Emzor raises N26.7bn bond to boost local drug manufacturing
By Yinka Kolawole Emzor Pharmaceutical Industries has raised a $19.8 million (N26.7 billion) Series 1 Fixed Rate Bond on the FMDQ Group Exchange, in a major move to strengthen local pharmaceutical manufacturing and complete West Africa’s first full-scale anti-malarial Active Pharmaceutical Ingredient (API) manufacturing facility. The bond, issued through Emzor’s special purpose vehicle, Emzor Pharma […]
FG inaugurates NPA, NIMASA boards, plans new port in Badagry
THERE are indications that both the Federal Government and the Lagos State Government have concluded plans to construct a mega port with a view to decongesting the Lagos ports.
CBN, NAMB agree on review of micro finance banks’ recapitalisation
The Central Bank of Nigeria (CBN) and National Association of Micro Finance Banks (NAMB) have agreed to set up a technical committee to resolve “grey areas’’ in the recapitalisation of micro finance banks
Reps to probe Destination Inspection contract
Federal House of Representative is set to probe the Destination Inspection contract between the federal government and the three service providers, Cotecna Destination Nigeria Limited, SGS and Global Scansystems.
House faults Web Fontaine over $6m monthly revenue
House of Representatives Committee on Customs has slammed Web Fontaine, which powers the Automated System of Customs Data (ASYCUDA), over inadequate provision of infrastructure at the sea port.
Escravos pilots threatens to down tools at Delta ports
MEMBERS of the Escravos Ship pilots, a group of marine pilots, have threatened to stop providing pilotage services to vessels that calles at the Delta ports following the inability of the Nigerian Ports Authority (NPA) to meet ts financial obligation to them.
New pension guidelines to boost capital market activities – Report
The new Pension guideline that allows pension fund administrators to invest part of their income in Exchange Traded Funds, ETFs, as well as global depository receipt will help in boosting activity in the capital market in 2013.
Presidency tasks Competitiveness Board to improve investment climate
President Goodluck Jonathan has charged the newly constituted Board of the National Competitiveness Council to improve the country’s investment climate and create more markets for products made in Nigeria.
Ropeways to launch cable car mass transit system
For the first time in the history of Nigeria, a cable car company, Ropeways Transport Limited, is set to launch a cable car mass urban transit system in the nation’s commercial capital, Lagos. This followed the signing of a 30-year Franchise Agreement between Ropeways Transport Limited, the Lagos Metropolitan Area Transport Authority (LAMATA) and the Lagos State Government recently.
Pensioners do not come for their benefits – President PFA
Un-accessed pension benefits under the care of Pension Fund Operators, PFAs, have continued to grow as contributors to the scheme gradually retire.
Poor service delivery threatens railway rehabilitation
The Federal Government’s effort towards rehabilitating the railway sector may not yield any positive result if the current trend of poor service delivery and management continue, Vanguard’s investigations revealed.
