— Access Holdings PLC (file) By Adeola Idris — Targets N365bn by way of a Rights Issue as subset of Programme Access Holdings Plc, one of Africa’s leading financial groups, has unveiled plans to establish a Capital Raising Programme of up to US$1,500,000,000.00 (One Billion, Five Hundred Million United States Dollars) or its equivalent (‘the Programme’). The Programme aims to enhance the Group’s financial strength… []
By Adeola Idris The Central Bank of Nigeria (CBN) has revoked the mobile money licence of Cellulant Nigeria, a subsidiary of one of Africa’s oldest fintech companies Cellulant Corporation, according to a letter addressed to the company. The revocation took effect on December 6, 2023. Cellulant is therefore leaving the consumer-facing mobile money market to focus on providing payment services to businesses. The company told… []
— Access Holdings (file photo) By St. Johnson Adegboyega Access Holdings Plc (“The Group”) has announced its audited Consolidated and Separate Financial Statements for the year ended December 31, 2023. In the year under review, the Group recorded a robust growth in its Profits Before Tax, posting a healthy N729 billion, representing 335% year-on-year (YoY) increase from 2022. Access Holdings’ Gross Earnings also surged by… []
– MTN ad board By Bunmi Onakan MTN Group is exiting two markets in West Africa and Central Africa (WECA), revealing in its recent 2023 report that it agreed in December to sell its equity interests in Guinea-Bissau and Guinea-Conakry to Telecel following a sale and purchase agreement in December 2023. Subject to regulatory approval, the acquisition allows MTN to focus on its robust regional markets, such… []
By Adeola Idris A transformative collaboration aimed at broadening access to remittances across Africa has been forged among Coronation Group, Access Holdings Plc, Safaricom Plc and M-PESA Africa (the parties) as the parties come together in a strategic alliance dedicated to propelling financial inclusion and nurturing economic prosperity for millions across the continent. The parties aim to explore solutions that will provide a remittance… []
– Meta logo By St. Johnson Adegboyega Meta Platforms will allow content creators in Nigeria to make money through ads and other features, in a move it hopes will keep the country’s top content creators on its platforms. Those options and features are expected to be ready before June 2024, said Nick Clegg, the company’s President of Global Affairs. Content creators in America, Australia, Canada… []
– CBN Governor, Yemi Cardoso By St. Johnson Adegboyega No fewer than 17 out of the existing 24 Deposit Money Banks may be unable to meet the Central Bank of Nigeria’s capital requirement if it is increased from its current N25bn, according to a report by Ernst and Young. The new report, titled “Navigating the Horizon: Charting the Course for Banks amid Plans for Recapitalisation”,… []
– Fekomi Bitters on display By St. Johnson Adegboyega Fekomi Bitters, regarded as herbal remedy for waist pain, pile and revitalisation of men and women’s libido, has been launched into the Nigerian market. This is even as the herbal product has received official approval from the National Agency for Food and Drug Administration and Control (NAFDAC), ensuring its safety and efficacy for consumers seeking… []
– Telecommunication Masts By Adeola Idris Rising diesel prices are threatening Nigeria’s communication backbone, with telecommunication operators’ spending on the fuel rising to N50.28 billion in February. This was a 50.20 percent increase from the N33.48 billion (at N836.91/litre) they spent in the same period of 2023 and a 9.02 percent increase from the N46.12 billion (at N1,153.01/litre) spent in January. Diesel prices have been soaring since… []
By St. Johnson Adegboyega The countdown has begun to the 7th edition of the most anticipated culinary festival in Africa and Guaranty Trust Holding Company Plc (GTCO) is excited to announce dates for the 2024 GTCO Food and Drink Festival, set to take place from Friday, April 26th to Sunday, April 28th, at GTCentre, Plot 1 Water Corporation Drive, Oniru, Victoria Island, Lagos. The GTCO… []
