Access Holdings rebalances portfolio, takes majority of First Guarantee Pension
Charles Abuede
3 hrs
BY CHARLES ABUEDE In what would seem like a rebalancing of its portfolio following the 100 percent share capital acquisition of Access Pension Fund by First Pension Custodians on Wednesday, Access Holdings said it has now acquired a majority equity stake in First Guarantee pension Limited after both parties entered a definitive agreement regarding the […]
World Bank to release $30bn fund to tackle global food crisis
Onome Amuge22 hrs
BY ONOME AMUGE The World Bank has said it would make $30 billion available over the next 15 months as part of a comprehensive, global intervention fund to address food insecurity and raging inflation arising from the ongoing war in Ukraine. The international financial institution, in a statement on the funding plan, noted that the […]
Seplat appoints Omiyi, former Shell chief, to replace Orjiako as chairman
Anthony Nlebem22 hrs
BY CHARLES ABUEDE Seplat Energies has replaced its pioneer chairman, A.B.C. Orjiako, with former Shell executive, Basil Omiyi, who will be expected to meet with shareholders at the company’s next annual general meeting at which Orjiako’s notice to step down had been billed to take effect. Omiyi, who is a member of the board and […]
Airtel’s Smartcash PSB rolls out across selected cities in Nigeria
Charles AbuedeMay 19, 2022
BY CHARLES ABUEDE Leading telecoms operator, Airtel Nigeria, is rolling out its payment service banking operation in Nigeria after receiving its operating licence for a PSB business in Nigeria, the company said in a disclosure filed to the exchange and signed by Simon O’Hara, the company secretary. Airtel Nigeria explained that its mobile money service […]
First Bank buys out Access Bank’s pension business in 100% takeover
Charles AbuedeMay 19, 2022
BY CHARLES ABUEDE Nigeria’s lender, First Bank Holding, has said it has acquired 100 percent share capital of Access Pension Fund and Custodian, a pension business owned by Access Bank, through First Bank of Nigeria’s flagship subsidiary, First Pension Custodian Limited, on Wednesday, the holding company disclosed in a statement filed to the NGX. Incorporated […]
Nigeria’s diaspora inflows top $29bn on higher prices, bank channels – WB
Grace AirhuleMay 19, 2022
BY GRACE AIRHULE The World Bank Group has said that Nigeria’s Diaspora inflow will witness an increase to $29 billion in 2022 as a result of the continued adoption of official bank channels for the facilitation of remittance inflow and higher food prices in the country. The global bank, in a briefing paper titled, ‘Migration […]
IMF sees pandemic shocks leaving long-lasting scars on economic recovery
Chisom NwatuMay 19, 2022
BY CHISOM NWATU The International Monetary Fund (IMF) said some economies are still recovering from the unexpected shock induced by the pandemic, leaving long-lasting scars that have reduced the rate of economic growth in these countries. The fund, in a recent post, made the assertion in consonance with its various positions in the April World […]
MTN Nigeria aims to improve customer Wi-Fi experience working with Huawei
Rosemary IwualaMay 19, 2022
BY ROSEMARY IWUALA In order to enhance the experience of end-users on its network, MTN Nigeria has partnered with Huawei Technologies to launch a premium Wi-Fi service in the country. Mohammed Rufai, chief technical officer, MTN Nigeria, said that the development of the premium Wi-Fi is geared towards delivering a superior user experience with high […]
Sovereign Trust’s Q1’22 gross premium reaches N7.35bn on customers’ deposit
Olivia NnoromMay 18, 2022
BY OLIVIA NNOROM Sovereign Trust Insurance, one of Nigeria’s leading insurance underwriting firms, has reported a 37 percent year on year growth in its total gross premium written (GPW) to N7.35 billion in its unaudited results for the first quarter of 2022. Last year, the insurer saw its GPW come in at N5.37 billion in […]
Consumers to spend $74bn on digital goods in 4 years, from $54bn in 2022
Chisom NwatuMay 18, 2022
BY CHISOM NWATU New research has shown that the total value of end-user spending on digital goods through billing from carriers will surpass $74 billion by 2026, up from $54 billion in 2022. This increase of over 37 percent is a sign of the increasing demand for carrier billing as an alternative for digital commerce […]