New day in South Africa as Access takes over Grobank

Following the completion of all regulatory procedures, Grobank Limited has been officially renamed Access Bank South Africa Limited. The deal was finalised after Access Bank’s acquisition of controlling shares in the former Grobank Limited, South Africa. With this new development, Access Bank South Africa Limited is positioned to deliver a robust banking operation that connects key African markets. At an official closing ceremony in Sandton on Monday, top executives of the two banks were upbeat about new opportunities for clients, noting that the Bank will continue to support all its…

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How Dangote Cement is boosting Senegal’s Economy -Envoy

Dangote Cement Plc’s huge investment has been described as one of the major contributors to the development of the Senegalese economy. Besides, the Cement plant located in Pout, 60 kilometres away from Dakar, has greatly assisted in strengthening the business relationship between Senegal and Nigeria.  Dangote Cement Senegal currently holds a capacity of 1.5 million tonnes per year, producing higher quality cement to meet the country’s demand as well exporting to neighbouring countries around Senegal.  Charge D’Affaires, Embassy of Nigeria, Senegal, Mr.  A.K Zanna, who spoke on the contributions of Dangote…

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Heritage Bank’s YNSPYRE, CREAM Platform April draw produce millionaires

Heritage Bank has continually fulfilled its promises to support the Nigerian Creative Industry, as millionaires emerged from the YNSPYRE product in collaboration with the CREAM Platform. The YNSPYRE account holders who subscribed to the platform by dialing *745*463# on all networks won over N12million during the second monthly raffle draw conducted in April at the weekend. The Heritage Bank’s YNSPYRE event commenced on a great note when D’banj and CREAM Platform introduced the CREAM Merit winners for March, BERRI, a music artiste who carted away sum of N10million in form…

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Firstmonie: How FirstBank is impacting hundreds of thousands of lives, communities all over Nigeria

If you live in Lagos, Abuja or Port Harcourt, or you reside in any of the other state capitals, you probably take for granted that you actually live in the better of the two worlds that make up Nigeria when it comes to banking. Take Lagos, for example, you would find a bank in almost any corner you turn. You have many streets in business or commercial areas in the city that are lined up by nothing but banks in all their glory and magnificence. If a count is taken,…

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Fidelity Bank to pay 22k dividend per share

The shareholders of Fidelity Bank Plc have unanimously endorsed the payment of a cash dividend of 22 kobo per share to all Shareholders whose names appear in the Register of Members at the close of business on April 16, 2021. This translates to a dividend yield of 9.2%, making it the 4th most rewarding Bank to investors in the Nigerian Capital Market. This announcement was made at the 33rd Annual General Meeting (AGM) held in Lagos on April 30, 2021. Shareholders who spoke at the event praised the Board of…

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‘We’ve been very professional in our relationship with FirstBank’ -Honeywell Group

Lagos, Nigeria, May 02, 2021: Honeywell Group has said it is servicing loan facilities obtained from First Bank of Nigeria Limited and other financial institutions to carry out its operations. The company, in a statement released in Lagos, said like most companies, it utilises its own equity and borrows from banks and other financial institutions to carry out its operations. It added that it has a strong track record of mutually beneficial successes with its local and international financiers based on honouring obligations and delivering returns to all stakeholders. The statement said…

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‘My stewardship at FirstBank’ -Awosika

Former Chairman, Board of Directors of First Bank of Nigeria Limited, Ibukun Awosika, said she had great plans and aspiration for the bank before her sacking on Thursday by the Central Bank of Nigeria. She also said First Bank was able to deliver value to customers and stakeholders under her leadership. Awosika made this known in a statement on Friday posted on her Instagram handle titled, ‘My FBN Group Journey’. Reacting in a statement on Friday night, Awosika chronicled her journey with the board of First Bank which she said…

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Our story, by FirstBank

We refer to the Central Bank of Nigeria Limited (CBN) pronouncement on the reconstitution of the Board of Directors of First Bank of Nigeria Limited. Further to the press conference held by the Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele CON on Thursday, 29 April 2021, the Boards of FBN Holdings Plc and First Bank of Nigeria Limited were dissolved and reconstituted, pursuant to its power under Banks and Other Financial Institutions Act (BOFIA) 2020. The Board of Directors of First Bank of Nigeria Limited is now…

