15th time winner! Zenith Bank retains Number One in Nigeria by Tier-1 Capital

For the fifteenth consecutive year, Zenith Bank Plc has retained its position as the Number One Bank in Nigeria by Tier-1 Capital in the 2024 Top 1000 World Banks’ Rankings, published by The Banker Magazine. This ranking places Zenith Bank Plc as the 565th Bank globally with a Tier-1 Capital of $2.01 billion. The rankings, published in the July 2024 edition of The Banker Magazine of the Financial Times Group, United Kingdom, recognise Zenith Bank’s continued financial strength and stability. They are based on the 2023 year-end Tier-1 capital of…

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With ‘Giants Campaign’ FirstBank truly woven into the fabric of society

WITH GIANTS CAMPAIGN, FIRSTBANK IS TRULY WOVEN INTO THE FABRIC OF SOCIETY The ‘Giant in you’ campaign of the FirstBank has again confirmed the common expression that ‘apple doesn’t fall far from the tree’ given the history of the financial brand and its legendary relevance to the growth of enterprises, within and outside Nigeria. In its usual creative conjecture, 13O-year-old FirstBank, has hit the airwaves and other media outlets with various visuals to articulate its new campaign ‘The Giant in You’. Breaking down the central message, ‘there is a giant…

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Students Loan: Recipients to get alerts next week -NELFund boss, Sawyerr

The Managing Director of the Nigerian Education Loan Fund (NELFUND), Akintunde Sawyerr, has said that successful applicants will start receiving alerts from next week. He said over 110,000 students had successfully applied for the loan, noting that it would only be disbursed to students who have started their session. Sawyerr, who stated this during an interview on Channels TV’s Politics Today, said other students would receive alerts as soon as their sessions start. He said, “Over 110,000 students have successfully applied for student loans. They have been verified as eligible…

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MTN Nigeria targets 40m MoMo wallets in 2025, plans largest fintech group

MTN Nigeria has set a target to build the largest fintech platform in the country, aiming to reach 30 to 40 million active MTN MoMo wallets by 2025. This was disclosed in its sustainability report filed with the Nigeria Exchange Limited on Tuesday. The report reads: “MTN Nigeria has set a target of building the largest and most valuable fintech platform in Nigeria with 30-40 million active MTN MoMo wallets by 2025,” the report stated. According to the report, in alignment with the Central Bank of Nigeria’s legal requirements, the…

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Group alleges fraud against ex- Unity Bank chairman, Etuh, asks EFCC to arrest, investigate him

An anti-corruption organisation, the Global Integrity Crusade Network (GICN) has petitioned the Economic and Financial Crimes Commission (EFCC) to arrest and investigate former Unity Bank Chairman, Thomas Akoh Etuh, for various alleged offences. The petition, signed by GICN Chairman, Board of Trustees, and President, Edward Omaga, dated 11th of July alleged that Etuh committed the offences during his tenure as Chairman of Unity Bank’s Board of Directors between January 23, 2015, and October 4, 2017. According to the petition, Etuh’s actions allegedly led to a significant increase in non-performing loans…

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UBA launches legacy promo to celebrate 75th anniversary, to splash N200m on customers

In line with its custom of rewarding loyalty, Africa’s Global Bank, United Bank for Africa (UBA) Plc, is set to launch the “UBA Legacy Promo” as part of activities to mark its 75th year anniversary. This landmark campaign has been specially designed by the bank to celebrate UBA’s rich legacy spanning over 75 years, as well as the bank’s longstanding commitment towards rewarding its loyal customers in a grand style. The UBA Legacy Promo which will run for a period of six months beginning from July 2024, will see the…

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ECOBANK sacks 150 staff, paid compensation below industry standard

Friday, December 22, 2023, was a sad day for more than 150 Ecobank workers across different units and branches in Nigeria, as the bank disengaged them without clear reasons. Some of the workers told FIJ that what Ecobank gave them as severance pay in February was significantly less than expected, considering their long years of service to the bank. FIJ learned that although the affected workers, who had worked for 10 to 22 years, were told to pick up their termination letters on December 22, the termination took effect on…

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Finally, UK based Nigerian gets access to N373k deposited in Wema bank after eight months

