Banking & Finance – National Infinity Magazine

FirstBank, EStars forge innovative partnership to elevate ESports education

FirstBank, the West African premier bank and financial inclusion service provider, is proud to announce a strategic collaboration with EStars Education Africa Limited (EStars), a global leader in educational esports. Empowering the Next Generation of Esports Professionals The partnership provides a platform for FirstBank to support the rollout of EStars’ comprehensive esports qualifications, including entry-level Certificates and BTEC courses in esports. These programmes are designed to equip students with the necessary skills and knowledge to excel in the burgeoning esports industry. Innovative Financial Solutions for Gamers In addition to educational…

How Pilot’s error, negligence caused Wigwe’s helicopter crash

The United States National Transportation Safety Board has attributed the helicopter crash that killed former Access Holdings CEO, Herbert Wigwe, his wife, son, and three others to pilot error caused by spatial disorientation. The NTSB report, released on Wednesday, further indicted the helicopter company, accusing it of “inadequate oversight of its safety management processes”. This was contained in the NTSB final report unravelling the reasons for the helicopter crash in February 2024. Preliminary report had earlier shown that the helicopter, registered as N130CZ, crashed while operating under visual flight rules…

VDM arrested over multiple petitions, no connection with GTCO -EFCC

The Economic and Financial Crimes Commission has said that the arrest of social media activist, Martins Otse, popularly known as VeryDarkMan, was carried out over multiple petitions submitted to its agency by different individuals and no connection with GTBank. The anti-graft agency confirmed to BBC News Pidgin through its spokesperson, Dele Oyewale, on Monday. According to him, VeryDarkMan was taken into custody following complaints from several petitioners on the allegation of cyberstalking. He said, “We arrested him to respond to a series of allegations raised against him by some petitioners.…

GTCO Sustains Profitability Momentum with Growth in Core Income – Declares PBT of ₦300.4Billion in Q1 2025

Guaranty Trust Holding CompanyPlc (“GTCO” or the “Group”) has released its Unaudited Consolidated and SeparateFinancial Statements for theperiodended March 31, 2025, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE). The Group reported profit before tax of ₦300.4billion on the back of strong performance posted on the core earnings lines of interest income which grew y-o-y by 41.1% and fee income up by 41.2%.The strong performance enabled the group to douse the impact of the ₦331.6billion fair value gains recognised in Q1-2024 which did not recur in Q1-2025.…

Zenith Bank pays N195.67bn dividends to shareholders, promises quantum leap in future

Shareholders of Zenith Bank Plc, at the 34th Annual General Meeting (AGM) held at the Civic Centre, Victoria Island, Lagos, on Tuesday, April 29, 2025, approved the proposed final dividend payment of NGN4.00 per share, bringing the total dividend for the 2024 financial year to NGN5.00 per share, with a total value of NGN195.67 billion. The Founder and Chairman of Zenith Bank Plc, Jim Ovia, CFR, thanked the shareholders for their unflinching support and commitment, which have been responsible for the bank’s stellar performance over the years. He noted that…

Hackers hit Union Bank, steal depositors’ N93bn

Union Bank of Nigeria Plc is currently grappling with a massive N9.3 billion fraud following a significant operational system breach. . The development comes exactly one year and three months after the Central Bank of Nigeria (CBN) sacked the bank’s board and entire management, citing governance failures. A new management team was subsequently appointed to lead the financial institution. Union Bank is battling to recover the sum of N9,329,322,870.00 (nine billion, three hundred and twenty-nine million, three hundred and twenty-two thousand, eight hundred and seventy naira), withdrawn from customers’ accounts…

GTCO Plc pays record dividend of N8.03k for 2024 Financial Year

Guaranty Trust Holding Company Plc (“GTCO” or the “Group”) has released its Audited Consolidated and Separate Financial Statements for the year ended December 31, 2024, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE). The Group reported profit before tax of ₦1.266trilion, representing an increase of 107.8% over ₦609.3billion recorded in the corresponding year ended December 2023. This performance reflects not just strong earnings but also the quality and sustainability of our earnings, underpinned by a well-diversified revenue base, robust risk management practice, and disciplined capital management. The…

