (ACIPA) has congratulated Nigerians as they mark the birth of Jesus Christ, Saviour of the world.

In a statement by ACIPA Chairman, Rev. (Dr) Luke Shehu, on Wednesday, he urged President Bola Tinubu and state governors to be more compassionate and humane in their policies, decisions and utterances.

The statement reads: “Ours is a faith beyond hope or religion. A faith for fulfilled individual and corporate destiny fulfillment. Therefore, with the audacity of our faith we wish ALL a Merry Christmas and prosperous New year.

“As we celebrate Christmas and mark the New year with an audacious faith working to make Nigeria greater, we call on Mr. President, Bola Ahmed Tinubu and our governors to be more compassionate and humane in their policies, decisions and utterance.

“ACIPA is aware that the removal of subsidy was a necessity that was long overdue in view of the corruption surrounding the oil industry in Nigeria.

“While appreciating the President, that for the first time in years, Nigerians have not experienced the hardships associated to petroleum scarcity associated to Christmas and the Muslim Sallah celebrations. We therefore commend the President and call on him to sustain the tempo while maintaining the momentum at the war against corruption and total annihilation of terrorist so that our soldiers can go back to their barracks.

“As we journey in the path to fulfillment of our destiny, we wish to draw attention of Mr President and all governors as captains of the ship to be aware of many Jonahs that may lead to the capsizing of the nation or states ship. If the Jonahs’ in our ship(s) can not recuse themselves or asked to be thrown out, then certainly the captains, crew and passengers need to take a lot and throw the Jonahs out.

“In the years ahead as we journey along our path to destiny as a great nation on earth, we can not afford backlog of liabilities who are often political croonies in governance as a result of personal allegiances or family ties. This is unacceptable especially where such croonies are counter productive or a cog in the the wheel of our nation and states. Leadership requires courage and audacious pragmatism.

“Once more, ACIPA wishes ALL Nigerians a secured, blessed Merry Christmas and a prosperous New year”, he added.

News

Access Bank Becomes First to Meet CBN’s Minimum Capital Requirement with N351bn Rights Issue

Published

1 hour ago

December 26, 2024

Gloria Ikibah

By Gloria Ikibah

Access Holdings Plc has announced the successful completion of its Rights Issue, raising N351,009,103,017.25 through the issuance of 17,772,612,811 ordinary shares at N19.75 per share.

This achievement follows full regulatory approvals from the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC).

With this milestone, Access Bank Plc, the flagship subsidiary of Access Holdings, is the first bank to meet the CBN’s N500 billion minimum capital requirement for banks with international authorisation, well ahead of the March 2026 deadline. The bank’s share capital now stands at N600 billion, exceeding the regulatory threshold by N100 billion.

This marks a significant achievement as Access Holdings is the first CBN-licensed financial holding company to execute a fully digital Rights Issue. The process utilised the Nigerian Exchange Group’s E-offer platform to provide shareholders with a seamless and efficient subscription experience, enhancing accessibility and participation.

Speaker on the development, the Holding Company’s Chairman, Aigboje Aig-Imoukhuede, highlighted the innovation and leadership demonstrated by the institution. Further details from the statement emphasize the bank’s commitment to leveraging technology to drive growth and improve shareholder value.

He said: “The Access brand has always resonated strongly with local and international capital markets. Since 2004, Access Bank has raised billions of dollars in capital to meet successive CBN recapitaliation directives. We are pleased that this time, we are the first to cross the finish line.

“The success of the Rights Issue demonstrates the resilience of Nigeria’s capital market and reinforces our shareholders’ confidence in the present value and potential of our company.

“We deeply acknowledge the invaluable and strong support of the Central Bank of Nigeria and the Securities and Exchange Commission, who both played crucial roles in ensuring the integrity and efficacy of our Rights Issue exercise.

“We are also grateful to our valued shareholders, whose loyalty to the Access brand and vision for over 22 years has been most inspiring and unwavering. As we enter the new year, we are well-positioned to leverage our enhanced capital base to deliver sustainable value for our stakeholders.”

Access Holdings Plc operates through a network of more than 700 branches and service outlets, spanning three continents, 23 countries, and over 60 million customers.

The company serves its markets through four subsidiaries in banking, payment, pension administration, and insurance sectors: Access Bank Plc, Hydrogen Payment Services Company Limited, Access Pensions Limited, and Access Insurance Brokers Limited.

Access Bank Plc serves its markets through three business segments—Corporate and Investment, Commercial, and Retail—and has enjoyed Africa’s most successful banking growth trajectory in the last 22 years.

Following its merger with Diamond Bank in March 2019, Access Bank Plc became one of Africa’s largest retail banks by customer base and Nigeria’s largest bank by total assets.

News

I’m optimistic about Nigeria’s future, says Shettima

Published

2 hours ago

December 26, 2024

Kayode Sanni-Arewa

Vice President Kashim Shettima has expressed optimism about Nigeria’s future, reaffirming the commitment of the Federal Government to national security, economic transformation, and the well-being of all citizens.

In a Christmas message on Wednesday, Shettima assured Nigerians that the administration of President Bola Tinubu is resolute in its efforts to tackle critical issues such as security and economic challenges, as the country prepares for the coming year.

“As we approach a new year, I want to reassure you that President Tinubu’s administration remains fully dedicated to improving the lives of all Nigerians. We are committed to tackling economic transformation and enhancing the welfare of every citizen,” Shettima said.

Highlighting Nigeria’s diversity as a strength, the Vice President called on Nigerians to use the festive period to strengthen unity across all regions and faiths, fostering a spirit of togetherness.

“Our nation’s greatest strength lies in its diversity. This holiday season offers us the perfect opportunity to strengthen the bonds of brotherhood that unite us,” he stated.

Shettima also assured Nigerians of the continued vigilance of the nation’s security forces, emphasising that security personnel would remain on high alert during the holiday period to ensure safety.

“Our brave security personnel will continue to work tirelessly to protect us. Enhanced security measures are in place to safeguard citizens during the festive season,” he said, urging travelers to stay vigilant.

Looking to the future, Shettima expressed hope and confidence in the country’s trajectory.

“I am filled with hope and optimism about Nigeria’s future. Together, we will build a more prosperous and united nation,” he said.

Addressing the nation’s youth, Shettima emphasised their crucial role in Nigeria’s development and outlined the government’s initiatives aimed at creating opportunities for them.

“To our young people, you are the backbone of our nation. The Renewed Hope administration is rolling out various initiatives to empower you, enabling you to thrive and contribute to Nigeria’s growth,” Shettima said.