Category: Business

Oyo gov’t sensitizes Okada riders, Keke operators on registration, security

Jide Ige

The Oyo State Government has organized a one-day sensitization meeting with the commercial tricycle and motorcycle operators in the state. Declaring open the sensitization exercise in Ibadan, the Commissioner for Information and Civic Orientation, Prince Dotun Oyelade harped on the need for a proper registration of motorcycles, tricycles. The meeting had in attendance leaders of motorcycle and tricycle riders across various zones of the state, including Park Management System, PMS, Motorcycle Transport Union of Nigeria, MTUN, Amalgamated Commercial Tricycle and Motorcycle Owners, Repairs and Riders Association of Nigeria, ACOMORAN among…

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Fidelity Bank announces Fidelity Family Weekend Fiesta

Jide Ige

In the spirit of the Yuletide, leading financial institution, Fidelity Bank Plc, has announced plans to host the maiden edition of the Fidelity Family Weekend. Scheduled to hold on Saturday, 16 and Sunday, 17 December 2023 at the Fidelity Grounds, Oniru, Victoria Island, Lagos, the event is designed to create a fun and relaxed atmosphere for children to play, parents to relax and young adults to unwind during the festive season. “The Yuletide season is all about coming together and spending quality time with loved ones especially as we wind…

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EFCC to Nigerians: This is how to avoid ATM swap

Wura Kelani, Crime Reporter

The Economic and Financial Crimes Commission (EFCC) has been inundated with barrage of complaints from well-meaning Nigerians concerning unauthorized withdrawals from their bank accounts, which investigations by the Commission have linked to Automated Teller Machine (ATM) Debit Card swapping fraud. The modus operandi of fraudsters involved in this nefarious practice involves keeping a debit card of the same bank, and in the guise of helping a confused bank customer at any ATM point, swaps the card in such a hurry that the customer would not notice and at the same…

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Revelations as ex-CBN boss, Emefiele goes on trial over N1.2bn procurement fraud

Jide Ige

The trial of former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele on Tuesday began in an FCT high court, with the EFCC calling three witnesses. The EFCC charged Emefiele with six counts bordering on alleged breach of procurement procedure in the award of the contract to April1616 Investment Limited. The anti-graft agency had in August, first charged Emefiele and one Mrs Sa’adatu Yaro and a company, April 1616 Investment Limited, purported to belong to Mrs Yaro, on alleged breach of the procurement Act in respect of the purchase of…

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Ex-NIRSAL boss, Aliyu arrested

Wura Kelani, Crime Reporter

Aliyu Abdulhameed, the former Managing Director of the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), Aliyu Abdulhameed, has been arrested has been arrested. His arrest is coming barely a year after he was sacked by the board of the CBN over soundry allegations of corruption and gross mismanagent. Daily Trust reports. NIRSAL, a $500m non-bank financial institution, is a creation of the Central Bank of Nigeria (CBN) mandated to manage agribusiness-related credit risks in Nigeria. Abdulhameed was kicked out of office following allegations of corruption, including a 2018…

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Zenith Bank signs MOU with France. Make entery into EU

Jide Ige

Zenith Bank Plc has signed a Memorandum of Understanding (MoU) with the French Government to establish a subsidiary of Zenith Bank Plc in France. The MoU, which was signed by the Founder and Chairman of Zenith Bank Plc, Jim Ovia, CFR, and the French Minister for Trade, Attractiveness and French Nationals Abroad, Mr. Olivier Becht on Friday, November 24, 2023, will enable Zenith Bank, through its wholly owned subsidiary, Zenith Bank (UK) Limited, to seek and secure the requisite regulatory approval from the Autorite’ de Controle Prudentiel et de Resolution…

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Flight Diversion: NCAA hammers United Nigeria Airline

Jide Ige

The Nigeria Civil Aviation Authority, NCAA, has suspended all foreign lease aircraft under United Nigeria Airlines hours after the airline operator diverted its Lagos-Abuja en route flight to Asaba on Sunday. Newsmen report that passengers expressed worry when a United Airlines aeroplane landed in Asaba International Airport on Sunday rather than the Nnamdi Azikiwe International Airport (NAIA). Consequently, a report emerged that all the wet lease aircraft under United Nigeria Airlines have been suspended. A former Director General of the Agency, Benedict Adeyileka, who spoke with DAILY POST exclusively on…

