The Central Bank of Nigeria has postponed the Monetary Policy Committee’s 293rd meeting, which was scheduled for Monday and Tuesday, September 25 and 26, 2023 just as newly appointed Central Bank Governor, Olayemi Cardozo and four deputies resumed at the apex bank’s Abuja head office. According to a press statement by the bank’s Director of Corporate Communications, Dr Isa AbdulMumin, “The Monetary Policy Committee of the Central Bank of Nigeria has deferred its 293rd meeting scheduled for Monday and Tuesday, September 25 and 26, 2023, respectively. “A new date will…
Read MoreCategory: Banking & Finance
Africa’s Finest: 6th Edition of The GTCO Fashion Weekend Holds in November
The Fashion Industry is in for another exciting experience as the GTCO Fashion Weekend returns for its 6th edition in November. The highly anticipated event is scheduled to hold on November 11th and 12th, 2023, at the GTCentre, Plot 1 Water Corporation Drive, Oniru, Lagos. The GTCO Fashion Weekend is an annual consumer-focused fair designed to showcase the best of Africa’s Finest fashion to a global audience. Over the years, the event has firmly established its place as an incubator for diverse talent, creativity, and enterprise in fashion retail, bringing…
Read MoreTinubu names Olayemi Cardoso as CBN Governor, appoints four deputies
President Bola Tinubu on Friday approved the nomination of Dr. Olayemi Cardoso as the new Governor of the Central Bank of Nigeria for a term of five years at the first instance, pending his confirmation by the Senate. “This directive is in conformity with Section 8 (1) of the Central Bank of Nigeria Act, 2007, which vests in the President of the Federal Republic of Nigeria, the authority to appoint the Governor and four Deputy Governors for the Central Bank of Nigeria, subject to confirmation by the Senate of…
Read MoreGTCO releases ₦327.4bn PBT for 2023 half year audited results Reports
Guaranty Trust Holding Company Plc (“GTCO” or the “Group”) has released its Audited Consolidated and Separate Financial Statements for the period ended June 30, 2023, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE). The Group reported profit before tax of ₦327.4billion, representing an increase of 217.1% over ₦103.2billion recorded in the corresponding period ended June 2022. The Group’s loan book (net) increased by 22.8% from ₦1.89trillion recorded as at December 2022 to ₦2.32trillion in June 2023, while deposit liabilities grew by 37.0% from ₦4.61trillion in December 2022…
Read More‘Its false news,’ Elumelu says no CBN job for me
Tony Elumelu, chairman of Heirs Holdings, has denied a report that he is being lined up as the next governor of the Central Bank of Nigeria (CBN). An All Progressives Congress (APC) member, Imran Muhammad had made a post on X (formerly Twitter), suggesting that Elumelu is likely to be the next CBN governor. “According to a source, President Bola Ahmed Tinubu is also considering Tony O. Elumelu as CBN Governor,” Muhammad posted. Elumelu responded to the post on his X page by simply saying “LOL. No, please. This is…
Read MoreZenith Bank names Juliet Ehimuan as non executive director
The Board of Directors of Zenith Bank Plc has appointed Dr. Juliet Ehimuan as a Non-Executive Director of the bank effective August 29, 2023. The appointment, which was announced in a statement to the Nigerian Exchange (NGX) Limited on Tuesday, August 29, 2023, has also be confirmed by the Central Bank of Nigeria. Dr Juliet Ehimuan is the Founder and CEO of Beyond Limits and the immediate past Director of Google West Africa. She was named by Forbes as one of the top 20 power women in Africa, by the…
Read MoreFBNHoldings wows the market with 2023 H1 earnings blowout
FBNHoldings (FBNH), the parent company of Nigeria’s pioneer Bank, First Bank of Nigeria Limited published stellar results, confounding analysts, and exciting investors. Equally as amazing as the spectacular results, which saw earnings per share surge by 234% to N5.19 was the fact that the banking behemoth was able to eke out this profit in a financially hostile policy environment where bank earnings have been squeezed. The Bank’s holding company has also been a subject of shareholder squabbles, which ordinarily should be a distraction to the management and a drag on…
Read MoreFirstBank commissions another automated self service centre in Ibadan Varsity
