Business – National Infinity Magazine

NNPCL diverted N2.68tn, $9.77m, shunned probe invitations – Report

Amid its controversial financial dealings that have negatively impacted the nation’s financial standing, the Nigerian National Petroleum Company Limited has been accused by the Auditor-General of the Federation of diverting a total sum of N2.68tn and $9.77m in the last four years. Findings by Sunday PUNCH using the Auditor-General’s annual reports published between 2017 and 2021 showed that N1.33tn was diverted in 2017, N681.02bn in 2019, N151.12bn, ($19.77m) in 2020 and N514bn in 2021 amounting to N2.68tn and $19.77m over four years. The reports, which were submitted to the National…

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

Jide Ige

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

Jide Ige

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

Jide Ige

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

Jide Ige

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…

Nigerian of the Year 2024: PWAN Group wins Real Estate Company of the Year

Jide Ige

PWAN Group a foremost real estate network marketing and development company emerged as Real Estate Company of the Year for its massive expansion and innovative approach to business development in that sector. 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. Others slated for recognition at the Nigerian of the Year 2024 Awards are Mr. Biodun Oyebanji, the Executive Governor of Ekiti State, for…

11 suspects arrested as Army destroys 21 illegal refineries in Niger Delta

Wura Kelani, Crime Reporter

The 6 Division of the Nigerian Army has announced the destruction of 21 illegal oil refining sites, the arrest of 11 suspected oil thieves, and the recovery of 190,000 litres of stolen petroleum products in the Niger Delta. The Army stated that these successes were a result of its intensified operations, conducted in collaboration with other security agencies, aimed at dismantling the network of criminal enterprises run by oil thieves in the region. The Acting Deputy Director of the 6 Division Army Public Relations, Lt. Col. Jonah Danjuma, disclosed this…

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

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Port Harcourt, Kaduna refineries, my own story by Obasanjo

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Nigeria’s former President, Olusegun O basanjo has revealed new details about Nigeria’s refineries’ woes, recounting failed efforts to privatise the plants and the subsequent alleged financial losses of about $2bn by the facilities under government management. Obasanjo disclosed this on Thursday as the Nigerian National Petroleum Company Limited beckoned the ex-President to visit the recently revamped refineries for a tour. The former President said his successor, Umaru Musa Yar’Adua, rejected a $750m offer from Aliko Dangote, Chairman of Dangote Group, to manage the Port Harcourt and Kaduna refineries in 2007.…

Ekiti State Gov., Oyebanji, philanthropist King, Adedokun Abolarin named National Infinity Magazine’s Nigerian of the Year 2024

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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, have been named Nigerian of the Year 2024. 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. In recognising Oyebanji, the sixth executive governor of Ekiti State who turned 57 on December 21, in…

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

Jide Ige

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…

Christmas: Its low key, as consumers lament high prices

Jide Ige

As Nigerians celebrate Christmas, traders across various markets in Nigeria are lamenting poor patronage amid skyrocketing food prices, a sharp contrast to the festive sales experienced in previous years. In Lagos, Abuja, Osun, Rivers, Edo, Kano, Kaduna, and Sokoto, among other states, traders decried the high cost of food items and ever-increasing food inflation on the jump in the petrol pump prices nationwide. This came as consumers of food commodities called on the Federal Government to work hard to address the spike in Nigeria’s inflation, as they lamented their inability…

Alake on Rescue Mission: A review, by Tunde Rahman

Jide Ige

By Tunde Rahman “Alake on Rescue Mission” is much more than a photo book of activities, events and work of the Minister of Solid Minerals Development, Dr. Oladele Henry Alake, in one year in office. It’s a serious-minded and exciting piece of writing on the minister’s stewardship. If you see it as the official book on the Minister’s achievements in one year in office, you will hit the nail on the head. Appointed on August 15, 2023, Dr. Alake has spent around 14 months as Minister of Solid Minerals, meaning…

FG sack Julius Berger from Abuja-Kaduna dual carriageway

Jide Ige

The Federal Government has terminated the contract for the Rehabilitation of the Abuja-Kaduna-Zaria-Kano Dual Carriageway, Section I (Abuja-Kaduna) being handled by Julius Berger Construction company. The Minister of Works, David Umahi, had two weeks ago, threatened to revoke the contract after seven days if Julius Berger refused the federal government’s offer of N740.79bn for the completion of the 82km section II of the Abuja-Kaduna-Zaria-Kano. A statement by the Director of Press, Federal Ministry of Works, Mohammed Ahmed, said the decision was made following the failure of the management of Berger…

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

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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…

Oak Homes boss, Olusanya in court over alleged N152m real estate fraud, threat to client’s life