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Banking made simple, by Raheem Adegbolu

Raheem Akingbolu reviews the new FirstBank’s corporate website and reckons that it would go a long way in strengthening the ability of the bank’s patrons and other potential customers in addressing basic banking operations. Outside the physical identity of any brand, the most accessible door into operations of a company in today’s market is perhaps the website. With digital technology taking the lead in today’s business environment, website has swiftly become the virtual meeting point for sellers and buyers. As a result of the fact that website can make or…

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FirstBank names Shobo MD designate as Adeduntan completes tenure

The Board of First Ban, on Wednesday, approved the appointment of Mr Gbenga Shobo, currently Deputy Managing Director, as Managing Director designate of the bank. Shobo succeeds Sola Adeduntan, who will be leaving the bank in accordance with the bank’s term limit for its Chief Executives, after successfully leading the bank since January 2016. Also appointed is Abdullahi lbrahim as Deputy Managing Director, while Mr. Ini Ebong, Mr. Segun Alebiosu, Mr. Seyi Oyefeso and Mrs Bashirat Odunewu are also appointed as Executive Directors. According to the bank, the decision is…

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Fidelity Bank announces N10.1bn PBT for Q1 2021

Top Nigerian lender, Fidelity Bank Plc recorded a strong financial performance in the first quarter of 2021, posting appreciable growth in profits for the period ended 31 March 2021. Details of the unaudited results, released at the Nigerian Stock Exchange (NSE) show that Profit before Tax (PBT) grew by 53.9% from N6.6bn in 2020 to N10.1bn for the corresponding period of March 31, 2021.  Similarly, Net revenue in the period increased by 13.4% from N30.3bn in Q1 2020 to N34.4bn in 2021, just as the bank recorded growth in other…

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More pains coming as FG plans tariff increase for July

The Nigerian Electricity Regulatory Commission on Monday announced that another tariff review for Nigeria’s 11 power distribution companies would hold in July. The move is coming as electricity consumers, who are mostly on estimated bills, groan under massive rip-off by DISCOs who have largely refuse to make pre-paid meters available to customers. NERC disclosed this in its notice of Minor and Extraordinary Review of Tariffs for Electricity Transmission and Distribution Companies, a development that might lead to a rise in the tariffs payable by electricity users. The commission explained that…

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Reps shoot DSTV, makes pay-per-view compulsory, break monopoly

Hon. Uyime Idem, Deputy Chairman of the House of Representatives’ Committee on Communication, has revealed that he and two other lawmakers had sponsored a bill that has passed second reading on the floor of the house to grant powers to the National Broadcasting Commission to regulate tariffs imposed on subscribers by service providers. Hon. Idem said on Thursday, in Abuja, while briefing newsmen that Nigerians will soon be enjoying pay-per-view bouquets. Idem, who is representing Ukanafun/Orukanam Federal Constituency in Akwa Ibom State, is chairman of the ad hoc committee set…

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Heritage Bank boosts creative industry with support for “Rita Dominic Acting Challenge”

Heritage Bank Plc has further reiterated its commitment to the growth and development of the creative and entertainment sector by supporting the “Rita Dominic Acting Challenge.” Heritage Bank in collaboration with a foremost Nigerian Actress and Co-Founder of the Audrey Silva Company, Rita Dominic launched an acting challenge for aspiring actors to recreate a scene in a new film “La Femme Anjola,” produced by the later. Respectively, the winners carted away cash prizes- ; the Prize winner, Jasmine Howson-Wright received N1million, Chioma Okafor, 1st runner-up got N300, 000, whilst the 2nd runner-up…

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GTBank makes ₦53.7bn PBT in 2021 first quarter

