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InfraCorp: CBN, partners extend deadline for expression of interest by asset manager

The CBN has extended the deadline for expressions of interest for appointment as asset manager for InfraCorp.

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The Central Bank of Nigeria (CBN) and its partners have extended the deadline with respect to call for expressions of interest for appointment as independent infrastructure asset manager for the Infrastructure Corporation of Nigeria Limited (InfraCorp).

The promoters of the InfraCorp extended the deadline by 2 weeks from 12-noon Nigerian time on March 16, 2021, to 12-noon Nigerian time on March 30, 2021.

This disclosure is contained in a communique titled ‘Extension of the deadline with respect to call for expressions of interest for appointment as independent infrastructure asset manager for the Infrastructure Corporation of Nigeria Limited’, that was issued and signed on behalf of the promoters by Dr Kingsley Obiora.

READ: FG moves to appoint fund manager for $37 billion infrastructure company

What the CBN and its partners are saying in the communique

The communique from the promoters reads, “Reference is made to the request by the promoters (the Central Bank of Nigeria, the Africa Finance Corporation, and the Nigeria Sovereign Investment Authority), for expressions of interest from qualified asset managers active in the infrastructure sector to manage the Infrastructure Corporation of Nigeria Limited.

“This communique is to convey an extension to the deadline for receipt of final proposals in response to the detailed Request for Proposals from 12noon Nigerian time on 16 March 2021 by two weeks to 12noon Nigerian time on 30 March 2021.

“The process remains the same such that upon expression of interest through [email protected], the promoters shall share a detailed RfP document providing potential asset managers with the necessary information to prepare appropriate proposals in line with the promoters’ requirements.”

READ: Buhari approves the establishment of Infra-Co with initial seed capital of N1 trillion

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READ: CBN introduces ‘Naira 4 Dollar Scheme’ for diaspora remittances

What you should know

  • It can be recalled that President Muhammadu Buhari, had earlier approved the government’s seed capital of N1 trillion for InfraCo, an infrastructure company, which will be wholly focused on critical infrastructure investment in the country, under a Public-Private Partnership.
  • The President had said that InfraCo will be raising funds from the CBN, Nigeria Sovereign Investment Authority, Pension funds, and local and foreign private sector development financiers.
  • The Federal Government had in February announced plans to engage an asset manager for its newly set up Infrastructure Company of Nigeria Ltd. (Infra-Co), which is being promoted by the CBN, AFC and the Nigerian Sovereign Investment Authority, to raise about N15 trillion ($36.7 billion) for projects and accelerate growth in Africa’s biggest economy.

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Chike Olisah is a graduate of accountancy with over 15 years working experience in the financial service sector. He has worked in research and marketing departments of three top commercial banks. Chike is a senior member of the Nairametrics Editorial Team. You may contact him via his email- [email protected]

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Business

NPA suspends Electronic Call-up for trucks at APM terminal, Apapa

This follows a fallout of the dispute between members of the Maritime Workers Union and the management of AP Moller Terminals.

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 Onitsha River Port Set To Receive 1000 Containers from Lagos Next Week

The Nigerian Ports Authority (NPA) has announced the suspension of the Electronic Call-up for trucks (ETO) for cargoes bound for the AP Moller Terminal (APMT) in Apapa.

This follows the disruption of operations at the terminal which is a fallout of the dispute between members of the Maritime Workers Union and the management of AP Moller Terminals.

This disclosure is contained in a series of tweet posts by NPA on its official Twitter handle on Thursday, April 15, 2021.

The NPA said that while it is working towards resolving the dispute between both parties, APMT will not receive or exit cargoes for the next 24 hours.

The tweet from NPA reads, ”Following a dispute with the management of AP Moller Terminals at the Lagos Ports Complex, Apapa, members of the Maritime Workers Union have today, April 15, disrupted operations at the terminal.

While the NPA is working toward resolving the dispute between the two parties, APMT will not be able to receive or exit cargoes for the next 24 hours.

The authority hereby urges stakeholders to please take note, as ETO tickets will not be issued to APMT bound cargoes.’’

What you should know

  • There were earlier reports that the Maritime Workers’ Union of Nigeria (MWUN) on April 15 shut down AP Moller Terminal (APMT) in Apapa.
  • The President-General of MWUN, Mr Adewale Adeyanju, disclosed that the grounding of activities at the terminal is due to the expiration of the one week plus notice given to the management of the terminal to adhere to the laws of the land.

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NCC issues NIN enrollment guideline for foreigners living in Nigeria

All legally resident foreigners are required to obtain a NIN just like Nigerian citizens.

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Nigerian Communication Commission (NCC) has issued NIN enrollment guidelines for foreigners living in Nigeria.

According to NCC, all persons in Nigeria who use mobile networks are required to register their SIM cards and link them with the NIN database.

This was disclosed by the commission via its Twitter handle on Thursday.

READ: Here are 6 directives NCC gave MTN, Airtel, others on SIMs without NIN

It tweeted, “All persons in Nigeria who use mobile networks are required to register their SIM cards and link them with the NIN database.

All legally resident foreigners (i.e. non-Nigerians living and working in Nigeria) are to obtain a NIN just like Nigerian citizens. They can do this by submitting valid resident/work permits at NIMC enrolment centres.

However, foreigners on tourist or visiting visa are to tender their international passports to acquire a SIM. But where such a visiting foreigner or tourist’s immigration status changes to residency or work permit, he/she will be required to obtain NIN and link the registered SIM.”

READ: Beware of fake NIN app, NIMC warns Nigerians

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It added that the NIN does not confer citizenship on foreigners but only serves to identify a person (citizens and legal residents).

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