First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services organisation, has announced the launch of its second fully automated branch, the FirstBank Digital Xperience Centre (DXC), on the campus of the University of Ibadan (U.I). Professor. Kayode Adebowale, Vice Chancellor, University of Ibadan, Professor E.O Ayoola, Deputy Vice Chancellor Admin and Professor Aderonke Baiyeroju, Deputy Vice Chancellor, Academics led the university community in hosting the delegation from FirstBank comprising Dr. Adesola Adeduntan, CEO, FirstBank; Callistus Obetta, Group Executive, Technology & Innovation Services and Timothy Arowoogu, Group Head,…
Read MoreAccess Bank launches custody service as part of expansion strategy
Access Bank Plc has, as part of its expansion strategy, launched custody services to offer safekeeping and servicing of financial assets to its customers. The Managing Director of Access Bank, Mr Roosevelt Ogbonna, made this known in a statement in Lagos on Tuesday. Ogbonna said that the expansion into custody services came after obtaining regulatory approvals from the Securities and Exchange Commission (SEC) and the Central Bank of Nigeria (CBN) in December 2022. He said that custody services was a crucial component of the bank’s continued growth and expansion strategy.…
Read MoreFidelity Bank Distributes Food Packs to Benue IDPs
Leading financial institution, Fidelity Plc, has distributed over 1,200 food packs to the internally Displaced Persons in Makurdi, Benue State in its ongoing commitment to eliminate hunger among vulnerable persons in the society. The event, which took place on Thursday, 10 August 2023 at the IDP Camp, Federal Housing Estate in North Bank, Benue State was executed in partnership with the Hyacinth Alia Foundation and the Benue State Emergency Management Agency (BESEMA). Speaking during the distribution event, the Divisional Head, Brand and Communications, Fidelity Bank Plc, Meksley Nwagboh noted that…
Read MoreZenith Bank partners AfCFTA for trade promotion, signs agrrement to develop SmartAfCTA portal
Zenith Bank Plc has signed a Memorandum of Understanding (MoU) with the African Continental Free Trade Area (AfCFTA) Secretariat for the development of the SMARTAfCFTA Portal, for trade promotion within the African continent. The SMARTAfCFTA Portal, which has the capacity to provide information like trade indicators, market trends, custom tariffs, trade agreements, rules of origin, market access requirements of relevant jurisdictions, export potentials, export diversification indicators and contact details of business partners in target markets and other trade-related information about Africa, will help to unlock the vast opportunities for trade…
Read MoreFirstBank rolls out 4th set of SMDP graduates
First Bank of Nigeria Limited, Nigeria’s premier and leading financial services provider, has announced the graduation of 20 successful participants in the fourth edition of its Senior Management Development Programme (SMDP) at an event held recently at Oriental Hotel, Lagos. Before the 2023 graduation, the SMDP had produced 52 graduates. The Bank successfully graduated 23 participants in its inaugural edition, held in 2018; 17 in 2019 and 12 in 2020. The Senior Management Development Programme (SMDP) is FirstBank’s intensive modular programme for a select group of senior managers to principal…
Read MoreAccess Holdings receives Karlsruhe Award for Outstanding Business Sustainability Achievement for the 8th consecutive time
Access Holdings Plc has been honoured with the prestigious Karlsruhe Award for Outstanding Business Sustainability Achievement for the eighth consecutive time. Presented at the Global Sustainable Finance Conference (GSFC) organised by the European Organisation for Sustainable Development (EOSD) in partnership with the city of Karlsruhe, Germany, the Award underscores the sustainability commitment demonstrated in the way Access Holdings conducts its business operations and activities. Delivering the opening remarks at the Awards event, the Lord Mayor of Karlsruhe, Dr. Frank Mentrup, lauded the unwavering commitment of the organisations present and urged…
Read More3rd Time Winner: Zenith Bank emerges as the Best Corporate Governance Bank at WFCGA
For a third year running, Zenith Bank Plc has been named the Best Commercial Bank in Nigeria at the World Finance Banking Awards 2023. The bank also emerged as the Best Corporate Governance Bank, Nigeria, in the World Finance Corporate Governance Awards 2023, retaining the award for a second consecutive year. These awards were presented to Dr. Ebenezer Onyeagwu, the Group Managing Director/Chief Executive Officer of Zenith Bank Plc, at the London Stock Exchange recently. The recognitions celebrate the bank’s tremendous feats and milestones in financial performance, financial inclusion, corporate…
Read MoreFBNHoldings Posts N206b Half-Year Profit