Guaranty Trust Bank plc has released its unaudited Financial Results for the period ended March 31, 2021 to the Nigerian and London Stock Exchanges. A review of the result shows a resilient performance across all key financial metrics in the face of the unprecedented macroeconomic challenges, reflecting the quality of past decisions and reaffirming its position as one of the best managed financial institutions in Africa. The Group reported Profit before tax of ₦53.7billion, representing a drop of 7.8% over ₦58.2billion recorded in the corresponding period of March 2020. Deposit…

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Petrol lands at N216/ltr as daily subsidy hits N4.6bn

With the continuous increase in global oil prices and further depreciation of the naira against the dollar, the landing cost of Premium Motor Spirit (petrol) imported into Nigeria has jumped to N216.31 per litre. The Petroleum Products Pricing Regulatory Agency had in March released a pricing template that indicated the guiding prices for the month. The template, which showed that petrol pump price was expected to range from N209.61 to N212.61 per litre, was greeted with widespread public outcry and was later deleted by the agency from its website. The…

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Access Bank acquires Botswana’s 5th largest bank

Access Bank said on Monday it has agreed to buy a majority stake in African Banking Corporation of Botswana for cash, a month after it acquired a South African bank. Access Bank is expanding across Africa to counter stagflation at home and dollar shortages that have frustrated businesses. The lender will acquire just over 78 per cent of BancABC Botswana for cash of around 1.13 times book value and a two-year deferred payment, amounting to an undisclosed sum, Atlas Mara said in a statement. The latest acquisition from ABC Holdings,…

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FirstBank reiterates commitment to excellent service delivery with new corporate website

FirstBank, Nigeria and indeed West Africa’s premier financial inclusion services provider has announced the launch of its newly designed website at https://www.firstbanknigeria.com/.  The new website is upgraded with features that are streamlined to reinforce its role in delivering seamless banking and technology solutions to its customers across the world. The website is configured with modern design and improved functionality that eases customer experience whilst carrying out various activities on the site, including electronic banking. Non-customers are also able to open an account, putting them at an edge in the industry as…

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Uber, Bolt drivers go on strike tomorrow

Uber and Bolt drivers in Lagos have asked the e-hailing companies to immediately increase fares being charged by the operators, failing which they would go off the road from Monday. The e-cab operators, under the aegis of Professional E-hailing Drivers and Private Owners Association (PEDPA), threatened to embark on the strike if their demands were not met. At a news conference in Lagos, the National President of PEDPA Idris Shonuga called for immediate upward review of e-cab fares to reflect the current economic reality in the country. According to Mr…

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FirstBank hosts protection webinar on business security in information age

 First Bank of Nigeria Limited, Nigeria’s leading financial inclusion services provider has announced a webinar to sensitise individuals and businesses with useful information on being protected in today’s digital age.  The virtual event is scheduled to hold by noon on Friday, 16 April 2021 with “Staying Protected Amidst the Pandemic Chaos” being the topic to be discussed at the event. Registration is ongoing for the event via the link https://firstbanknigeria.zoom.us/webinar/register/WN_PUnqA7enTMG8o0OfOaWxlg  Today’s world, largely referred to as the digital age has been influenced by information technology which has optimised the way we carry out our individual and business…

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Ecobank names Dada as ED Corporate Banking

Ecobank Transnational Incorporated, parent company of the Ecobank Group, has announced the appointment of Akin Dada as the new Executive Director of Corporate and Investment Banking. Previously Head of Ecobank Group’s Corporate Banking, Dada joined Ecobank in 2017 as the Executive Director of Corporate Banking in Nigeria, according to a statement from Ecobank on Tuesday. The bank said Dada had over 30 years of banking experience in client coverage, strategic transaction initiation and advisory dialogues across various client segments, including public sector, telecoms, FMCG and oil and gas. Prior to…

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CBN begins N50bn COVID-19 credit facility

The Central Bank of Nigeria has said that households and businesses affected by the COVID-19 can now apply for loans under its N50bn Targeted Credit Facility. It said the stimulus package was to support households and Micro, Small and Medium Enterprises affected by the COVID-19 pandemic, adding that beneficiaries could access up to N25m. This was disclosed in a tweet on Monday by the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending Microfinance Bank. The NIRSAL microfinance bank stated that interested households and businesses could apply via link posted in…

