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BUA Group, one of Nigeria’s largest conglomerate, on Tuesday unveiled its 1billion dollars Obu Cement factory in Okpella, Edo state at a commissioning ceremony performed by Vice President Yemi Osinbajo. During the ceremony, the Vice President also performed the groundbreaking of a 3million metric tonnes second line within the same complex. In attendance at the event were the Governor of Edo state, Godwin Obaseki; the Governor of Kano state, Dr. Abdullahi Umar Ganduje; Immediate Past Governor of Edo State, Comrade Adams Oshiomhole; Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah; Hon. Minister of Agriculture and Rural Development, Chief Audu Ogbeh; the Emir of Kano, HRH Lamido Sanusi II; the Edo State Deputy Governor, Philip Shaibu, CEOs and Captains of Industry amongst other dignitaries Speaking at the ceremony, the Chairman/Chief Executive Officer, BUA Group, Abdulsamad Rabiu said the commissioning of the over US1billion complex comprising of the 3 million tonn...

Zenith Bank Plc, sponsors of the annual National Women League, on Monday congratulated Nigeria’s female team, D’Tigress, winning the 2017 FIBA Women AfroBasket which ended in Bamako, Mali at the weekend. D’Tigress achieved the remarkable feat in style by beating the defending Champions, Senegal, 65-48 in the final match to earn Nigeria her third title in the competition which was the 23rd edition. Incidentally, Senegal has won the competition 11 times. Nigeria also won the event in 2003 and 2005. The Group Managing Director of Zenith Bank, Peter Amangbo, on Monday showered praises on the players for going all the way to make Nigerians proud. He said: “It was a sweet victory for the Nigeria. As sponsors of the national women league, Zenith Bank is a major stakeholder in the sport and we are happy with the feat achieved by D’Tigress “We salute the hard work and determination of the players and officials of the team especially because they won all their matches in the competition.” The...

The Economic and Financial Crimes Commission is after the Managing Director of Heritage Bank Plc, Ifie Sekibo, who has allegedly ignored a series of invitations from the commission. Impeccable sources at the EFCC told our correspondent that Sekibo was invited for his role in the alleged diversion of N13bn belonging to the Oyo State Government. The source said the money was lodged in some secret accounts in the bank in connivance with some top state government officials. However, the state government said it had no knowledge of such allegation. A top source at the anti-graft agency said, “We recently got information about some suspicious accounts in Heritage Bank. We believe the funds in the accounts are part of the proceeds of crime, particularly money laundering and outright diversion of public funds. “We received intelligence reports from some concerned citizens that the money, which is about N13bn was diverted from Oyo State between 2014 and 2015 and the money...

The Economic and Financial Crimes Commission (EFCC) has frozen over N8, 627,458,773.36 billion in three accounts of Hajiya Muinat Bola Shagaya, an associate and friend of a former First Lady, Mrs. Patience Jonathan. Shagaya’s relationship with about 10 firms/account names are also being investigated by the anti-graft agency, The Nation learnt yesterday. But Shagaya, who did not hold any public appointment during the administration of ex-President Goodluck Jonathan, has dragged Unity Bank to the High Court of Lagos State for allowing the EFCC to Post No Debit (PND) on her accounts without a valid court order. She says the action taken on her accounts violates Section34 (1) of the EFCC Act, 2004. Besides, the withdrawal ban placed on one of her accounts has prevented her from defraying N514, 800,000 incurred as cumulative costs in the course of an Aircraft Lease Agreement of a bombardier Jet, according to documents which Shagaya filed and deposed to at the Court alongside wit...

Like the proverbial merchant of Sicily, driven by lust for inordinate riches, Adebayo Adelabu, the Deputy Governor of CBN, nurtured no inhibitions in his pursuit of riches, unearned riches to be precise. This explains his willingness to play ball with former petroleum minister, Diezani Alison-Madueke, in grand plot financial felonies. Adebayo Adekola Adelabu following his interrogation and admission to administrative bail by anti-graft agency, Economic and Financial Crimes Commission (EFCC), for abuse of office and role in the alleged siphoning of shareholder funds via phoney loans at First Bank Plc, where he previously served as Executive Director and Chief Financial Officer. Sources with knowledge of the development told us that investigators believe that Adelabu, who is presently serving as one of the Deputy Governors at the Central Bank of Nigeria (CBN), allegedly connived with former GMD of the bank, Olabisi Stephen Onasanya and a top and popular businessman who is a...