Alat by Wema has granted access to a Nigerian woman in the United Kingdom who could not access the N373,000 in her account for eight months. This development happened on Monday evening, 24 hours after FIJ reported about the lady’s frustration with the bank. She told FIJ on Tuesday that the issue had been resolved and she could access her money, adding that she was grateful for FIJ’s intervention. “I am so thankful for your publication. Not too long after I saw it on Monday, I realised I could access…

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How Wema Bank’s ALAT blocked UK based customer from accessing N373,000 for 8 Months

A Nigerian based in the United Kingdom has accused Alat by Wema of deliberately frustrating her by refusing to allow her access to her N373,000 for more than eight months. The woman, who prefers to be anonymous, told FIJ that she kept writing to the bank, asking them to help her update her National Identification Number (NIN) to withdraw her funds but it had yielded no success. She said that her frustration started in October, when she wanted to withdraw some funds but could not do so because her account…

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World Finance Banking Awards 2024: Again Zenith Bank emerges best commercial bank, corporate governance in Nigeria

Zenith Bank Plc has emerged as the Best Commercial Bank, Nigeria in the World Finance Banking Awards 2024, retaining the award for a fourth consecutive year. The bank was also named as Best Corporate Governance, Nigeria for the third year running in the World Finance Corporate Governance Awards 2024. The awards, which were published in the Summer 2024 Issue of the World Finance Magazine, are in recognition of the bank’s robust financial performance, superior customer service, sustainability initiatives and corporate governance practices. Commenting on the dual honours, the Group Managing…

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NOVA Bank begins operation as a national bank, introduces PHGITAL to increase customers’ experience

NOVA Bank, formerly known as NOVA Merchant Bank, has officially commenced operations as a National Commercial Bank, as the bank opened its first commercial banking branch at 18, Kofo Abayomi Street, Victoria Island. This follows the Central Bank if Nigeria’s (CBN) approval of the final license for the Bank to commence operations as a National Commercial Bank. Apart from the newly opened branch in VI, the Bank announced that additional branches in Lagos, Abuja, Port Harcourt, and Kano, will follow shortly. Speaking on the commencement of its commercial banking operations,…

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Dangote cries out over CBN’s 30% interest rate, asks FG to protect existing businesses

Chairman of the Dangote Group, Aliko Dangote, has criticised the hike of interest rate to almost 30 per cent by the Central Bank of Nigeria (CBN). Speaking at the Banquet Hall of the State House, Abuja, during the opening session of a three-day summit organised by the Manufacturers Association of Nigeria (MAN), on Tuesday, he said with the present interest rate regime, it will be difficult to create jobs. He added that it would also be tough for the manufacturing industry to grow and compete favorably. Dangote, who also called…

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GTCO Announces 2024 Autism program themed “A Spectrum of Possibilities”

Guaranty Trust Holding Company Plc (“GTCO” or “the Group”) has announced dates for the 2024 GTCO Autism Program and follow-up consultations. This year’s program is themed “A Spectrum of Possibilities” to promote inclusivity, self-advocacy, and empowerment for persons on the Autism Spectrum. The theme A Spectrum of Possibilities aligns with GTCO’s commitment to diversity, equity, and inclusion, and its goal of creating a society where everyone can thrive and reach their full potential, regardless of their background or abilities. The theme acknowledges and celebrates this diversity, recognizing that each person…

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FirstBank powers Nigeria’s digital lending charge with FirstCredit

In the fast-evolving world of digital banking, Nigeria stands on the brink of a financial revolution. As the global pandemic has accelerated digitalization, the need for accessible, efficient, and reliable financial services has never been more crucial. FirstCredit by FirstBank emerges as a groundbreaking digital lending solution designed to meet the demands of Nigerians where the need for quick cash is ticking ever northward. The shift towards digital banking in Nigeria has been both rapid and transformative. With the increasing penetration of mobile phones and internet access, more Nigerians are…

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Why we are having difficulties paying Heritage bank customers -NDDC boss

The Nigeria Deposit Insurance Corporation (NDIC) says account names discrepancies in Bank Verification Number (BVN) linked alternate account of some defunct Heritage Bank customers is delaying the payment of their insured deposits. Mr Bello Hassan, the Managing Director of NDIC told the News Agency of Nigeria (NAN) on Sunday in Abuja. Hassan said the corporation had paid substantial amount to depositors of the defunct bank without BVN account linked issues. He called on depositors of the bank who were yet to receive their insured deposit credit alert to visit the…

