Access Bank HoldCo structure nears as lender eyes matching global peers
Charles Abuede
December 10, 2021
All approvals-in-principles in Transforming to non-operating financial HoldCo Shareholders to hold shares in HoldCo, bank Ajoritsedere Awosika, chairman of the board of Nigeria’s tier-1 lender, Access Bank, says the bank intends to restructure into a non-operating financial holding company structure with the banking group and its banking subsidiaries. In a regulatory disclosure […]
NDIC lists claims payments credential supporting financial system stability
Adeola AjakaiyeDecember 10, 2021
By Adeola Ajakaiye, in Kano CEO Hassan at Kano trade fair, warns against ‘wonder banks’, Ponzi schemes The management of the over 32 years old Nigeria Deposit Insurance Corporation (NDIC), appearing at the Kano International Trade Fair, has listed its claims payment credentials to both individual and corporate insured and uninsured depositors running […]
CBN’s 100 for 100 beneficiaries could access N5bn per obligor in loan support
Charles AbuedeDecember 8, 2021
Aims to drive support for FG’s economic diversification plans The Central Bank of Nigeria (CBN) has set a maximum of N5 billion long-term loan facilities per obligor for the acquisition of plants and machinery, as well as working capital, to support private sector companies, the apex bank said as it released guidelines for […]
Market reacts poorly to FBN Holding’s weak Q3 earnings performance of N136bn
Charles AbuedeDecember 8, 2021
Q3 PBT down to N13.5bn; PAT down to N8.57bn; After about 50 percent jump in the stock price of First Bank of Nigeria Holdings since the end of September owing the acquisition of the bank’s shares by billionaire businessman, Femi Otedola, there was a negative investor reaction to the group’s weak third […]
CACOVID urges Nigerians to get vaccinated in the wake of new COVID-19 variant Omicron
Businessam StaffDecember 7, 2021
Just when it seemed like a semblance of normalcy was returning to the world after a gruelling battle with COVID-19, yet another variant of the virus simply known as Omicron has reared its head. The variant which was first identified by scientists in South Africa on November 24, 2021, has been labelled a “variant of […]
WIFT International partners Ife monarch, Swedish govt. to give over 20,000 women access to film fund
Charles AbuedeDecember 7, 2021
The women in film and television (WIFT) International in partnership with the Nigerian chapter of the organisation is set to host the 2022 edition of the bi-annual conference, bringing major stakeholders, international diplomats and traditional heads to give women an enabling environment, access to film and TV funds, reduces gender stifling barriers, and position women […]
Demand pressures tail bite economy as FX inflows fall 27% to $18.4bn in Q2’21
Charles AbuedeDecember 6, 2021
The Nigerian economy recorded a marked quarterly decline in inflows of foreign exchange by as much as 27 percent, and by 16 percent year on year, to $18.4 billion in the second quarter of 2021, recent data obtained from the Central Bank of Nigeria (CBN) quarterly statistical bulletin have shown. The recorded amount represents […]
Ecobank appoints former GTB ED as new CEO Nigeria, regional executive
Onome AmugeDecember 6, 2021
Pan-African banking conglomerate, Ecobank Group, has announced the appointment of Mobolaji Lawal as regional executive and managing director designate of Ecobank Nigeria, subject to the approval of the Central Bank of Nigeria (CBN). Lawal’s appointment, according to a statement by the bank, witnessed a keenly contested selection process, which included both internal and external candidates, […]
U.S Consulate in Lagos, Ascend Studios Foundation graduate 250 women entrepreneurs
Charles AbuedeDecember 5, 2021
Ascend Studios Foundation, founded by Inya Lawal, an alumna of the Fortune-U.S. Department of State Global Women’s Mentoring Partnership program, in partnership with the U.S. Consulate have continued to support the training of over 400 women entrepreneurs since 2019 through the Academy for Women Entrepreneurs (AWE) programme to date with plans for future cohorts. Drawing […]
10 Nigerian banks name customers buying FX with fake visas, documents
Charles AbuedeDecember 3, 2021
Nigerian banks are now acting in line with the name-and-shame directive of the Nigerian Central Bank as they have taken to publicising the names of BTA and PTA defaulters on their websites. Access Bank, Sterling Bank and Zenith Bank reported the most FX defaulting customers with their respective websites showing that Zenith recorded 879 FX […]