Category: Business

Legend Twist gives consumers an unforgettable night at trace wive with D’banj and Alte culture festival

Jide Ige

Legend Twist pulled out all the stops at Trace Live with D’banj, commemorating his two-decade journey as a stage icon. The electrifying event, held on April 12, 2024, at Terra Kulture, delivered an unforgettable experience. Guests arrived dressed to impress, brimming with excitement as they sampled Legend Twist’s trio of flavors – Lemon, Ginger, and Pineapple – and soaked in the vibrant atmosphere. As the lights dimmed, signaling the start of the show, the crowd erupted in cheers as D’Banj took the stage. The music legend treated fans to a…

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Dana Air overshoot runway at Lagos Airport, management expresses regrets

Jide Ige

A Dana Air aircraft overshot the runway at the Murtala Muhammed International Airport in Lagos on Tuesday morning. The incident was reported to have occurred a few minutes past 10 am. Reports claim there are no casualties recorded, but details of the incident are still sketchy as of the time of filing this report. The management of Dana Air has however confirmed reports that one of its aircraft with registration number 5N BKI skidded off the runway at the Murtala Muhammed International Airport in Lagos on Tuesday morning. The airline…

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FG to sell Abuja, Benin, Kaduna, Kano, Ibadan DisCOs within three months

Jasmin Ekua, Banking & Finance

The federal government on Monday, April 22, vowed to sell off the five electricity Distribution Companies (DisCos) now under the management of banks and Asset Management Company (AMCON) in the next three months to reputable technical power operators. Recalled that Abuja Electricity Distribution Company (AEDC) is currently under the management of the United Bank of Africa (UBA), Fidelity Bank manages Benin Electricity Distribution Company, Kaduna Electricity Distribution Company, and Kano Electricity Distribution Company while Ibadan Electricity Distribution Company is under the AMCON management. They all found themselves under the new…

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First Bank names Alebiosu as Adeduntan’s replacement

Jide Ige

First Bank of Nigeria has named Mr. Olusegun Alebiosu as its acting managing director with effect from April 2024. The Bank stated this in a release signed by its acting company secretary Adewale Arogundade. Alebiosu takes over from Adesola Adeduntan, who gave up the role abruptly on Saturday even though he was due to complete his tenure in December 2024. The release stated that “following the resignation of the managing director/CEO of FirstBank, Dr. Adesola Adeduntan, the Board of Directors has appointed Olusegun Alebiosu as the acting CEO of the…

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Nadeem Anjarwalla, fleeing Binance chief arrested in Kenya, to be extradited to Nigeria

Wura Kelani, Crime Reporter

Police authorities in Kenya have arrested Nadeem Anjarwalla, a Binance Holdings Ltd. top executive, who escaped from detention in Nigeria and the International Criminal Police Organisation is finalizing moves to extradite him to Nigeria soonest. Government sources familiar with the case who spoke on condition of anonymity because they were not authorised to speak on the matter confirmed the development to our correspondent on Sunday night, reports The PUNCH newspapers. One of the sources said, “Binance executive, Nadeem Anjarwalla, has been arrested by the Kenya Police Service, and he would…

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Access Pensions to empower Africa’s next wave of talents with market readiness training

Jide Ige

As the job market welcomes a new wave of talent post NYSC, Access Pensionshas announced the ‘Shape Your Future’ live empowerment webinar. This session is designed to prepare and equip young individuals as they transition into the business world or workforce, whether as employees or entrepreneurs. Scheduled for April 25, 2024, from 12:00 WAT, ‘Shape Your Future’ brings together industry experts and thought leaders to share invaluable insights and strategies for success. The sessions will feature distinguished speakers including Joycee Awosika, Founder/CEO Oriki Group who will speak on the topic‘Getting…

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Access Holdings’ shareholders back capital raising plan, hail Aig-Imoukhuede’s return as chairman

