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Saturday, July 4, 2020

MTN making progress to resolve $10.1 bln dispute with Nigeria – CEO

Brooklyn NY, Nov 13 - South Africa’s MTN Group is making progress in resolving a $10.1 billion funds repatriation and tax bill depute with Nigerian authorities, its CEO said on Tuesday. “I believe we are making steady progress towards finding a resolution,” Rob Shuter...

UPDATED: Nigeria’s Diamond Bank refutes Access Bank merger or acquisition talks

ABUJA - Nigeria’s Diamond Bank is not in merger or acquisition talks with any institution after saying it was aware of speculation that rival Access Bank plans to acquire it, the mid-tier lender said on Monday. Meanwhile Access Bank Plc and Diamond Bank...

UPDATED: Teleology takes over 9-mobile with 15.36 million subscribers

Nigeria’s telecoms regulator has cleared Teleology’s takeover of 9mobile, the country’s fourth biggest operator, ending a long bidding process for the debt-laden company that started a year ago, Teleology said on Monday. Investment holding company Teleology, which was set up by 12 telecoms industry veterans...

Nigeria’s Diamond Bank denies report of offers of cash from investors

By Chijioke Ohuocha ABUJA, Nov 9 - Nigeria’s Diamond Bank said on Friday that no investors had come forward to inject cash into the company and that its board was reviewing all strategic options. The bank’s comment comes after it said last month that four...

CBN meets MTN, banks over $8 bln fund transfer -source

LAGOS/ABUJA, Nov 8 - Nigeria’s central bank plans to meet four lenders of telecoms company MTN to discuss a dispute over a $8.1 billion fund transfer, after a court adjourned the case, a banking source said. The central bank emailed invitations on Thursday to the...

UPDATED: Kenya’s ARM Cement in-talks with Dangote Cement over potential deal

By Chijioke Ohuocha ABUJA, Nov 8 - Dangote Cement has been approached about a potential transaction by advisers to debt-laden ARM Cement, which went into administration in August, a source with direct knowledge of the matter told Reuters. ARM Cement, once Kenya’s second-largest cement maker, owes...

EFG-Hermes expects approval for Nigeria Investment License this week

Egyptian company to add 5 people to Lagos regional hub Frontier unit CEO Ali Khalpey speaks in interview in Dubai EFG-Hermes Holding SAE expects to obtain an investment-banking license in Nigeria as early as this week and plans to hire five people in Lagos this year. “We’ve...

Chevron Reinforces its Commitment to Socio-Economic Development of Nigeria

Lagos, October 31, 2018: Chevron Nigeria Limited (“CNL”), operator of the joint venture between the Nigerian National Petroleum Corporation (“NNPC”) and CNL (“NNPC/CNL JV”), has signed a Side Letter to the 2011 Gas Sale and Aggregation Agreement (“GSAA”) with Egbin Power Plc (“Egbin”)...

Nigeria’s NNPC signs crude-for-product swap deal with BP

Lagos Nigeria, Nov 1 (Naija247news) - Nigeria’s state oil firm NNPC said it had signed a crude-for-product swap deal with oil major BP. In its brief statement on Twitter late on Wednesday, NNPC said more details would be provided later. BP and NNPC did not...

Petrobras to sell stake in Nigeria unit to Vitol-led group for $1.5 bln

SAO PAULO, Oct 31 - Brazil’s Petroleo Brasileiro SA will sell its 50 percent stake in a Nigerian oil and gas exploration venture to a consortium led by top oil trader Vitol for $1.53 billion, the latest step in the state-controlled oil company’s debt...
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