FirstBank issues official statement on appeal case with GHL

INJUNCTION AND STAY OF EXECUTION CARGO REMAINS UNDER ARREST In a surprising twist of events, its decision delivered today, the Federal High Court in a surprising shift from the true nature of FirstBank ’s claim held that the matter is not a maritime claim but rather, a simple case of debt recovery. This is quite surprising considering the fact that the order sought is to prevent further fraudulent sale of crude on the FPSO. Shockingly, the court also held that the Arrest Order against the cargo, because it was exparte…

Zenith Bank’s PAT soars above N1trn in full 2024, prospects N4.00 final dividend

Zenith Bank Plc has announced its audited financial results for the year ended December 31, 2024, delivering significant growth across key performance indicators. The Bank’s impressive performance reflects effective management and pricing of its risk assets, as well as an optimized treasury portfolio, reinforcing its position as a leader in Nigeria’s banking industry. According to the audited financial results for the 2024 financial year presented to the Nigerian Exchange (NGX), the Bank recorded a double-digit year-on-year (YoY) growth of 86% in gross earnings, increasing from N2.13 trillion in 2023 to…

Lagos/Ogun Multi-sector Trade Fair: Organizers declare free to attend fair, expect 100k visitors

Organisers of the forth coming Lagos/Ogun Multi-sector Tradefair have announced that the 4-day free to attend event is expected to attract over 100,000 visitors from across Nigeria and beyond. The trade fair, scheduled to run from April, 16-19, 2025 at De Blue Roof Event Centre, Lateef Jakande road Agidingbi, Ikeja, will feature about 120 exhibitors showcasing their products and services across various sectors, including agriculture, manufacturing, technology, and more. “We are excited to host the Lagos/Ogun Multi-sector Trade fair, which has become a premier platform for businesses to connect, innovate,…

GTCO Transforms Lives with Waste-for Gas Initiative, Distributes 3,000 Gas Cylinders to Obafemi Owode Community

As part of its ongoing efforts to enhance the quality of life for households and empower women in underserved communities, GTCO PLC at the weekend launched its Waste for Gas initiative which saw over 3,000 residents of Obafemi Owode Local Government Area of Ogun State, receive a unit each of a 3kg gas cylinder. Speaking about the initiative, the Group Chief Executive Officer, GTCO PLC, Mr. Segun Agbaje noted that beyond delivering innovative financial solutions, the institution is deeply committed to making a meaningful impact in the communities where it…

FirstBank’s topshot forfeits N1.1bn, $392,818 fraud money to FG

Wura Kelani, Crime Reporter

A former top official of First Bank of Nigeria, Muiz Tijani Adeyinka, has forfeited the sum of N1,168,602,877.44; $392,818.01 and £35,070 recovered from him to the Federal Government. Justice A. O. Owoeye of the Federal High Court sitting in Ikoyi, Lagos, ordered the final forfeiture of the monies on Tuesday. The judge gave the order following a motion on notice for the final forfeiture which was supported with an affidavit deposed to by Isah Yusuf Nadabo, an investigator with the Economic and Financial Crimes Commission, EFCC. Justice Owoeye had, on…

Zero Processing Fee; GTBank Removes POS Processing Fees to Support Businesses

Guaranty Trust Bank Ltd has announced the removal of processing fees on all GTBank POS terminals, reinforcing its commitment to supporting businesses with cost-effective payment solutions. This initiative, which took effect Tuesday, 11 February 2025, communicates that merchants using GTBank POS terminals will no longer incur Merchant Service Charges (MSC) when receiving payments from customers. With this initiative, all qualifying SME Merchants can now receive payments at zero cost, allowing them to reduce operational expenses, whilst promoting the merchant’s enterprise, and enhancing customer experience. Speaking on the initiative, Miriam Olusanya,…