Jide Ige

The shareholders of Access Holdings Plc at the 2nd Annual General Meeting (AGM) held on Friday, April 19, 2024, unanimously backed the Group’s plan to establish a capital raising programme of up to US$1.5 billion as well as the subset initiative to raise up to N365 billion, specifically, through a Rights Issue of ordinary shares to its shareholders. The proceeds of the Rights Issue would be used to support ongoing working capital needs, including organic growth funding for its banking and other non-banking subsidiaries. The shareholders also ratified the appointments…

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NUBIFIE pickets Heritage bank for dismissing over 1000 staff

Jide Ige

The National Union of Banks, Insurance and Financial Institutions Employees (NUBIFIE), today shut down Heritage Bank’s head office in Lagos following the sack of over 1000 personnel by the management of the bank led by Mr. Akinola George-Taylor without following due process, The union said it had resolved to continue with the picketing until the management of the bank decides to do the needful by ensuring the sacked workers get their legitimate severance package. The aggrieved ex-staff of the bank have locked the gate and prevented anyone from going in…

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Naira appreciates, sells for N1,100/$ at parallel market

Jasmin Ekua, Banking & Finance

Nigeria’s currency, the naira rose further on Monday in the parallel section of the foreign exchange (FX) market. At the Lagos street market, currency traders, also known as bureau de change (BDC) operators, quoted the naira at N1,100 to the greenback. The traders put the buying price of the dollar at N1,070 and the selling price at N1,100 — leaving a profit margin of N30. The figure represents an appreciation of N50 or 4.34 percent from the N1,150/$ it traded on April 12. At the FMDQ Exchange, a platform that…

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WEMA Bank’s depositors, stakeholders jittery as scammers cart away N685.5m

Jide Ige

Wema Bank Plc is swimming in troubled waters as depositors and stakeholders are jittery over the safety of their funds and the health of the lender over the high level of fraud cases the bank recorded in the year 2023 amounting to over N1.13bn. National Infinity reports that in its full-year 2023 financial statement released recently, the bank disclosed that it recorded fraud in its system to the tune of N1.136 billion. This has become worrisome to financial analysts and further shows that the bank’s security system may be either…

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Foreign airlines conspiring against us, Air Peace boss, Onyeama alleges

Jide Ige

Allen Onyema, chairman of Nigerian indigenous carrier Air Peace, has voiced concern over alleged conspiracy among foreign carriers operating the Nigeria-UK route. He claimed that these carriers are deliberately undercutting airfares on the route as part of a scheme to push Air Peace out of international operations. During an appearance on Channels Television’s Politics Today program, Onyema asserted the existence of an “unspoken alliance” among foreign airlines. He alleged that these airlines are employing lower pricing strategies with the aim of forcing Air Peace off the Nigeria-London route. “If they…

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Zenith Bank’s profit shoots up by 180% to N796bn in 2023 financial year

Jide Ige

Zenith Bank Plc has announced its audited results for the year ended December 31, 2023, achieving a remarkable triple-digit growth of 125% in gross earnings from NGN945.6 billion reported in 2022 to NGN2.132 trillion in 2023. According to the audited financial results for the 2023 financial year presented to the Nigerian Exchange (NGX), this impressive triple-digit growth in gross earnings resulted in a Year-on-Year (YoY) increase of 180% in Profit Before Tax (PBT) from NGN284.7 billion in 2022 to NGN796 billion in 2023. Profit After Tax (PAT) also recorded triple-digit…

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Soulcom celebrates 20 years of ‘Soulful Engagement’ unveils Ugochuckwu Uwajei as new COO

Jide Ige

Soulcomms, a leading Strategic Communications and Engagement Agency has marked a significant milestone – its 20th anniversary. This momentous occasion not only commemorates two decades of excellence and innovation but also signals a new chapter with the appointment of a new Chief Operating Officer. The company’s 20th anniversary celebration was marked with an exclusive Cocktail event with the theme, “20 Years of Soulful Engagement.” Clients, Industry Stakeholders, former staff of the company, and other esteemed guests graced the colourful occasion. The highpoint of the occasion was the unveiling of Soulcomms’…

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We will hunt down fake certificate holders -Education minister

