UK GOVT INVESTS $6M IN INFRACREDIT TO BOOST NIGERIA’S ENERGY TRANSITION, INFRASTRUCTURE. (PHOTO).

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 UK Govt invests $6m in InfraCredit to boost Nigeria’s Energy transition, infrastructure The United Kingdom has announced an investment of $6 million towards unlocking domestic capital for Nigeria’s infrastructure development and energy transition. The investment was made through its MOBILIST programme to support the listing of InfraCredit on the NASD OTC Exchange Plc. The total listing by InfraCredit, Nigeria’s first and only domestic credit guarantor, is valued at N64 billion ($41 million). The company successfully raised NGN27 billion ($17.7 million) in new equity as part of the transaction. The investment from MOBILIST will further enable InfraCredit to expand its guarantee capacity and support a broader pipeline of infrastructure projects across the country. A statement by InfraCredit said the investment addresses this gap by offering Naira-denominated guarantees that enhance the creditworthiness of infrastructure debt instruments, thereby attracting investment from Nigerian i...
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DIEZANI DISTANCES SELF FROM OWNERSHIP OF REPATRIATED $52.8M LOOT. (PHOTO).

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Ex Minister of Petroleum, Diezani distances self from ownership of repatriated $52.8m loot.


A former Minister of Petroleum Resources, Diezani Alison-Madueke has distanced herself from the ownership of $52.5m recently repatriated to Nigeria from the United States of America, USA.


The former Minister who has been in the United Kingdom, UK, since she left the shores of Nigeria claimed that the money linked to her in the media as a loot actually belonged to a Nigeria’s oil magnate, Kola Aluko.


Breaking her silence in the matter through her counsel, Prof Mike Ozekhome SAN, Mrs Alison Madueke insisted that there was nothing like “Diezani Loot”, since she had no hand whatsoever in the issues surrounding the forfeiture of the money by the owner.


Stating her position, the former minister said the $52.5m came from a vessel seized by the American government from Kola Aluko and which was later sold and proceeds returned to the federal government of Nigeria.


Her denial of ownership of the money was contained in a lengthy press statement issued on Sunday by the Chambers of Mike Ozekhome SAN and titled ” There is no such thing as Diezani Loot “.


Part of the statement read “My chambers makes this intervention in the public domain as Solicitors to Diezani Alison-Madueke (DAM) ,the former Minister of Petroleum Resources, HMPR.

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