Habaripay’s Squad announces dates for take on Squad Hackathon 2.0, invites applications from young innovators across Africa

HabariPay’s Squad, payment fintech subsidiary of Guaranty Trust Holding Company Plc (“GTCO” or the “Group”), today announced dates for its annual social coding competition. Building on the success of the inaugural edition, “Squad Hackathon 2.0” is set to take place from the 13th–15th of March 2025 at the state-of-the-art GTCO Training Complex, Tayo’s Plaza, Abeokuta, Ogun State. Launched in January 2024, Take on Squad Hackathon is designed to foster creativity, collaboration, and problem-solving skills among emerging tech talents. Competing teams will leverage Squad’s advanced APIs to create scalable digital solutions…

Ex-Firstbank staff forfeits billions to FG

Wura Kelani, Crime Reporter

Justice A.O. Owoeye of the Federal High Court sitting in Ikoyi, Lagos, has ordered the final forfeiture of the sums of N1,168,602,877.44, (One Billion, One Hundred and Sixty Eight Million, Six Hundred and Two Thousand, Eight Hundred and Seventy Seven Naira, Forty Four kobo) $392,818.01 (Three Hundred and Ninety Two Thousand, Eight Hundred and Eighteen United States Dollars, One Cent) and £35,070 (Thirty Five Thousand, Seventy Pound Sterling) recovered from one Muiz Tijani Adeyinka, a former employee of First Bank of Nigeria, FBN, to the Federal Government of Nigeria, FGN.…

Access Bank appoints Uche Orji as Independent Non-Executive Director

Access Holdings Plc (‘the Company’) is pleased to announce the appointment of Mr. Uche Orji as an Independent Non-Executive Director of its flagship subsidiary, Access Bank Plc (‘the Bank’), effective from January 7, 2025, following the approval of the Central Bank of Nigeria (‘CBN’). This appointment reflects our commitment to enhancing our governance practices and ensuring a diverse and experienced board. Mr. Orji is a renowned investment banking professional, information technology entrepreneur, and finance expert with three (3) decades of professional and board experience. He is the Co-founder and Partner…

NESG Appoints Wole Adeniyi, Mohamad Darwish, and Olusegun Alebiosu as Board Members

Jasmin Ekua, Banking & Finance

The Nigerian Economic Summit Group (NESG) has announced the appointment of three leaders, Mr Wole Adeniyi, Mr Mohamad Darwish, and Mr Olusegun Alebiosu, to its board of directors. These appointments reflect the NESG’s steadfast dedication to promoting visionary leadership and strengthening partnerships with key business leaders and private sector stakeholders. The addition of these accomplished professionals is expected to drive strategic initiatives aimed at transforming and advancing Nigeria’s economic landscape. Wole Adeniyi is the Chief Executive Officer of Stanbic IBTC Bank Ltd and is responsible for driving the institution’s strategy…

Access Bank to Host Pioneering Africa Trade Conference in Cape Town

Access Bank PLC is set to host its first-ever Africa Trade Conference (ATC), a landmark event focused on advancing Africa’s economic transformation under the theme,‘Empowering Africa Through Trade, Innovation, and Sustainable Growth’.Scheduled for March 12, 2025, in Cape Town, South Africa, the conference is poised to bring together the most influential voices in trade, finance, and policy to address the future of commerce across the continent. With Africa’s trade finance gap estimated at $81 billion annually, the conference aims to tackle the systemic challenges hindering trade, particularly for SMEs and…

Union Bank’s Save and Win Palli Promo 4 rewards 360 customers with N21min first draw

UNION BANK REWARDS 360 CUSTOMERS WITH N21 MILLION IN FIRST SAVE AND WIN PALLI PROMO 4 DRAW Nigeria’s leading financial institution, has kicked off its Save and Win Palli Promo 4 campaign on a high note following the announcement of its first set of winners in its inaugural monthly draws. The first live draw of this season, which took place at the Bank’s Head Office in Marina, Lagos, rewarded 60 customers with ₦100,000 each. Additionally, 300 other winners went home with ₦50,000 worth of gift vouchers during the inaugural live…