Jide Ige

The Minister of Education, Prof. Tahir Mamman, on Tuesday, said security agencies will go after individuals with fake degree certificates in the country. According to the minister, the individuals will be tracked after the committee inaugurated to investigate the activities of degree mills in the country submits its report. The Federal Ministry of Education had earlier set up an investigative panel to probe activities of degree mills following an investigative report published by Daily Nigerian which exposed the activities of degree mills in Benin Republic. The Daily Nigerian reporter, Umar…

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Hope for price fall as Dangote refinery begins sale of diesel to marketers

Jide Ige

The Dangote Petroleum Refinery has commenced the sale of Automotive Gas Oil, popularly called diesel, to oil marketers nationwide. Dealers and officials of the plant confirmed, as it was gathered that the refinery commenced diesel sales last week. “They started pumping out diesel to marketers last week. They also promised to sell aviation fuel soon. Some of my members confirmed this to me after making a purchase,” the National President of Independent Petroleum Marketers Association of Nigeria, Abubakar Maigandi, told newsmen. He said the move by Dangote would lead to…

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Lagos-London flight: Air Peace responds to high demands, increases capacity

Jide Ige

Air Peace, Nigeria’s flag carrier, has announced an increase in capacity on its Lagos-London flights. The airline made the announcement on its X page on Wednesday. On March 30, Air Peace commenced its Lagos-London flight services. During an interview on Arise TV on April 2, Allen Onyema, chief executive officer of Air Peace, said the airline sold out tickets for the Lagos-London flights until September. However, due to the high demand to fly with the airline, Air Peace on Wednesday said more seats have been created to meet the passengers’…

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Alleged Fraud: EFCC arraigns Binance chief in court, adjourns tax evasion case to April, 19

Wura Kelani, Crime Reporter

Tigran Gambaryan, Binance’s head of financial crime compliance, has arrived the federal high court in Abuja for arraignment over allegations of money laundering. On February 28, Gambaryan and Nadeem Anjarwalla, Binance’s regional manager for Africa, were detained by the Nigerian authorities. Although Anjarwalla has escaped from the custody of the office of the national security adviser (ONSA), both executives, alongside Binance, are expected to be charged in court by the federal government for tax evasion and money laundering on Thursday. In the suit marked: FHC/ABJ/CR/115/2024, Binance was accused of failing…

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4th Time Winner: Again Zenith Bank wins Global Finance’ Best Bank in Nigeria

Jide Ige

Zenith Bank Plc has emerged as the Best Bank in Nigeria in the Global Finance Best Banks Awards 2024, winning the award for the fourth time since 2019. The Bank was among other banks from 36 countries in Africa recognised as the prestigious Global Finance announced its 31st Annual Best Bank Awards Winners. The editors of Global Finance made the selections after extensive consultations with corporate financial executives, bankers and banking consultants, and analysts worldwide. Factors considered in selecting the top banks ranged from the quantitative objective to the informed…

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CBN increases commercial banks capital base to N500bn

Jide Ige

Nigeria’s Central Bank, on Thursday, unveiled new minimum capital requirements for banks, pegging the minimum capital base for commercial banks with international authorisation at N500bn. This is coming days after the apex bank urged Nigerian banks to expedite action on the recapitalisation of their capital base to strengthen the financial system. This was according to a statement released by the apex bank on Thursday. The statement reads, “Confirming this in Abuja, on Thursday, Acting Director, Corporate Communications Department, Mrs. Sidi Ali, said the new minimum capital base for commercial banks…

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We have restored national grid -TCN

Jide Ige

The Transmission Company of Nigeria says it has successfully restored the national power grid following its collapse at 4:28 pm on Thursday. TCN, in a statement on Friday, said the grid attained full recovery by 10 pm on the same day. However, the Eko Electricity Distribution Company said on Friday that it was able to receive minimal power supply from the grid to put Agbara, Ojo, Akangba, Ajah, Lekki and Alagbon Transmission Stations on supply. The spokesperson of the TCN, Ndidi Mbah, said, “We remain optimistic that power supply will…

