World Bank programme boosts agribusiness
The Lagos State Commercial Agriculture Development Project (CADP) is helping to achieve the World Bank’s twin goals of ending poverty and boosting prosperity by creating new agric entrepreneurs..
World Bank, PwC experts welcome record reduction in burden of paying taxes
Experts have welcomed the impact of the use of technology, by business and government, in tax compliance which is seen driving continued simplification and reduction in the burden of tax compliance on businesses.
World Bank, IDB, FG fund N48.7 billion Osun water project
A 60,000 cubic metre capacity water supply cum sanitation project was on Monday inaugurated in Ilesa, Osun State, with the support of the World Bank, Islamic Development Bank and the Federal Government of Nigeria. The project, which will gulp N48.7 billion, will be built in 24 months and has a completion date of 2019.
CBN to roll out five per cent interest loan for farmers
The Central Bank of Nigeria (CBN) said it would soon release more funds at not more than five per cent interest rate for farmers to acquire agriculture equipment, to enhance their productivity.
Reps To Probe CBN’s Non Remittance of $5bn Federal Account
The House of Representatives yesterday resolved to probe Central Bank of Nigeria, CBN over alleged under remittances of over $5 billion to the Federation Account. The House also resolved to set up an ad hoc committee to investigate the under remittances of revenue by the CBN…
Surging forex reserves boost prospects for rates convergence
Apex Bank’s dollar buffers increased by $2.5bn in one month With Nigeria’s foreign exchange reserves showing an upward trend and climbing to $36.9 billion as at December 14, 2017, the Central Bank of Nigeria (CBN)’s rates convergence target could be well within reach, findings by New Telegraph have revealed.
NCC, CBN to Sign MoU on Online Transaction
The Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN) are currently working on a Memorandum of Understanding (MOU) on online payments and transactions in the country…
Police Docks 2 Fake Forex Operators For N17.2m Fraud
The police in Lagos Tuesday arraigned a 35 year-old woman, Omotayo Omolere, and one Seth Adeyemi Amujo before a state Chief Magistrate’s Court in Ebute-metta over allegations of conspiracy, obtaining money under false pretence and stealing of the sum of N17.2 million.
Amosun launches mitros rice, as CBN promises 5% loan to farmers
Ogun State Governor, Senator Ibikunle Amosun, yesterday, launched a local brand of Ofada rice tagged MITROS Rice, lamenting the continued importation of agricultural products.
ProvidusBank provides customers access to Mastercard service in Nigeria
ProvidusBank launches World Elite Mastercard offering in Nigeria, providing affluent consumers and frequent travellers with a range of priceless benefits and lifestyle privileges both at home and abroad. This is the first launch of World Elite Mastercard in Sub-Saharan Africa.
GTBank rewards Traffic Wardens across Nigeria
From Enugu to Ekiti States, Lagos to the Federal Capital Territory, Traffic Wardens across the country are being surprised at their duty posts with Orange Sacks of gifts provided and delivered by foremost financial institution, Guaranty Trust Bank Plc. The gifts, which include items for the festive season and beyond, were provided by the Bank as part of its #NominateAChamp Campaign.
GTBank insider lending level low, says Afrinvest
Afrinvest West Africa Limited, a Nigeria-based research and investment advisory firm, has said that Guaranty Trust Bank Plc’s insider-related lending level is low, contrary to its earlier report categorising it as severe.
Innoson vs GT Bank: How industrialist allegedly defrauded bank, bullied EFCC, Police, courts with political connections
The Anambra-born industrialist and Chairman of Innoson Nigeria Limited, Mr. Innocent Chukwuma, may have succeeded playing the victim with his arrest, on Tuesday, by the Economic and Financial Crimes Commission (EFCC), but there are clear indications that he attempted to defraud Guaranty Trust Bank (GTBank) through forgery of documents.
Innoson withdraws ex parte application against EFCC, GTBank
Innoson Nigeria Limited and its Chief Executive Officer/Managing Director, Mr. Innocent Chukwuma, on Friday withdrew an ex parte application they filed against the Economic and Financial Crimes Commission. The other defendants in the ex parte application filed before the Federal High Court in Lagos are the Federal High Court, the Attorney General of the Federation…
APC chieftain wants GTBank’s licence withdrawn
A chieftain of All Progressives Congress, APC, and presidential hopeful in 2019 elections, Chief Charles Udeogaranya has urged President Muhammadu Buhari to demand the immediate withdrawal of GTB bank license and overhauling of the Economic and Financial Crimes Commission, EFCC, over the invasion of the house of businessman, Mr Innocent Chukwuma, popularly known as Innoson.
GTBank speaks on Innoson, EFCC controversy
Guaranty Trust Bank (GTB) on Thursday said it would continue to report any untoward and criminal activity to law enforcement agencies despite the criticism it has faced following the arrest of businessman Innocent Chukwuma. The bank, in a notice sent to the Nigerian Stock Exchange (NSE), on Thursday, said it would however not comment on a case already under investigation by the appropriate authorities.
Fidelity Bank’s CEO, Nnamdi Okonkwo Wows
The Managing Director and Chief Executive Officer, CEO, Fidelity Bank Plc, Nnamdi Okonkwo, aptly fits into the description of a banking wizard. Indeed, he is one of the few brains who have redefined the nation’s banking sector. Little wonder, when he was appointed the CEO of the new generation bank four years ago…
Davido becomes First Bank ambassador
Having won several awards this year, Davido is also ending the year on a good note as he signed a contract with First Bank to become one of their ambassadors. The Omo baba olowo, crooner took to his Instagram page to share the good news by posting photo of the event…
Win Tickets To The #FirstBank30Billion Concert
No do No do No do Serenren o! It is the ‘Baddest’ and Biggest Concert this year! FirstBank – Nigeria’s Premier Bank and Davido- Nigeria’s ‘Baddest’ artiste are partnering to ensure you have the best time at the #FirstBank30Billion Concert. The build-up and anticipation has kept the social media space buzzing for days and FirstBank is giving away FREE ticket on their social media pages…
Ecobank Group gets $200m syndicated loan facility from Dutch bank
Ecobank Transnational Incorporated, the Togo-based holding company of the pan-African Ecobank Group, thursday announced the closing of a $ 200 million 5- 7 year syndicated debt facility with FMO, the Dutch development bank. It is the second syndicated loan facility for the Ecobank Group arranged by FMO in recent years.