FBN Holdings Plc (FBNHoldings) has posted N206 billion profit before tax in the first half of the year. The six-month report for the period ended 30 June 2023 showed that the company grew gross earnings and profit before tax to N656.6 billion and N206.3 billion respectively. Group Managing Director, FBN Holdings Plc, Mr. Nnamdi Okonkwo said the company has continued to deliver a strong financial performance despite the complex operating environment due to its reinforced foundations, deep market understanding, strong risk management and execution capabilities. “Across our businesses, we continue…
Read MoreAccess Holdings raise funds to secure brighter future for African children at UK Polo Day
Access Holdings, a leading African finance institution committed to making a difference, has once again demonstrated its dedication to ensuring children have the chance to access quality education. Through its recent Polo Day, held at the esteemed Guards Polo Club in Windsor, United Kingdom, the group secured pledges for the construction of 100 classroom blocks in Nigeria. The classrooms will go a long way in ensuring countless underprivileged children will have access to a safe and nurturing learning environment, ultimately inspiring them to dream, learn and become more. In his…
Read MoreEuromoney names Guaranty Trust best bank in Nigeria
GUARANTY TRUST BANK NAMED BEST BANK IN NIGERIA BY EUROMONEY Lagos, Nigeria – July 17, 2023: Guaranty Trust Bank Ltd (“Guaranty Trust” or “the Bank”) has been named Best Bank in Nigeria at the Euromoney Awards for Excellence 2023. This marks a record 12th time that Guaranty Trust Bank has been recognised as the leading financial institution in Nigeria. Announcing the award, Euromoney stated: “Nigeria’s Best Bank, Guaranty Trust Bank, has continued to do a good job of convincing investors that it is better placed than its key competitors to…
Read MoreAccess Bank acquires Standard Chartered Bank in Angola, Cameroon, The Gambia, Sierra Leone, and Tanzania
Access Bank Plc (Access) and Standard Chartered Bank have entered into agreements for the acquisition of Standard Chartered’s shareholding in its subsidiaries in Angola, Cameroon, The Gambia, and Sierra Leone, and its Consumer, Private & Business Banking business in Tanzania. Each transaction remains subject to the approval of the respective local regulators and the banking regulator in Nigeria. The announcement was made today at Standard Chartered’s Headquarters in London in the presence of senior representatives from both banks. Signed by, Sunil Kaushal, Regional CEO, Africa & Middle East, Standard Chartered,…
Read MoreKeystone Bank, businessman at war over alleged illegal withdrawal
An account holder with the Keystone Bank, Bala Ibrahim, has been finding it difficult to meet his financial needs after an erstwhile manager of a branch of the bank in the Agege area of Lagos State, Tijani Saleh, allegedly made an unauthorised withdrawal of N5.9m from his corporate account. Ibrahim, while speaking with our correspondent, said efforts to get the bank to refund his money proved abortive. PUNCH Metro gathered that Ibrahim opened a corporate account with the bank and funded the account with N20m. Shortly after funding the account,…
Read MoreAccess Bank completes acquisition of Angolan’s Finibanco
Access Bank Plc, the flagship subsidiary of Access Holdings, has completed the acquisition of majority equity in Angolan entity, Finibanco Angola S.A. The bank disclosed this in a notice filed on the Nigerian Exchange Limited on Thursday. Access Holdings had earlier announced the deal on October 4, 2022, and had received regulatory approvals in Nigeria and Angola. Commenting on the development, the Group Chief Executive Officer, Access Holdings, Dr. Herbert Wigwe, said, “In anticipation of the completion of the transaction, the bank has made excellent progress in integration planning. “Our…
Read MoreGTCO Autism Conference 2023: Empowering voices for Austism
Guaranty Trust Holding Company Plc (GTCO) has announced dates for the 2023 GTCO Autism Conference and follow-up consultations. This year’s programme is themed “Empowering Voices for Autism” to promote inclusivity and self-advocacy for persons on the Autism Spectrum. An offshoot of the Orange Ribbon Initiative, the GTCO Autism Conference has grown to become a reference point for autism advocacy and intervention in Africa, providing support and empowerment to thousands of people with neurodevelopmental disorders. Working with specialists and partner organisations within and outside Nigeria, the conference will feature lectures, panel discussions,…