Jide Ige

The Chairman of Oak Homes Ltd, Olukayode Olusanya, is in the centre of an alleged real estate fraud as he has been accused of perpetrating a N152 million fraud. The matter is currently at the Federal High Court in Ikoyi, Lagos and has Bern adjourned to February 10, 2025. The high-profile case has gripped the public after explosive allegations emerged, including fraud, theft, and even a chilling threat to murder a U.S.-based Nigerian engineer, Anthony Ehiedu Ugbebor. According to court documents, Olusanya and Lynda Umeh, Oak Homes’ former head of…

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

Jide Ige

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,…

Finland freezes Simon Ekpa’s assets

Jide Ige

The authorities in Finland have frozen the assets of Simon Ekpa, the self-acclaimed Biafran agitator facing allegations of terrorism-related activities. According to Yle, a local newspaper, the Finnish government also froze the assets of companies associated with Ekpa and four of his accomplices, who are also in remand. The report said Ekpa is being held in the Kylmäkoski vankila, (Kylmäkoski prison), which is reputed to be one of the world’s toughest prisons. The prison was established in January 1993 in the Kylmäkoski municipality. On November 21, Ekpa was sent to…

Mikano Motors celebrates Changan night with CS95, X7 launch

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It was a night of fun and excitement on Thursday when Mikano Motors celebrated Changan Festive Night ‘24 with the launch of two premium models from Changan – the All-New CS95 and the X7 Plus. The launch was done at an exclusive event, which provided an opportunity for the audience comprising the customers, influencers and other invited guests to explore the latest innovations from Changan from their representatives. The unveiling was described as a celebration of a partnership that combines Changan’s global reputation for quality and innovation with Mikano Motors’…

Onyema endorses President Tinubu’s reforms, says he is working to stabilise businesses with his policies

Jide Ige

The Chairman and CEO of Air Peace, Allen Onyema, has commended President Bola Ahmed Tinubu, for his efforts in implementing policies aimed at stabilising business operations across Nigeria. Onyema who met with President Tinubu at the state house in Abuja on Thursday December 12th, said that the president has made great strides with the ease of doing business in the aviation industry, and with the new reforms introduced by the Minister of Aviation and Aerospace Development, Festus Keyamo, the Tinubu administration will stabilise the aviation industry. Onyema added that although…

First Bank corrects misleading information regarding fraud allegations

Jide Ige

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…

Consumer Protection Probe: Travel agents back FCCPC against Air Peace probe

Benjamin Chukwudaalu, Political Reporter

The National Association of Nigerian Travel Agents has thrown its weight behind the Federal Competition and Consumer Protection Commission’s investigation into exploitation allegations against Air Peace. The agents also appealed to the FCCPC to expand the scope of its fact-finding to other airlines in the country. This was made known through a statement signed by the association’s President, Yinka Folami, and made available to PUNCH Online on Tuesday. The association said it was committed to advocating fair practices within the downstream aviation sector, prioritising equitable market policies and the protection…

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

Jide Ige

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…

More national blackout looms as gas suppliers suspend service to GenCos over N2.7tn debt

Jide Ige

Wholesale gas-producing companies have abruptly stopped the supply of natural gas to power generation companies for electricity production over the non-payment of debts accrued from previous supplies, fresh findings by The PUNCH have shown. The Chief Executive Officer of the Association of Power Generation Companies, Dr Joy Ogaji, disclosed the latest development in an exclusive interview with The PUNCH on Wednesday, stressing that the gas-producing companies have formally notified all GenCos of the suspension of natural gas supply. The gas supply was abruptly halted after the Nigerian Midstream and Downstream…

Nigerians lament as naira scarcity worsens amid hardship

Jide Ige

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…

Safety concern heightens as Allied Air crash lands at Abuja Airport

Benjamin Chukwudaalu, Political Reporter

An Allied Air Cargo aircraft with registration number 5N-JRT suffered a tyre burst causing it to skid the Runway 22 at the Nnamdi Azikiwe International Airport in Abuja on Wednesday. As a result, the Federal Airport Authority of Nigeria has temporarily shut down the runway following the incident. The plane, arriving in Abuja, was involved in the incident upon landing while all passengers and crew members were safely evacuated. The incident was said to have caused significant disruptions, with several departures delayed as authorities work to clear the affected runway.…

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

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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

Jide Ige

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

Jide Ige

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…

Allegation of exploitation in ticket pricing untrue -Air Peace

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Air Peace on Friday explained the cost component of a flight ticket, saying a one-hour flight should have cost N700,000 going by the high cost of operation. Chief Operating Officer (COO) of the airline, Mrs. Oluwatoyin Olajide, also faulted the recent allegation of exploitation of passengers by the Federal Competition and Consumer Protection Commission (FCCPC). She said the report alleging that the airline was being investigated for exploitative fare was not based on any empirical fact even as she stated that the allegation caused the airline to lose a slot…

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…

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

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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

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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…

Exciting News: InfinityLive Gets a Fresh New Look!