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Union Bank gets court order to freeze Swift Networks MD accounts over unpaid debts

The bank accounts of Swift Networks Limited and its managing director, Charles Anudu, have been frozen by a Federal High Court sitting in Lagos. The court granted Union Bank interim injunction restraining Swift Networks Limited and its agents from accessing funds and assets in banks pending determination of a Motion on Notice in an alleged debt recovery suit. Justice Yelim Bogoro issued the order on June 19, following a June 11, ex-parte application filed and argued by Gbenga Akinde, counsel for the plaintiff/applicant, Union Bank. Union Bank listed Swift Networks…

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Otedola consolidates on FBNH shares aquires fresh N17. 2bn shares

Billionaire businessman, Femi Otedola, chairman of FBN Holdings Plc, FBNH, has increased his stake in the compny with an additional 2.22 percent shares valued at N17.2 billion. The acquisition was disclosed in a corporate filing on the Nigerian Exchange Group (NGX) on Monday. The fresh acquisition further cements the billionaire’s control in the company as his shareholding has now reached 11.63 percent, the highest. According to the NGX filing, Otedola spent N17.2 billion to 797,946,415 shares at 21.58k. The latest acquisition comes just four days after the serial investor increased…

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GTCO rated Nigeria’s strongest and Best Banking Brand in Nigeria

Africa’s leading financial services institution, Guaranty Trust Holding Company Plc (“GTCO” or “the Group”), has added to its impressive haul of accolades as it was recently named Nigeria’s strongest brand and Best Banking Brand in Nigeria by Brand Finance and Global Brands Magazine, respectively. These awards not only reaffirm GTCO’s position as a leading financial services group but also spotlights the Group’s enduring reputation as a customer-focused brand. Over the years, GTCO has demonstrated remarkable commitment to shaping the future of financial services in Africa and is renowned for its…

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EXCLUSIVE: Police probe Providus Bank, officials, others for alleged N1.1bn scam

The police in Abuja is currently investigating the involvement of Providus Bank Limited, some of its officials and another commercial bank in an alleged N1 billion fraud scam, THE WITNESS reports. THE WITNESS learnt that bank officials are being quizzed following a transfer of about N1 billion by a bureau de change operator in Abuja, Shamsudeen Ahmed through the banks to suspected criminals, who reportedly offered to sell $1 million from Dubai to him and the mysterious disappearance of the huge sum of money. It was learned that detectives are…

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FirstBank confirms Alebiosu as CEO

First Bank of Nigeria Limited has confirmed the appointment of Olusegun Alebiosu as the substantive Managing Director and Chief Executive Officer (CEO) of the bank. Updating the Nigerian Exchange Group about recent developments within the bank, the company’s Secretary, Adewale Arogundade, mentioned in a notice on Wednesday that Alebiosu’s appointment is subject to the approval of the Central Bank of Nigeria (CBN). Before his new appointment, Alebiosu was acting Managing Director of the bank since April 2024, when the former MD, Adesola Adeduntan, resigned. Labour, private sector operators bicker over…

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Fidelity Bank chairman, Chike-Obi advocates continental unity and economic integration

In a conversation with Kenneth Igbomor of CNBC Africa, Mustafa Chike-Obi, Chairman of Fidelity Bank Plc, emphasized the need for Africa to unite and collaborate for economic prosperity. “Africa must work together, leveraging our collective strengths to compete globally,” Chike-Obi asserted. He highlighted the significance of the African Continental Free Trade Area (AfCFTA) in driving sustainable development, stating, “True economic growth will only come from integration and shared efforts.” Watch the full interview here: https://www.cnbcafrica.com/media/6355014775112/chike-obi-africa-needs-to-be-competitive-/

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How Isa Funtua wrecked Keystone Bank, collects N28bn loan through fake companies

Abubakar Isa Funtua, son of late businessman and publisher, Mallam Ismaila Isa Funtua, has been arrested by the Economic and Financial Crimes Commission, EFCC, over alleged N28 billion fraud. The late Isa Funtua was ex-President Buhari’s very close confidant, long-time friend and associate.” Abubakar is currently being interrogated by the operatives of the anti graft agency over his involvement in a N28 billion alleged scam. Abubakar and his Ugandan business associate, Asega Aliga, are accused of embezzling N28 billion from Keystone Bank and fleeing the country. Operatives of the anti-graft…