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FEC approves Tinubu’s N27.5tr budget

Jide Ige

The Federal Executive Council (FEC) has approved the 2024 appropriation bill of N27.50 trillion, with a N1.5 trillion increase from the earlier estimated bill. The government had proposed N26.2 trillion but reviewed the Medium Term Expenditure Framework (MTEF) after it was recently approved by the National Assembly. The Minister of Budget and National Planning, Atiku Bagudu, announced this on Monday at the end of the FEC meeting chaired by President Bola Tinubu in Abuja. He said that the new proposal was legitimate because the appropriation was dependent on the final…

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Tinubu names Akinyelure NNPCL chairman, retains Kyari as CEO

Jide Ige

The President, Asiwaju Bola Ahmed Tinubu has appointed Pius Akinyelure as the Non-Executive Board Chairman of the Nigerian National Petroleum Company Limited (NNPCL) and also retained Mele Kyari as the organisation’s Group Chief Executive Officer (GCEO). A Monday statement by Tinubu’s spokesman Ajuri Ngelale said the duo is part of the new board and management of the NNPCL. Their appointment, which is in compliance with Section 59 (2) of the Petroleum Industry Act, 2021, takes effect from December 1, 2023, he said. Apart from Kyari and Akinyelure, other members and…

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Death, tears and grief as FHA bulldozers move in on Abule Ado

Benjamin Chukwudaalu, Political Reporter

Sitting dispiritedly on a wooden bench in front of his house which has become mountainous ruins of twisted metals, disjointed slabs and destroyed pieces of furniture, Mr Peter Lawrence, momentarily stared at sweaty scavengers hauling metal items into their carts. The sadness in Lawrence’s eyes evinced grief. His house which was situated at King’s Royal Estate in the Abule Ado area of Lagos State, was demolished a few days ago, bringing his decades of toil and gain to an end within a day. For many homeowners in the Festac Phase…

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Mega crisis hits Coronation Merchant Bank over weak capital base

Jasmin Ekua, Banking & Finance

Stakeholders of Coronation Merchant Bank (CMB) are worried over the going concern of the financial institution as it struggles to stay afloat over its weakened capital position. This is even as the Long-Term Issuer Default Rating (IDR) of the bank has been downgraded by Fitch Ratings to ‘CC’ from ‘B-‘, with its Viability Rating (VR) also lowered to ‘cc’ from ‘b-‘. In a note released on Monday, the rating agency said it also demoted the bank’s National Long-Term Rating to ‘B+(nga)’ from ‘BBB-(nga)’, raising some red flags that prompted its…

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Tinubu pledges commitment to affordable 24hrs electricity

Benjamin Chukwudaalu, Political Reporter

Bayo Adelabu, the Minister of Power has revealed President Bola Ahmed Tinubu’s commitment to an affordable and stable electricity supply that will meet the expectations of Nigerians. Adelabu said President Bola Tinubu has put in place strategies to effectively address recurring challenges in the power sector. He said, “Arrangements have been concretised to explore a bottom-up, workable plan capable of giving Nigerians and the economic industry a regular and affordable supply of electricity.” The Minister spoke in Ibadan, Oyo State, at the first Annual Socio-Economic Summit organised by Jericho Business…

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FG boosts agric with 50% subsidy on inputs to curb food inflation

Jide Ige

The Federal Government has approved a 50 per cent reduction in the cost of agricultural inputs for farmers, aligning with the commencement of dry season farming scheduled for November 25, 2023. The FG disclosed this in a statement released by the Federal Ministry of Agriculture and Food Security sighted by The PUNCH on Friday. The statement disclosed that the Minister of Agriculture, Abubakar Kyari, will lead the launch ceremony in Jigawa state. It noted that the event will not only mark the commencement of dry season farming but also involve…

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Oyo Govt. lists criteria for disbursing N1bn loan to farmers

Jasmin Ekua, Banking & Finance

The Chairman, Oyo State Agricultural Credit Corporation of Oyo State, (ACCOS), Sheik Taofik Akeugbagold, has listed the criteria being used to disburse the One Billion Naira loan to farmers to ensure geographical spread. Akeugbagold made the revelation during a sensitization tour to the 7 geopolitical zones in the State which ended today. The muslim cleric also said to access the N1b single digit interest loan under the Sustainable Action for Economic Recovery (SAfER) sub-committee, an applicant must be a duly recognized farmer. Speaking further on the criteria for the disbursement…