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Cement: Dangote denies increment says factory price is N2,450

The management of Dangote Industries has denied reports that it has increased cement price to over N4,000, insisting that the ex-factory price of cement at their factories in Obajana, Kogi State, and Gboko, Benue State, is N2,450. According to its Group Executive Director, Strategy, Capital Projects and Portfolio Development, Edwin Devakumar, who also denied reports that Dangote cement is sold at a lower rate in Zambia and Ghana, the retail price of cement in Nigeria is controlled by the hike in transportation cost. Ex-factory price means the selling price of…

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CIBN Registrar counsels Ecobank trainees

The Registrar/Chief Executive, Chartered Institute of Bankers of Nigeria (CIBN), ‘Seye Awojobi has called on graduands of Ecobank Nigeria Academy to make their word their bond to excel in the banking profession. The CIBN Registrar who gave this charge at the virtual graduation of the Ecobank Management Development Programme (EMDP) Batch 3 trainees in Lagos, emphasized integrity, honesty, trust as principal values to excel in their chosen career. He enjoined them to imbibe the ethics of the profession. The EMDP batch 3 comprises 16 graduates who were trained at the…

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Economy in a mess, FG printed N60bn for disbursement in March -Obaseki

Edo state governor, Godwin Obaseki said the federal government printed N60 billion to be able to meet up federal allocation for March 2021. Speaking at the Edo state transition committee stakeholders engagement on Thursday, the governor said the economy is no longer what it used to be. According to the National Bureau of Statistics (NBS), Nigeria’s total public debt stock as of the third quarter of 2020 (Q3 2020) rose by N6.01 trillion within a year. The agency’s report noted that Nigeria’s total public debt stock constituting of external and…

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Shoprite CEO announces Nigeria’s exit date

Retail shop company, Shoprite Holdings Limited, has announced its exit date from Nigeria the outfit is about to conclude the sale of its Nigerian outlets. The company said it would shut down operations in the country by disposing a 100 per cent equity stake in its Nigerian retail supermarkets. In its latest financial report for December 2020 operations obtained from the company’s website on Tuesday, Shoprite stated that the company was awaiting approval from the Federal Competition and Consumer Protection Commission after lodging the transaction with the commission. According to…

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Access Bank posts ₦764.7bn gross earning for 2020

Despite a challenging economic and regulatory landscape, Access Bank PLC has announced gross earnings of ₦764.7bn for the financial year ended December 31, 2020. The Bank’s audited gross earnings shows a 15% improvement from the ₦666.75bn posted for the comparative period of 2019. While the Bank’s Profit Before Tax stood at ₦125.9bn, it also posted a non-interest income of ₦275.5bn, a significant 112% y/y growth from 2019. This is despite the cost of operating its enlarged franchise. According to Herbert Wigwe, the Group Managing Director and CEO of Access Bank…

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Drum Majors for Peace celebrates as Morola Babalola, Abitoye sign up as members of African Union ECOSOCC Cluster Committee

The 30th day of March 2021 is a day to remember as the CEO of Townsend Property Investment, Lady Mrs. Morola Babalola and the founder of Digital Space Capital, Mrs. Olubukola Abitoye respectively signed up as members of the African Union ECOSOCC Cluster Committee. These additions became very necessary on the backdrop of their exploits in their respective fields of engagement. Also, in other, for them to advance their wealth of experience in fostering peaceful coexistence among patriots and member states. We at DRUM MAJORS FOR PEACE celebrates and identify…

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Access Bank’s quest for “Africa’s Gateway to the World” gets a boost with S/A acquisition

Nigeria’s largest bank, Access Bank has paid about $60 million to purchase a controlling interest in South Africa’s 74-year-old Grobank. The acquisition is the culmination of Access Bank’s aspiration to foray into Africa’s most industrialised nation and tap its market. The move makes it Nigeria’s first bank to do so, with Access Bank ploughing in both equity and debt in Grobank as part of the grand plan to explore trade banking deals on its way to becoming “Africa’s Gateway to the World”, Managing Director Herbert Wigwe told CNBC Africa. It will…