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SEC warns Nigerians over Davido’s crypto token

The Federal Government has warned Nigerians against investing in the crypto token of music star, David Adeleke, better known as Davido. Last month, Davido announced the launch of the crypto token or memecoin inspired by himself. The digital currency, known as “Timeless Davido” ($DAVIDO), sparked excitement among the singer’s fans and supporters. Davido worked with the main blockchain platforms Phantom and Solana to complete the proposal. Initially, $DAVIDO skyrocketed, hitting a market cap of $10 million in four hours and gaining momentum on DEX Screener. The jubilation was however short-lived,…

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Fidelity Bank Plc Promotes 11% of Staff Following Record Financial Performance

Leading financial institution, Fidelity Bank Plc has announced the promotion of 11% of its workforce, a testament to the exceptional performance and dedication of its employees. This significant move follows the release of the bank’s 2023 full year Audited Financial Statements, which reported an impressive 131.5 percent growth in Profit Before Tax (PBT) to N124.26 billion. The recent promotions span every level within the bank, reflecting Fidelity Bank Plc’s commitment to recognizing and rewarding excellence across its entire organization. This strategic initiative has garnered positive reactions from staff members, who…

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FirstBank partners International Women’s Society to empower women

First Bank of Nigeria Limited has partnered with the International Women’s Society (IWS) to empower over 250 widows, in commemoration of the 2024 International Widows’ Day. The News Agency of Nigeria (NAN) reports that beneficiaries at the Lagos event, tagged “IWS Widows Feast and Empowerment Programme”, received various essential tools, equipment and grants. The items distributed were sewing machines, freezers, coolers, hair dryers, cake mixers, industrial cooking gas, generators, and freezers to help the widows establish and sustain their businesses. Ms Lande Atere, Chief Customer Experience Officer, FirstBank, said that…

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A failed attempt to trigger a run on banks

As market sentiment remains highly volatile and driven by news flow, banks liquidity levels can become vulnerable due to spread of inaccurate information. As Nigerian banks put finishing touches to their recapitalisation plans as directed by the Central Bank of Nigeria (CBN), industry watchers have seen how social media mercenaries and their hirelings are deliberating distorting the truth and pushing campaigns that spread false information which could result in deposit outflows from their targeted banks. Earlier this month when the Central Bank of Nigeria (CBN) revoked the banking licence of…

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MIPAD names Onyeali-Ikpe among Global Top 100 Trade Champions of African Descent Worldwide

Nigeria – In acknowledgment of her outstanding impact on global trade, Dr. Nneka Onyeali-Ikpe, the Group Managing Director and Chief Executive Officer of Fidelity Bank Plc, has been recognized as one of the honorees in the 2024 Most Influential Global Top 100 Export and International Trade Edition. Themed, “Championing the Vision of Global Africa as a Unified Economic Block and Single Market,” the initiative which was announced on May 25, 2024 in celebration of Global Africa Day, lists several leaders in the global trade space of African descent, including the…

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How Emefiele disobeyed Buhari over Naira redesign -Ex CBN Director

Godwin Emefiele, former governor of the Central Bank of Nigeria (CBN), has been accused of printing naira notes different from the design approved by former President Muhammadu Buhari. Ahmed Umar, a former director of currency operations at the apex bank, testified before a federal capital territory (FCT) high court in Abuja on Tuesday. Umar said the CBN Act requires that recommendations be made from the board of directors to the president for approval on the form of design and device in any currency. The witness told the court that the…

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GTCO NOTICE OF PROPOSED OFFERING

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL LAGOS, Nigeria, June 11, 2024. This notice is issued in reliance on Rule 283 of the Rules & Regulations of the Securities & Exchange Commission, Nigeria. This notice does not constitute an offer to sell or the solicitation of an offer to buy any securities. Any offer, solicitation or offer to buy, or any sale of securities will be made only by a prospectus…

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Fidelity Bank leads trading as equities gain N324b