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Osunkoya, Access Holdings chairman is dead

Jasmin Ekua, Banking & Finance

Access Holdings Plc, has announced the death of the chairman of its board of directors, Bababode Osunkoya. According to a statement filed with the Nigerian Exchange Limited on Thursday night, Osunkoya died after a brief illness on Tuesday. The statement signed by the company secretary, Sunday Ekwochi, said that “Consequent upon the tragic event, the company now has a nine-member board comprising of six non-executive directors (two of whom are independent) and three executive Directors inclusive of the group chief executive officer.” The company revealed that the board will announce…

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Zenith Bank’s Tech Fair 2023 props up nee tech talents with cash prizes

Jide Ige

The Third Edition of the Zenith Bank Tech Fair, themed “Future Forward 3.0”, which was held on November 23-24, 2023, at the Eko Convention Centre, Eko Hotels & Suites, Victoria Island, Lagos has concluded. From the over 500 contestants that participated in the Zenith Hackathon (Zecathon), Sync, a team collaboration and workflow management platform that provides synergy, enables project management, task planning, messaging, payments, scheduling and people operations, emerged as the overall winner, taking home the grand prize of N20 million. This is in addition to a mentorship programme with…

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Zenith Bank holds “Future Forward 3.0” in Lagos

Jide Ige

The Third Edition of the Zenith Tech Fair, tagged “Future Forward 3.0”, is set to be held on Wednesday, November 22 and Thursday, November 23, 2023, at the Eko Convention Centre, Eko Hotels & Suites, Victoria Island, Lagos, from 8.00 a.m. to 6.00 p.m. daily. The Two-Day fair will showcase leading technology innovations that cut across different aspects of life, such as Artificial Intelligence, Contactless Payments, Cybersecurity, Cloud Computing, FinTech, Data Analytics, Financial Intelligence, and communication technologies. The event will feature pitch sessions to identify innovative startups, panel discussions, masterclasses…

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Ogun State begins deployment of N1bn grant for small businesses, check guidelines on how to apply

Benjamin Chukwudaalu, Political Reporter

The Commissioner for Industry, Trade, and Investment and a member of the Ogun State COVID-19 Action Recovery and Economic Stimulus Steering Committee, Mr. Adebola Sofela, in a statement on Monday, announced that Governor Dapo Abiodun has directed the immediate commencement of the disbursement process for the second phase of the Ogun State’s N1bn grants for The Ogun State Government has commenced the second phase of the disbursement of the N1 billion grant to micro and small enterprises. It is the second phase of the initiative aimed at alleviating poverty and…

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350 debtors owe N3.9tr to outweight 11,650 others in AMCON’s

Jide Ige

The House of Representatives have asked the leadership of the Asset Management Corporation of Nigeria (AMCON) to release the list of its 350 top debtors at a Bankers’ Summit being planned by the legislators. AMCON data showed that 350 of its 12,000 total debtors owe 84 per cent of N4.7 trillion cumulative debts to the corporation. The chairman House of Representatives Committee on Banking and Other Ancillary Institutions, Hon. Eze Nwachukwu Eze, disclosed this at the first 10th House of Representatives Committee’s retreat with the management of AMCON held at…

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Tinubu mourns ‘pro June 12’ Army Chief

Jide Ige

President Bola Tinubu has extended his sympathies to the family of the late Chief of Army Staff, Major-General Mohammed Chris Alli, and the Nigerian Army, over his passing on. President Tinubu’s sympathies were contained in a statement by his Special Adviser on Media and Publicity, Chief Ajuri Ngelale, on Monday. The late Major-General Alli was the Chief of Army Staff from 1993 to 1994 when he retired from service. The late army chief’s stint as Nigeria’s Chief of Army Staff came to an abrupt end barely a year in office…

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FIRSTBANK REWARDS CUSTOMERS WITH 170,000,000 WORTH OF CASH PRIZES IN ITS WIN BIG PROMO

Jide Ige

FirstBank, Nigerias premier financial institution and leading financial inclusion services provider, has launched the Win Big promo to reward and delight its valued customers. The four-month promo, which started on 23 October 2023 and will run till 23 February 2023 will reward several new and existing customers of the Bank with a total cash reward of 170,000,000.00 naira. At the end of the four-month promo, 1,240 new and existing customers would have been rewarded with N100,000.00 each as each month will have 310 new and existing customers winning N100,000. Up…

