Business Tips

The African Development Bank (AfDB) has apprived $32.5 million equity investment in Climate Investor One’s Construction Equity Fund (CEF).

The amount was approved by the Board of Directors of AfDB for the CEF which is a platform that uses a unique blended finance approach, and targets the entire asset lifecycle to deliver viable renewable energy projects to the market.

The Federal Government says the N100 billion Sovereign Sukuk bonds proceeds will be used to construct 642.69km roads across the nation.

Mr Babatunde Fashola, Minister of Power, Works and Housing, said this at the presentation of the N100 billion cheque by the Minister of Finance, Mrs Zainab Ahmed, in Abuja.

Fashola said that the money was shared equally among the six geo-political zones, meaning that each geo-political zone would get N16.67 billion for the number of roads to be completed in them.

Nigeria and India are set to sign Bilateral Air Services Agreement (BASA) before the end of January that would enable direct flights between the two countries, the Indian High Commissioner to Nigeria, Mr Abhay Thakur has said.

Thakur said this to newsmen at an event to commemorate the World Hindi Day and Pravasi Bharatiya Divas in Abuja on Wednesday night.

The high commissioner said that the BASA was part of pending agreements to be signed between both countries.

A Federal High Court, presided over by Justice Ijeoma L. Ojukwu has ordered the interim forfeiture of assets and properties traced to Ngozi Olejeme, a former chairman of Nigeria Social Insurance Trust Fund, NSITF.

Justice Ojukwu granted on 21 December the application for forfeiture made by the Economic and Financial Crimes Commission, EFCC.

He ruled that the assets and properties set out in the schedule attached to the application be forfeited to the Federal Government of Nigeria, pending the hearing and determination of the trial in Charge No. CR/365/17.