Read More14th Consecutive winner: Zenith Bank is Nigeria’s number one bank in World’s 1000 Banks Ranking
Zenith Bank Plc has retained its ranking as the Number One Bank in Nigeria by Tier-1 Capital in the 2023 Top 1000 World Banks’ Rankings, published by The Banker Magazine. For the fourteenth year in a row, the Bank has held its position as the number one Tier-1 bank in Nigeria, emerging as the 467th Bank globally with a Tier-1 Capital of $2.54 billion. The rankings, published in the July 2023 edition of The Banker Magazine of the Financial Times Group, United Kingdom, were based on the 2022 year-end Tier-1…
Read MoreSterling Bank launches tech-based solutions for stakeholders in the Nigerian education sector
Sterling Bank has recently launched Edubanc; an innovative tech-based solution to provide banking and social services for stakeholders in the education sector. The solution aims to improve current learning outcomes and business growth for students, parents, and providers of educational services. Mr. Damian Umeasala, General Manager of Edubanc, stated at the launch in Lagos over the weekend, “Education has always been the cornerstone of progress, development, and growth in any economy in the world today. However, financial constraints often hinder the dreams and potential of countless individuals. At Edubanc, we…
Read MoreFirstBank introduces first humanoid robot, boosts commitment to provision of innovative financial solutions
FirstBank has launched an industry first Humanoid Robot at its Adetokunbo Ademola VI, Lagos Digital Experience Centre (DXC) Branch The robot is among the phased configuration of the bank’s state-of-the-art digitally led self-service branch The Humanoid Robot is equipped with Video Banking and Artificial Intelligence (AI), taking on the role of a friendly branch staff. In furtherance to its leading role in providing innovative financial solutions in Nigeria, First Bank of Nigeria Limited, Nigeria’s premier financial institution and leading financial inclusion services provider, has announced the launch of a Humanoid…
Read MoreNEXIM partners Fidelity Bank, and Sapphital to grow Nigeria’s export sector
As part of efforts to boost Nigeria’s foreign exchange earnings, the Nigerian Export-Import Bank (NEXIM) has announced a strategic partnership with leading financial institution, Fidelity Bank Plc and Sapphital Learning Ltd. The partnership will help improve the skills and performance of export businesses in Nigeria by leveraging the NEXIM Export Academy (NEXA); an online platform that provides exporters with capacity-building training and access to finance to scale their business. The NEXA platform which was Launched with the support of Sapphital (a digital learning institute) in 2022, is designed to empower…
Read MoreHackers hit Globus Bank, steal N1.7bn
Global Bank Limited, one of the new entrants into the Nigerian banking sector, led by Peter Amangbo as chairman and Elias Igbinakenzua as its chief executive officer, is in the news for the wrong reason, THE WITNESS reports. The bank has filed an application before a Lagos high court seeking an order for recovery of a total sum of N962,019,843.35 fraudulently transferred electronically from its vault into accounts domiciled in eight commercial banks. The N962m is part of the total N1,755,376,156.34 transferred from the bank between Monday 6th and Saturday…
Read MoreHanging on a cliff! Heritage Bank enmeshed in boardroom crisis, depositor’s money threatened as IT staff steals N49bn
Heritage Bank is troubled and with the magnitude of negative stories coming from the embattled, bank its just a matter of time before its doors are closed to the banking public. National Infinity reports that the face-off that snowballed into the current boardroom crisis involves the current managing director and chief executive of the bank, Mr. Akinola George-Taylor and some board members considered loyalists of the immediate past Managing Director, Iffie Sekibo. Sources divulged to National Infinity thatlLess than one year after assuming office as the bank’s CEO, George-Taylor may…
Read MoreFitch Affirms Fidelity Bank Ratings with Stable Outlook
Fitch Ratings has affirmed Fidelity Bank Plc’s credit rating at ‘B-‘ with a stable outlook, according to its recent report. The global rating agency also upgraded the bank’s National Short-Term Rating to ‘F1+(nga)’ from ‘F1(nga)’. It said the upgrade reflects the improvement in the bank’s local-currency funding profile, as evidenced by the increase in the share of low-cost current and savings accounts in the bank’s customer deposit base to 87.1% at the end of the first quarter (1Q2023) from 75% in 2021. According to Fitch, Fidelity Bank’s rating affirmation is…