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Ex-CBN Gov. Emefiele remanded in Kune prison

Wura Kelani, Crime Reporter

Justice Hamza Muazu of the High Court of the Federal Capital Territory, FCT, Abuja, has ordered that the former Governor of the Central Bank of Nigeria CBN, Godwin Emefiele, be remanded in Kuje prison pending the determination of his request for bail. Emefiele will remain in prison until November 22, when the court will deliver a ruling on his bail motion. His lead counsel, Mathew Burkaa SAN, moved the application for bail which Rotimi Oyedepo vehemently opposed on behalf of the Federal Government. After taking arguments for and against the…

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Breaking: SEC halts trading of Tingo Group shares to protect investors

Jide Ige

America’s Securities and Exchange Commission (SEC) has suspended trading activity for Tingo Group on the stock exchange. Tingo is a Nigeria-focused agriculture company that claims to provide a marketplace and payment services for farmers in the country. The self-described “agri-fintech” company is listed on the NASDAQ, which requires it to comply with US regulations and corporate governance standards. However, Tingo has been the subject of controversy following a June 2023 report by Hindenburg Research alleging its business in Nigeria is a fraud. Hindenburg Research is an American short-seller that bets…

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Senate confirms Maida as NCC EVC

Jide Ige

The Senate on Thursday confirmed the nomination of Dr. Aminu Maida as the Executive Vice-Chairman of the Nigerian Communications Commission. His confirmation followed the consideration and adoption of a report submitted to that effect by the Senate Committee on Communication, which screened the nominee on Wednesday this week. The committee chairman, Senator Aliyu Ikra Bilbis ( PDP Zamfara Central), while presenting the report during plenary, said Maida’s nomination was in accordance with section 8 (1) of the Nigerian Communications Commission (NCC) Act, 2003. He said that during the screening exercise…

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UBA gets Afreximbank’s $150m trade finance facility

Wura Kelani, Crime Reporter

United Bank for Africa (UBA) Plc, Africa’s Global Bank, has received a trade finance facility worth $150 million from the African Export-Import Bank The facility forms part of Afreximbank’s Ukraine Crisis Adjustment Trade Financing Programme for Africa (AKAFPA), and the signing ceremony for the trade finance was concluded, by both institutions, on the sidelines of the ongoing Intra-African Trade Fair, organised by Afreximbank in Cairo on Saturday. The terms of the agreement states that the facility will be utilised to finance trade and trade-related transactions in support of UBA’s Clients.…

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GTCO Fashion Weekend 2023: Celebrating style, innovation, and creativity

Yemi Thomas, Entertainment Editor

The highly anticipated GTCO Fashion Weekend is set to take centre stage this weekend, bringing together the world of fashion, style, and creativity in a show of unparalleled glamour. Organized by the renowned Guaranty Trust Holding Company Plc, the GTCO Fashion Weekend has become a hallmark event in both the local and global fashion calendar. This year’s edition promises to offer a valuable opportunity for hundreds of local fashion enterprises to tap into new markets, and position themselves for sustained growth. In addition, the 2023 GTCO Fashion Weekend will feature…

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Vaswani’s Stallion Group embattled as banks seize assets over N169bn debt

Jide Ige

Stallion Group, one of the leading conglomerate in Nigeria owned by the Vaseanis is presently embroiled in a debt crisis as two of Nigeria’s notable banks have moved in taking over the assets of the conglomerate for its inability to meet its obligations to the lenders in a debt profile of about N169,026,032,804.84 In a bid to recorver its N13bn debt, the Guaranty Trust Bank (GTB), took possession of the assets of Stallion Nigeria Limited in Lagos and its sister firms. Months after its face off with GTB, the United…

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Aero contractors crash lands at Abuja airport, runway closed

Wura Kelani, Crime Reporter

A Boeing 737 passenger jet belonging to Aerocontractors Airlines crash-lands at the Nnamdi Azikiwe International Airport, Abuja on Sunday morning. Although no injury or fatality was recorded, the Nigerian Safety Investigation Bureau, an agency of the Federal Government, confirmed that the aircraft got involved in a “serious accident” around 10.47 am upon arriving at the NAIA from Lagos. The Director, Public Affairs and Consumer Protection, NSIB, James Odaudu, confirmed this in a statement issued in Abuja on Sunday, adding that investigations into the accident. “The Nigerian Safety Investigation Bureau has…