Fidelity Bank Plc was the most active stock on Monday, 10 June 2024 at the Nigerian stock market as a strong positive sentiment led Nigerian equities to a net capital gain of N324 billion in the first trading session of the week. The market opened with widespread positive sentiment as investors sought to lock into value stocks in the high-end sectors of oil and gas, construction and manufacturing. With three gainers for every loser, the market closed with average return of 0.58 per cent, equivalent to net capital gain of…

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FIRSTBANK WINS 2024 BEST SME BANK IN NIGERIA AND BEST SME BANK IN AFRICA BY ASIAN BANKER AWARDS

Nigeria’s premier financial institution and financial inclusion services provider has bagged two awards: Best SME Bank in Africa and Best SME Bank in Nigeria at the highly converted Asian Banker Global Excellence Retail Awards 2024. The Excellence in Retail Finance Awards Programme, which includes the Global Excellence in Retail Finance Awards and The Annual Digital Bank Awards, is one of the most established awards of its kind, recognising exceptional innovation, leadership, management, and performance in the financial sector. The 130-year-old institution bagged these two awards because of its full suite…

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The Remarkable Journey of Access Holdings

This year marks 22 years since two young Nigerian bankers – AigbojeAig-Imoukhuede and Herbert Wigwe – bought a small, nondescript bank and turned it into one of the biggest financial institutions on the continent with footprint also established in Europe and Asia. It was on March 22, 2002, that the two walked into Plot 1669 Oyin Jolayemi Street, Victoria Island, Lagos, which was then the corporate headquarters of the bank to assume duty and full control as the Managing Director and Deputy Managing Director. The acquisition process had taken about…

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Fidelity Bank shops for N127.1bn combined offer to increase share capital base

Fidelity Bank Plc has concluded all necessary arrangements to raise a total of up to ₦127,100,000,000.00 (One Hundred Twenty-Seven Billion, One Hundred Million Naira) by way of a Rights Issue to existing shareholders and a Public Offer (the “Combined Offer”). The Combined Offer is a part of the Bank’s strategy to increase its share capital base in compliance with the revised minimum capital requirements for Nigerian commercial banks introduced by the Central Bank of Nigeria (“CBN”) on 28 March 2024. Overall, the Bank expects that the capital raised would support…

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NDIC begins Heritage Bank’s liquidation, to pay N5m insured amount

The Nigeria Deposit Insurance Corporation said it has commenced the liquidation of Heritage Bank Plc. NDIC assured all that it would pay depositors of the failed bank N5 million insured deposits. In a statement on Monday, the corporation’s Director of Communication and Public Affairs, Bashir Nuhu said the liquidation is in accordance with Section 55 Sub-sections 1 & 2 of the NDIC Act 2023. The statement reads, “Following the revocation of the banking licence of Heritage Bank Plc by the Central Bank of Nigeria (CBN) today, June 3, 2024, and…

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At last, CBN revokes ailing Heritage Bank’s licence

After years of hanging on thread, Nigeria’s banking regulator, the Central Bank of Nigeria has revoked the banking license of Heritage Bank Plc, effective immediately. This decision was made due to the bank’s failure to improve its financial performance, posing a threat to financial stability. The apex bank’s Acting Director of Corporate Communication Department, Sidi Ali, disclosed this in a statement on Monday. According to the CBN, the bank’s management has been unable to stem the decline despite various supervisory steps taken by the regulator. With no reasonable prospects of…

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Zenith Bank wins ‘Nigeria’s Most Sustainable Bank’ at Int’l Bankers Award for second consecutive year

ZENITH BANK RECOGNISED AS THE MOST SUSTAINABLE BANK IN NIGERIA FOR THE SECOND TIME IN THE INTERNATIONAL BANKER AWARDS 2024 Zenith Bank Plc has been named the “Most Sustainable Bank, Nigeria” in the International Banker 2024 Banking Awards, retaining the title for the second consecutive year. Commenting on the award, the Group Managing Director/Chief Executive Officer of Zenith Bank, Dame (Dr.) AdaoraUmeoji, OON, said: “We are deeply honoured to be recognised as the Most Sustainable Bank in Nigeria for the second time in a row. This prestigious award underscores our…

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Q1 2024: FBNHoldings maintains impressive performance, posts N238.53bn PBT