The NPA Lagos International Polo Tournament Returns with GTCO as Headline Sponsor

Guaranty Trust Holding Company Plc (GTCO) is proud to be the headline sponsor of the 2025 NPA Lagos International Polo Tournament. The highly-anticipated Polo Series will be held at the prestigious Lagos Polo Club, Ikoyi, from 4th to 23rd February 2025. A staple in Nigeria’s sporting and social calendar, the NPA Lagos International Polo Tournament is celebrated for its rich heritage, thrilling competitions, and vibrant atmosphere. Last year’s tournament delivered a thrilling six chukkas encounter that saw Leighton Kings dispatch a hard-fighting Art Hotel Shoreline team to retain the coveted…

FirstBank’s FirstGem: Redefining Women’s Empowerment in Nigeria

Wura Kelani, Crime Reporter

The story of women’s contribution to Nigeria’s economy is as old as the nation itself. It is no secret that women are the largest untapped source of national wealth worldwide. All over the world, women hold their place of pride in commercial enterprise. The Nigerian businesswoman have for a long time faced significant barriers in accessing the financial services and business support needed for their businesses to thrive. Globally, traditional banking failed to recognize the unique challenges of female entrepreneurs. It is against this backdrop that the 2019 International Women’s…

Police indict Sterling Bank in ‘$28.3m money laundering, fraud’

Sterling Bank Limited and its holding company, Sterling Financial Holdings Company have been accused by the Nigeria Police Force of money laundering, fraudulent deductions and other financial crimes. This was contained in a report presented to the House of Representative Committee on Public Petition during the hearing of a petition by Maiden Systems Ltd against Sterling Bank, Central Bank of Nigeria (CBN) and Shell Petroleum Development Company in Abuja. Maiden system Ltd had petitioned the Committee on alleged mismanagement, fraudulent debit, and misappropriation of funds from its account domiciled with…

EFCC to arraign FirstBank’s ex-Chairman, Otudeko, ex-CEO, Onasanya for N12.3bn fraud

The Economic and Financial Crimes Commission, EFCC, is set to arraign Oba Otudeko, a former chairman of First Bank of Nigeria FBN Holdings, and Stephen Bisi Onasanya, a former Managing Director of First Bank of Nigeria Limited before a Federal High Court in Lagos for alleged N12.3billion loot. According to reports, Otudeko who is the chairman of Honeywell Group and Onasanya, now CEO of Address Home Limited, will be arraigned alongside a former board member of Honeywell, Soji Akintayo and a firm, Anchorage Leisure Limited linked to Otudeko. Otudeko, Onasanya,…

Court Order Blacklists Nduka Obaigbena, family from financial transactions over $718m First Bank Debt

The Lagos Division of the Federal High Court has ordered all banks operating in Nigeria to blacklist media executive Nduka Obaigbena and members of his family over alleged debt to First Bank of Nigeria. The December 30, 2024 Mareva order also sought to prevent Mr Obaigbena from moving any assets linked to him from the jurisdiction of the Federal High Court. First Bank had filed a debt-recovery suit against Mr Obaigbena and his family members, including Efe Damilola Obaigbena and Olabisi Eka Obaigbena, saying they used their oil servicing firm…

ALEBIOSU: In line with our vision, FirstBank is well-positioned to break new grounds in 2025 and beyond

As the foremost Nigerian bank, First Bank of Nigeria Limited no doubt has a history of curating products and services that not only meet the immediate and future needs of its customers. In this interview with THISDAY, the bank’s Managing Director/Chief Executive Officer, Mr. Olusegun Alebiosu described 2025 as the beginning of the bank’s new strategic planning horizon when it is poised to double down on its market dominance position across all the markets where the bank operates. What’s your view on the global economic outlook in 2025, and what…