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Hilda Baci removes world record title from Twitter

Jide Ige

Nigerian chef Hilda Bassey, commonly known as Hilda Baci, has removed the title of world record holder for the longest cooking marathon by an individual from her bio on X. This development comes hours after the Guinness World Record announced an Irish chef, Alan Fisher, as the latest world record holder for the title on Tuesday, November 7. In a post on X on Tuesday evening, Hilda Baci wrote, “Just as Chef Lata respectfully acknowledged the new record holder by updating her bio and later fine-tuning the wording, I’ve adjusted…

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Irish Chef breaks Hilda Baci’s GWR

Jide Ige

An Irish chef based in Japan, Alan Fisher, has broken two Guinness World Records for the longest cooking marathon by an individual. This was stated by the GWR on Tuesday via its website. Fisher cooked continuously for 119 hours 57 minutes, surpassing the previous record of 93 hours 11 minutes set by Nigerian chef Hilda Baci earlier this year. The Irishman also claimed the record for longest baking marathon, baking for 47 hours and 21 minutes, beating the prior record of 31 hours and 16 minutes. Remarkably, Fisher undertook both…

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CBN Gov, Cardoso hosts Sanusi, Awosika others, pledges price stability

Jasmin Ekua, Banking & Finance

The governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has reiterated that, under his leadership, the bank will focus mainly on the core mandate of price stability. He disclosed this, while playing host to the Impact Investing Community, led by the 14th Emir of Kano and Khalifa of the Tijaniyyah Sufi order of Nigeria and the neighbouring countries, Muhammadu Sanusi II, who is also a former governor of the CBN. Addressing the team in his office, Cardoso said, he and his team were determined to change the…

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Naira rebounds to N950 to $1 at parallel market

Jide Ige

The naira continued its rebound against the dollar on Friday, strengthening to N950/$ on the average in the parallel market. This represents a N170 gain or a 15.18 per cent appreciation of the local currency compared to the N1,120 it traded for on Thursday. This is also the second day of recovery for the naira following a move by the Central Bank of Nigeria to clear some of its FX backlog on Thursday. According to Bureaux De Change operators, who spoke to The PUNCH, the naira is still gaining as…

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Kagame declares Rwanda visa free for Africans

Benjamin Chukwudaalu, Political Reporter

The President of Rwanda, Paul Kagame, has declared that the country will grant visa-free travel to Africans to boost free movement of people and trade. This decision positions Rwanda as the latest African nation to adopt such a measure, joining others in the pursuit of a more integrated continent to rival Europe’s Schengen zone. The Schengen zone, consisting of 27 European countries, has successfully eliminated the need for passports and various border control measures at their shared borders. Local media reports that Kagame revealed his plans on Thursday during a…

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Zenith Bank sustains performance with tripple digit growth in Q3

Jide Ige

Zenith Bank Plc has announced its unaudited results for the third quarter ended 30 September 2023, recording a remarkable triple-digit growth of 114% from N620.6 billion reported in Q3 2022 to N1.33 trillion in Q3 2023. This performance demonstrates the Group’s resilience and strong market share despite a very challenging macroeconomic environment. According to the bank’s unaudited third quarter financial results presented to the Nigerian Exchange (NGX),the triple-digit growth in the topline also enhanced the bottom line, as the Group recorded a 149% Year on Year (YoY) increase in profit…

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Hinekken? Heniken? Chairman? Heineken® says it doesn’t matter

Jide Ige

For their 150th Anniversary, Heineken®, unveils the limited edition design for its bottle, rewrites Heineken as Chairman, the way the brand is being referred to locally. Heineken® is turning 150. The perfect time to talk about a brand’s heritage and honour their history, no? Instead, Heineken® is marking this milestone with a global campaign, and unveiled an exclusive limited edition bottle at the Heineken Lagos Fashion Week. The Managing Director and CEO of Nigerian Breweries, Hans Essaadi, had earlier announced at a media parley in Lagos, that the presence of…

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Spicing Up the Capital: Knorr Jollof Fest thrills Abuja