By Kayode Tokede FBN Holdings Plc declared N238.53 billion profit before tax (PBT) in its unaudited first quarter (Q1) ended March 31, 2024 results, which was about 325.2percent growth from the N56.1 billion reported in Q1 ended March 31, 2023. The Q1 2024 results was a reflection of 2023 impressive performance as one of the oldest banks in Nigeria sustained its fundamentals amid domestic and foreign challenges. From its Q1 2024 profit & loss figures, the Group declared N208.1 billion profit, which was about 315.8 per cent compared with the…

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Q1 2024: FirstBank maintains impressive performance, posts N238.53bn PBT

FBN Holdings Plc declared N238.53 billion profit before tax (PBT) in its unaudited first quarter (Q1) ended March 31, 2024 results, which was about 325.2percent growth from the N56.1 billion reported in Q1 ended March 31, 2023. The Q1 2024 results was a reflection of 2023 impressive performance as one of the oldest banks in Nigeria sustained its fundamentals amid domestic and foreign challenges.  From its Q1 2024 profit & loss figures, the Group declared N208.1 billion profit, which was about 315.8 per cent compared with the N50.1 billion reported in…

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On Africa Day: Access Holdings Celebrates Africa’s greatness, innovations and achievements

In line with the theme for the 2024 celebration of Africa Day, “Educate an African Fit for the 21st Century: Building Resilient Education Systems for Increased Access to Inclusive, Lifelong, Quality, and Relevant Learning in Africa”, Access Holdings is celebrating the positives across the continent. This year’s theme is a poignant reminder of Africa’s diversity and the need to address the educational challenges faced across the continent.   Africa is a vast and complex continent of over 1.2 billion people speaking more than 3,000 languages across 54 countries. Despite shared…

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Access Bank ranked as Nigeria’s ‘Most Valuable Brand’ by Brand Finance

Access Bank has once again been recognised as Nigeria’s most valuable brand, according to the latest data from Brand Finance. The 2024 report reveals a remarkable 73% increase in Access Bank’s brand value, solidifying its position as the most valuable banking brand in Nigeria. This marks the third consecutive year that Access Bank has held the top spot in Brand Finance’s annual ranking of the world’s Top 500 Banking Brands.   Brand Finance, the world’s leading brand valuation consultancy, reported that banking brands contributed a substantial 50% of the overall…

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Zenith Bank brightens Ajose Adeogun Roundabout with ultra modern digital display

Zenith Bank Plc, on Thursday, 30th May 2024, launched a state-of-the-art digital/LED screen at Ajose Adeogun Roundabout, solidifying its commitment to innovation and community engagement. The monumental digital installation, an upgrade from its previous LED screen launched in 2013 at the same location, features a resolution of 3936×960 pixels compared to the previous 1024×256 pixels. Measuring 6.4×6.4 metres, it represents a significant investment in enhancing the urban landscape while providing a dynamic platform for advertising, information dissemination, and public engagement. Positioned strategically at one of Lagos’ busiest intersections, the screen…

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Ebenezer Onyeagwu wins 2024 Africa’s Banking CEO of the Year at Int’l Banker Awards

The Group Managing Director/Chief Executive Officer of Zenith Bank Plc, Dr. Ebenezer Onyeagwu, has been named the ‘Best Banking CEO of the Year in Africa’ at the International Banker 2024 Banking Awards, retaining this title for the second consecutive year. This award, published in the Spring 2024 issue of International Banker Magazine, United Kingdom, coincides with Dr. Onyeagwu’s completion of his five-year tenure as Group Managing Director/Chief Executive Officer on May 31, 2024. Speaking on receiving the award, Dr. Onyeagwu expressed his gratitude to the publishers of International Banker for the honour. He stated,…

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Access Holdings Calls for Responsible Use of AI at Smart Banking Summit

Access Holdings PLC, a leading financial services group, hasechoedthe need for ethical considerations in using Artificial Intelligence (AI), calling stakeholders in the financial industry to factorits sustainability implications. This call to action was driven by a compelling keynote address delivered by Lanre Bamisebi, Executive Director of IT & Digitalisation at Access Holdings, atthe Smart Banking Summit 2024held in Kenya on Wednesday.   Speaking on the topic,“AI Guardians: Securing Compliance and Mitigating Risks,”Bamisebi’s keynote shed light on the imperative to strike a balance between innovation and responsibility as the banking sector…

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Access Bank Group, Aig-Imoukhuede Foundation pledge $300m to transform Africa’s economic landscape

