Business

Atiku Gets Invitation to Speak at African Trade and Investment Global Summit in Washington DC

Published

6 years ago

June 18, 2018

Eric

Members of the ruling party and President Muhammadu Buhari’s die-hard supporters may be in for a disappointment as one of their greatest rivals— Atiku Abubakar— has been invited to speak at the forthcoming African Trade and Investment Global Summit (ATIGS) scheduled to take place in Washington DC, the United States capital.

The event starts on June 24 and ends on June 26.

Abubakar will speak alongside African Union Ambassador to the US, Arikana Chihombori-Quao, and former Ambassador of Trinidad and Tobago to the US, Mexico and the Organisation of American States, Neil Parsan.

Deputy Senate President of Nigeria, Ike Ekweremadu, will also speak at the event, alongside Minister of Industry, Trade and Investment, Okechukwu Enelamah.

ATIGS is a biennial event that hosts African and international investors in Washington DC. Discussions at ATIGS shape the policies of African countries and their partners.

This year’s event will welcome the participation of prominent officials and distinguished personalities, accredited investment firms, high-level speakers, quality exhibitors, and delegation groups from over 70 countries.

There have been calls in recent times for Abubakar, the presidential aspirant on the platform of the Peoples Democratic Party (PDP), to visit the US if he is free of corruption.

But Abubakar has often responded that he has applied for US visa before but was refused by the US Embassy.

Abubakar is accused of being indicted by the United States of America’s Senate Committee on Homeland Security and Governmental Affairs in a report entitled, ‘Keeping Foreign Corruption Out of the US: Four Case Histories’.

Abubakar, who is expected to run for president in 2019, said in an interview with The Boss newspaper that he had made an attempt to visit the U.S. but was refused visa on administrative grounds.

“I applied, but wasn’t issued a visa. However, they did not decline me categorically either. They’ve only said my application is going through administrative process,” Abubakar had said.

He had pointed out that it was the sole prerogative of America to determine who they wanted in their country, adding that such administrative denials were not unique to him.

He stirred the hornet’s nest when he said Muhammadu Buhari could not also visit the US for 15 years because of his religious views.

This elicited reactions from Buhari’s supporters who saw Abubakar as a drowning man clinging to straw.

The US embassy could not be reached before the publication of this story.

However, this invitation may change the country’s political climate and may curry support for Abubakar, who, like Buhari, has contested the presidential seat many times.

“If he attends, that will be a big plus for him,” said a top PDP member, who did not want his name in print because of the sensitivity of the matter.

“He is a candidate to beat, and will gain more support once he steps his feet on US soil. But how are we sure it is not a bait to arrest him over there?” the source asked.

An APC stalwart in Abuja said he would remain calm now until Abubakar is found in the US.

“Who told you he will go?” he asked.

“He will send a representative as I am not sure the US will give him visa.”

BusinessDay

Business

FirstBank Appoints New MD/CEO, Alebiosu

Published

3 days ago

April 22, 2024

Eric

First Bank of Nigeria has appointed Olusegun Alebiosu as its new Managing Director with effect from April 2024.

The Bank stated this in a release signed by its acting company secretary Adewale Arogundade.

Alebiosu takes from Adesola Adeduntan, who resigned abruptly on Saturday with eight months left to complete his tenure in December 2024.

The release stated that “following the resignation of the managing director/CEO of FirstBank, Dr. Adesola Adeduntan, the Board of Directors has appointed Olusegun Alebiosu as the acting CEO of the 130-year-old institution.

“The appointment takes effect immediately and is subject to the approval of the Central Bank of Nigeria.”

The release stated that Alebiosu was until this appointment the executive director, chief risk officer and executive compliance officer since January 2022. Prior to that, he was the Group executive/ chief risk officer, a position he held since 2016.

“Alebiosu brings to the executive management of FirstBank over 28 years’ experience in the banking and financial services industry with cross-functional exposure to Credit risk management, Financial planning and control, Credit and marketing, Trade, Corporate and commercial banking, Agriculture financing, Oil and Gas, Transportation (including Aviation and Shipping) and Project financing.”

It added that the new acting MD/CEO commenced his professional career in 1991 with Oceanic Bank Plc (now EcoBank) and prior to joining FirstBank in 2016 served as Chief Risk Officer at Coronation Merchant Bank Limited, Chief Credit Risk Officer at African Development Bank Group and Group Head, Credit Policy & Deputy Chief Credit Risk Officer at United Bank for Africa Plc.

“He is an alumnus of Harvard School of Government and holds a Bachelor’s degree in Industrial Relations and Personnel Management. He also obtained a Master’s degree in International Law and Diplomacy from the University of Lagos and holds a Master’s degree in Development Studies from the London School of Economics and Political Science.

“He is a member of various professional bodies namely, Fellow, Institute of Chartered Accountants (FCA), Associate, Nigeria Institute of Management (ANIM), Chartered Institute of Bankers of Nigeria (CIBN) and Member, Nigeria Institute of International Affairs.”

Business

Again, Naira Slumps Against Dollar, Trades at N1,169/$1 in Official Window

Published

4 days ago

April 20, 2024

Eric

The Naira, on Friday, slumped for the second consecutive day against the American dollar at the official window trading at N1,169/$1, according to data from the Nigerian Autonomous Foreign Exchange Market (NAFEM).

At the end of trading on Friday, the Naira lost N15 against the dollar when compared to the previous exchange rate of N1,154/$1 on Thursday, April 18, 2024.

The intra-day high and low recorded during the day were N1,236/$1 and N1,021/$1 respectively, representing a lean spread of N215/$1.

Similarly, the Naira slumped against the dollar at the parallel market for the second consecutive day to trade at N1,150/$1 representing a loss of N50 when compared to the N1,100/$1 it traded the previous day.

The British Pound also slumped against the Naira by N50 to trade at N1,500/£1 as against the previous trading price of N1,450/£1 representing a loss of N50 for the local currency,

The Canadian dollar however closed flat against the Naira to trade at N1,000/CA$1 same as the previous trading day rate of N1,000/ CA$1.

The Euro also slumped against the Naira to trade at N1, 280/€1 as against the rate of N1,200/€1 the previous trading rate indicating a gain of N80 in the European currency.

Business

Glo Launches New Internet Solution Products for Homes, Businesses

Published

2 weeks ago

April 8, 2024

Eric

Two new products, which provide internet connectivity solutions specially designed for Residential and SME commercial customers, have been unveiled by digital solutions company, Globacom.

The products, Fibre to the Home (FTTH) and Fibre to the Business (FTTB) were packaged for Glo customers to enjoy reliable and high speed internet through linked fibre services.

Globacom said in a statement in Lagos “With these services, businesses and homes can access dedicated internet speeds of up to 1GBps, allowing unlimited internet usages for seamless video calls, video and music streaming and a whole lot of other dedicated usages to promote business success and equally provide endless entertainment for homes”.

It explained that the new product comes with a unique opportunity for “Residential Estates, High Rise Apartments, Commercial SME Estates to enjoy dedicated high speed internet in their cluster”.

These services, according to Globacom, give exceptional experience and unmatched speed for users at home or in offices and are provided through hi-speed fibre – unlike copper which was being used in the past.

Positioning itself as the premier provider of innovative solutions for businesses of all sizes, Globacom assured customers of the best value for money with the new offerings, adding that users who sign on for these services will also enjoy fully dedicated bandwidth.

“We are committed to delivering the most cost-effective data connectivity experience for homes and businesses in addition to providing dedicated and reliable services.” Globacom concluded.