By Elvis Eromosele I was at Ikeja underbridge recently and couldn’t find a place to ease myself. I looked, hard. People have had the same experience across major markets in Lagos. Lagos lacks conveniences. Open defecation is rampant in Nigeria. Lagos, often called the nation’s economic hub, faces a growing …
Read More »Union Bank Delists from the Nigerian Exchange After 52 years
After 52 years of listing on the Nigerian Stock Exchange, Union Bank of Nigeria Plc has announced that it would be delisting from the NGX. According to a corporate filing on the NGX website, the bank announced it is considering a payout of N7.70 per share to its shareholders in …
Read More »Palmpay Wins Big at the Nigerian Marketing Awards
Leading Nigerian fintech, PalmPay has won the awards for Financial Institution of the Year, Best Use of Social Media and Brand Manager of the Year in person of Kevin Olumese. The award was presented last Friday at the Prestigious Nigerian Marketing Awards at Eko Hotel and Suites, Victoria Island. The …
Read More »Stanbic IBTC Bank Showcases Upgraded EOL 2.0 Transaction Solution
Stanbic IBTC Bank Limited, a subsidiary of Stanbic IBTC Holdings, hosted a webinar focused on facilitating seamless payment experience for business owners through the enhanced Enterprise Online (EOL) payment platform. The webinar themed “Simplifying Payments for Businesses”, unveiled EOL 2.0, an upgraded solution created to facilitate smooth payment experience and improve human …
Read More »Fact-Checking the story: Polaris Bank Loses N26bn Loans Granted to 6 ex-Directors without Collaterals
By Olalere Ojedokun A report being syndicated by a section of online media with the title: Polaris Bank loses N26bn loans granted to 6 ex-directors without collaterals, made several claims in figures, interpretations and practices. Claim 1. POLARIS Bank has lost N26.005 billion worth of loans granted to 6 ex-directors, …
Read More »UBA Gross Earning Rises by 115% to N1.309 Trillion in Q3 2023
…Total Assets Grows by 49.5% to N16.24 trillion Consolidating on its recently released second-quarter performance, Africa’s Global Bank, United Bank for Africa (UBA) Plc, has again announced a splendid performance in its unaudited financial results for the third quarter ended September 30, 2023 (Q3 2023), recording impressive growth across all …
Read More »Who Owns PremiumTrust Bank?
Since its grand entrance into the Nigerian banking sector, PremiumTrust Bank has sent tongues wagging on the issue of ownership structure. Licensed by the Central Bank of Nigeria in December 2021 to operate as a Commercial Bank in Nigeria, but officially opened for business in Port-Harcourt, Rivers State on the …
Read More »Who is the New Acting CBN Governor, Folashodun Adebisi Shonubi
Following the suspension of the Central Bank of Nigeria Governor, Godwin Emefiele, President Bola Tinubu has appointed Folashodun Adebisi Shonubi as the Nigeria new acting CBN Governor. Before his new appointment, Adebisi Shonubi was CBN Deputy Governor (Operations Directorate). He assumed the position of Operations Directorate on October 17, 2018. …
Read More »President Tinubu Appoints Adebisi Shonubi, Acting CBN Governor
With the immediate suspension of the Central Bank of Nigeria Governor, Godwin Emefiele, from office, his Deputy (Operations Directorate) Folashodun Adebisi Shonubi, has been announced to act in his capacity in the meantime. President Bola Tinubu, on Friday night suspended Emefiele. The suspension was announced in a statement issued by …
Read More »eNaira Suffers Low Adoption, 98.5% of Wallets Remains Inactive – IMF
After one year of establishment, the Central Bank of Nigeria’s eNaira recorded low adoption, according to the International Monetary Fund. This was contained in a recent report titled ‘Nigeria’s eNaira, one Year After’ by the IMF. The Washington-based bank specifically stated that about 98.5 per cent of eNaira wallets downloaded …
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