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Access Holdings plan US$1.5bn capital raising programme, targets N365bn rights issue

Jasmin Ekua, Banking & Finance

Access Holdings Plc, one of Africa’s leading financial groups, has unveiled plans to establish a Capital Raising Programme of up to US$1,500,000,000.00 (One Billion, Five Hundred Million United States Dollars) or its equivalent in local currency TheProgramme aims to enhance the Group’s financial strength through the issuance of various financial instruments such as ordinary shares, preference shares, Alternative Tier 1 capital, convertible and/or non-convertible debt, bonds, or other capital and/or funding instruments. The Programme may be executed through a variety of methods including public offerings, private placements, rights issues, book-building…

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Nigerian Breweries Brings “The Big Weekend Experience 2.0” to Onitsha, Warri, Akure This Easter

Jide Ige

Nigerian Breweries, the pioneer and largest brewing company in Nigeria, is set to host the second edition of the “Big Weekend Experience” across three cities simultaneously – Onitsha, Warri, and Akure. The event promises an exciting celebration of beer, featuring Nigerian Breweries’ top brands, live musical performances, and the opportunity to win fantastic prizes. Kicking off at 2 pm in each city, beer lovers can anticipate a thrilling day filled with good vibes, great music, cold beer, and the chance to win incredible prizes. The event will showcase Nigerian Breweries’…

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Detention: Binance executive, manager sue NSA, EFCC

Jasmin Ekua, Banking & Finance

The detained Binance executive, Tigran Gambaryan, has sued the National Security Adviser (NSA), Nuhu Ribadu, and the Economic Financial Crimes Commission (EFCC) over the alleged violation of his fundamental rights. Gambaryan, in the originating motion dated and filed March 18 by his lawyer, Olujoke Aliyu, sought five reliefs before the presiding judge, Justice Inyang Ekwo, at the Federal High Court in Abuja. Also, Nadeem Anjarwalla, the Binance’s Africa regional manager who escaped from custody on March 22, filed a separate right enforcement suit before Justice Ekwo. Gambaryan and Anjarwalla, in…

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How KFC dehumanised me, Adebola Daniel laments

Jide Ige

Adebola, the son of Otunba Gbenga Daniel, a srving Senator and a former governor of Ogun State, has lamented how he was denied access to the Kentucky Fried Chicken (KFC) branch at the Murtala Muhammed International Airport in Ikeja, Lagos State. Adebola, in a series of tweets on his X account on Wednesday, March 27, 2024, described his ordeal as “the worst sort of public humiliation” he ever had. The son of the incumbent senator representing Ogun East Senatorial District, said he felt less than human, “like a guard dog…

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FAAN shuts KFC for discriminating against disabled Senator’s son

Jide Ige

The Federal Airports Authority of Nigeria (FAAN) shut down the Kentucky Fried Chicken (KFC) facility at the Murtala Muhammed International Airport in Lagos over the alleged discriminatory treatment of Adebola Daniel, a passenger with reduced movement, on Thursday, March 27, 2024. This was made known in a statement issued by the FAAN Director of Public Affairs and Consumer Protection, Obiageli Orah. The victim, Adebola is the son of a former governor of Ogun State and a serving Senator, Otunba Gbenga Daniel. He recounted his experience at the KFC outlet at…

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Coronation Group, Access Holdings Plc, Safaricom and M-PESA Africa partner to explore remittances

Jasmin Ekua, Banking & Finance

A transformative collaboration aimed at broadening access to remittances across Africa has been forged among Coronation Group, Access Holdings Plc, SafaricomPlc and M-PESA Africa(the parties)as the parties come together in a strategic alliance dedicated to propelling financial inclusion and nurturing economic prosperity for millions across the continent. The parties aim to explore solutions that will provide a remittance corridor between East and West Africa, connecting some of the continent’s largest economies. The collaboration will see the convergence of Access Holdings’ robust Pan-African banking infrastructure, spanning 14 African countries, with Coronation…

