Finally, AMCON Sells Keystone Bank for N25bn to New Investors Former Sigma Pensions CEO, Modibbo, part of consortium Obinna Chima The Asset Management Corporation of Nigeria (AMCON) yesterday announced Sigma Golf
Nigeria Limited and Riverbank Investment Resources Limited (the Sigma Golf-Riverbank consortium) as the new investors that have acquired
the entire issued and fully paid up ordinary shares of Keystone Bank Limited, formerly BankPHB Plc. This followed the receipt of the necessary regulatory
approvals from the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC). AMCON in a statement yesterday explained that
the completion of the transaction was subject to the fulfilment of the conditions precedent as stated in the Share Sale and Purchase Agreement
(SPA) executed between AMCON and the Sigma Golf-Riverbank consortium. Continued on page 8
Naira Sustains Gains on Parallel Market as CBN Auctions $180m… Page 10 Tuesday 21 March, 2017 Vol 22. No 8006. Price: N250
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TODAY'S WEATHER
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Adeosun Gives Conditions for Further Release of Paris-London Clubs Refunds
Payments subject to the current and projected cash flows of the federation Final refunds to be released after reconciliation with states To publish information on refunds Col Umar asks FG to suspend payments over high consultancy fees Ndubuisi Francis in Abuja The Minister of Finance, Mrs. Kemi Adeosun, yesterday doused the expectations of the 36 state governors on the further release of ParisLondon Clubs refunds to the states, making it clear that any further payments was dependent on the current
and projected cash flows of the federation. She also said that the complete and final refunds would only be released and published after each state and the federal government have reconciled and agreed on the sums due. Continued on page 9
Mohammed Abacha, Pecos Energy Ask Court to Declare Them Owners of Malabu Oil
Alex Enumah in Abuja
There seems to be no end in sight to the issues arising from the Malabu Oil deal, as some stakeholders in the company yesterday filed a fresh law suit against the federal government, Shell,
Agip and seven others over the alleged illegal transfer of their stake in Oil Prospecting Licence (OPL) 245, which was once held by Malabu Oil and Gas Limited before its eventual sale to Shell and Agip. Continued on page 8
30 Killed as Unknown Gunmen Attack GRATITUDE FROM THE OGBEMUDIA FAMILY… Son of the late Brig.-Gen. Samuel Ogbemudia, former Governor of the Old Mid-Western State and later Bendel State, Zaki Ibiam Town in Benue… Page 10 L-R: Samuel Ogbemudia Junior, presenting a thank you letter to Edo State Governor, Godwin Obaseki, in Benin City... yesterday