Read MoreUnion Bank’s αlpher Partners with Chrystallis Conversations to Promote Women Empowerment
In line with its commitment to sustainable development and enabling success for women, Union Bank of Nigeria, through its women-focused proposition αlpher, partnered with Chrystallis to host the inaugural live edition of Chrystallis Conversations – a platform focused on empowering women and promoting gender equality. The event tagged Fear-Less! Pursuing Your Best Life with Courage and Conviction held on Thursday, June 1, 2023, in Victoria Island, Lagos. It was an intimate night of insightful conversations and networking. The event kicked off with a heartfelt musical performance by Funmi Bucknor, followed by…
Read MoreNUBIFIE Picketing: Polaris Bank restates commitment to staff welfare
Polaris Bank has clarified that she did not violate any law in a recent disengagement of some staff which it said was done in line with the terms of the contract guiding their engagements The Bank was reacting to a report of the picketing of its headquarters by NUBIFIE this morning by a section of the media. The Bank disclosed that it has engaged and will continue to engage the union to resolve any lingering labour matters. The Bank emphasized that a cordial relationship has existed between…
Read MoreHow Emefiele was arrested, taken to Abuja, he committed colossal damages -Ex-Presidential spokesman
Godwin Emefiele, the suspended Governor of the Central Bank of Nigeria (CBN), was arrested on Saturday morning, inside his highbrow Ikoyi home in Lagos, hours after he was suspended from office, from his post by President Bola Tinubu, citing an investigation of his office and the reforms in the economy, according to a government statement. The Department of State Services (DSS), which initially denied arresting Emefiele, arrived at his residence, introduced themselves and were allowed into the compound by the security officers at the gate, after receiving clearance from the…
Read MoreVideo: DSS confirms Emefiele’s arrest, flown to Abuja
The Department of State Services has revealed that the suspended Governor of the Central Bank of Nigeria, Godwin Emefiele, is now in its custody. This was made known in a statement via the agency’s Twitter handle on Saturday, June 10, 2023. The statement read, “The Department of State Services (DSS) hereby confirms that Mr Godwin Emefiele, the suspended Governor of the Central Bank of Nigeria is now in its custody for some investigative reasons. “The public, particularly the media, is enjoined to apply utmost caution in the reportage and narratives…
Read MoreIts FirstBank’s finest hour, dazzles stakeholders with growth across key metrics
Rising from a lower profit margin of N10.2billion and a debilitating Non-Performing Loan portfolio of 45 per cent in 2015, to an impressive profit of N147billion and a significantly lowered NPL rate of 5.6 per cent in 2022, FirstBank has proven that its back-to-back profit-making is far beyond recoveries made, but rather it’s a reinforcement of a well-articulated growth trajectory driven by a committed, competent and experienced Board and management team, writes Festus Akanbi There seems to be a consensus among watchers of the Nigerian banking sector that these days,…
Read MoreFidelity Bank announces 2nd edition of International Trade and Creative Connect (FITCC)
…takes trade expo to Houston, Texas, USA in October 2023 Building on the resounding success of the maiden edition of the Fidelity International Trade and Creative Connect (FITCC) in London, UK last November, leading financial institution, Fidelity Bank Plc, has announced plans to host the second edition of the trade expo in Houston, Texas in the United States of America. Tagged FITCC Houston, the event would hold on Wednesday, 18th and Thursday, 19th October 2023 at the George R. Brown Convention Center, 1001 Avenida de las Americas, Houston, Texas 77010.…
Read MoreCustomers hail Zenith Bank as Beta Life Promo Season 3 commences
TO CUSTOMERS’ DELIGHT, ZENITH BANK COMMENCES “ZENITH BETA LIFE SEASON 3” PROMO Zenith Bank Plc has launched the third season of its hugely successful “Zenith Beta Life Promo” to reward its customers with gifts from June 1, 2023, to May 31, 2024. Within this period, twenty bank customers of Zenith Bank will be chosen through a bimonthly raffle draw, each receiving gifts valued at NGN150,000. Five lucky customers will also win a cash prize of NGN500,000 during the quarterly draws. The promo is open to both existing and new Zenith…
Read MoreCustomers laud Polaris Bank’s exclusive banking product