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Nomination opens for The Voice Achievers Award 2024

Jide Ige

Nairobi, Kenya 2024… The Voice Achievers Award Inc. proudly announces the opening of nominations for the esteemed 13th edition of The Voice Achievers Award ceremony, set to be held in Nairobi, Kenya on August 15th and 16th, 2024. The award aims to recognize exceptional individuals, businesses, non-governmental institutions, and governmental entities from Africa and the Diaspora, along with friends of Africa, whose contributions have significantly impacted society. Building on the success of the 2023 ceremony in Almere, The Netherlands, and from all our previous ceremonies, the 2024 edition seeks to…

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Announcing the 2024 GTCO Food and Drink Festival… A Celebration of Authentic Flavours

Jide Ige

The countdown has begun to the 7th edition of the most anticipated culinary festival in Africa and Guaranty Trust Holding Company Plc (GTCO) is excited to announce dates for the 2024 GTCO Food and Drink Festival, set to take place from Friday, April 26th to Sunday, April 28th, at GTCentre, Plot 1 Water Corporation Drive, Oniru, Victoria Island, Lagos. The GTCO Food and Drink Festival is widely recognised as the continent’s biggest food and drink festival, bringing together millions of food lovers and entrepreneurs to celebrate the rich and diverse…

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Access Bank acquires National Bank of Kenya (NBK) from KCB Group

Jasmin Ekua, Banking & Finance

Access Bank PLC and KCB Group PLC have today signed a binding agreement to acquire 100 percent shareholding in National Bank of Kenya Limited (“NBK”) from KCB. The successful completion of the transaction is subject to conditions that are customary for transactions of this nature including receipt all regulatory approvals from, amongst others, the Central Bank of Kenya, the Central Bank of Nigeria, the COMESA Competition Commission, and notifications to other relevant regulators. For Access Bank, this move underscores its commitment to bolstering its presence in Kenya and the broader…

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Marketers give hope for price reduction as PH refinery pumps fuel in 2 weeks

Jide Ige

The Independent Petroleum Marketers Association of Nigeria and the Major Energy Marketers Association of Nigeria have projected a marginal reduction in the pump price of Premium Motor Spirit, popularly called petrol, produced by the Port Harcourt Refining Company once the plant begins operations next month. IPMAN and MEMAN also declared their readiness to load products from the facility, as they urged the Nigerian National Petroleum Company Limited to fulfil its promise of pumping out refined products from the plant in two weeks. On Friday, the Group Managing Director, of NNPCL,…

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MTN’s Y’ellopreneur to power 1000 female owned MSMEs

Jasmin Ekua, Banking & Finance

The MTN Y’ellopreneur Initiative seeks to contribute to the reduction in women’s unemployment and advance women’s development in ‘Entrepreneurship’ through capacity building and access to capital through loans, grants, and advisory support services for long-term business sustainability. The initiative targets Female Entrepreneurs across the country who display passion and commitment to self-employment and run an existing business of two years and above in the areas of; circular economy, manufacturing, processing, agriculture, ICT/digital services, waste management, etc. The focus is on businesses that source their raw materials locally. MTN Nigeria Foundation…

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EXCLUSIVE: How Access Bank funded N50bn contracts awarded to Craneburg Construction by Abia Gov, Otti

Jide Ige

Facts have emerged that the Craneburg Construction firm owned by the late Mrs Chizoba Doreen Wigwe, wife of the late Dr Herbert Wigwe of Access Bank had used a loan from the bank to finance contracts across the country. Herbert Wigwe, who was the Group Chief Executive Officer (GCEO) of Access Holdings Plc, had his late wife serving on the legal board of the bank before venturing into the establishment of the Craneburg Construction in 2016. A document obtained by SaharaReporters on Wednesday shows how Craneburg Construction Company received a…

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My Access Bank story – ex-Emir Sanusi

