NUPENG threatens nationwide strike over Kaduna, labour dispute
The Nigeria Union of Petroleum and Natural Gas Workers said on Tuesday that it might declare a nationwide industrial action following the ongoing face-off between the Nigeria Labour Congress and the Kaduna State Government.
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NUPENG, in a statement jointly signed by its National President, Williams Akporeha, and General Secretary, Afolabi Olawale, told its members to be on red alert over the attack on NLC peaceful protest in Kaduna State.
NUPENG warned that if any harm was inflicted on any of the members of the organised labour, the leadership of the union would not hesitate to call on all its members throughout the nation for a total shut down of all services in the upstream, midstream and downstream sectors of the oil and gas industry.
Nigeria may experience a setback in COVID vaccine distribution as Indian supplier postpones delivery
Nigeria may experience some setback in its coronavirus vaccine distribution as the Serum Institute of India (SII), the main supplier of the COVAX facility, says it may not resume the export of vaccine doses till the end of 2021.
Nigeria is currently a beneficiary of the United Nations-led COVAX facility which is facilitating the procurement of vaccines for African countries.
In February 2021, COVAX had announced the donation of 16 million doses to Nigeria, although the country is currently distributing the 3.9 million doses supplied in March for the first phase of vaccination.
The AstraZeneca vaccine doses currently being distributed in the country are sourced from the SII.
Lagos Commodities Exchange to list Agvest’s N5bn cashew nut contract
Agvest Limited, a player in the agricultural value chain in Nigeria, has been screened by the Lagos Commodities and Futures Exchange for the listing of its N5bn cashew nut contract by diversified financial instruments.
Under the proposed listing, financial instruments worth N1.5bn with cashew nut as the underline assets would be offered to investing public through commercial papers and short-term exchange-traded notes.
The Managing Director, Agvest, Olabode Abikoye, while addressing journalists on Tuesday, explained that proceeds of the offer would enable the company to get both its plantation and factory up and running in West Africa at the first instance.
Aero’s aircraft grounded after bird strike, says NCAA
Aero Contractors’ aircraft, Boeing 737-500 with registration number 5N-BKR, has been grounded for repairs in Port Harcourt after a bird strike.
Sources gathered that the Abuja-bound flight returned to Port Harcourt after one of the engines got hit by a bird on Monday, few minutes after take-off.
The Director-General, Nigerian Civil Aviation Authority, Captain Musa Nuhu, confirmed the incident in an interview with our correspondent.
Access Bank buys Mozambique’s African Banking Corporation — fifth acquisition in 4 years
Access Bank Plc, Nigeria’s biggest bank by customer base, has completed the acquisition of African Banking Corporation in Mozambique, backed by a London Stock Exchange-listed group, Atlas Mara Limited.
This is the bank’s fifth acquisition in four years.
In 2018, the lender acquired Diamond Bank through a merger and acquisition deal, completed in 2019.
In the fourth quarter of the same year, it acquired Transnational Bank (Kenya) Plc.
In August 2020, the bank also announced the acquisition of Cavmont Bank Limited through a merger deal and finalised the process in January 2021.
It has also acquired Grobank in South Africa and now completed the acquisition of Mozambique’s African Banking Corporation.
In a corporate filing on Tuesday, Sunday Ekwochi, Access Bank secretary, said Access Mozambique will now move towards integrating and merging BancABC Mozambique into its operations, “which is expected to create the seventh-largest bank in the Mozambican banking market.”
