Nigeria Today: Top 10 News Stories You Shouldn’t Miss

1. On Monday, Small and Medium Enterprises (SMEs) in the country received a major boost following the announcement of the Bank of Industry’s (BOI’s) partnership with 10 banks to tackle their funding  challenges. The banks are Access Bank Plc, Diamond Bank Plc, Ecobank Nigeria Limited, Fidelity Bank Plc, First Bank Nigeria Limited, First City Monument Bank Limited, Skye Bank Plc, Stanbic IBTC Bank, Standard Chartered Bank Limited and the United Bank for Africa Plc. 2. Kaduna Disco to roll out 80,000 meters yearly, the Managing Director of the company, Haruna Garuba disclosed last week during the Nigerian Electricity Regulatory Commission, NERC, public consultation on electricity metering in Kaduna. 3. Ecobank has said it was recently adjudged the  “Investment Bank of the Year – Nigeria,” in the Wealth & Finance International Magazine Finance Awards 2014. 4. First Bank of Nigeria Limited has again pledged support for the Calabar Carnival 2014, the month-long platform for showcasing Nigeria’s rich heritage. 5. Landmark University, in Omu-Aran, Kwara State says it has successfully converted waste materials from its environs to an alternative fuel product that is currently used to power a generating set in the school. 6. It has been announced that President Goodluck Jonathan will next year approve commencement of work at three coal-fired power plants located across the country, Minister of Power, Prof. Chinedu Nebo has disclosed. 7. The Bank of Industry (BoI) yesterday, signed a memorandum of understanding with 10 deposit money banks on new frameworks to support the SME sector. 8. Shell Nigeria Exploration Production Company, SNEPco, has donated two school buses and renovated a clinic at the Save Our Soul (SOS) Children’s Village in Isolo, Lagos. 9. The World Bank has pledged $7 billion to support the country’s Power Sector Reform. The support, which is to span a period of four years, was disclosed by the bank’s Country Energy Task Team Leader for Nigeria, Mr. Eric Fernstrom, at a capacity building programme on post-privatisation monitoring for the power sector jointly organised by the World Bank and the Bureau of Public Enterprises (BPE). 10. Skye Bank on Friday took full control of Mainstreet Bank Limited after a completion meeting where the Asset Management Corporation of Nigeria (AMCON), divested its interest and transferred full ownership of the Bridge Bank to Skye Bank. This is coming after it successfully paid 100 per cent of the acquisition value and received regulatory clearance as its new owner.  

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This article was first published on 23rd December 2014

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