Jide Ige

The much-anticipated Abuja edition of the Knorr Jollof Fest which held on 28 October 2023, has left food enthusiasts and culinary aficionados buzzing with delight. The event, held at Harrow Park, Abuja, was graced with a diverse community of food lovers, chefs, and cultural enthusiasts with memorable moments of spirited competition and celebration of good Jollof. Hosted by celebrities Tobi Bakre and Kaylah Oniwo, the festival showcased the vibrant tapestry of Jollof rice, a beloved staple across West Africa. Attendees were treated to an array of mouthwatering and tasty Jollof…

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Why power sector privatisation failed -Tinubu

Benjamin Chukwudaalu, Political Reporter

President Bola Tinubu, on Monday, said Nigeria’s power sector privatisation had failed to meet its objectives, as the national grid was serving only about 15 per cent of the country’s electricity demand despite being privatised 10 years ago. Tinubu, who spoke during the Nigeria Electricity Supply Industry market participants and stakeholder roundtable that focused on privatisation, also called for the recapitalisation of power distribution companies. He said preliminary analysis showed that the Discos were currently under-capitalised to close to N2tn, adding that Nigeria’s power tariffs should be rebased. Represented by…

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City of Houston, Texas, USA proclaims October 25 as FITCC Day

Jasmin Ekua, Banking & Finance

In recognition of Fidelity Bank Plc’s commitment to fostering bilateral trade and economic development between the city of Houston, Texas and Nigeria, the City of Houston has designated October 25 as “Fidelity International Trade and Creative Connect Day”. Mayor Sylvester Turner of Houston officially declared the special day in a statement released from Houston, Texas, on Thursday, 26 October 2023. The proclamation reads in part, “Whereas, The Fidelity International Trade and Creative Connect summit committed to fostering bilateral trade and economic development between the city of Houston and Nigeria. The…

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Fidelity Bank wins Export Finance Bank of the Year award at 2023 BusinessDay BAFI Awards

Jide Ige

29 October 2023 – Lagos, Nigeria- Fidelity Bank Plc’s leadership in the exports space has once again been reaffirmed with the bank’s emergence as the Export Finance Bank of the Year at the BusinessDay and Other Financial Institutions’(BAFI) Awards 2023. The bank was presented the award at a prestigious dinner event held on Saturday, 28 October 2023 at Lagos Continental Hotel, Victoria Island, Lagos. “The BAFI Awards is the benchmark of distinction for institutions in the Nigerian financial services sector. Now in its 10th year, the awards recognises and celebrates…

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GTCO Plc releases Q3 2023 unaudited results

Wura Kelani, Crime Reporter

Guaranty Trust Holding Company Plc (“GTCO” or the “Group”) has released its Unaudited Consolidated and Separate Financial Statements for the period ended September 30, 2023, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE). The Group reported profit before tax of ₦433.2billion, representing an increase of 155.2% over ₦169.7billion recorded in the corresponding period ended September 2022. The Group’s loan book (net) grew by 17.7%from ₦1.89trillionrecorded as atDecember2022 to ₦2.22trillion in September 2023, while deposit liabilities increased by 37.9% from ₦4.61trillionin December 2022 to ₦6.36trillion in September 2023.…

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Fidelity Bank boosts Nigeria’s Non-oil Exports with FITCC Houston

Jide Ige

…Signs $40million deal with AFREXIM Bank and JohnVents Industries for cocoa export The much-anticipated second edition of the Fidelity International Trade and Creative Connect (FITCC) got off to a boisterous start on Tuesday, 24 October 2023 as leading financial institution -Fidelity Bank Plc -hosted a broad range of businesses, regulators, members of the diplomatic corps and other guests to the opening ceremony in Houston, Texas, United States of America. Tagged FITCC Houston, the two-days event is aimed at achieving several objectives including increasing the pipeline of Nigerian businesses that export…

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FirstBank celebrates week of kindness, partners NCF to plant 50,000 trees in three years

Jasmin Ekua, Banking & Finance

In furtherance of its leading role in promoting socio-economic development, Nigeria’s premier and leading financial inclusion services provider, has announced the commencement of its Annual Corporate Responsibility and Sustainability Week. For the past seven years, FirstBank colleagues and customers come together to participate in global annual volunteer (Start Performing Acts of Random Kindness) SPARK initiative, to give back to and foster positive change within the communities where they live and work. This has seen an impact of over 200,000 lives across eight countries, over 103 charities supported as well as…

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Access Holdings, Art X Collective to inspirw Afrca’s emerging talent with the Access Art X prize