Zenith Bank is to partner with ReadAmana to encourage participation by more students in the annual Microsoft Office Specialist Championship, Group Managing Director, Peter Amangbo has said. Speaking in Lagos on Tuesday while receiving the Nigerian contingent to the 2017 edition of the Microsoft Office Specialist World Championship (MOSWC) held in Disneyland, California, USA, Amangbo said the bank was encouraged by the performance of the team and would work with the Nigerian organisers to enlarge the competition. Katherine Eta of Childville School, Ogudu, Lagos last week emerged the third place winner in the keenly contested 2017 World Championship, the only African winner in the competition. Nigeria was represented at this year’s championship with the support of Zenith Bank Plc. by Katherine, Husna Bello, Glisten International Academy, Abuja, FCT; Ogon Holdings, Deeper Life High School, Port Harcourt, Rivers State; Adeniran Oluwatamilore, Louisville Girls High School, Ijebu-Ode, Ogu...

Pandemonium ensued in the Niger State House of Assembly on Wednesday after hundreds of pensioners took over the Assembly complex, demanding the payment of their pensions and gratuities. This came as the legislators, within three hours, passed into law the amended law establishing ‘A Contributory Pension Scheme for Employees in the Public Service of Niger State and for Other Related Matters Connected Therewith.’ During the protest, the Public Relations Officer, New Pensioners Association, Chanchaga Local Government Area, Liman Chado, collapsed. It took other pensioners and security men about two hours to revive Chado, who was thereafter rushed to a hospital for medical attention. PUNCH Metro learnt that the PRO could have slumped from exhaustion. The pensioners vowed to remain within the Assembly complex until their demands were met. The House, after a three-hour debate at its 28th sitting, passed the amended bill which expunged the provision that exempted permanent secr...

Award winning Nigerian schoolgirl, Katerine Eta, has challenged other students to see failure as a call to put in more efforts rather than an excuse to quit. Katherine of Childville School,

Katherine Eta of Childville School, Ogudu, Lagos has emerged the third place winner in the keenly contested 2017 Microsoft Office Specialist World Championship (MOSWC) held in Disneyland, California, USA. Katherine, whose attendance at this year’s championship with support from Zenith Bank Plc., is the only African Champion in this year’s championship. The bank has partnered with ReadAmana, organisers of the competition in Nigeria since 2007 and sponsored Nigerian winners’ participation in the World championship. For her effort, sixteen year old Katherine, whose attendance at the competition was made possible by Zenith Bank, received $1,500, a NuVision Solo 10 Draw Tablet at the world championship and another N750,000 ReadManna Chairman’s Prize. Wai Feng Cheng (Hong Kong) and Chi Kei Leong (Macao) came first and second respectively. The annual Microsoft Office Specialist World Championship is a global competition that tests student’s skills in Microsoft Word, Excel and Po...

The management of Skye Bank Plc has written to Acting President Yemi Osinbajo detailing how Tunde Ayeni, chairman of the bank between 2010 and 2016, allegedly used his position to take huge loans from the bank. But TheCable understands that Ayeni has started repaying the loans — insiders said he paid $10 million to Skye Bank last week and also pays $4.5 million quarterly towards for the facilities he took for the Ibadan and Yola DisCos in line with the restructuring agreement with the consortium of lenders. Ayeni is also on the verge of securing a $200 million foreign investment, part of which is meant to pay off Ntel’s indebtedness to banks. TheCable further understands that Ayeni and the management of Skye Bank have lately been holding meetings to resolve the issues raised in the letter to Osinbajo. In a series of letters and documents seen by TheCable, the management alleged that Ayeni paid for the public companies he bought with loans from the bank. Af...