Jasmin Ekua, Banking & Finance

Khalifa Mohammed Sanusi, a former Emir of Kano, has shared the story of how his association with the late Access Holdings Plc’s CEO, Herbert Wigwe, led to Insinuations that he was the owner of the bank. The former Governor of the Central Bank of Nigeria (CBN) made this known on Wednesday at the night of tributes organised in Wigwe’s honour in Lagos. Sanusi, who broke down in tears thrice, said Wigwe’s kindness to him gave many the impression he owned Access Bank, while Wigwe and Aigboje Aig-Imoukhuede were his stooges.…

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Reps plot Binance Holdings CEO arrest over alleged tax evasion, money laundering

Wura Kelani, Crime Reporter

The House of Representatives Committee on Financial Crimes has recommended the arrest of the Chief Executive Officer of Bianace Holding Ltd over alleged tax evasion and money laundering in Nigeria. The recommendation followed a motion by Rep. Isah Dogonyaro (APC- Jigawa state) at a public hearing on Monday in Abuja. The hearing was on a petition by Empowerment Fund for Nigerian Youth Initiative and the Niger Delta Youth Council of Nigeria on several crimes allegedly committed by Bianance. Binance is an online financial company, operating in the cyberspace of Nigeria…

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Why Ogun State shut Harvarde College over non-accreditation of programmes

Yemi Thomas, Entertainment Editor

An enforcement team comprising the Ogun State Ministry of Health and Nursing and Midwifery Committee has sealed the Nursing Department of Harvarde College of Science, Business and Management Studies, Obada in the Ewekoro Local Government Area of the state. The state government moved against the school for allegedly offering a degree programme in Nursing Sciences for six years without accreditation from the Nursing and Midwifery Council of Nigeria. Sunday PUNCH had earlier reported how the institution operates as an academic institution with no clear specification of where it belongs among…

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As NCC bars 40m GSM lines: Follow this step-by-step guide to link your NIN with your telephone number

Jide Ige

No fewer than 40 million telephone lines were barred by telecommunication operators over the weekend following the expiration of the February 28, 2024 deadline issued by the Nigerian Communications Commission mandating telecom consumers to link their Subscriber Identity Modules to their National Identity Numbers. This represents a 28 million increase from the 12 million telephone lines initially planned to be deactivated by telcos, following the NCC directive. In a December 2023 notice, the NCC had asked telcos to bar SIMs that had not been linked to their owners’ NINs by…

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LASG to enforce monthly house rental scheme

Jide Ige

The Special Adviser to Lagos State Governor on Housing, Barakat Odunuga-Bakare, has disclosed that the state’s monthly rental scheme will be enforced before the end of 2024 or early next year. She stated it during a recent press briefing of the Lagos State Real Estate Regulatory Authority in Ikeja, Lagos. She said, “We all see what is being done in other climes, rents are collected monthly. Hence, we are looking and hoping that before the end of the year, or by early next year, we will be able to implement…

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UBA takes centre stage at ECOWAS Mining and Petroleum Forum

Jide Ige

Africa’s Global Bank, United Bank for Africa (UBA) Plc, has been announced as the official sponsor of the 4th edition of the ECOWAS Mining and Petroleum Forum (ECOMOF 2024) scheduled to take place at the Palais des Congrès in Cotonou, Benin from February 22 to February 24, 2024. The regional event is expected to see a large gathering of key players and stakeholders in the mining and petroleum sectors of the Economic Community of West African States (ECOWAS) and as the financial institution of choice, with presence in 20 African…

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Squad Powers OmniPay’s Trade Business to Simplify Payments for FMCG Industry

Jide Ige

In a strategic move aimed at furthering its mission to empower African traders with the necessary payment solutions for thriving in the digital era, Squad, a fintech subsidiary of Guaranty Trust Holding Company Plc (GTCO), offering comprehensive payment and e-commerce solutions for businesses, has entered a partnership with OmniPay, a subsidiary of OmniRetail Inc. This collaboration has currently benefited more than 65,000 stakeholders, which include retailers, distributors, and manufacturers through improved payment and collection methods using Squad’s Virtual Bank Account without incurring any charges. Additionally, they have gained more accessible…

