Connect with us


NEWS

SCOA Boss Commends Unity Bank, Others For Facilitating Supply of N15.5b Worth of Trucks, Equipment To Julius Berger

Published

on

The Group Managing Director/Chief Executive Officer of SCOA Nigeria Plc, Dr. Massad Boulos has commended Unity Bank Plc and other banks for facilitating a credit facility of N15.5 billion for the importation and supply of 33 MAN Platform Trucks and equipment to construction giant, Julius Berger Plc.

The equipment is to be deployed for the construction of the 380km Abuja-Kaduna-Kano roads.

“I commend Unity Bank, their MD and the members of the Executive Management; and the entire team of banks who have worked closely with us on this project,” he said.

Unity Bank advanced the largest sum of N4.24 billion for SCOA Equipment, which is a portion of the N17 billion total line of credit that the Bank extended to both SCOA Motors and SCOA Equipment.

The other seven Banks – Heritage, Zenith, Providus, Wema, UBA, Union, and Coronation Merchant Banks – pulled the total sum to facilitate the equipment supply deal to be deployed for the construction of roads across the country.

Of the 33 trucks that the total sum covered, 16 trucks were delivered during the first phase and handed over to Julius Berger. The second phase, which will see to the delivery of the remaining 17 trucks will be executed next month.

Commenting during the official handover ceremony of the equipment to Julius Berger Nigeria Plc, the Managing Director/CEO of Unity Bank Plc, Mrs. Tomi Somefun stated that the involvement of Unity Bank in the project financing deal was in line with the Bank’s strategic business objective to redistribute resources and channel funds to critical sectors of the economy.

“We looked at the strategic importance of this project and how such infrastructure could contribute to stimulating economic activity and decided that Unity Bank must play its part. Unity Bank will continue to provide support to such projects as we have been doing in other critical sectors of the economy such as agriculture,” said Somefun who was represented at the ceremony by Mr. Wale Ogunride, Directorate Head, Lagos and southwest Zone, Unity Bank Plc.

Speaking further, Boulos stated at the handing over event that the partnership with Unity Bank and the other banks “is like no other considering the parties involved especially SCOA Nigeria and Julius Berger”.

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

NEWS

PSL Capital Limited Announces Rebranding, Changes Name To Parthian Securities Limited

Published

on

PSL Capital Limited, a leading indigenous broker/dealer firm, has completed a strategic rebranding effort as part of its accelerated company growth and renewal of its corporate vision. At the core of the rebrand is a change of the company name to Parthian Securities Limited and an update to the corporate logo and domain name (parthiansecuritiesng.com)

Over the past 5 years, Parthian Securities Limited has cemented its status as a market leader for securities trading in Nigeria and across Africa. It has experienced 30%+ YTD growth in client acquisition, tallying 1,100 customers across the country. This growth reflects the increasing recognition of individuals and companies that Parthian Securities Limited offers an easy and convenient platform for real-time trading of securities.

The rebranding is part of the organization’s strategy to evolve its business and create a platform for new opportunities. Despite the name change, the corporate philosophy remains the same as the company looks to invest in new and innovative ways to bring the financial markets closer to participants in the Nigerian Capital Market.

“Over the past nine years, we’ve built a strong reputation for innovation and excellence,” said Oluseye Olusoga, Group Managing Director, Parthian Partners Limited. “We want to leverage on the strong brand name that is Parthian and ensure that all subsidiaries under the group identify under a uniform brand name. While we wanted to reflect our work in the new naming accurately, we also wanted to properly market the organization in pursuit of new opportunities for future growth and expansion.”

In all, the renaming embodies an organization reinventing itself but is still very committed to its roots. The new identity builds upon its history of innovation and excellent service delivery and opens doors to the future.

Commenting, the Acting Managing Director, Parthian Securities Limited, Mr Ogunwale Kehinde, said: “We are excited about this change, and it marks a strategic pivot in our future direction as a business. While we remain committed to offering outstanding services to our amazing clientele, there is tremendous potential to grow, and this our new branding positions us to take full advantage of those opportunities.”

Continue Reading

NEWS

TheFLEA Conference & Awards set to spotlight sustainable development in Nigeria

Published

on

Freelanews has announced the maiden edition of her leadership and entrepreneurship awards, tagged TheFLEA Awards.

The publisher of Freelanews and founder of the award, Victor Ojelabi, while briefing the press in Lagos, hinged the motive behind the establishment of the award on the exigent need for national resurgence.

According to him, “Nigeria cannot properly develop if we continue to build on sociopolitical expediencies – run reactional government and businesses, pilot the affairs of our nation on the impulse of solving the most popular social or economic problem with short-term agendas and immediate gain motivation.”

He further explained that there is a need to be deliberate, holistic, and strategic in our planning as a nation; set a long-term focus on sustainable development, mirror how every element of our nationhood can interact efficiently in our policymaking.

“Leaders across the board must adopt a paradigm that focuses on the big picture such that our immense human and material resources can be maximized,” Ojelabi explained.

He summed that Freelanews will be using all its platforms and network of top media platforms in the country to enlist, review and honour individuals, groups, brands, and organizations with the prestigious TheFLEA Awards, to encourage the courage and dedication in the practice of future-oriented lifestyles or operations.

Uniquely, TheFLEA Awards are given to those leaders championing thoughts, causes, and operations that will have an evidential impact on the nation in the future.

The maiden edition of the TheFLEA Conference and Awards is planned to be an exclusive gathering of Nigeria’s top political and business leaders spanning key economic sectors and is scheduled to hold at the Radisson Blu Hotel, Ikeja, Lagos on the 30th of November, 2021.

“Every awardee’s activity is projected for the next ten years and expected impacts are extrapolated through our robust modeling algorithm. The pluralist model was adopted instead of the usual nomination-election model to identify the most appropriate winner in each of the twenty (20) carefully crafted categories,” he concluded.

Continue Reading

BIG STORY

FG Makes COVID-19 Vaccination Compulsory For Civil Servants

Published

on

The federal government has mandated civil servants to get vaccinated against COVID-19.

Boss Mustapha, secretary to the government of the federation (SGF), said workers who fail to get vaccinated will be barred from entering their places of work.

Mustapha, who is also the chairman of the presidential steering committee (PSC) on COVID-19, announced this at a briefing on Wednesday.

He said starting from December 1, workers who do not show proof of vaccination and or a negative COVID-19 result will be barred from government offices.

“With effect from 1st December 2021, federal government employees shall be required to show proof of COVID-19 vaccination or present a negative COVID-19 PCR test result done within 72 hours, to gain access to their offices, in all locations within Nigeria and our Missions. An appropriate service-wide advisory/circular will be issued to guide the process,” he said.

According to the SGF, testing statistics generated over the last four weeks have shown that the infection rate is going down in some states, while in others, the trajectory is upward.

He said the restrictions placed on travellers coming into Nigeria from South Africa, Turkey, and Brazil have been eased.

“The honorable minister of aviation today presented the position of African countries on vaccine passport which some economic blocks and countries wish to impose, for travel purposes,” he said.

“This is because African countries have found it difficult to access the vaccines for their citizens in sufficient number.

“Over several months, four countries were placed on high-level restriction for travelers from such countries. The PSC has after a review of the developments in these countries, decided to remove South Africa, Turkey, and Brazil from the restricted list.

“As you are aware, the UK has eased restrictions on fully vaccinated travelers from Nigeria to the UK with effect from 11th October.”

He said the PSC will continue to review Nigeria’s protocols based on global developments, science, and national experience.

Continue Reading

Most Popular