Matrix Group Boss, Adisa Aliu, Joins Commonwealth Enterprise and Investment Council
The Group CEO of Matrix Group, Abdulkabir Adisa Aliu has joined in partnership with the Commonwealth Enterprise and Investment Council (CWEIC) as strategy to create a sustainable niche market for crude by working toward having guaranteed and steady crude supply just like other international oil trading companies.
In recent reports, the two business giants have entered into a partnership after having satisfied the requirements they each set for themselves. By every indication, Aliu and his Matrix Group will have a stronger base from which to run their business operations, which is the same as saying that Matrix Group has levelled up and is no longer in the same league as its peers.
Matrix began to pursue this strategy in 2019 by participating in Project Eagle which was concluded in July 2020 where we invested our equity in order to have 15,000 barrels of crude oil per day for a period of 5 years, in July 2020 Matrix in conjunction with VITOL successfully secured a 5 yr. term contract as an Off- Taker lender with NNPC ( Project Eagle) which grants us access to 30,000bopd thus allowing Matrix as an indigenous African Trader to further expand its space and play in a space hitherto dominated by International Traders.
It has been a while since Aliu made a strong move in the business and entrepreneurial circles many of their associate might have already begun to assume that the high-tier industrialist was taking a break from oil investments and asset procurement.
Recent reports have now revealed that Aliu was only crouching so that he would spring up his Matrix Energy Company; and reach a level worthy of the notice of the Global Advisory Council with CWEIC in tow.
It was CWEIC that announced Aliu’s partnership with the Global Advisory Council. For those who know nothing about the CWEIC, it is a non-profit organization with a vast web of connections. It has more than 50 Commonwealth member nations as partners and doubles that number of innovative businesses with which it runs a joint global venture.
Matrix Energy Group is a rapidly growing indigenous and integrated Oil Marketing and Trading Company in Nigeria which was incorporated November 25, 2004.
Of course, those that are familiar with the successes of Aliu and his Matrix Energy Group will not be surprised that he was able to catch the global organisation’s attention. Since entering the limelight, Matrix Energy has grown to become one of the most accomplished indigenous oil companies in Nigeria. Its interest in petroleum-product marketing and distribution has shown it to be a radical and forward-moving company, no less than the big guys on the global front.
Lagos Task Force dislodges Ikorodu roadside traders
In its continuous efforts to rid the state of the menace of street trading, operatives of the Lagos Environmental Sanitation Corps and the Kick Against Indiscipline, on Tuesday, dislodged roadside traders around Aunty Kenny in the Agric area of Ikorodu.
A statement by the Lagos State Ministry of the Environment and Water Resources said the dislodgement was part of measures to sustain zero tolerance for street trading in the state.
It read, “Operatives from the LAGESC/KAI on Tuesday dislodged recalcitrant street traders on the kerb at Aunty Kenny Agric on lkorodu Road as part of measures to sustain the zero tolerance for street trading.”
Similar enforcements were carried out on Monday at Oshodi-Mushin Road, Ojuelegba Road, Yaba-Muritala Muhammed Way, Oyingbo under the newly constructed bridge, inner and outer Marina-CMS, Victoria lsland and Lekki areas of the state, following directives of the Commissioner in the ministry, Tokunbo Wahab.
According to a statement, many of the defaulters were arrested in the course of enforcement and taken to the LAGESC/KAI headquarters where they were handed over to the appropriate section for interrogation and prosecution.
The commissioner also gave directives to operatives of LAGESC/KAI and other related agencies to sustain the dislodgment and ensure that the traders do not return to the areas
FirstBank UK Adopts Bloomberg TOMS to Optimize Fixed Income Workflow
London, 28 November 2023 — Bloomberg announced today that FirstBank UK Limited (FirstBank UK), the UK subsidiary of First Bank Nigeria Limited, the premier West African bank, has adopted Bloomberg’s Trade Order Management System (TOMS). By integrating TOMS into its workflow, FirstBank UK will have access to a comprehensive suite of data and analytics, communications, as well as order and execution management solutions, enabling it to streamline its fixed income bonds business.
FirstBank UK is a niche market-maker to its customers in Africa. The business provides market liquidity in cash bonds, primarily in Nigerian, Angolan, Egyptian and Ghanaian Eurobonds to manage risk and optimize its inventory. Thanks to Bloomberg’s coverage, TOMS enables the trading desk of FirstBank UK to support its client base and to monitor its positions, profit and loss (P&L) and Risks.
“By integrating with our existing systems, Bloomberg TOMS provides FirstBank UK with a complete end-to-end trading workflow covering African bonds in most of our home markets,” said Olukorede Adenowo, CEO-designate at FirstBank UK.“ The solution enables us to focus on expanding our footprint in the African Fixed Income landscape and deliver a first-in-kind service to our customers in Africa.”
“We are pleased to help FirstBank UK enhance operational efficiency across its enterprise with our award-winning sell-side order management solution TOMS,” said Lisa Bravo, Global Head of Sell-Side OMS at Bloomberg. “TOMS empowers firms to create a seamless workflow from their front and middle-office, through to their operations and enterprise applications, while concurrently delivering their front office users with real-time execution, risk and P&L analytics.”
FirstBank UK has further digitized its order management workflow by offering clients access to liquidity on its own Eurobond Single-Dealer Platform. The application has been integrated with Bloomberg TOMS to centralize both order handling and aggregated custom analytics and liquidity tools within a single interface, to be hosted and connected to multiple trading venues. “The integration of TOMS with our custom-built electronic trading platform, allows our customers real-time access to liquidity in our markets, something unique to the majority of our customers,” said Robert Hagenaars, Head of Markets at FirstBank UK.
For additional information about Bloomberg’s sell-side solutions, please click here.
About Bloomberg
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