Connect with us

General News

Agusto and Co Announces Retirement of Vivien Shobo Its Chief Executive Officer

Published

on

Kindly share this post

Agusto & Co, Nigeria’s foremost Credit Rating Agency, has announced the retirement of its Chief Executive Officer – Vivien Shobo, effective 31 December 2019.

Agusto and Co Announces Retirement of Vivien Shobo Its Chief Executive Officer

Vivien Shobo

Following over two decades with the organization, Vivien leaves with an outstanding record of achievements further strengthening Agusto & Co’s formidable market position.

She also led Agusto & Co’s African expansion initiatives by obtaining Credit Rating Agency licenses from the Capital Market Authorities of Kenya and Rwanda.

Under her leadership, Agusto & Co has successfully rated most of Nigeria’s leading banks and pioneered domestic credit ratings for notable corporates such as Dangote Cement Plc, MTN Nigeria Communications Plc, Lafarge Africa Plc, Nigerian Breweries Plc, Guinness Nigeria Plc, Julius Berger amongst others.

Vivien’s management at Agusto & Co also played major roles in facilitating landmark multibillion transactions including the:

  • Largest Municipal Bond programme and single largest tranche issuance – Lagos State Government’s ₦500 billion Bond programme and ₦87.5 billion Bond issuance.
  • First bond issued by a deposit money bank in Nigeria in 2006 “the Access Bank ₦13.5 billion-naira redeemable bond”.
  • First bond issued by an insurance company in 2008 “Crusader Nigeria Plc ₦4 billion Unsecured Convertible Debenture
  • First 15-year corporate green bond fully guaranteed by infrastructure Credit Guarantee Company Limited (Infracredit) – NSP-SPV PowerCorp Plc’s ₦8.5 Billion 15-year 15.60% Series 1 Guaranteed Fixed Rate Senior Green Infrastructure Bond Due 2034
  • First commercial paper issuance under the new guidelines of FMDQ – UPDC’s ₦24 billion commercial paper programme
  • First hospitality corporate bond issuance in the Nigerian debt capital market – Transcorp Hotels Plc’s ₦19.7 billion Series I & II bonds Due 2020
  • First FinTech corporate bond (callable) issuance in the Nigerian debt capital market- Interswitch Africa One Plc’s ₦23 Billion 7-Year 15% Fixed Rate Series 1 Senior Unsecured Callable Bonds Due 2026
  • First logistics corporate bond issuance in the Nigerian debt capital market – TAK Agro Plc’s ₦15 Billion 16.49% Seven-Year Fixed Rate Senior Bond Due 2026
  • World Bank credit rating assessment for City of Kigali and the 30 districts in Rwanda in 2015

Following her retirement, Yinka Adelekan, Executive Director, has been appointed as Agusto & Co’s Chief Executive Officer designate. Yinka is an astute finance executive with over twenty years’ experience in the financial services industry, and her expertise spans credit ratings, corporate banking, risk management, product development, financial analysis, and information management.

Agusto & Co is a pioneer in the Nigerian Credit Ratings Industry and commenced business in January 1999. In 2001, Agusto & Co became the first credit rating agency to be licensed by the Securities & Exchange Commission.

Advertisement

Kindly share this post

Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

General News

Police Uncover Fake Diplomatic Number Plate Syndicate in Abuja

Published

on

Kindly share this post

Police in Abuja have uncovered a criminal group making fake diplomatic and government number plates.

Police Uncover Fake Diplomatic Number Plate Syndicate in Abuja

Ahmed Sanusi, commissioner of Police FCT, stated this during a press briefing on Friday.

He explained that criminals use these fake plates to dodge security checks and enter restricted areas.

The investigation started soon after Sanusi took office.

He noticed too many unauthorized cars driving around with official government and diplomatic tags.

Advertisement

“I immediately ordered a comprehensive investigation into this disturbing trend,” Sanusi said. He noted that these individuals use the plates as a cover to commit crimes and avoid arrest.

The police have already arrested several people caught using the fake plates.

They have also figured out who is making them.

The manufacturers operate outside Abuja, and police are actively hunting them down.

Sanusi kept their names secret so they would not flee.

Advertisement

He stressed that this is a highly profitable illegal business.

Buyers pay between N500,000 and N1.7 million for a single fake plate.

“This will tell you that they are making such huge expenditure because they have an agenda,” Sanusi explained.

