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Lagos Govt Generates N127bn In Q1 Of 2021


 
The Lagos State Government says it has recovered 1.2 billion naira in excess bank charge over the period of six years and generated 127 billion naira Internally Generated Revenue in the first quarter of the year 2021.
The Commissioner for Finance, Mister Rabiu Olowo made this known at the state ministerial briefing ahead of Governor Babajide Sanwo-Olu’s two years anniversary.
Mr. Olowo says the year 2020 ended with 88 percent budget performance, with a capital recurrent expenditure of 56:44%.
The expenditure performance for the first quarter of the year 2021 stands at 69% with a Capital Expenditure Ratio of 42:58%.
To achieve efficiency and reduced Cost of Fund, the commissioner also says the State successfully re-negotiated its existing debt obligation from 19% to 14% and further down to 12% which brought about N8.9bn savings. ....

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Voyager Aviation Holdings Completes Out-Of-Court Exchange, Announces New Ownership, Board, and Rebrand


Press release content from Business Wire. The AP news staff was not involved in its creation.
Voyager Aviation Holdings Completes Out-Of-Court Exchange, Announces New Ownership, Board, and Rebrand
May 10, 2021 GMT
Voyager Aviation Holdings, LLC (“
VAH ” or the “
Company ”), a leading global aviation investment firm, announced today that it has completed its previously announced exchange offer, with holders of a definitive 98.49% of the Company’s existing unsecured notes due 2021 and all of the Company’s equityholders supporting the transaction. The out-of-court transaction transfers majority ownership to a marquee investor group and enables Voyager to pivot to growth at an opportune time as the aviation industry recovers from the impact of COVID-19. In addition to the conclusion of the exchange offer, the Company is pleased to share an official logo redesign and rebranding to VAH. ....

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