BUSINESS

The recent acquisition of FBN shares by an entity associated with Oba Otudeko, an erstwhile chairman of the bank has sparked a fierce tussle for control among major shareholders of Nigeria’s oldest bank. Some of the major shareholders are said to have held a crucial meeting Sunday to plot how …

Demonstrating its commitment towards supporting businesses and promoting diversification in Nigeria’s financial sector, the Central Bank of Nigeria (CBN) revealed that in 10 years the apex bank refunded over N115.45 billion and over $22.7 million to customers for failed bank transactions. CBN stated that no fewer than 35,453 complaints from …

There are strong indications that the Chairman, Honeywell Group, Oba Otudeko, has consolidated his shareholding in FBN Holdings Plc as the largest shareholder with the acquisition of 4,770,269,843 units of shares through Barbican Capital Limited, an affiliate of Honeywell Group Limited, representing 13.3 per cent of its 35,895,292,791 outstanding shares …

Retail giant, Access Bank, has been recognized with the best Company Leadership in Gender Diversity Award; Family-Friendly Workplace Excellence Award, and Gender Equality Champion Award at the Gender Leader Awards (GLA) which held in Lagos, recently. The Bank also received a special recognition for its efforts in advancing Women Empowerment …

The Zone 2 Police Command in Lagos State has confirmed the arrest of two members of a syndicate linked to the hacking of no fewer than 1000 bank accounts in Nigeria. The spokesperson for the command, SP Hauwa Idris-Adamu, in a statement on Tuesday, said the suspects, who specialised in …

United Bank for Africa (UBA) Plc has signed an agreement with the Africa Continental Free Trade Area (AfCFTA) Secretariat to provide financing for up to US$6.0bn over the next three years to eligible small and medium enterprises, SMEs, across Africa. The bank signed the agreement with AfCFTA on the sidelines …

In a bid to address concerns raised by manufacturers and other stakeholders regarding recent tax changes, President Bola Tinubu has signed three executive orders suspending major tax measures. The move comes as a response to the need for clarity and adequate notice for tax adjustments, as specified in the 2017 …

As a way to protect financial system against problems associated with high-risk jurisdictions, the Central Bank of Nigeria (CBN) has warned Deposit Money Banks (DMBs) and Other Financial Institutions (OFIs) in the country to be wary of transactions with businesses and persons in the Russian Federation, the Democratic People’s Republic …

Nestle Nigeria Plc has appointed Mr Namit Mishra as the Finance and Control Director of the company effective 1st August 2023. This was disclosed in an official statement to Nigeria Exchange Limited which was obtained by Nairametrics. Mr Namit Mishra would be replacing Mr Sarmad Saleem who has been appointed …