… Commend Partnerships and bundled investment initiatives Nigeria’s leading Retail Bank, Polaris Bank has announced the launch of its exclusive banking product aimed at serving its High Net-worth Individuals (HNIs) seeking innovative investment options in challenging economic times. The unveiling which took place in Ikoyi, Lagos, on Tuesday was attended by esteemed guests, industry experts, and corporate customers from across the country. The exclusive banking proposition, designed to guide HNIs towards high-yield investment opportunities, received an overwhelmingly positive response from customers present at the launch with most of them offering…
Read MoreNaira devaluation’s fake news, says CBN
The Central Bank of Nigeria (CBN) has debunked a report by a national daily that it has devalued the naira to N631 per dollar at the Importers and Exporters’ (I&E) window. A top official of the apex bank, who told this medium that the report is completely false , warned that such reports could have serious adverse consequences for the economy. According to the top official, the CBN has not changed its strategy of allowing a gradual convergence of the parallel and official market exchange rates. “The report is not…
Read MoreZenith Bank wins Best Corporate Governance Services in Africa in 4th consecutive year
For the fourth consecutive year, Zenith Bank Plc has been named as the Best Corporate Governance ‘Financial Services’ Africa 2023 by the Ethical Boardroom. The award, which was published in the Spring 2023 edition of The Ethical Boardroom magazine, is in recognition of the bank’s adherence to global best practices and institutionalization of corporate governance, setting an industry-wide example of best practices in that field. Speaking on the recognition, the Group Managing Director/Chief Executive of Zenith Bank Plc, Dr. Ebenezer Onyeagwu, said: “I am extremely pleased that Zenith Bank has…
Read MoreOver 10,000 residents to benefit as LASG, Firstbank partner to boost health care
In a bid to boost healthcare delivery to thousands of residents, the Lagos State Government has built and unveiled a new Primary Healthcare Centre (PHC) in Ije-Ododo Community, Iba Local Council Development Area (LCDA), under the Ojo Council Area of the state. The facility, which has been under construction since 2021 in partnership with First Bank of Nigeria Limited, was unveiled in the community in an opening ceremony attended by the Lagos State Governor, Babajide Olusola Sanwo-Olu, representatives of the state government, the state Primary Health Care Board, community leaders,…
Read MoreFidelity Bank MD, Nneka Onyeali-Ikpe Gets National Award
Chief Executive Officer of Fidelity Bank PLC, Nneka Onyeali-Ikpe, has been listed amongst the recipients of the 2023 national awards. According to the 2023 national awards list released by the Federal Government last weekend, Onyeali-Ikpe would be conferred with the award of the Officer of the Order of the Niger, OON. The list also includes prominent names such as Emeka Anyaoku, First lady, Oluremi Tinubu, Co-Founder of Tony Elumelu Foundation, Dr Awele Elumelu; President of Transcorp Group, Dr Owen Omogiafo among others. Also, former Governor of Osun, Bisi Akande; Olusegun…
Read MoreSubomi Balogun, FCMB founder dies in London
Otunba Michael Subomi Balogun,celebrated banker and a godfather of the banking industry,founder of First City Monument Bank, FCMB, has reportedly passed away at age 89. According to reports, Balogun died in a London hospital on Friday morning. Details later…
Read MorePolaris Bank clarifies issue with Anthony Olasele’s account
Polaris Bank Plc has expressed dismay at the resort to misleading social media posts by one of its customers, Anthony Olasele, in spite of efforts by the Bank so far to treat the customer’s protest. In a bid to clarify the misunderstanding on the customer’s account, the management of the bank said in a statement that, “Further to our earlier post, we wish to reiterate the following.Polaris Bank did not declare the customer dead, but was in receipt of court documents stating so, and the Bank in such circumstance, has…
Read MoreFidelity Bank CEO bags Banker of the Year Award
Managing Director/Chief Executive Officer, Fidelity Bank Plc, Mrs. Nneka Onyeali-Ikpe has received yet another recognition as she bagged the award of the Banker of the Year 2022 at the Champion Newspapers’ Awards of the Year 2022. Held at the Eko Hotel and Suites on Friday, 12 May 2023, the well-attended event featured top players in the nation’s public and private sectors. Receiving her award in company of her family, friends and colleagues, an elated Mrs. Onyeali-Ikpe said, “I am grateful for this recognition and I dedicate this award to the…
