Business

Look Beyond CBN and Commercial Banks for Export Financing

Dr Aisha Olatiwon, the Director of Consumer Protection and Financial Inclusion at the CBN, made the appeal during the Bankers’ Committee’s town hall meeting in Lagos, yesterday, with the theme, ‘Enhancing the Effectiveness of Nigerian Products,’

Published

1 year ago

April 15, 2025

OCHEFA

412 Views

Photo: CBN Governor, Olayeni Cardoso

The Central Bank of Nigeria (CBN) has called on local manufacturers and exporters to explore financing opportunities available through various government agencies as part of broader efforts to ease pressure on the naira and strengthen the country’s export base.

” We have the Bank of Industry (BoI) and we also have the development financial institutions. Those people give interest rates below what the commercial banks are giving.

“So I encourage companies to go to those development institutions like the BoI, or other development financial institutions that can give them rates very far below what the banks can give.

So you don’t have to go to the commercial banks to get your funding for your business.

”She urged producers to move beyond conventional reliance on the central bank and take full advantage of interventions from other government-backed institutions established to support export-led growth.

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Business

BUA Group Denies Reports of Bid to Acquire Stake in Kano Pillars Football Club

Published

48 minutes ago

June 30, 2026

Charles Flames

11 Views

BUA Group has firmly dismissed online reports claiming that the conglomerate and its Chairman, Abdul Samad Rabiu, submitted a bid to acquire a 70% stake in Kano Pillars Football Club.

In a press statement issued on Tuesday, the company described the publication as inaccurate and misleading.

PRESS STATEMENT

Re: False Claims of Bid to Acquire Stake in Kano Pillars Football Club

Our attention has been drawn to an online publication suggesting that BUA Group and its Chairman, Abdul Samad Rabiu, have submitted a bid to acquire a 70% stake in Kano Pillars Football Club.

We would like to clarify that this report is inaccurate and does not reflect any position, action, or communication from BUA Group or Abdul Samad Rabiu. No such bid has been made, and there has been no engagement with any party on this matter.

We kindly request that this report be disregarded, and we encourage the public and members of the press to rely only on official statements issued through BUA Group’s verified channels for accurate information regarding our activities.

We appreciate the continued interest in BUA Group and thank the public for their understanding.

BUA Group reiterated its commitment to transparency and urged stakeholders to verify information through its official communication channels.

Business

Nigeria’s oil minister orders marketers to reduce fuel price

“While we believe that market forces will eventually restore equilibrium, the regulator also has a statutory responsibility to ensure that deregulation does not become an avenue for profiteering. This must be done in line with the extant provisions of the Petroleum Industry Act,”said Lokpobiri.

Published

5 hours ago

June 30, 2026

OCHEFA

17 Views

The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, at the NMDPRA General Counsel and Legal Advisers Forum, directed petroleum marketers to reduce fuel price .

At the two-day forum themed: “Beyond Compliance: Driving Regulatory Certainty and Investment Confidence in Nigeria’s Petroleum Sector, Lokpobiri noted that refiners and marketers have continued to sell petrol at elevated pump prices despite the significant decline in crude oil prices from a peak of $120 per barrel to about $72 per barrel last week.

He said: “Following de-escalation of tensions between Iran and the United States, we expected to see a commensurate downward adjustment in the prices of PMS and other petroleum products.However, that has not yet happened.”