Dangote Cement, Dangote Sugar, Ecobank top equity losers’ chart
The Nigerian stock market continued in losses on Tuesday after Dangote Cement Plc, Dangote Sugar Refinery Plc and Ecobank Transnational Incorporated Plc recorded major losses in their share prices. The Nigerian Stock Exchange All-Share Index shed 46 basis points to settle at 37,783.76 points while the year-to-date return retreated to 40.6 per cent.
NFF/Zenith Bank Tourney: The future is here – Akinwunmi
NFF 1st Vice President and Chairman of the NFF Youth Football Committee, Barrister Seyi Akinwunmi was full of elocution on Tuesday, after another successful and highly inspiring conclusion to the NFF/Zenith Bank Future Eagles Championship.
Zenith Bank, nbbf propose better structure for women league
Title sponsors of the Women’s Basketball League Zenith Bank and the Nigeria Basketball Federation want a better structure put in place to improve the standard of the league and make it more competitive and economically rewarding for players An agreement on this was reached at a meeting between Zenith Bank and NBBF at its corporate headquarters in Lagos.
South-East win NFF/Zenith Bank tourney
South-East on Tuesday at the Agege Stadium in Lagos emerged as the champions of the NFF/Zenith Bank U-15 Future Eagles football tournament after beating North-West 5-2 in a thrilling encounter. Most Valuable Player and highest goalscorer of the tournament Divine Nwachukwu grabbed a hat-trick to help his team to victory.
FCMB gets commendation for sponsoring COPA Lagos Beach Soccer
First City Monument Bank (FCMB) has been commended by stakeholders in the sports sector and football fans for its unwavering commitment towards promoting youth development and sports in Nigeria over the years. They gave the commendation on Sunday, December 10, 2017 at the closing ceremony of this year’s Copa Lagos Beach Soccer Tournament organised by Kinetic sport limited
Retiree Emerges Winner in Skye Bank Promo
An ex-staff of the defunct Power Holding Company of Nigeria (PHCN) Bello Sarafa has emerged a new millionaire in the on-going Skye Bank ‘Reach for the Skye Millionaire Reward’ draw which took place in Lagos recently. The draw was graced by different dignitaries and financial stakeholders.
NSE adds Sterling Bank, Skye Bank, others to most influential stocks’ groups
THE Nigerian Stock Exchange (NSE) is expected to move Sterling Bank Plc, Diamond Bank and three other stocks to the top index of 30 most capitalised stocks in the forthcoming review of the stock market’s indices.
Sterling Bank to sponsor fans to Russia 2018
Sterling Bank, through its promo tagged 1 dament, has promised to sponsor eight fans to the Russia 2018 World Cup. The promo, which began in the first week of December, will end in March. Chief Marketing Officer, Sterling Bank, Henry Bassey, said, “Sterling Bank is in the business of making its loyal customers happy…
Minister commends Sterling Bank’s intervention in transport sector
The Minister of Transport, Rotimi Amaechi, at the weekend joined other stakeholders in the transport sector to commend the critical role being played by Sterling Bank Plc in the on going transformation of the sector. The Minister who spoke to reporters at the end of the2017 National Conference organised by the Ministry of Transport, commended Sterling Bank Plc for its intervention in Nigeria’s transport sector, saying such intervention from the private sector would help to accelerate the desired transformation in the sector.
Stanbic IBTC Holdings distributes 49.5m scrip shares to shareholders
Stanbic IBTC Holdings Plc at the weekend listed 49.466 million ordinary shares of 50 kobo each. The supplementary shares were due to the scrip dividend scheme offered by the holding company to eligible shareholders who elected to receive new ordinary shares in lieu of cash dividends.
RoE: Stanbic Ibtc, GTBank, Zenith Bank top banking
In the banking sector of the Nigeria Stock Exchange (NSE), Stanbic IBTC Holding Plc, Guaranty Trust Bank Plc and Zenith Bank Plc have led the ranking based on their Return on Equity (RoE) for the third quarter of 2017.
Heritage Bank gets CBN Sustainable Banking Award
Heritage Bank has won in the inaugural Nigeria Sustainable Banking Award convened by the Central Bank of Nigeria. The lender said in a statement on Sunday that it won the award for “For Sustainable Transaction of The Year in Agriculture” The award, which was in recognition of its success in sustainable development in 2017…
IAAF’s official hits Lagos for Access Bank Lagos City Marathon
The IAAF head of marathons and road races, Alessio Punzi will be in Lagos for the third edition of the Access Bank Lagos City Marathon slated for February 10, 2018.
Access Bank Secures $250m Facility to Finance MSMEs
Access Bank Plc disclosed at the weekend that it has so far secured at least $250 million from multilateral agencies for financing as low interest funds to the Micro, Small and Medium Enterprises (MSMEs) sub-sector of the Nigerian economy.
PHOTO: Former Union bank Manager gets 19 years in prison for N27 million Fraud
The Kaduna division of the court of Appeal today, December 18th, 2017 upheld the judgment of the Kano State High Court which convicted and sentenced an Ex-Bank Manager, Samuel Owoleye to 19 years imprisonment in 2012.