Tinubu’s sneaky FX windfall tax unsettles Nigerian banks
Post AMUGE
July 22, 2024
ONOME AMUGE IN LAGOS, NIGERIA Faced with a persistent fiscal shortfall, the Nigerian government has devised a daring strategy to shore up revenue by imposing a windfall tax on the nation’s banking sector, seeking to capture an estimated N1.35 trillion in revenue from some banks if all their foreign exchange (FX) profits are realised. However, […]
Nova Bank anchors commercial banking entry on digital-first focus
Post AMUGEJuly 17, 2024
Tags self ‘Phygital’ institution Targets Ikeja, Apapa, Abuja, Port Harcourt Joy Agwunobi Nova Bank Limited launched its maiden voyage into Nigeria’s commercial banking with the recent opening of its first branch in Victoria Island, Lagos, after years as a merchant bank. The bank’s entry marks a transformative shift in the sector, as Nova Bank […]
Global ambition seen in Access Bank’s $1bn UK goal with rights issue on tap
Post AMUGEJuly 16, 2024
*Eyes being among Top 20 UK banks by 2027 *Among top 5 African banks, leading banks globally *Targets 125m customer base *Ambitious $1.5bn capital raising programme on PHILLIP ISAKPA IN LONDON & ONOME AMUGE IN LAGOS Access Bank, the arrowhead of Access Holdings Plc, Nigeria’s largest financial institution by assets and customer size, and Africa’s […]
Zenith Bank Solidifies Status as Nigeria’s best commercial bank, best corporate governance leader in World Finance 2024 Awards
Post AMUGEJuly 11, 2024
Zenith Bank Plc has yet again proved its dominance in the financial sector, as it emerged best commercial bank, Nigeria in the World Finance Banking Awards 2024, retaining the position for four consecutive years. In another laudable achievement, Zenith was named Best Corporate Governance, Nigeria, in the World Finance Corporate Governance Awards 2024 for the […]
Access Holdings shareholders vote confidence in N351bn rights issue
Post AMUGEJuly 10, 2024
Business a.m. L-R: Morounke Olufemi, group chief financial officer, Access Holdings Plc; Temi Popoola, group CEO, NGX Group; Bolaji Agbede, acting group managing director /CEO, Access Holdings Plc; Umaru Kwairanga, group chairman, NGX Group; Aigboje Aig-Imoukhuede, chairman, Access Holdings Plc; Ahonsi Unuigbe, chairman, Nigerian Exchange Limited; and Roosevelt Ogbonna, group managing director/CEO, Access Bank Plc, […]
UBA’s Alawuba appointed chairman CIBN Body of Banks’ CEOs
Post AMUGEJuly 9, 2024
Business a.m. Oliver Alawuba, group managing director and chief executive officer of United Bank for Africa (UBA) Plc, has been appointed chairman of the Chartered Institute of Bankers of Nigeria (CIBN) Body of Banks’ CEOs Alawuba’s appointment, according to the organisation, underscores his extensive experience and visionary leadership in the banking sector, as well as […]
GTCO eyes business expansion with proposed N400.5bn public offer
Post AMUGEJuly 9, 2024
Cynthia Ezekwe Guaranty Trust Holding Company (GTCO) Plc, one of Nigeria’s top financial services institutions, has unveiled plans to raise N400.5 billion to fund expansion initiatives across its business groups, including a recapitalisation of its banking subsidiary. To achieve this objective, the holding company plans to offer nine billion ordinary shares of 50 kobo each […]
Access Holdings secures top spot in bank strength index ranking
Post AMUGEJuly 5, 2024
Business a.m. Access Holdings PLC has emerged as the leading Tier-1 bank in the 2024 Proshare Bank Strength Index (PBSI) report, a testament to its exceptional performance and growing influence in Nigeria’s banking industry. The PBSI, which ranks banks based on a comprehensive set of financial metrics derived from their audited financial statements for the […]
NOVA Bank takes flight as national commercial bank after CBN approval
Post AMUGEJuly 3, 2024
Business a.m. Phillips Oduoza, chairman and founder of NOVA Bank NOVA Bank, formerly known as NOVA Merchant Bank, has officially transitioned into a fully-fledged National Commercial Bank, launching its first commercial banking branch at 18, Kofo Abayomi Street, Victoria Island. Building on the Central Bank of Nigeria’s (CBN) approval of its final license to operate […]
Access Holdings undertakes N351bn rights issue to strengthen financial position
Post AMUGEJuly 3, 2024
Business a.m. L-R: Bolaji Agbede, acting group managing director, Access Holdings Plc; Aigboje Aig-Imoukhuede, chairman, Access Holdings Plc, and Roosevelt Ogbonna, managing director/chief executive officer, Access Bank Plc, at the signing ceremony for Access Holdings’ Rights Issue of 17,772,612,881 ordinary shares of N0.50 each at N19.75 per share, held at Access Tower in Victoria Island, […]