Business

Int’l Awards Spurs BoI For More Innovation, Works

Published

3 years ago

June 17, 2023

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The Managing Director of the Bank of Industry (BoI), Mr. Kayode Pitan says, the awards and recognitions, 20 of them won by the bank in the last six years, “Do not only show a demonstration of commitment and innovativeness that has improved the bank’s fortunes, but also serve as positive reinforcement for more work.”

Pitan stated this while reacting to the EMEA Finance magazine Achievement Awards for 2022 in June 2023, won by the bank.

He said : ” The bank won the Best Financial Institution Syndicated Loan in EMEA (Bank of Industry’s €1 billion loan) and the Best Financial Institution Bond in Africa (Bank of Industry’s €700million debut 144a/Regs Senior Issuance, later increased to €750million).

” The bank also won the Best Development Bank of the Year-Africa and the Best Commitment to ESG Principles-Nigeria at the International Banker, 2023 Banking Awards held in London, United Kingdom in May, 2023.

The International Banker Awards 2023 was established to recognise top-ranking individuals and organisations setting new benchmarks for performance and pushing the boundaries within the financial industry,” he said.

Business

WEF could appoint Lagarde as its next chair, sources say

The WEF’s Board of Trustees, which includes Lagarde herself, was due to meet on November 2 and could elect her as its next chair, said the people close to the organisation, who spoke on condition of anonymity due to the sensitivity of ⁠the matter.

Published

5 hours ago

October 15, 2026

OCHEFA

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•European Central Bank President Christine Lagarde

The World Economic Forum could appoint Christine Lagarde as its next chair as soon as next month, four people close to the organisation told Reuters, meaning she would step down early as European Central Bank chief and trigger a wider ‌reshuffle at the top of the ECB.Lagarde’s ECB term is scheduled to end in October 2027.

Leaving early would give European Union leaders a chance to pick a new ECB President before France’s spring presidential election, which opinion polls suggest the far-right could win, and could pave the way for a deal involving two other senior ECB roles.

No final decision has been taken yet, they said.

A spokesperson for the WEF said the forum could not confirm when the next full Board of Trustees meeting would take place, but that the aim was to hold one before the end of the year.

Business

Germany plans tax on sugary drinks

The tax is expected to generate additional revenue for the federal government of €690 million in 2027 and €925 million in 2028.

Published

5 hours ago

October 15, 2026

OCHEFA

15 Views

The German cabinet has approved draft legislation to tax sugary drinks in Europe’s biggest economy.

If passed by the German Bundestag, the tax will take effect on 1 July 2027.

The coalition aims to raise revenue for the federal budget while encouraging manufacturers to reduce sugar content and offer healthier products.

The levy is intended to ease pressure on the healthcare system, which faces costs of more than €2 billion every year linked to the high consumption of sugary drinks, which contributes to obesity, diabetes and tooth decay.

According to the federal government, Berlin is using the tax to implement “what associations from the fields of health, science, child protection, and consumer protection have long been demanding.”

The tax is expected to generate additional revenue for the federal government of €690 million in 2027 and €925 million in 2028.