GTCO raises ₦209bn in first phase of equity capital raise programme

Guaranty Trust Holding Company Plc (“GTCO Plc” or the “Group”) (NGX: GTCO) is pleased to announce the successful completion of the first tranche of its equity capital raise programme, following the completion of the capital verification exercise conducted by the Central Bank of Nigeria (CBN) and the approval of the Basis of Allotment of the Offer by the Securities and Exchange Commission (SEC). The Offer, which garnered substantial interest from domestic retail investors, raised a total of ₦209.41 billion from 130,617 valid applications for 4,705,800,290 Ordinary Shares, fully allotted. This…

Access Holdings win ‘Company of the Year’ at Nigerian of the Year 2024

Access Holdings Plc., the parent company of Access Bank has emerged as Company of the Year at the Nigerian of the Year 2024 awards The award, instituted in 2010 by National Infinity Magazine, has honoured notable Nigerians and institutions from all walks of life including public servants and business people and has expanded into recognitions for deserving corporate organisations. Biodun Abayomi Oyebanji, the governor of Ekiti State and a well-respected philanthropist monarch from Southwest Nigeria, His Royal Majesty, Oba Adedokun Omoniyi Abolarin, the Orangun of Oke-Ila, in Osun State, were…

Access Holdings win ‘Company of the Year’ at Nigerian of the Year 2024

Access Holdings Plc., the parent company of Access Bank has emerged as Company of the Year at the Nigerian of the Year 2024 awards The award, instituted in 2010 by National Infinity Magazine, has honoured notable Nigerians and institutions from all walks of life including public servants and business people and has expanded into recognitions for deserving corporate organisations. Biodun Abayomi Oyebanji, the governor of Ekiti State and a well-respected philanthropist monarch from Southwest Nigeria, His Royal Majesty, Oba Adedokun Omoniyi Abolarin, the Orangun of Oke-Ila, in Osun State, were…

Greenwich Group celebrates 30th Anniversary, set to break new territories

The Greenwich Group, a leading financial solutions provider in Nigeria, is celebrating 30 years of delivering innovative financial solutions tailored to the evolving needs of stakeholders while contributing to the growth and development of the Nigerian economy. The lead institution, formerly known as Greenwich Trust Ltd, has transitioned from its early days as a Financial Adviser and Issuing House into a Merchant Bank. In March 2024, Greenwich Merchant Bank was granted an Approval- In-Principle (AIP) by the Central Bank of Nigeria (CBN) for a non-operating financial holding company structure. Today,…

Access Holdings Plc secures full regulatory approvals for recently closed rights of ordinary shares

Jasmin Ekua, Banking & Finance

Access Holdings Plc (‘the Company’) today announces that it has secured the full regulatory approvals of the Central Bank of Nigeria and the Securities and Exchange Commission of its recently closed Right Issue of 17,772,612,811 Ordinary Shares of 50 Kobo each at N19.75 Kobo per share (‘the Rights Issue’) and has raised the target amount of N351,009,103,017.25. This development has positioned the Company’s flagship subsidiary, Access Bank Plc (‘the Bank’) as the first bank to meet the Central Bank of Nigeria’s N500 billion minimum capital requirements for Banks with International…

Why NNPCL took $1bn loan for Dangote refinery -Spokesperson

The Nigerian National Petroleum Company Limited (NNPCL) has revealed that the federal government through the company took a loan of $1 billion to support the Dangote refinery project when it encountered some financial difficulties. NNPC’s Head of Corporate Communications, Olufemi Soneye, made the disclosure during his remarks at the Energy Relations Stakeholder Engagement in Abuja. Highlighting the achievements of the apex national oil company under the leadership of Mallam Mele Kyari, Sonoye said: “Permit me to digress a bit! Under the visionary leadership of Mele Kyari, NNPC Ltd has achieved…