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We’re thrilled to announce the revamp of InfinityLive! Our website has undergone a complete transformation to serve you better. Here’s what’s new: ✨ Sleek Design: Navigate with ease through our modern and user-friendly interface. 📚 Enhanced Content: Access richer, more engaging resources tailored to your needs. 🚀 Improved Performance: Enjoy faster load times and a seamless browsing experience. 📱 Mobile Optimization: Access all our features effortlessly, whether on your desktop, tablet, or phone. At InfinityLive, we’re committed to delivering value, innovation, and exceptional experiences. This revamp is a step forward…

Okonjo-Iweala gets another term at WTO

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World Trade Organization chief Ngozi Okonjo-Iweala was reappointed Friday for a second term, in the shadow of the coming return of Donald Trump and his disdain for international trade rules. Okonjo-Iweala, the first woman and the first African to head the WTO, was the only candidate in the race, and had been all but assured a second term. The organisation’s 166 members “today agreed to give incumbent Ngozi Okonjo-Iweala a second term as director-general,” the WTO said in a statement. The 70-year-old Nigerian’s reappointment was approved by consensus during a…

Access Bank acquires Standard Chartered Bank in Angola, Sierra Leone

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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

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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…

Eagle Online publisher, Dotun Oladipo leads Media Partners Cooperative Multipurpose Society

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Dotun Oladipo, the Publisher of The Eagle Online has emerged as the President of the Innovative Media Partners Cooperative Multipurpose Society. The former President of the Guild of Corporate Online Publishers was among others who are members of the pioneer Executive Committee. Other pioneer executive committee members of the IMPCMS are Nkanu Egbe, who is the General Secretary, and Dolapo Otegbayi as the Treasurer. Oladipo, Egbe and Otegbeyi were endorsed for the position at the inaugural meeting of the IMPCMS on October 25, 2024, which birthed a new era of…

Vijorm Oil boss, Victor Ojomo, jailed 30yrs for N47.6m fraud

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Victor Ojomo, the Chief Executive Officer of Vijorm Oil Nigeria Limited has convicted and sentenced to 30 years imprisonment by an Ikeja Special Offences Court for orchestrating a fraudulent scheme and defrauding a businessman of N47,645,000. Justice Rahman Oshodi delivered the judgment on Friday, convicting Ojomo on three counts: conspiracy to obtain money by false pretence, obtaining money by false pretence, and stealing. In his judgment, Justice Oshodi stated, “You orchestrated an elaborate scheme to defraud the victim of N47,645,000 and showed no remorse throughout the proceedings.” The judge highlighted…

3rd Time in One Week: Again national grid collapses

Benjamin Chukwudaalu, Political Reporter

Nigeria’s national grid has collapsed again. This is the third time this will happen in just one week. The latest collapse occurred early Saturday morning, with many states reporting total blackouts. Data obtained from the Nigerian System Operator’s portal (niggrid.org) and it revealed that the grid recorded zero megawatts (MW) as of 9.20am today. The cause of the collapse could not be ascertained at the moment as the Transmission Company of Nigeria could not be reached. Businesses and households continue to suffer over the nation’s unreliable electricity supply amid the…

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

Jide Ige

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

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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,…

National grid collapses twice in 24 hours

Jasmin Ekua, Banking & Finance

The national electricity grid has collapsed for the second time in 24 hours, leading to a nationwide blackout. Electricity distribution companies (DisCos) announced the grid collapse in separate statements on Tuesday, October 15, 2024. The companies disclosed that the grid collapsed at about 9:17 a.m. on Tuesday. The national grid had earlier collapsed at about 6 p.m. on Monday, October 14. “Please be informed that we experienced another system outage today 15/10/24 at 09:17hrs affecting supply within our network,” Ikeja Electric stated. The DisCo added that it is collaborating with…

Wigwe: Family reacts, says no issues

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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”…

Family feuds over Herbert Wigwe’s estate

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A contencious legal battle has erupted over the huge estate left behind by late Herbert Wigwe, multi-billionaire banker and former CEO of Access Holdings. Family members are at daggers drawn over the multi billion naira estate of the Access bank boss, who died alongside his wife, Doreen and son, Chizi on Friday, February 9, 2024, in a helicopter accident in the United States of America. According to a report by the Daily Independent, Herbert Wigwe’s parents have filed a caveat at the Probate Registry, seeking to challenge the distribution of…

FirstBank elevates online experience with a revamped e-channel

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Lagos, 5 October 2024: FirstBank has announced the full restoration of services on Firstmobile, its mobile banking platform, following a downtime earlier this week which occurred following a recent upgrade of the mobile banking application. Firstmobile is now up and running as the Bank remains committed to delivering seamless and innovative financial services to enhance the digital banking experience of our customers, irrespective of where they may be across the globe. However, customers who still experience challenges in accessing or using their Firstmobile app are encouraged to contact our dedicated…