Access Bank Records N41.2bn Profit in Q1 2019

By Aduragbemi Omiyale Zenith Bank Plc has taken a huge step to establish a subsidiary in France, and to make this a reality, it has sealed a Memorandum of Understanding (MoU) with the French government. The Chairman of the company, Mr Jim Ovia, confirmed that the lender may commence operations in the European nation next year, though it is working hard to secure a banking licence. This will add to other countries Zenith Bank has presence in, including Ghana, Sierra Leone, The Gambia, and a Representative Office in China. Speaking at a signing ceremony on Friday, November 24, 2023, Mr

By Adedapo Adesanya The Central Bank of Nigeria (CBN) has directed banks across the country to continue issuing and accepting old as well as the redesigned Naira banknotes following the order of the Supreme Court. Business Post reported on Wednesday morning that the apex court granted the prayer of the Minister of Justice and Attorney-General of the Federation to extend the use of old Naira banknotes ad infinitum, scrapping a previous deadline of December 31. In a statement after the judgement, the central bank “directed all its branches to continue to issue and accept all denominations of Nigerian banknotes, old

By Dipo Olowookere Nigeria has been ranked sixth on the Africa Financial Markets Index released recently think tank Official Monetary and Financial Institute Forum (OMFIF) and sponsored by Barclays Africa Group Limited (BAGL). According to the report posted on the website of OMFIF, the index ranked the maturity, openness, and accessibility of 17 financial markets in Africa based on both qualitative and quantitative criteria. Also, development of local investor capacity and ability to attract foreign capital were key points of focus of the indexing. The 17 markets surveyed were Botswana, Egypt, Ethiopia, Ghana, Ivory Coast, Kenya, Mauritius, Morocco, Mozambique, Namibia,

By Modupe Gbadeyanka No fewer than 16 suspects believed to be students of a Yahoo Yahoo Academy in Abuja have been arrested by the Economic and Financial Crimes Commission (EFCC). A statement issued by the anti-money agency disclosed that the academy trainees were apprehended along with the founder of the ‘school’ by operatives of its Abuja Zonal Command. According to the commission, the owner of the Yahoo Yahoo Academy, Mr Afolabi Samad, was apprehended on Thursday, May 12, 2022, in a sting operation. The 24-year-old was grabbed with the 16 ‘undergraduates’ who are between the ages of 18 and 27

By Modupe Gbadeyanka Global leader in seamless payment, Ingenico Group, has announced a strategic partnership agreement with Interswitch Nigeria Limited, the leading transaction switching and electronic payment processing company in Nigeria. Since 2002, Interswitch has been promoting the seamless circulation of electronic money by building the payments infrastructure and bringing new products and services to millions of customers, both in corporate and consumer segments, spread all over the country. The integration of Ingenico Group technology with Interswitch’s switching and processing system will allow end-users to benefit from the next generation of payment technology and the smoothest and most secure user

Investors Hub The major U.S. index futures are currently pointing to a lower opening on Monday, with stocks likely to give back ground following the rally seen last Friday. Lingering concerns about the ongoing U.S.-China trade war may weigh on the markets ahead of the next round of high-level trade talks in Washington later this week. Ahead of the talks, scheduled to begin on Thursday, a report from Bloomberg News said Chinese officials are signaling they?re increasingly reluctant to agree to the broad trade deal being pursued by President Donald Trump. Citing people familiar with the discussions, Bloomberg said senior

By Adedapo Adesanya Normalcy seems to have returned to the currency market in Nigeria as the Naira further appreciated against the United States Dollar at the various segments of the ecosystem. In the Investors and Exporters (I&E) segment of the foreign exchange (forex) market, the Nigerian currency gained 50 Kobo or 0.11 per cent to quote at N445.33/$1, in contrast to Thursday’s rate of N445.83/$1. It was observed that domestic currency withstood significant FX demand pressure during the trading session as forex traders completed transactions worth $159.02 million compared with the $99.50 million executed a day earlier, indicating a 59.1

By Modupe Gbadeyanka The Economic and Financial Crimes Commission (EFCC) has been asked to release a socialist and businessman, Mr Obinna Iyiegbu, otherwise known as Obi Cubana, with immediate effect. This demand was made by a pan-Igbo socio-political pressure organisation known as the South East Revival Group (SERG). The group queried the rationale behind the arrest of Obi Cubana on Monday, warning President Muhammadu Buhari to stay away from persons of the Igbo extraction. On Monday, information went viral that the philanthropist who shot into prominence this year when he buried his mother in Anambra State, was being questioned by

By Aduragbemi Omiyale The Head of the Office of the Chief Economist of the Securities and Exchange Commission (SEC), Mr Okey Umeano, disclosed that the commission would intensify its commitment to continue educating and enlightening investors to ensure they make informed investment decisions. In an interview in Abuja, Mr Umeano stated that the recent upsurge in the activities of illegal fund managers has been a source of worry to the agency and assured investors that the SEC was working hard along with other government officials agencies to reduce their activities to the barest minimum. “This is an area that we

By Adedapo Adesanya The National Pension Commission (PenCom) has disclosed plans to automate processes that would ensure seamless conduct of the annual verification and enrolment exercise. This was disclosed in a statement by the commission, where it noted that the new process has two options for the prospective retirees, namely self-assisted or the Pension Fund Administrator (PFA) assisted option. It maintained that the self-assisted option entails a prospective retiree scanning original copies of all relevant documents required for the exercise and uploading these documents to the enrolment web portal located on its website. PenCom added that after carrying out this