“Now they will face punishment that is bigger than both the cost they incur and the agenda they are planning.”

The commissioner urged residents to report any cars with suspicious diplomatic plates.

Advertisement

He reminded the public that real diplomatic tags follow a very specific format.

A diplomatic number plate in Nigeria is a special vehicle identification tag issued to foreign embassies, high commissions, and accredited international diplomats.

 

Kindly share this post
Continue Reading

General News

Gavi Okays $500m for Vaccines, PHCs in Nigeria

Published

on

Kindly share this post

Gavi has approved $500 million to strengthen Nigeria’s immunisation programme, primary healthcare services and long-term vaccine financing.

Gavi Okays $500m for Vaccines, PHCs in Nigeria

The move followed high-level discussions between Professor Muhammad Ali Pate, coordinating minister of Health and Social Welfare,  ]and Dr. Sania Nishtar, chief executive officer, Gavi in Abuja.

The funding, approved under the Gavi 6.0 programme, will support Nigeria’s efforts to accelerate routine immunisation, sustain polio eradication, expand HPV vaccination, strengthen primary healthcare services, and improve long-term vaccine financing.

Speaking during the meeting, Pate said Nigeria was strengthening its partnership with Gavi to accelerate immunisation, expand primary healthcare services, and ensure sustainable financing for vaccines.

He welcomed Gavi’s country-focused reforms, including the introduction of a predictable five-year funding envelope.

Advertisement

Pate said the US$500 million allocation will enable Nigeria to plan more effectively and deliver life-saving vaccines to more children and vulnerable populations.

The minister also revealed that quarterly visits to primary healthcare centreshad increased from about 10 million in 2023 to more than 45 million, reflecting significant progress in revitalising the country’s primary healthcare system.

Pate welcomed the announcement of a US$600 million pledge by the United States government to Gavi, describing it as a strong endorsement of the alliance’s leadership and the global value of vaccines.

He also commended Nishtar for prioritising Nigeria and praised the closer coordination among Gavi, World Health Organisation (WHO), UNICEF, World Bank, Gates Foundation, and other development partners, describing it as a model that has improved efficiency and aligned support with Nigeria’s health sector reforms.

The minister expressed appreciation to Gavi and its partners for their continued technical and financial support, while calling on state governments to invest more in healthcare and immunisation to complement federal efforts.

Advertisement

 

Kindly share this post
Continue Reading

General News

The Journey to Financial Freedom: Priscilla, a PalmPay Agent Now Owns a Store

Published

on

Kindly share this post

For many women, financial independence means the freedom to provide for their families and build a better future. Yet, this remains out of reach due to limited access to opportunities, business support, and secure payment solutions.

Like millions of women in Nigeria determined to be financially independent, Pricillia started with a single PalmPay POS terminal, and as an agent, every successful transaction provided a commission which brought her one step closer to achieving her dream.

Through consistency, discipline, and support from the payment platform, she reinvested her earnings and eventually opened her own provision store.

“I started as just a PalmPay agent with one POS. The consistency of the platform gave me the confidence to expand. With the income I earned, I was able to open my own provision shop.” Priscilla said.

For Priscilla, PalmPay was more than a payment platform. Its secure payment infrastructure gave her the confidence to serve her customers, build trust, and grow her income.

Advertisement

Today, Pricillia has joined the statistics of SMEs powering Nigeria’s economy and PalmPay continues to support her daily operations, helping her receive payments, as she works towards her next business milestone. Her journey is a reminder that when women have access to secure financial tools and opportunities, they can build lasting economic independence.

Speaking on Pricillia’s journey, Femi Hanson, Head of Marketing, PalmPay said: “Providing a secure platform that users can trust, whether for everyday payments or high-value transactions, is central to our vision of advancing financial inclusion. Priscilla’s story reflects our commitment to supporting the ambitions of Nigerians by providing a platform they can rely on to grow their finances. After all, seamless banking begins with security, and every successful transaction reinforces the trust our users place in us.”

Priscilla stands among thousands of PalmPay agents nationwide who are helping to expand financial access across Nigeria while earning commissions to create sustainable sources of income for themselves.

Every payment tells a story. It begins with trust, the confidence that your money is secure and that financial services are accessible. And when that opportunity reaches women, it creates ripple effects that transform families, strengthen communities, and drive economic growth.

Advertisement

Kindly share this post
Continue Reading

Trending