“We can’t wait to be saved; Africans need to solve Africa’s problems. This $300 million commitment reflects this reality’’ – Aig-Imoukhuede The Aig-Imoukhuede Foundation and Access Bank Group have pledged $300 million in charitable commitments over the next 20 years. Access Bank has committed $200 million and Aig-Imoukhuede Foundation committed $100 million. This will fund African government initiatives with a proven potential to transform national economic performance. Speaking about the commitment, Aigboje Aig-Imoukhuede, Chairman, Access Holdings and Co-Founder, Aig-Imoukhuede Foundation, said, “We can’t wait to be saved, Africans need to…

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EFCC araigns Emefiele in court for printing N684.5m new notes for N18.96bn, gets N300m bail

A federal capital territory high court has granted bail to Godwin Emefiele, former governor of the Central Bank of Nigeria (CBN), in the sum of N300 million. The Economic and Financial Crimes Commission (EFCC) arraigned Emefiele on a four-count charge before MaryAnn Anenih, the presiding judge, on Tuesday. Emefiele pleaded not guilty to the four-count charge when it was read to him. Moving an application for bail, Mahmud Magaji, counsel to Emefiele, asked the court to grant his client bail on self-recognition and on the same grounds and conditions of…

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Aig-Imoukhuede named President, France-Nigeria Business Council

At the esteemed Choose France Summit 2024, held on Monday, May 13, 2024, Aigboje Aig-Imoukhuede, the Chairman of Access Holdings PLC, was formally appointed as the President of the France Nigeria Business Council (FNBC) by the President of the French Republic, President Emmanuel Macron. The France Nigeria Business Council (FNBC) stands as a pivotal coalition of Nigerian private sector business leaders, committed to enhancing bilateral relations between Nigeria and France. Its core objectives revolve around the facilitation of trade, investments, infrastructural development, job creation, and cultural integration between the two…

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Olufowose takes over at Firstbank as Odukale retires as chairman

Tunde Hassan-Odukale has stepped down as the Chairman of FirstBank of Nigeria Limited. Updating the Nigerian Exchange Group of recent development within the bank, the company’s Secretary, Adewale Arogundade, in a notice on Thursday, said Hassan-Odukale’s exit followed the completion of the cumulative number of years, which is 12 years for a non-executive director, in line with the Central Bank of Nigeria’s Corporate Governance Guidelines. “Consequently, the Board of FirstBank has appointed Mr Ebenezer Olufowose, a Non-Executive Director, as the new Chairman of the Board of Directors of First Bank…

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How ex-CBN director, John Ikechukwu Ayoh demanded $600,000 bribe for Emefiele

Victor Onyejiuwa, a principal witness in the ongoing trial of the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, over alleged abuse of office and accepting of gratification to the tune of $4.5bn and N2.8bn has revealed how he was reportedly pressurised by the management of the CBN to pay the sum of $600,000 as bribe to secure the payment for a contract which he had executed. Onyejiuwa, is the Managing Director of The Source Computers Limited. This was as the Economic and Financial Crimes Commission (EFCC)…

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Access Bank strengthens business in Sierra Leone with key board appointments, new chairman

Access Bank Sierra Leone Ltd (‘Access Bank (SL) Ltd’) has announced the appointment of new executives to its Board of Directors (‘the Board’), further strengthening its leadership team and advancing the implementation of its growth and transformation strategy. These appointments also reflect the Bank’s commitment to fostering growth and development while maintaining the highest standards of governance and stewardship. Joining the Board as Non-Executive Directors are Maurice Nathaniel Cole,Nsikak N. Usoro, Michala Mackay, Ibrahim Khalil Lamin, and Kolawole Augustine Ajimoko. The appointees boast a wealth of expertise from diverse sectors,…

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Analysts place “buy” on Fidelity Bank

Highly-rated, independent investment advisory firms have picked Fidelity Bank as a very attractive stock with potential to generate high returns for investors. Independent investment research reports by many market pundits reviewed at the weekend showed that Fidelity Bank was assigned “buy” ticker, a recommendation to investors to consider the potential attractive returns of the bank. The research reports were based on the historical and current operational performances of the bank as well as the clear-sighted implementation of the bank’s growth plan. The reports also considered the quality of board and…

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