Urgent.News

What's breaking now, across thousands of outlets.

Finance & Markets

Five investors take 72.35% stake in Abbey Bank

Five investors have emerged as significant shareholders in Abbey Bank Plc, collectively acquiring a 72.35% stake following a private placement. Read More: https://punchng.com/five-investors-take-72-35-stake-in-abbey-bank/

Five investors take 72.35% stake in Abbey Bank

We haven't written up this one. Punch Nigeria has the full story — the link below goes straight to it.

Read the original at punchng.com →

More in Finance & Markets

UNLOCKING THE FULL POTENTIAL

OLAKUNLE AKINMOSA argues why Dangote’s ‘thank-you’ to Tinubu matters On Monday, September, 14, when Africa’s richest man, Aliko Dangote, publicly thanked President Bola Ahmed Tinubu for removing fuel…

  • President Bola Tinubu removes fuel subsidies, reforms foreign exchange system
  • Aliko Dangote praises Tinubu for bold economic steps
  • Dangote Refinery, Africa's largest IPO, symbolizes Nigeria's economic transformation

NIGERIA AND POLITICS OF FUEL SUBSIDY REMOVAL

I can recall the Petroleum Trust Fund (PTF), established in the aftermath of the 1993 fuel-price increase, when the price of petrol rose from about N3.50 to N8.50 per litre.

  • Fuel subsidy removal has been political issue in Nigeria for decades.
  • SURE-P program aimed to reinvest fuel subsidy funds in infrastructure.
  • Lack of transparency in fiscal space created by subsidy removal.

More from Sunday 20 September →