FirstBank kicks off DECEMBERISSAVYBE 2024 with Kenny Blaq’s Musicomedy

Jasmin Ekua, Banking & Finance

By Bolaji Israel December marks a special time in Nigeria, a moment when people take a break from their hectic year to unwind, celebrate, and create lasting memories with loved ones. The month is filled with vibrant arts and entertainment, including plays, musical concerts, festivals, operas, fashion shows, poetry, and various performance arts. As the month unfolds, the atmosphere is electrified with fireworks, street carnivals, and colourful Christmas decorations, complemented by numerous year-end thanksgiving parties. It’s also a time for bonding, as Nigerians reconnect with family and friends visiting from…

More troubles for ex-Bank PHB boss as EFCC arraigns Atuche for forgery

The Economic and Financial Crimes Commission has re-arraigned the former Managing Director of the defunct Bank PHB Plc, Francis Atuche, alongside two others, on charges of forgery and conspiracy. According to a statement on Monday via X, the re-arraignment took place on Monday, before Justice O. O. Abike-Fadipe at the Special Offences Court in Ikeja, Lagos. Atuche was charged alongside Nnosiri Joachim, also known as Ifeanyi, and Uguru Onyike, in a nine-count indictment involving allegations of forging board resolutions of companies to defraud financial institutions. One of the charges reads,…

First Bank corrects misleading information regarding fraud allegations

We have been made aware of a recent publication by Tech Cabal containing allegations of fraud involving our institution. We wish to categorically state that the story is entirely unfounded and not supported by any factual evidence. About FirstBank First Bank of Nigeria Limited “FirstBank”, established in 1894, is the premier bank in West Africa, a leading financial inclusion services provider in Africa, and a digital banking giant. FirstBank’s international footprints cut across three continents ─ Africa, Europe and Asia, with FirstBank UK Limited in London and Paris; FirstBank in…

ACCESS BANK UK LIMITED TO STRENGTHEN EUROPE-AFRICA TRADE TIES WITH LAUNCH OF THE ACCESS BANK MALTA LIMITED

Access Holdings Plc has announced that its banking subsidiary, Access Bank UK Limited, has established its first fully owned subsidiary in Malta. The disclosure, published on the Nigerian Exchange on December 10, 2024, and signed by the company’s secretary, Sunday Ekowchi, stated that the new entity will operate as Access Bank Malta Limited. According to the statement, the move is part of Access Holdings’ global expansion strategy and has received licensing approvals from the European Central Bank (ECB) and the Malta Financial Services Authority (MFSA). The company noted: “The banking…

Nigerians lament as naira scarcity worsens amid hardship

Mobile money agents have become a familiar sight across Nigeria, using handy point-of-sale machines to provide essential services to millions of people without access to banking, particularly in hard-to-reach rural areas. Even on the streets of major cities, they have become a go-to, due to an ongoing shortage of cash at ATMs since a much-vilified redesign of the national currency, the naira, last year. “There are three of them (agents) on my street alone,” Chi Etche, a 29-year-old media executive, told AFP. “This means I don’t need to take a…

Union Bank, Ahmed Kuru, others face criminal charges over Arik Air N125b fraud

Ex AMCON Boss Ahmed Kuru, Union Bank, Others Face Criminal Charges Over Arik Air N125b Fraud The former Managing Director of the Assets Management Cooperation of Nigeria (AMCON), Ahmed Lawal Kuru, has been named in a fresh N125 billion alleged fraud regarding the taking over of Arik Air Limited. This time, the AMCON boss is said to have conspired with the Union Bank of Nigeria Plc and others to perpetrate the fraud. In this vein, the Economic and Financial Crimes Commission (EFCC) has filed six-count criminal charges Ahmed Lawal Kuru,…

Ex-AMCON boss Ahmed Kuru, ex-Keystone Bank Chairman, Modibbo, former Heritage Bank CEO, Sekibo, to be tried for N20bn fraud

