SEC clears Dangote Refinery for landmark N2.15tn IPO - ITREALMS

The Securities and Exchange Commission (SEC) has granted formal regulatory approval for Dangote Petroleum Refinery and Petrochemicals FZE to launch its Initial Public Offering (IPO), setting the stage for what stands to become the largest equity issuance in the history of the Nigerian capital market, reports ITREALMS.

The regulatory clearance was conveyed via an official letter to the Lead Issuing House, Vetiva Advisory Services Limited, signed by Abdulkadir Abbas, Director of the Securities and Investment Services Department at the SEC. 

CBN clears valid FX transactions to eliminate legacy backlog - ITREALMS

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The Central Bank of Nigeria (CBN) has revealed that all valid foreign exchange backlogs have now been settled, fulfilling a key pledge of the CBN Governor, Mr. Olayemi Cardoso, to process an inherited backlog of US$7 billion in claims.

This was disclosed by the bank’s Acting Director, Corporate Communications, Mrs. Hakama Sidi Ali, in Abuja on Wednesday, March 20, 2024, noting that the CBN recently concluded the payment of $1.5 billion to settle obligations to bank customers, effectively settling the residual balance of the FX backlog. 

NITDA clears EFCC-NFIU ICT security upgrade

ITREALMS:

Acclaimed Federal Government (FG) clearinghouse on Information Technology (IT) procurement and services in the public sector, the National Information Technology Development Agency (NITDA) has cleared the Information and Communications Technology (ICT) security and systems infrastructure upgrade project of the Economic and Financial Crimes Commission (EFCC) cum Nigeria Financial Intelligence Unit (NFIU), reports ITRealms.

This was confirmed to ITRealms, the Director General/CEO, NITDA, Dr Isa Ali Ibrahim Pantami, said it’s in an effort to strengthen the IT Projects Clearance process, in the country.

Also in a press statement made available to ITRealms by the Head, Corporate Affairs and External Relations, NITDA, Mrs Hadiza Umar, quoted Dr. Pantami as saying that the agency recently sought for the support of the EFCC in order to sustain its fight against corrupt practices in IT procurements of government Ministries, Departments, and Agencies (MDAs).

According to Pantami, the EFCC Acting Chairman/CEO, Mr Ibrahim Magu, had pledged the Commission’s support and indicated that they would comply with government’s directives on obtaining NITDA’s clearance for the Commission’s IT procurements and services.

In fulfillment of this pledge, the Commission subjected its ICT Security and Systems Infrastructure Upgrade project to rigorous scrutiny by NITDA’s IT Projects Clearance Committee.

“By this singular act, the EFCC has shown that it is not above the law thereby serving as an example to other government establishments,” he said.

ITRealms recalled that President Muhammadu Buhari, had called for strict compliance to the IT Project’s Clearance directive by all government establishments, during the opening ceremony of this year’s e-Nigeria International Conference and Exhibition held from Tuesday 7th to Thursday 9th November, 2017 in Abuja.

Chuks Egbune/GEE 

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