– CBN governor, Yemi Cardoso By St. Johnson Adegboyega The Central Bank of Nigeria (CBN), on Wednesday, announced it has cleared the $7 billion foreign exchange (FX) backlog inherited by Governor Yemi Cardoso. The apex bank said the development fulfills a key pledge on his appointment and signifies a significant step towards restoring confidence in the economy. This was made known in statement on Wednesday… []
– WhatsApp logo By Bunmi Onakan WhatsApp has recently added extra bandwidth for expression with a long-awaited update: the ability to share videos up to one minute long on your status. Previously restricted to 30 seconds, this new feature allows you to express yourself more fully and share more comprehensive moments from your life. Read further to see how to get this particular WhatsApp update… []
– Access Bank building By St. Johnson Adegboyega Access Bank PLC and KCB Group PLC (“KCB”) have today signed a binding agreement to acquire 100 percent shareholding in National Bank of Kenya Limited (“NBK”) from KCB. The successful completion of the transaction is subject to conditions that are customary for transactions of this nature including receipt all regulatory approvals from, amongst others, the Central Bank… []
– Dame (Dr.) Adaora Umeoji, OON, as Group Managing Director/Chief Executive By St. Johnson Adegboyega Zenith Bank Plc has announced the appointment of Dame (Dr.) Adaora Umeoji, OON, as Group Managing Director/Chief Executive with effect from June 1, 2024, subject to approval by the Central Bank of Nigeria (CBN). She takes over from Dr. Ebenezer Onyeagwu, whose five-year term expires on May 31, 2024, after… []
– L-R: Guest Speaker, Solape Akinpelu; Polaris Bank’s Managing Director/CEO, Kayode Lawal; another Guest Speaker, Dr. Ifeyinwa Nwakwesi and Group Head, Customer Experience & Value Management; Mrs. Bukola Oluyadi, at the International Women’s Day (IWD) Webinar hosted by Polaris Bank in Lagos recently. By Bunmi Onakan Polaris Bank’s International Women’s Day (IWD) webinar themed: ‘Empowering Voices: Women Leading Change,’ offered a dynamic platform for insightful… []
– L-R: Lagos State Permanent Secretary, Public Service Office, Office of the Head of Service, Sunkanmi Oyegbola; Group Executive Director, Commercial Operations, Dangote Industries Limited, Fatima Aliko Dangote; General Manager, Lagos State Consumer Protection Agency (LASCOPA), Solebo Afolabi Adebayo (Esq); Consultant Strategy and Stakeholder Engagement, LASCOPA, Aderemi A. Fagbemi, at a One-day Conference and Exhibition to commemorate World Consumer Rights Day 2024 organized by LASCOPA,… []
– HOLCO new Chairman, Ajg-Imoukhuede By Bunmi Onakan Access Holdings Plc (‘the Holdco’), is pleased to announce the return of Mr. Aigboje Aig-Imoukhuede, CFR as its Non-Executive Chairman. Mr. Aig-Imoukhuede, CFR replaces Mr. Abubakar Jimoh, the erstwhile Chairman of the HoldCo who remains on the Board as an Independent Non-Executive Director. This visionary and accomplished leader is bringing an outstanding record of accomplishments, wealth of… []
– Mrs. Tomi Somefun, Managing Director/Chief Executive Officer of Unity Bank Plc By Femi Ojo Nigerian lender, Unity Bank Plc is partnering with SkillPaddy in its “Count Her In” tech Programme focused on empowering no fewer than 1000 female beneficiaries in Software Engineering Training. The IT skill development and empowerment initiative is intended to bridge talent supply gaps while providing individuals with the opportunity to meet their… []
– Interswitch logo By St. Johnson Adegboyega Interswitch, the Visa-backed Nigerian payments giant that reported $42 million in revenue for its financial year ended March 31, will enter into Nigeria’s telecommunications sector after acquiring a Tier 5 MVNO (Mobile Virtual Network Operators) license for ₦500 million ($1.08 million) from the Nigeria Communications Commission (NCC) in May 2023. “The company is investigating the launch of a… []
– EMP Convener, Nduneche Ezurike (M) Sheriff Adekoya, immediate right; Makuochukwu Okafor–Obi, Far left; Joseph Onaolapo and Michelle Agoh respectively By Adegboyega Johnson The Employee Place (EMP) Industry Meet-Up, now in its fifth year, recently convened at the CIBN Bankers Hall, Lagos, uniting thought leaders to delve into Generation Z’s influence on the professional landscape. Esteemed speakers, including Joseph Onaolapo (Jay On-air), Makuochukwu Okafor-Obi, and… []
