• Adamawa acquires 12 mining licenses, signs $5bn exploration pact with Swiss firm

    Adamawa acquires 12 mining licenses, signs $5bn exploration pact with Swiss firm

    According to reports, the Adamawa Mining Company Limited says it has acquired 12 licenses for solid minerals explorations in the state.

    Shanti Shashi, the state Commissioner of Solid Minerals Resources, disclosed this in an interview with the News Agency of Nigeria in Yola on Tuesday.

    Ms. Shashi said the state government had also signed a $5 billion agreement with a Swiss company, BTP Swiss Sovereign Asset, for the exploration of solid minerals in the state.

    He said the agreement was signed in June […]

  • CBN licenses 11 new IMTOs

    CBN licenses 11 new IMTOs

    The Central Bank of Nigeria (CBN) on Tuesday licensed 11 new International Money Transfer Operators (IMTOS) to operate in the country.

    According to its acting Director of Corporate Communications,  Mr Isaac Okorafor, the new IMTOS  are Trans-Fast Remmitance LLC, WorldRemit Limited, UAE Exchange Centre LLC; Wari Limited and HomeSend SCRL. Others are Small World Financial Services Group;Weblink International Limited and Cashpot Limited. The rest are DT&T Corporation Limited; Fiem Group LLC DBA Ping  Express andCP Express Limited.

    Okorafor explained in a statement […]

  • Uganda grants 8 oil production licenses to Total, Tullow

    Uganda grants 8 oil production licenses to Total, Tullow

    Uganda’s government has issued eight oil production licenses to two foreign companies, moving the East African country closer to becoming a producer of crude.

    Five of the licenses were granted to Britain’s Tullow Oil while France’s Total was given three, after years of regulatory delays and tax disputes.

    Representatives of the oil companies and Uganda’s government signed agreements in the capital, Kampala, on Tuesday.

    Each license is good for 25 years and can be renewed for an additional five years.

    The China National Offshore […]