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Business & Economy

UBA acts as facility agent bank in $1.5billion loan to boost oil production, government revenue

THE United Bank for Africa Plc (UBA) has acted as Facility Agent Bank for the Nigerian Commercial Banks in a consortium with other international banks in a $1.5 Billion Pre-Export Finance Facility for the Nigerian National Petroleum Corporation (NNPC) and its upstream subsidiary, the Nigerian Petroleum Development Company (NPDC). UBA is providing $200 million (Naira equivalent) to support investment growth …

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Virgin Atlantic files for bankruptcy protection in United States

UNITED Kingdom based carrier, Virgin Atlantic has filed for Chapter 15 bankruptcy protection in New York in the United States as the global airline industry reels from the coronavirus pandemic. The protection under chapter 15 of the US bankruptcy code allows a foreign debtor to shield assets in the country. The crisis-hit Airline in July received a £1.2 billion ($1.5 …

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UBA hosts MSME workshop reiterates importance of small businesses  

PAN African Financial Institution, United Bank for Africa (UBA) Plc is set to organize another MSME Workshop for entrepreneurs in its continuous bid to support the growth of Micro Small and Medium Enterprises (MSME) and equip them with the necessary tools to strengthening and sustaining their businesses. The workshop which will hold on Wednesday via Microsoft Teams, will host professionals …

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NUATE berates unruly behavior by VIPs at Nigerian airports

NATIONAL President, National Union of Air Transport Employee (NUATE), Comrade Ben Nnabue  has expressed in strong terms the union’s disapproval of the attitude of some highly placed Nigerian who use the nation’s airports stating that any culprit found  will be declared persona non grata at all Nigerian airports. In a statement issued earlier today, Comrade Nnabue stated,”The reported incident of …

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NAHCO PBT grows to N1.34bn, shares N487m divid­ends among sharehold­ers

NIGERIAN Aviation Handling Company (nahcoaviance) has said its Profit Before Tax (PBT) has grown to N1.34 bil­lion in the year end­ed December 31, 2019, representing 166 per cent increase when compared to the sa­me period in 2018. This is just as the Group explained that it has upgraded its warehouses in Lagos, Kano and Abuja airp­orts, and has began the …

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UBA Group announces appointment of Deputy Managing Directors for Nigeria, Africa

UNITED Bank for Africa Plc (UBA), the leading pan-African financial services group, has announced the appointments of Ayoku Liadi and Oliver Alawuba as Deputy Managing Directors in charge of UBA’s Nigeria and Africa businesses, respectively. The creation of the new positions, reporting to Group CEO, Kennedy Uzoka, represents further strategic recognition of the growth of UBA’s pan-African business, now representing …

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Ikechi Uko appointed member, Board of Trustees, FTAN

NIGERIAN travel business consultant, travel promoter, tourism development expert, Mr. Ikechi Uko has been appointed a member of the Board of Trustees, Federation of Tourism Associations in Nigeria (FTAN) by industry players in Nigeria. The Abia State born media consultant, journalist and author has bestridden the sub-sector like a colossus bettering every aspect he has touched with his wealth of …

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AAMON strategizes turnaround of US$1 billion aircraft maintenance cost in Nigeria

NEWLY formed Association of Aircraft Maintenance Organization of Nigeria (AAMON) says its raison d’etre protect investors in Aircraft Maintenance and Overhaul (AMO) and  demand government and stakeholders support so as to grow the business and reduce about US$1billion  capital flight expended by the country. Chairman of AAMON and Accountable Manager of 7 Star Global Hangar Limited, Engr. Isaac David Balami …

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Heritage Bank shuts branch, disinfects over suspected coronavirus case

HERITAGE Bank Plc has closed down an Experience Center- EC (branch) at Allen Avenue; Ikeja over “unconfirmed case” of Coronavirus for deep hygiene clean up after an employee took ill last week. The bank in a statement made available to the press and customers, noted “in line with our emergency response plan and following regulatory practices, we have taken immediate …

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