The United States imposed long-anticipated sanctions on Turkey on Monday over Ankara’s acquisition of the Russian S-400 air defense systems, further complicating already strained ties between the two NATO allies. Turkey condemned the sanctions as a “grave mistake” and urged Washington to revise its “unjust decision.” Senior U.S. officials said in a call with reporters that Ankara’s purchase of the S-400s and its refusal to reverse its decision left the United States with no other choice. The sanctions, first reported by Reuters last week, target Turkey’s top defence procurement and development body Presidency of Defence Industries, its chairman Ismail Demir and three other employees. While limited to one company, they are still likely to weigh on the Turkish economy, analysts said, at a ti...
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The Federal Executive Council (FEC), presided over by President Muhammadu Buhari, on Wednesday in Abuja approved N1.1billion for the acquisition of a 156-room accommodation for use by Staff of the Nigeria Drugs Law Enforcement Agency (NDLEA). The Attorney General and Minister of Justice, Abubakar Malami, announced this when he briefed State House correspondents on the outcome of the Council. He said: “The memo presented by the office of Attorney General and Minister of Justice is related to National Drug Law Enforcement Agency (NDLEA). “It is a memo that seeks council’s approval for the award of contract for the purchase of a property properly known and described as Plot No. 1123-1129 Cadastral Zone 0607 at Aviation Village, Airport Road, Abuja – a property which consists of 156 rooms in a...
Following its first announcement in October 2019, Access Bank Plc has announced the successful completion of the acquisition of Transnational Bank Plc, of Kenya (TNB). The Bank made this known through a statement signed by its Company Secretary, Sunday Ekwochi. “Access Bank Plc is pleased to inform the investing public and the Nigerian Stock Exchange of the Bank’s successful completion of the acquisition of Transnational Bank (Kenya) Plc. This follows the receipt of full regulatory approvals and fulfillment of all conditions precedent to completion,” the statement read. Commenting on the acquisition, Herbert Wigwe, the Group Managing Director, Access Bank PLC, said, “We are excited to make an entry into the vibrant Kenyan market. We pledge to put our customers at the forefront of everythin...