Brand & Business

Sterling One Foundation Announces Afreximbank as Strategic Partner for Africa Social Impact Summit 2024

— Sterling One Foundation (File) By Bunmi Onakan To foster more private sector participation in the drive towards the achievement of the Sustainable Development Goals (SDGs) in Africa, the Sterling One Foundation has announced African Export-Import Bank (Afreximbank) as its strategic partner in hosting the third edition of the Africa Social Impact Summit (ASIS) to be held from July 25 -26, 2024 in Lagos, Nigeria…. []

Fidelity Bank Eyes Oversubscription To N127.1 billion Combined Offers

— File photo of Fidelity Bank  By Adeola Idris  Against the background of groundswell of supports and enthusiasm for the bank’s ongoing offers, Fidelity Bank Plc has started preparations to allow the bank absorb oversubscriptions. With investors rallying behind the bank’s N127.1 billion combined rights and public offer, market pundits had indicated that the bank would raise more than initial size of the combined offer…. []

Liquidation: NDIC, Law Enforcement Agencies To Investigate Heritage Bank Executives

— File photo of the defunct Heritage Bank  By Adeola Idris  Following the ultimate and timely collapse that recently befell the now-defunct Heritage Bank, the Nigeria Deposit Insurance Corporation (NDIC), in collaboration with law enforcement agencies, is set to investigate the directors, managers, and staff of the bank. The announcement comes over a month after the bank’s liquidation. Bello Hassan, NDIC managing director represented by… []

Access Bank PLC Consolidates Operations in East Africa, Completes Acquisition of BancABC Tanzania

— Roosevelt Ogbonna, Access Bank’s Managing Director/Chief Executive Officer By St. Johnson Adegboyega    Access Bank PLC (“the Bank”) has announced the successful completion of its acquisition of African Banking Corporation (Tanzania) Limited (“BancABC Tanzania” or “BancABC”), in line with its strategic expansion goals. This milestone follows the Bank’s initial announcement in July 2023 and marks yet another step in its journey to become the… []

Fidelity Bank leads trading as equities gain N324b

By St. Johnson Adegboyega Fidelity Bank Plc was the most active stock on Monday, 10 June 2024 at the Nigerian stock market as a strong positive sentiment led Nigerian equities to a net capital gain of N324 billion in the first trading session of the week. The market opened with widespread positive sentiment as investors sought to lock into value stocks in the high-end sectors… []

Banks, Experts, Others Explore Customer Service Experience at 3rd ACAMB Stakeholders Conference

— (File) ACAMB Logo By Adeola Idris  The Association of Corporate Affairs Managers of Banks (ACAMB) is pleased to announce its third National Stakeholders’ Conference with the theme: Building Bridges: Collaborative Solutions for a Trusted Banking and Financial Services Experience. The conference, where end-to-end customer service issues in Banks and other financial institutions will be explored by top-tier select Speakers and subject experts’ panel, is… []

Fidelity Bank Distributes Food Packs to Families in Keffi

— Fidelity Bank Logo By Adeola Idris  Leading financial institution -Fidelity Bank PLC -has distributed food packs to women, widows, children, and the vulnerable in Keffi, Nasarawa State as part of its Corporate Social Responsibility (CSR) activities. Addressing newsmen in Keffi, Nasarawa state during the distribution event tagged, “Fidelity Food Bank Initiative”, which was carried out in partnership with ABBASID Charity Foundation, the Divisional Head,… []

Analysts Place “buy” On Fidelity Bank

— Nneka Onyeali-Ikpe, Managing Director, Fidelity Bank Plc By Adeola Idris  Highly-rated, independent investment advisory firms have picked Fidelity Bank as a very attractive stock with potential to generate high returns for investors. Independent investment research reports by many market pundits reviewed at the weekend showed that Fidelity Bank was assigned “buy” ticker, a recommendation to investors to consider the potential attractive returns of the… []

Zenith Bank’s Landmark N125.59bn Dividend Payout Excites Shareholders

— Founder and Chairman of Zenith Bank Plc, Jim Ovia, CFR (Centre) flanked by the Group Managing Director/Chief Executive, Dr. Ebenezer Onyeagwu (Left) and the Deputy Managing Director, Dame (Dr.) Adaora Umeoji, OON (Right) during the 33rd Annual General Meeting (AGM) of the bank held at The Civic Centre, Victoria Island, Lagos. Shareholders of Zenith Bank Plc, at the 33rd Annual General Meeting (AGM) held at the Civic… []

AltBank Walks Against Hunger and Advocates for Education.