The former Managing Director of Asset Management Corporation of Nigeria, (AMCON), Ahmed Kuru is set to be arraigned on February 11, 2025, on another fresh charge for the fraudulent conversion of the sum of ₦20bn AMCON funds. The fresh six-count charge filed by the Economic and Financial Crimes Commission (EFCC) disclosed that the AMCON funds were converted through Heritage Bank to the use of a company, Sigma Golf Nigeria Ltd for the acquisition of Keystone Bank. Kuru and his co-defendants, the former Chairman of Keystone Bank, Umaru Hamidu Moddibo, and…

Access Bank staff in police net for stealing N18m from customer’s account

The Katsina State Police Command has paraded the Head of Automated Teller Machine (ATM) operations at the Daura branch of Access Bank in Katsina State has confessed to conspiring with a colleague to steal about N18 million belonging to a customer of the bank. “I primed an ATM card for a colleague and friend of mine, and he said N18 million was the dividend from the bank, of which he sent me N10 million,” the suspect, Adewumi Bolaji Gabriel, said when the police paraded him along with others for sundry…

Zenith Bank wins highly coveted Bank of the Year award in Banker Award 2024

Jasmin Ekua, Banking & Finance

Zenith Bank Plc has emerged as ‘Bank of the Year, Nigeria’ in The Banker’s Bank of the Year Awards 2024. The award, which was announced by The Banker Magazine, Financial Times Group, United Kingdom, during the awards ceremony held in London on December 4, 2024, is in recognition of the bank’s strong management, sound business model and strategy, and approach to sustainability and ESG banking practices. The Banker’s ‘Bank of the Year’ accolade is among the most coveted and widely regarded award in the banking industry. Often contested by the…

Details of Court papers that proved Emefiele owned 753 Abuja housing units

Idi Musa, an investigating officer at the Economic and Financial Crimes Commission (EFCC), has described how Ifeanyi Okeke who was a deputy general manager at the Zenith Bank fronted for Godwin Emefiele to fraudulently acquire real estate investments across Nigeria. Musa spoke under oath before the High Court of the Federal Capital Territory, according to a court affidavit published by Empowered Newswire on Tuesday. The testimony formed part of the basis upon which the court granted a permanent forfeiture of 753 uncompleted residential estate duplexes on Monday, the EFCC’s single…

Greenwich Merchant Bank names Ogundeji, MD

Jasmin Ekua, Banking & Finance

The Board of Directors of Greenwich Merchant Bank Limited has announced the appointment of Mr. Benson Ogundeji as its substantive Managing Director/Chief Executive Officer, following the receipt of the approval of the Central Bank of Nigeria (CBN). The Chairman of the Board, Mr. Kayode Falowo, stated, “The Board is pleased to announce the appointment of Benson Ogundeji as our Managing Director/Chief Executive Officer”. Ogundeji brings over three decades of extensive banking experience to this role. A seasoned financial services professional, he previously served as Executive Director at Greenwich Merchant Bank…

CBN to pay N50bn to 1,000 staff slated for retirement

Barring any last-minute changes, the Central Bank of Nigeria (CBN) will soon retire about 1,000 of its employees before the end of the year, investigations by Daily Trust have shown. Reliable sources at the apex bank’s headquarters revealed that the retirement would gulp over N50 billion in payoff to the affected workers. In what it described as a strategic realignment of its workforce, the CBN’s Board of Governors, led by Olayemi Cardoso, had expressed commitment to reducing the workforce. In the last 10 months, the CBN had disengaged many of…

Zenith Bank expands global footprints with Paris branch

Zenith Bank Plc has expanded its global footprints with the opening of Zenith Bank (UK), Paris Branch. The official commissioning, which took place on Wednesday, November 27, 2024 at 21 Rue de la paix,Paris, France was performed by theHonourable Minister of Finance and Coordinating Minister of the Economy,Mr. Wale Edun. The opening of Zenith Bank, Paris, a Third-Country Branch (TCB) of Zenith Bank (UK) Limited, a subsidiary of Zenith Bank Plc, represents a key milestone in the bank’s global growth strategy and underscores its commitment to serving clients in the…

