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EBID Signs USD30 Million Credit Line with Access Bank

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EBID Signs USD30 Million Credit Line with Access Bank

… Other Financial Lifeline with Two Malian Companies

By: Michael Mike

ECOWAS Bank for Investment and Development (EBID) has signed a credit line of $30 million with Access Bank Plc in Ghana Small and Medium Enterprises (SMEs) to boost the agricultural business and related sectors, including processing, infrastructure, transport, and
women-owned businesses in the West African country.

The bank also signed two other separate finance agreements with two companies Baraka and Societe Niangadou Distribution Compagnie (NDC).

A statement from the bank on Wednesday read that: “On the side lines of the 30th Annual Meetings of the Afreximbank, the President and Chairman of the Board of Directors of the ECOWAS Bank for Investment and Development (EBID), Dr George Agyekum Donkor, has signed three separate finance agreements with three companies namely Baraka, Societe Niangadou Distribution Compagnie (NDC)
and Access Bank Plc on Tuesday June 20, 2023, in Accra, Ghana.”

According to the statement, the first agreement entails an extension of facility amounting to EUR 10 million, aimed
at increasing Baraka’s capacity to finance the supply of petroleum products to marketers and mining companies in the Republic of Mali. This follows a previous agreement in 2022, where EBID extended a facility of EUR 7 million to Baraka SBP for the acquisition of 47 tanker trucks, expanding the company’s fleet to meet the growing demands of the Malian economy.

The second agreement focuses on enabling Societe NDC SAU to expand its interventions in the energy sector of Mali as a petroleum product supplier. It provides a revolving facility of EUR 10 million for the importation and marketing of petroleum products.

The statement said together, these two agreements demonstrate EBID’s commitment to supporting projects in both the private and public sectors in Mali, with a cumulative commitment of 275 billion FCFA.

The third agreement involves a credit line of $30 million to Access Bank Plc in Ghana, dedicated to on-lending to Small and Medium Enterprises (SMEs) in the agricultural business and related sectors, including processing, infrastructure, transport, and women-owned businesses.

The statement said “Dr George Agyekum Donkor, President of EBID, emphasized that the signing of these agreements aligns with the bank’s strategic orientation to invest in the growth poles of ECOWAS Member States. He highlighted Mali as a landlocked, non-oil-producing country heavily dependent on fuel transported by tankers from neighboring countries.

“Dr Donkor stressed the importance of ensuring a consistent supply of petroleum products to support key economic activities, particularly in sectors such as industry and mining. He urged all stakeholders to utilize these facilities effectively to foster the transformation of ECOWAS communities.”

According to the statement, representatives from each company, including Mr. Sadio Bathily, Managing Director of Baraka, Mr. Mamadou Niangadou, Chief Executive Officer of Societe NDC SAU of Mali, and Mr. Olumide Olatunji Managing Director of Access Bank Plc, expressed their appreciation and commitment to utilizing the financing to drive growth, enhance operations, and contribute to the development of their respective sectors.

The statement added that: “The ECOWAS Bank for Investment and Development remains dedicated to its mandate of promoting economic and social development in the ECOWAS region through strategic investments and partnerships. These agreements signify EBID’s ongoing efforts to provide financial solutions that spur private sector development and contribute to the sustainable growth of the region.”

ECOWAS Bank for Investment and Development (EBID) is a leading regional investment and development bank, owned by the 15 ECOWAS Member States, namely, Benin, Burkina Faso, Cape Verde, Côte d’Ivoire, The Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone, and Togo. Based in Lomé, Togolese Republic, the Bank is committed to financing developmental projects and programmes covering diverse initiatives from infrastructure and basic amenities, rural development and environment, industry, and social services sectors, through its private and public sector windows.

EBID intervenes through long, medium, and short-term loans, equity participation, lines of credit, refinancing, financial engineering operations, and related services.

EBID Signs USD30 Million Credit Line with Access Bank

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FG Declares Public Holiday on June 12 to Mark Democracy Day

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FG Declares Public Holiday on June 12 to Mark Democracy Day

By: Michael Mike

The Federal Government has declared Thursday, 12th June, 2025 as Public Holiday to commemorate this year’s democracy day celebration.

The Minister of Interior, Hon. Olubunmi Tunji-Ojo, who made the declaration on behalf of the Federal Government in a statement signed by the Permanent Secretary, Ministry of Interior, Dr. Magdalene Ajani, congratulated Nigerians on this occasion of 26 years of an uninterrupted civil rule.

He said: “June 12 represents our historic journey to building a nation where truth and justice reign and peace is sustained and our future assured.

“The last 26 years tells the story of our resilience, strength and courage and a hope Renewed than ever.”

The Minister while noting that Democracy is sustained with open doors for further improvement, reiterated the commitment of the Renewed Hope government of President Bola Ahmed Tinubu (GCFR) to the universal value of democracy that is based on freely-expressed will of the people in determining Nigeria’s political, economic, social and cultural systems.

FG Declares Public Holiday on June 12 to Mark Democracy Day

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Chieftaincy dispute causes chaos in Muye village in Niger

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Chieftaincy dispute causes chaos in Muye village in Niger

By: Zagazola Makama

A renewed chieftaincy tussle in Muye village, Lapai Local Government Area of Niger State, has sparked violent confrontations between rival supporters, prompting swift intervention by security operatives.

Zagazola Makama gathered that the crisis began around 6:20 p.m. on Thursday when the deposed village head, Alhaji Mohammed Abdulkadir Maigari II, forcefully returned to Muye and broke into the palace.

The incident provoked tension among residents, especially after supporters of the current Dakachi confronted the deposed monarch. The situation was immediately brought under control by a team of security personnel from Lapai.

However, Zagazola learnt that the situation escalated on Friday morning when supporters of both camps clashed again, leading to a free-for-all fight that disrupted public peace in the community.

Security sources were swiftly deployed to Muye to restore normalcy.

“The combined security teams have brought the situation under control. Monitoring and surveillance operations are ongoing to prevent further breakdown of law and order,” the source said.

No casualties or arrests have been officially confirmed as of the time of filing this report.

Chieftaincy dispute causes chaos in Muye village in Niger

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Eid-el-Kabir: IPCR Calls on Nigerians to Peace, Harmony

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Eid-el-Kabir: IPCR Calls on Nigerians to Peace, Harmony

By: Michael Mike

Institute for Peace and Conflict Resolution (IPCR) has called on Nigerians to promote peace and harmony in their communities, recognizing that peace is essential to national development and progress.

The advice was given by the Director General of the Institute for Peace and Conflict Resolution (IPCR), Dr. Joseph Ochogwu, in his message on Eid-el-Kabir.

The Institute, while extending warm greetings to Nigerians, wished them a joyous and peaceful celebration, marked by love, compassion, and unity.

The Institute while noting that Sallah is a significant occasion in the Islamic calendar, symbolizing the values of sacrifice, gratitude, and community, emphasized that the spirit of Sallah should guide Nigerians in their interactions with one another, fostering a culture of peace, tolerance, and understanding.

The IPCR urged Nigerians to promote peace and harmony in their communities, recognizing that peace is essential to national development and progress, while
encouraging individuals to embrace the values of Sallah, including forgiveness, empathy, and kindness, in their daily lives.

According to IPCR, peace is critical to promoting national stability and cohesion.

The Institute also urged Nigerians to use this period of Sallah celebration to address conflicts and promote dialogue, which could help to build trust and understanding among Nigerians and also contribute to a more peaceful society.

It recognized that the country’s many ethnic and religious groups can work together to build a more harmonious society, celebrating their differences and promoting a culture of tolerance.
End

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