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Senate proposes 6-year tenure for CBN gov, N1trn recapitalization for banks

Jide Ige

The Senate is considering sweeping reforms in the administration and function of the Central Bank of Nigeria by amending the CBN Act, 2007. Some of the amendment being proposed include the pegging of the tenure of governor of the apex bank to six years single term as against renewable five years in the extant act, a N1 trillion recapitalization for commercial banks which presently stands at N100 billion to meet the demands of President Bola Ahmed Tinubu’s N1 trillion Dollar projected economy amongst others. The amendment bill was passed for…

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Subsidy removal: Petrol import reduces by 990million litres per month -Minister

Jide Ige

The Minister of Information and National Orientation, Mohammed Idris, on Wednesday, said the importation of Premium Motor Spirit, popularly called petrol, into Nigeria has reduced by 50 per cent since the withdrawal of subsidy on the commodity. During his inaugural speech on May 29, 2023, President Bola Tinubu declared that fuel subsidy was gone. Within 24 hours after that declaration, the Nigerian National Petroleum Company Limited, Nigeria’s sole importer of PMS, withdrew subsidy on petrol. This led to a jump in the price of the commodity from about N198/litre to…

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Why we are probing Buhari, Emefiele -Senate President, Akpabio

Jide Ige

Godswill Akpabio, Nigeria’s Senate President has revealed that the current food and security crises confronting the nation now are traceable to the way and manner the Ways and Means loan granted by the Central Bank of Nigeria during Godwin Emefiele’s tenure as Governor to the Buhari administration were given, collected and spent which has necessitated a probe of the immediate past administration. The Nigerian Senate on Tuesday resolved to probe how the N30tn Ways and Means loans of the Central Bank of Nigeria was obtained and spent by the administration…

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Nigerians can’t afford beer any more – Brewery boss laments

Jide Ige

The Chief Executive Officer of Nigerian Breweries Plc, Hans Essaadi, has said that the economic situation in Nigeria has deteriorated to the extent citizens can no longer afford to buy beer. Essaadi said this on Monday at the company’s investor call following the release of its 2023 results. “It has been unprecedented year for our business in Nigeria. We saw a significant decline in the mainstream lager market as a result of Nigerian consumers no longer able to afford a Goldberg after a hard day’s work,” Bloomberg quoted Essaadi as…

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Why we are moving Computer Village out of Ikeja -LASG

Jide Ige

“We are moving the village into a place where their business would thrive while maintaining the status quo, Ikeja Computer Village was a residential area before, it is presently, and I think it will continue to be a residential area. We must ensure that things are done according to the law, since the law says it is a residential area, it should remain as such.

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FIRSTBANK CLINCHES THE PRESTIGIOUS CORPORATE BANK AWARD AT THE 2023 EUROMONEY AWARDS FOR EXCELLENCE

Jide Ige

FirstBank, Nigeria’s premier financial institution and financial inclusion services provider, was announced as the Best Corporate Bank at the recent prestigious Euromoney Awards for Excellence, Nigeria 2023. The Bank clinched the coveted award based on its 130-year commitment to enabling its corporate customers achieve success through relevant and tailored financial solutions. FirstBank’s continuous investment in technology has been crucial to its leading industry role in optimally meeting the needs of its corporate customers. Recent investments in technology include the development of its smart and interactive Transaction Banking Platform known as…

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FIRSTBANK SET TO REWARD CUSTOMERS WITH 36 MILLION NAIRA IN THE SECOND SEASON OF ITS FIRSTMOBILE CASH-OUT PROMO

Jide Ige

FirstBank has launched the second season of its Cash Out promo designed to reward users of FirstMobile, its industry-leading mobile banking solution. The FirstBank Cash Out Promo 2.0 which began on Monday, 15 January 2024, ends on Friday, 15 March 2024, and is open to new and existing customers. Leading up to the grand finale – with 1 million naira up for grabs – the promo comprises three distinct categories, each offering attractive rewards comprising N10,000 worth of airtime and data, N20,000.00, and N100,000.00 respectively. In the first category, 100…

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