Business
Tijjani Borodo Takes Over at IoD As President
Alhaji Tijjani Mohammed Borodo, has emerged as the President and Chairman of Governing Council of the Institute of Directors Nigeria (IoD Nigeria).
This followed the expiration of the tenure of Office of Dr. Mrs. Ije Jidenma, after she’d meritoriously served the Institute in the same capacity for two years.
The premier corporate governance Institute and a leading promoter of ethical professional standards in Nigeria, has elected Alhaji Tijjani Mohammed Borodo, LLM, F.IoD as President and Chairman of Governing Council,
In a statement, Mr. Dele Alimi, Director General/ Chief Executive Officer of IoD Nigeria said that Borodo to will steer the ship of the Institute and take charge of its affairs for the next two years.
“Alhaji Borodo emerged as President after a duly conducted election at the Institute’s 39th Annual General Meeting held on Thursday 22nd June 2023 at the Institute’s Secretariat, Ikoyi, Lagos,” he said.
He continued that Alhaji Borodo, a Fellow of the Institute of Directors Nigeria, a distinguished lawyer and the pioneer Company Secretary of FBN Holdings Plc., is an astute boardroom executive who has served the Institute previously in various capacities such as First Vice President, Second Vice President, Chairman, Finance & General-Purpose Committee, Chairman, Membership and Branch Development Committee and Honorary Legal Adviser among others.”
The Director -General added: “Indeed, we are very pleased as Alhaji Tijjani Borodo assumes the role of President of IoD Nigeria. As a previous office holder and Council Member of the Institute, he had brought his extensive knowledge and experience to bear and has provided inspirational leadership and direction for the success of the Institute.
His emergence as the President will enhance the Institute’s role as the leading corporate governance advocate, promoting sound ethical standards.”
Profile
Alhaji Tijjani Borodo, is the Founder and Principal Partner at Tijjani M. Borodo & Associates Law Firm and an accomplished Board Executive of repute.
He is a member of the Nigerian Bar Association, member of International Bar Association (IBA) and an Alumnus of the prestigious Ahmadu Bello University, Zaria and University of Essex, United Kingdom.
He is also an Independent Non-Executive Director at Cowry Asset Management Limited, Signature Bank Limited and Sanlam Life Insurance Nigeria Limited.
Business
Flutterwave buys Mono for $40 million
Under the deal, Mono will continue to operate as an independent product, with no changes to its leadership or operations.
• Flutterwave Nigeria HQ, Lagos
Flutterwave, Africa’s largest fintech company, has acquired Nigerian open banking startup Mono in an all-stock transaction valued between $25 million and $40 million.
The acquisition brings together two major fintech infrastructure players as Flutterwave looks to strengthen its payments stack with open banking, data, and identity capabilities.
Under the deal, Mono will continue to operate as an independent product, with no changes to its leadership or operations.
The transaction allows Mono’s investors to at least recoup their capital, with some early backers reportedly recording returns of up to 20x.
(Nairametrics)
Business
Venezuela: Crude prices edge lower following Maduro’s overthrow
CNBC reports that U.S. crude oil fell 31 cents, or 0.54%, to $57.01 per barrel. Global benchmark Brent fell 22 cents, or 0.36%, to $60.53 per barrel.
• An oil-themed mural in Caracas, Venezuela
Crude oil prices edged lower Sunday, as the overthrow of President Nicolas Maduro by the Trump administration has cast deep uncertainty over oil-rich Venezuela.
Venezuela, a founding member of OPEC, sits on the largest proven crude oil reserves in the world at 303 billion barrels or about 17% of the global total, according to the U.S. Energy Information Administration.
CNBC reports that U.S. crude oil fell 31 cents, or 0.54%, to $57.01 per barrel. Global benchmark Brent fell 22 cents, or 0.36%, to $60.53 per barrel.
President Donald Trump made it clear Saturday that U.S. investment in Venezuela’s oil sector is a key objective of the regime change operation that ousted Maduro.
“We’re going to have our huge United States oil companies — the biggest anywhere in the world — go in, spend billions of dollars, fix the badly broken infrastructure, the oil infrastructure,” Trump said in a press conference from his Mar-a-Lago residence in Palm Beach, Florida.
The president said Saturday that the U.S. embargo of Venezuelan oil remains in place.
Business
MAN woos CBN, MOF for manufacturing refinancing facility
The Director -General of MAN, Segun Ajayi-Kadir, made the call for the facility in a report on the manufacturing outlook for 2026.
Cover image: MAN
The Manufacturers Association of Nigeria (MAN) has called on the monetary authorities ( CBN and MOF) to introduce a Manufacturing Refinancing and Rediscounting Facility (MRRF) believing that it can reinvigorate the manufacturing sector in 2026.
The Director -General of MAN, Segun Ajayi-Kadir, made the call for the facility in a report on the manufacturing outlook for 2026.
He said that the MRRF is to enable banks to refinance approved manufacturing loans at single-digit rates for up to seven years.
He emphasised that to ensure a more robust manufacturing sector in 2026 , there was need for:
- 1. Launch a Manufacturing Refinancing and Rediscounting Facility (MRRF) that allows banks to refinance approved manufacturing loans at single-digit rates for up to 7 years.
- 2. Create a publicly accessible dashboard tracking lending flows, interest rate spreads, loan approvals and sectoral disbursement patterns in real time.
3. Further reduce the benchmark interest rate by at least 200–300 basis points over the next two quarters to make credit affordable for manufacturers.
4. Craft and ensure the effective execution of the implementation strategy for the recently approved Nigeria Industrial Policy.
5. Categorize manufacturers as strategic users of gas to remove the gap between what manufacturers and electricity generation companies pay per cubic foot of gas.
6. Introduce a stable, transparent gas pricing framework for manufacturers and prioritize local gas supply before exports.
Flutterwave buys Mono for $40 million
Maduro’s Son Calls On Deposed Leader’s Supporters To Stage Protests
Venezuela: Crude prices edge lower following Maduro’s overthrow
Tech Expert, Zuckerberg trains with UFC champions, Adesanya, Alexander
Organ Trafficking: Ekweremadu bags 10 years in UK prison
SAINT OBI: Between his marriage and his death
-
News2 days agoFace of North East’s Suicide Bombers Ringleader
-
News3 days agoNJC Disowns Viral Report on Alleged “Integrity Test” Failure by 34 Judicial Nominees
-
News3 days agoMalami: FHC adjourns bail ruling January 7
-
News17 hours agoFCT Minister Wike Vows No Support for Governor Fubara’s 2027 Re-election Bid
-
Politics7 hours ago2027: I‘ll not allow myself to be buried politically — Wike
-
Politics3 days agoNNPP dissolves Kano executive
-
International2 days agoU.S. bombs Venezuela, arrests President Maduro, wife
-
News2 days agoReps Releases Certified Copies of Controversial Tax Reform Laws Amid Alteration Allegations