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AstraZeneca changes COVID-19 vaccine name

The British-Swedish pharmaceutical AstraZeneca announced that the COVID-19 vaccine, in conjunction with the British University of Oxford, has been renamed Vaxzevria. As reported in The Brussels Times, the name change was approved on March 25 following a request from the company and was announced on the website of the European Medicines Agency (EMA) and that of the Swedish National Medicines Agency (Läkemedelsverket).https://dc5836a5ecab1ca6840ba2e67a856cdd.safeframe.googlesyndication.com/safeframe/1-0-38/html/container.html?n=0 The new name does not imply a change in the formula of the vaccine, according to the Läkemedelsverket, but there will be a new labeling and packaging of the drug. For its part,…

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Dangote empowers 16,000 rural women in all Kwara LG

Aliko Dangote Foundation (ADF), on Wednesday, empowered a total of 16,000 women in all the 16 local governments area of Kwara State. Each of the 16 thousand rural women were given the sum of N10,000 each, to help boost their petty trade and also start new businesses. In all, a total of N160,000 million were given to the rural women in a funfair event, held in Moro Local Government area of Kwara State. Deputy Governor of the state, who stood in for the Governor, Abdulraham Abdulrasaq, lauded the  ADF empowerment…

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FirstBank to hold FirstGem 4.0, reinforces leadership in women empowerment

First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider has announced the fourth edition of its annual FirstGem Conference, tagged FirstGem 4.0. The 2021 event is themed ‘The Art of Negotiation’ and convened to provide women with insights on the secrets of wealth management, investment and savings. It is scheduled to hold on Wednesday, 31 March 2021. Participants are required to register via the link http://bit.ly/firstbankwebinar The product, FirstGem, is an account designed specifically to meet the needs of women, aged 18 years and above. The product…

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Winners emerge in Heritage Bank’s ‘YNSPYRE’, Cream Platform Promo

Winners have emerged at the Heritage Bank Plc, ‘YNSPYRE’ Cream Platform Promo held in Abuja. CREAM Platform, Nigeria’s premiere creative reward platform officially kicked off its partnership with Heritage Bank’s YNSPYRE Initiative with the commencement of the CREAM Monthly draws on Friday – March 26th 2021, rewarding subscribers who dialed the *745*463# code, with lots of cash and other prizes. The CREAM YNSPYRE Draw proper started off on a great note with random picking of numbers electronically and with some never-to-be-forgotten moments producing 5 winners who went home with the…

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ECSCorp announces $2m prize for ‘The Incubator Reality Show’ Winners

ECSCorp, – a global solution company that uses agileapproach to solving the most complex business problems is set to create ‘TheIncubator Reality Show’ to address the most critical challenges startupsencounter in the country with a $2M startup fund for winners. The reality show according to the Initiator and LeadConsultant, Tayo Richards will  leverage partnershipswith platforms and corporate organisations to help young entrepreneurs thatparticipate in the program gain business knowledge and information that willposition them for greater opportunities. Meanwhile, the organisers have opined that startups havebeen said to have the power…

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Dangote Cement to pay over N97 bn in corporate tax for 2020

Africa’s largest cement producer, Dangote Cement Plc has remained a major contributor to the economy with a tax charge of N97 billion for the financial year ended 31st December 2020, even as it proposed a dividend of N16 per share. According to the cement group’s audited results released on the floor of the Nigerian Stock Exchange (NSE), the tax charge represents an increase of 95 per cent over the sum of N50 billion recorded in 2019.  Dangote Cement’s Nigerian operations during the period sold 15.9Mt for the full year 2020, compared…

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GTBank to acquire bank in Kenya