Jasmin Ekua, Banking & Finance

Access Holdings, a trailblazing financial institution, and ART X Collective, a leading cultural enterprise, have announced commencement of the highly anticipated entry call for the Access ART X Prize 2023. The applications, which became open to the public on Wednesday, September 20, 2023 will run through Wednesday, October 18, 2023. Entries will be exclusively available for submission at ARTXLAGOS.COM/PRIZE. Through the 2023 edition, ART X Collective and Access Holdings will be empowering emerging artists by selecting two outstanding talents, each receiving a healthy $10,000 grant towards an exhibition at ART…

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Houston, Texas gears up for Fidelity Bank’s FITCC Trade Expo

Jasmin Ekua, Banking & Finance

All is now set for the Fidelity International Trade and Creative Connect (FITCC) billed for Houston, Texas in the United States of America. Labeled as FITCC Houston, the second edition of the international expo will take place from the 24th to 25th of October, 2023 at the plush George R. Brown Convention Center, 1001 Avenida de las Americas. Following the successful maiden edition that held last November in London with over $200million worth of deals closed, the bank is set for another edition of the globally rated expo. This year’s…

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CBN lifts forex ban on rice, cement, 41 other items

Jasmin Ekua, Banking & Finance

The Central Bank of Nigeria (CBN) has lifted the ban placed on all 43 items previously restricted from purchasing Foreign Exchange to boost liquidity in the FX market. This was made known in a statement issued by the apex bank’s Director, Corporate Communications, Dr Isa AbdulMumin, on Thursday, October 12, 2023. The CBN had in October 2021 restricted access to Forex from FX market for the following 43 items: Rice, cement, Margarine, Palm kernel, palm oil products and vegetable oils, Meat and processed meat products and Vegetables and processed vegetable…

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Tinubu replaces NCC, NIPOST, NIGCOMSAT’s bosses, reappoints NITDA, NTPC bosses

Jide Ige

President Bola Tinubu on Wednesday sacked the Chief Executive Officers of three agencies under the Federal Ministry of Communications, Innovations, and Digital Economy with immediate effect. The affected CEOs include the Nigerian Communications Commission’s Prof. Umar Garba Danbatta; the Nigerian Postal Service’s Sunday Adepoju; and Nigerian Communications Satellite Limited’s Tukur Funtua. The President made this known through a statement by his Special Adviser on Media and Publicity, Ajuri Ngelale, titled, ‘President Tinubu appoints new leadership across the communications, innovation, and digital economy sectors.’ He listed the new CEOs as Aminu…

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Chris Ogunbanjo: Facts to know and remember

Benjamin Chukwudaalu, Political Reporter

Elder statesman and foremost corporate lawyer, Dr Christopher Ogunbanjo, passed away on Saturday, October 7, 2023. The patriarch died at the age of 99, two months before his 100th birthday. Announcing his passing via a statement, his family said, “Papa was an unwavering beacon of reassurance, courage and moral integrity for the entire family, truly embodying dedication and service to his country.” While President Bola Tinubu and other eminent Nigerians continue to mourn his passing, below are 10 things to know about the late philanthropist: Christopher Oladipo Ogunbajo was a…

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See full list as FG licences more DisCos for electricity distribution

Jide Ige

Nigeria’s Federal Government announced that it had issued licences to 17 Independent Electricity Distribution Network operators, among which 11 are currently operational. The Federal Government in its 2022 Market Competition Report released on Tuesday by the Nigeria Electricity Regulatory Commission, an agency of the Federal Government. The report reads in part, “The commission has also licensed 17 Independent Electricity Distribution Network operators of which 11 are operational.” The 11 operators include: 1. Gateway Electricity Limited 2. Energy Company of Nigeria Plc 3. PIPP LVI Disco Limited 4. Bodituv Nigeria Limited…

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FirstBank promotes Africa’s FDI, sponsors Int’l Trade Exhibition in New York

Jide Ige

First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider, sponsored the Africa International Trade Exhibition (A.I.T.E 2023), held on 21 and 22 September 2023 at the Hilton Hotel Midtown, New York, U.S.A. The event was themed “the imperatives of global trade for African SMEs as a game changer for the continent’s future prosperity”. Woven into the fabric of society, with the rich heritage of being the premier Bank in West Africa, FirstBank’s sponsorship of the event reiterated its commitment to being the bank of first choice…

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