– Alternative Bank logo By Bunmi Onakan The Alternative Bank Limited (AltBank) has announced a strategic collaboration with FoodBank and Sterling One Foundation to raise approximately N20 million in support of hunger alleviation and educational initiatives. This initiative aligns with the theme of the African Union Summit 2024, “Educate and Skill Africa for the 21st Century.” Hassan Yusuf, the Managing Director of The Alternative Bank,… []

Mastercard Partners With Mono To Boost Nigerian Startup In Direct Bank Payment

— Mastercard logo (File) By St. Johnson Adegboyega  Mastercard, the second-largest payment network in the world, has partnered with Mono, a Nigerian YC-backed open banking startup, to enable payments directly into bank accounts without cards or USSD codes. For Mono, this partnership is another leap forward in its race to profitability. “In 2023, we moved from negative to positive gross profit, and we want to be profitable… []

Maltina Shares Happiness with Special Iftar Soiree for Ramadan

– Muslim faithfuls at the event  By Bunmi Onakan  In line with its ‘Show Kindness, Share Happiness’ Ramadan campaign, Maltina, Nigeria’s leading malt drink brand, has again demonstrated its commitment to sharing happiness with consumers. The brand hosted a select group of Muslim faithfuls to a special Maltina Iftar soiree on 31 March 2024. The Iftar soiree embodied the true spirit of Ramadan, encouraging a… []

Transcorp Group Demonstrates Robust Growth in FY 2023; Revenue Increases By 47.3%, PBT by 93.5%

— Transcorp Corporation Plc logo Transnational Corporation Plc (“Transcorp” or the “Group”), Nigeria’s leading listed conglomerate, announces its financial results for the year ended December 31, 2023. The Group achieved substantial growth in its financial indicators, reinforcing its market leadership and strategic positioning. —  Dr. (Mrs) Owen D. Omogiafo, President/Group Chief Executive Officer of Transcorp In its audited results, Transcorp reported significant year-on-year growth, with… []

MTN Online Subscription Falls Over NIN-SIM Compliance

— MTN digital ad (file) By St. Johnson Adegboyega  Internet subscriptions of the largest telecom operator in the country, MTN Nigeria has dropped in January due to efforts to comply with the Nigerian Communications Commission’s (NCC) mandate to link all SIM cards with a National Identity Number (NIN). MTN saw over 2.8 million subscribers drop from its internet business leaving 67.8 million subscribers in January from 70.6… []

Nigerian 3-year-old Fintech, Thepeer Shuts Down

— ThePeer founders, Chike Ononye and Michael Okoh By St. Johnson Adegboyega  Thepeer, a Nigeria-based API startup that raised a $2.1 million seed round in June 2022, has shuttered its business and will return its remaining capital to investors after failing to scale, the company said in a statement on Monday. The three-year-old startup said it closed shop after realising its exceptional technology alone wasn’t sufficient. “Our unique service… []

Banks are in good stead to meet CBN’s recapitalisation target – ACAMB

The Association of Corporate & Marketing Communication Professionals of Banks (ACAMB) logo By St. Johnson Adegboyega The Association of Corporate & Marketing Communication Professionals of Banks (ACAMB) has assured the banking public that banks in the country have the wherewithal to meet the Central Bank of Nigeria (CBN) recent directives on recapilitalisation of the sector. The Association in a statement signed and released by its… []

Zenith Bank Emerges Nigeria’s Best Bank For The Fourth Year In At Global Finance Awards 2024

–Outgoing Group Managing Director/Chief Executive of Zenith Bank, Dr. Ebenezer Onyeagwu receiving the award  By St. Johnson Adegboyega  Zenith Bank Plc has emerged as the Best Bank in Nigeria in the Global Finance Best Banks Awards 2024, winning the award for the fourth time since 2019. The Bank was among other banks from 36 countries in Africa recognised as the prestigious Global Finance announced its… []

How CBN New Capital Requirement May Affect Citibank, Standard Chartered, Other Nigerian Banks

– City Bank, Standard Chartered Banks By Muyiwa Akinola  The recent announcement from the Central Bank of Nigeria (CBN) indicating a new round of bank recapitalization has significant implications for foreign-owned banks operating in Nigeria, including US-owned Citibank and UK-owned Standard Chartered Bank. The CBN announced an increase in the capital base for commercial banks with international authorization to N500 billion and national banks to N200 billion…. []

Former UBA GMD, Kennedy Uzoka Picks New Appointment With Africa Prudential Plc

– Kennedy Uzoka  By St. Johnson Adegboyega  The Board of Africa Prudential Plc has announced the appointment of former Group Managing Director and CEO of United Bank for Africa (UBA), Mr. Kennedy Uzoka as an Independent Non-Executive Director of the Board. The appointment of Mr. Kennedy follows the retirement of Mr. Emmanuel Nnorom as a Non–Executive Director of the Company which takes effect from the… []

Copyright Infringement: NCC drags MTN, CEO, Karl Toriola, Others To Court

— MTN, NCC logos By Adeola Idris  The Nigerian Copyright Commission (NCC), has filed charges against MTN Nigeria Communications Ltd. and four others over alleged copyright infringement. The charge with Number FHC/ABJ/CR/111/2024 filed in the Federal High Court, Abuja Division was obtained by the News Agency of Nigeria (NAN) on Monday. The four other defendants in the case are Karl Toriola, the Chief Executive Officer of MTN… []