Guaranty Trust Bank Plc, Nigeria’s biggest lender by market value, plans to acquire a Kenyan lender as part of its expansion on the continent, according to the managing director. “I think the place we will still like to do business or do an acquisition is Kenya,” Segun Agbaje, the lender’s chief executive said at an investor call in Lagos, without giving a time-line for the acquisition. The Lagos-based lender already has offices in 10 countries outside Nigeria including Kenya. It wants to increase the contribution of African subsidiaries to the…

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Union Bank declares 25 kobo dividend for 2020 on strong business fundamentals despite impact of Covid-19

Union Bank has released its audited financial statements for the year ended 31st December 2020. The bank’s results for the period show sustained growth in key income lines and significantly improved fundamentals, notwithstanding a constrained operating environment largely due to the impact of the Covid-19 pandemic. Union Bank’s investments in technology and building a progressive work culture over the past eight years, enabled a swift response to the pandemic that allowed our workforce transition to remote working while maintaining the productivity required to deliver these strong set of results in…

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Sanwo-Olu lauds ‘impactful’ Dangote, say Lagos will complement efforts with road networks

Lagos State governor, Babajide Sanwo-Olu, has commended the Dangote Group for situating the biggest investment in the country in Lagos State, and for the positive development which the Dangote Oil Refinery and Dangote Fertiliser Complex would bring to Lagos and the Nigerian economy. President of the Dangote Group, Aliko Dangote, on his part thanked the governor for his support and for making Lagos a haven for investors, and said the Dangote Group would do its best to make the Epe axis a hub of industrialisation through job creation and other…

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Access Bank promises 5 times refund for delayed reversals

Driven by its commitment to deliver best-in-class service to all its customers, Africa’s largest retail bank, Access Bank PLC, has upgraded its service platforms to allow for resolution of failed transactions within one business day. The Bank has guaranteed that all failed transactions will be reversed within one business day. It has also affirmed that in the event that reversal time exceeds one business day, customers will be entitled to a refund of up to five times the bank transfer fees for that transaction. Speaking on this development, Ogor Chukudebelu, Access…

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FirstBank’s Adeduntan lists post COVID-19 growth factors

…Thumbs up mobile banking (FirstMobile) and USSD (*894#) platforms By Bolaji Israel Dr Adesola Adeduntan, Chief Executive Officer, First Bank of Nigeria Limited said technology, innovation and enhanced capabilities have become necessary to achieve significant business growth in the post-COVID-19. Adeduntan made this remark on Thursday during a Digital Disruption Series webinar organised by the Surrey Business School of the University of Surrey, England. The webinar was themed: “Digital Disruption: How Can Companies Thrive in Africa Post-COVID-19.” According to the FirstBank boss, it is about studying the environment and leveraging…

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Bigi-cola maker sues Coca-cola bottler for alleged trademark infringement

The Nigeria Bottling Company (NBC), bottlers of global brand, Coca-cola, has been dragged to court for alleged trademark infringement on its energy drink, Predator, with a mark similar to the well-liked market leader, Fearless, a product of Rite Foods Limited, makers of Bigi cola. As contained in the ThisDay and Guardian newspapers editions of Friday, 19th of March, 2021,contempt proceedings have been commenced against the managing director of NBC by Rite Foods Limited at Federal High Court, in lkoyi, Lagos. In the suit No: FHC/L/CS/92/2021, the plaintiff, Rite Food Limited, filed…

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GTBank releases 2020 full year audited results, reports PBT of ₦238.1 bn

Guaranty Trust Bank plc has released its Audited Financial Results for the year ended December 31, 2020 to the Nigerian and London Stock Exchanges.A review of the result shows improved performance across all key financial metrics in the face of the unprecedented challenges brought on by the COVID-19 pandemic, reflecting the quality of past decisions and reaffirming its position as one of the best managed financial institutions in Africa. The Group reported Profit before tax of ₦238.1billion, representing a growth of 2.8% over ₦231.7billion recorded in the corresponding year ended December…

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FirstBank promotes cross border payments with First Global Transfer