Read MoreGTCO to pay N91.24bn total dividend payout for 2022
Shareholders of Guaranty Trust Holding Company (GTCO) Plc, have endorsed the payment of a total dividend of N91.236 billion, representing N3.10 per share for the financial year ended December 31, 2022. This endorsement was made at the holding company’s second annual general meeting held on Thursday, virtually. The Group proposed a final dividend of N2.80 per unit of ordinary share held by shareholders in addition to the interim dividend of 30 kobo interim dividend paid in June, bringing the total dividend for the 2022 financial year to N3.10 per unit…
Read MoreAccess Bank PLC expands global footprint, launches French subsidiary
Access Bank PLC, the flagship company of Access Holdings PLC, has officially launched its subsidiary in Paris, France. The Bank’s operations will focus on trade finance, initially capitalising on flows between Africa and France, particularly Francophone Africa. Herbert Wigwe, Group Chief Executive Officer of Access Holdings PLC, speaking on the purpose of the Bank’s strategic expansion efforts said, “Access Bank PLC, today, has a very strong presence in the United Kingdom, but coming on the heels of Brexit, there was a need for us to establish a presence in another…
Read MoreBankers arrested for pushing debtor’s wife to death
Four staff of ZEFA Microfinance Bank have been arrested after one of them pushed a 50-year-old Vivian Omo, the wife of their debtor which led to her death. The suspects whose bank is situated at Abule Ijoko Lemode area of Ifo local government area of Ogun state reportedly went to the house of their debtor and started packing the belongings of the defaulter. The Police Public Relations Officer in the state, SP, Abimbola Oyeyemi, confirmed the incident in a statement on Sunday. Oyeyemi explained that the four suspects have been…
Read MoreSterling One Foundation Supports Community Pot Initiative Towards Achievement of Global Goals Two and Three
As the world continues to work towards zero hunger, good health, and well-being, the Sterling One Foundation has thrown its weight behind Community Pot, a social impact project focused on tackling infant malnutrition by providing healthy and sustainable diets. The project, which aims to feed at least 1,000 children every month with healthy and nutritious meals received support from Sterling One Foundation for its February outreach in Ajegunle. According to statistics, an estimated 2 million Nigerian children suffer from acute malnutrition, which contributes to under-five mortality and stunted growth, ranking…
Read MoreBVN has no expiry date, CBN clarifies
The Central Bank of Nigeria has said that the Bank Verification Number it issues in collaboration with Nigeria Inter-Bank Settlement System does not have an expiry date. The apex bank revealed this in a document signed by its Acting Director, Corporate Communication, Isa AbdulMumin, on Wednesday night. The bank said the insinuation that the BVN expires after 10 years of issuance is incorrect. “Contrary to these claims, we wish to clarify that the BVN issued in Nigeria has no expiry date. Once a customer’s biometrics have been captured and enrolled…
Read MoreElumelu increases stake in UBA with 70m units of shares worth N560m
HH Capital, a private equity firm founded by billionaire investor, Tony Elumelu, has bought 70 million units of shares of United Bank for Africa where he is the chairman of the Board of Directors. This was disclosed in a corporate filing on the Nigerian Exchange Limited on Wednesday. According to the details of the deal, HH Capital Limited acquired 70,000,000 shares of UBA at N8 per unit on the floor of the NGX. The deal is worth N560m. In its 2022 audited financial statements, Elumelu holds directly 194,669,555 units of…
Read MoreFidelity Bank emerges Nigeria’s best-performing bank share
With a 32% year-to-date appreciation in value, Fidelity Bank Plc’s shares have emerged Nigeria’s best performing year -to-date bank share. This is according to a recently published Bloomberg article. Speaking with the platform’s journalist, MD/CEO, Fidelity Bank Plc, Mrs. Nneka Onyeali-Ikpe shed light on the 35-year-old institution’s business expansion plans especially to other African countries after finalizing the acquisition of Union Bank UK, explaining that, “The strategy is for us to move footprint outside Nigeria and be able to compete favorably with our peers. In the next three years, we…
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