Access Bank acquires Standard Chartered Bank in Angola, Sierra Leone

Further to our July 14, 2023 announcement regarding the above subject, Access Holdings PLC (‘Access Holdings’ or ‘the Company’) is pleased to announce that its flagship subsidiary, Access Bank PLC (‘Access Bank’ or ‘the Bank’) has completed the acquisition of Standard Chartered Bank Angola S.A and Standard Chartered Bank (Sierra Leone] Limited (‘the Acquisitions’). Commenting on the completion milestone, Roosevelt Ogbonna, the MD/CEO of Access Bank PLC and CEO of the Banking Group said: ‘We are pleased to have successfully concluded 2 important acquisitions in Angola and Sierra Leone, affording…

Lagos shines brighter as Zenith Bank lights up Ajose Adeogun for yuletide

In keeping with its acclaimed annual tradition, Zenith Bank once again set the stage for the Yuletide season with the Light-Up of Ajose Adeogun Street and Roundabout, Victoria Island, Lagos on Saturday, 23 November 2024. The Light-Up ceremony was performed by the Group Managing Director/Chief Executive of Zenith Bank Plc, Dame (Dr.) AdaoraUmeoji, OON. The Light-Up ceremony is a Corporate Social Responsibility (CSR) initiative of Zenith Bank. Now in its 18th year, the beautiful Christmas decoration, which transforms the entire stretch of Ajose Adeogun Street (home to Zenith Bank’s Corporate…

No customer’s fund missing in our custody, Access Bank responds to viral video

Jasmin Ekua, Banking & Finance

Our attention has been drawn to a video on social media wherein allegations of missing funds and unethical behaviour have been made against Access Bank PLC. First and foremost, we wish to emphasise that the safety and security of our customers’ funds are core priorities which we take seriously. Second, Access Bank Plc does not engage in or condone any unethical behaviour. In the instant case, the allegations of missing funds in the Bank are most untrue and baseless. There is no N500million or any other fund or amount missing…

Herbert Wigwe: Access Holdings Chairman, Aig-Imoukhuede named in Wigwe family’s will crisis

Christian Chukwuka Wigwe, a cousin of the late Herbert Wigwe and former group managing director and CEO of Access Bank, has filed an Affidavit of Truth accusing Aigboje Aig-Imoukhuede of taking indirect guardianship and custody of the deceased’s assets and children. According to the affidavit filed at the Lagos High Court Probate Registry, Christian stated that Aig-Imoukhuede, who was a business partner to the deceased, is taking on a role that should rightfully belong to Pastor Shyngle Wigwe, the grandfather of the children. A report by WESTERN POST said that…

63 Years of Empowering Golfing Excellence: FirstBank presents the Lagos Amateur Open Golf Championship

FirstBank, Nigeria’s premier financial institution and leading provider of financial inclusion services, is proud to announce the 63rd edition of the FirstBank Lagos Amateur Open Golf Championship. This prestigious international golf tournament, held under the First@Sports initiative, reinforces FirstBank’s unwavering commitment to sports development and nation-building. A Legacy of Sporting Excellence For over six decades, FirstBank has been a driving force in promoting sports in Nigeria, with a focus on golf, polo, and tennis. The FirstBank Lagos Amateur Open Golf Championship stands tall as Nigeria’s most esteemed international golf tournament,…

Wigwe: Family reacts, says no issues

The Wigwe family has reacted to a story making the rounds that members of the Wigwe family are at loggerheads over the property left behind by the former Group Managing Director of Access Holdings, late Herbert Wigwe. According to a statement signed by Emeka Wigwe, the Wigwe family stated that there was no issue regarding the property left behind by the deceased. The statement reads “We, the family of Pastor Shyngle Wigwe, wish to address a recent article titled “Family Dispute Erupts Over Estate of Late Banking Executive Herbert Wigwe”…