We’re targeting the right mix of equity and debt financing for telecoms sector – Nnamani, ATCON’s new President

edge computing, telecoms infrastructure, telecoms, operators

On November 12, Ikechukwu Nnamani became the President of the Association of Telecommunications Companies of Nigeria (ATCON) unopposed. The MD/CEO of Medallion Communications was then saddled with the task of leading the association for the next two years as the advocacy body for telecoms operators in Nigeria sustains its promotion of members’ interests and deliberate engagements with stakeholders. In this interview with OMOBAYO AZEEZ, he reels out his agendas as his two-year tenure sets sail. _____________________________________________________ What is your feeling about the election that has just been won? It is…

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AXA approaches stock investors for fresh N12.75bn capital

AXA MANSARD INSURANCE

Creates new 25.5bn new shares ____________________________  AXA Mansard Insurance Plc has revealed plans to raise its share capital from its current N5.25 billion to N18 billion, equivalent to 242.86 per cent increase. The company made this known through a filling at the Nigerian Stock Exchange (NSE) informing its shareholders and the investing public of an Extraordinary General Meeting where the issue of capital raise, alongside many other issues will be discussed. According to the company, the new capital target will be raised by creation of additional 25.5 billion ordinary shares…

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MPC decision reignites interests in stocks as investors gain N113bn

equities index rebounds by 0.17

The bulls resurfaced in the domestic bourse on Tuesday following announcement at the end of the Central Bank Nigeria’s Monetary Policy Committee’s meeting that monetary parameters would be held constant to hasten economic recovery. Market analysts observed that the development contributed to the rebound recorded in the stock market as the All-Share Index (ASI) gained 218.78 points or by 0.64 per cent to close at 34,340.56 basis points. Similarly, the aggregate value of equities in the market surged with the same percentage points, translating to N113 billion for equities investors…

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Nigeria’s oil production value surges to $2.7bn

Nigeria’s oil production value surges to $2.7bn

Nigeria’s oil production value surged to $2.7 billion as output hit 2.49 million barrels per day at the peak of COVID-19 in April, 2020. The last time the country’s output reached this level was 15 years ago. Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, who gave this hint in Abuja, noted that the commitment of the Corporation to transparency and accountability made the high production possible. With the crude price averaging $35 per barrel, the 2.49 million daily barrel amounted to $7.15 million while…

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Emirates offers first ever $500,000 multi-risk travel coverage for passengers

Emirates $500,000 risk insurance

Emirates customers can now plan their travels and fly with even greater assurance and peace of mind, with the airline’s latest industry-first initiative to provide expanded, multi-risk travel cover on top of its current COVID-19 cover. Provided by Emirates at no additional cost to its customers, and provided by AIG Travel, this cover is the first of its kind in the airline and travel insurance industry. It is designed to provide all Emirates passengers a truly unique offer for stress-free and hassle-free travel. This new multi-risk travel insurance and COVID-19…

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FG providing N27bn financial support for aviation sector

Govt is not reason for your woes, Sirika cautions airlines

The Federal Government has put in a process to ensure the revival of the aviation industry after the devastating blows suffered by the sector in the hand of Coronavirus pandemic and lockdown. To achieve this, government is providing N27 billion financial support for the sector in its economic plan christened ‘Nigeria Economic Sustainability Plan. Following the health and economic emergencies caused by the COVID-19 outbreak, President Muhammadu Buhari established the Economic Sustainability Committee (ESC) on March 30, 2020. Members of the committee include Vice-President Yemi Osinbajo, ministers of finance, budget…

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Post-MPC Decision: Mixed trend ahead, as investors reshuffle portfolios for year-end

Market Update for November 24 By Investdata Analysts Trading activities on the Nigerian Stock Exchange rebounded on Tuesday on the back of the Central Bank of Nigeria’s Monetary Policy Committee decision to retain all policy instruments unchanged, so as to drive economic output and hasten recovery. The rebound halted three consecutive sessions of losses on high buying pressure that resurfaced by early afternoon.    The rebound also came as the outgoing President of the United States, Donald Trump, finally conceded defeat, after weeks of stand-off, to give way for the…

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