First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider, has announced the launch of First Global Transfer (FGT) to promote international transfer of funds across its subsidiaries in sub-Saharan Africa. The Bank’s subsidiaries in Africa include FBNBank DRC, FBNBank Ghana, FBNBank Gambia, FBNBank Guinea, FBNBank Sierra-Leone, FBNBank Senegal. The First Global Transfer (FGT) initiative is specifically designed to ensure safe, timely and improved efficiency in the transfer of funds across the network of FirstBank subsidiaries in Africa. The FGT is not restricted to FirstBank and FBNBank Customers…

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Sterling Bank gets special recognition for supporting tourism

Sterling Bank Plc has been honoured with the Special Recognition Award for Tourism Support at the 2021 edition of the Nigeria Tourism Awards, also known as The Balearica Awards. The Nigeria Tourism Awards recognise and celebrate exemplary and outstanding individuals and organisations in the country’s tourism sector.  Presenting the award to the Bank, Efetobo Awhana, CEO of the Balearica Awards, acknowledges Sterling Bank’s deliberate intervention in the tourism industry in 2020. He said that the Bank’s announcement of a dedicated fund for the tourism sector was timely and similar to…

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Fuel Price Crisis: Ngige issues ‘open-ended’ statement, not foreclosing increment

Labour and Employment Minister, Dr. Chris Ngige is saying the Federal Government has assured Nigerians that there is currently no increase in the price of Premium Motor Spirit. A statement on Friday by the Minister of Labour and Employment, Senator Chris Ngige, said “there will be no increase in the price of PMS for now as discussions are still ongoing between government and the organised labour as well as other stakeholders on the matter.” Going by the statement, the government is at the same time not foreclosing an increment. Ngige…

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Fidelity Bank Supports CBN’s New FX Policy, Targets Improved Diaspora Remittance

Fidelity Bank Plc, a leading Nigerian bank has restated its readiness to continually support the Central Bank of Nigeria’s (CBN) efforts to engender sustainable economic development by significantly improving diaspora remittances and foreign exchange (FX) inflows into the country.   Fidelity Bank CEO, Mrs. Nneka Onyeali-Ikpe who made this known on Saturday at the inaugural edition of the Fidelity Diaspora Webinar Series in Lagos stated that the bank would leverage its robust digital infrastructure, bespoke product offerings and extensive partnership with International Money Transfer Operators (IMTOs) to strengthen remittances inflows.   While applauding…

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Stanbic IBTC, named in ex-Custom boss, Dikko’s fraud and concealment case

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has told a Federal High Court, Abuja how a private lawyer, Mr. Umar Hussaini received the sum of N1.1 billion from Cambial Ltd, an estate development firm over the sale of 120 units of houses for officers of the Nigeria Customs Service. Hussaini is facing a 2-count charge of obtaining by false pretence contrary to and punishable under the Advance Fee Fraud and Other Related Offences Act 2006 before Hon Justice Ijeoma Ojukwu, of the Federal High Court, Abuja. While…

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3 jailed for attempting to dupe Dangote $32k

A Lagos State High Court presided over by Justice S. S. Ogunsanya, on Tuesday, sentenced a former General Manager of the Dangote Industries Limited, Mojisola Aladejobi and two others Raymond Akanolu and Balogun Alaba, to seven years’ imprisonment over a $32,000 insurance fraud. The convicts were arraigned by the Economic and Financial Crimes Commission on two counts of conspiracy and attempt to obtain money by false pretences to the tune of $32,000. It was gathered that the convicts had sometime in October 2014 conspired among themselves to defraud Dangote Industries…

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COVID-19: CACOVID donates Incinerator, 260 Oxygen cylinder to LASG

The private sector Coalition Against COVID-19 (CACOVID), on Tuesday, fulfilled its pledge to the Lagos State Government by donating 260 medical oxygen gas cylinder and newly purchased Incinerator to Yaba Isolation centre in Lagos. Speaking to media at the commissioning of the Incinerator and presentation of gas cylinder to Lagos State government, Managing Director and CEO of Aliko Dangote Foundation, who doubles as an administrator of CACOVID, Zouera Youssoufou said, though a total number of 260 gas cylinder of different sizes were donated to the Lagos State government including incinerator,…

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