Access Bank Threatens to Publish Names of Debtors in Newspapers

By Modupe Gbadeyanka Customers of Ecobank Nigeria have been urged to remain on the alert as some scammers are taking advantage of SIM swaps to dupe their unsuspecting victims. The financial institution issued this alert in an email message to customers, urging them not to lose guard. The bank said phone users, who attached their mobile numbers to their bank accounts, to take extra caution when swapping their SIM cards, so as not to be victims of fraudsters. The lender explained to customers that SIM swap fraud occurs when scammers use your phone number to access your accounts. “Scammers impersonate

By Aduragbemi Omiyale Despite the challenging operating environment characterised by the Naira redesign policy and the foreign exchange (FX) unification policy of the Central Bank of Nigeria (CBN), Zenith Bank Plc showed why it is one of the strongest lenders in the country. Analysis of its financial statements for the first six months of 2023 showed that its gross earnings surged by 139 per cent to N967.3 billion from the N404.8 billion achieved in the same period of last year. It was observed from the results filed to the Nigerian Exchange (NGX) Limited on Monday that this triple-digit growth in

By Aduragbemi Omiyale The board of United Bank for Africa (UBA) Plc has raised the bar in the interim dividend payout for the first half of 2023, increasing it to 50 Kobo from 20 Kobo in the same period of 2023. This was after the bank recorded triple-digit growth in the bottom line, as the profit before tax (PBT) jumped by 371 per cent to N404 billion from the N85.75 billion recorded in the first half of 2022, translating to an annualised Return on Average Equity of 57.7 per cent as against 17.1 per cent a year earlier, as the

By Dipo Olowookere Minister of Mines and Steel Development, Dr Kayode Fayemi, has described his emergence on Saturday as flag bearer of the All Progressives Congress (APC) in the July 14, 2018 governorship election in Ekiti State as victory for democracy. According to him, the victory belongs to all Ekiti people who desired a change, applauding the doggedness of his co-contestants in the governorship primary, stressing that he would be counting on their support and wisdom in the main contest, notwithstanding the acrimony that characterised the primary election. In a statement issued by his media aide, Mr Olayinka Oyebode, the

By Ahmed Rahma The Federal Inland Revenue Service (FIRS) has maintained that the collection of stamp duty collection in Nigeria was still under its purview. The agency described as false publications in some newspapers and electronic/social media platforms that the Nigerian Postal Service (NIPOST) has been given the responsibility to carry out the function. NIPOST and FIRS have been at loggerheads over the right organisation to collect stamp duty in the country. A few days ago, NIPOST claimed the Minister for Communications and Digital Economy has mandated it to be in charge of the administration of stamp duties in the

By Investors Hub The major U.S. index futures are pointing to a roughly flat opening on Thursday, with stocks likely to show a lack of direction after moving sharply higher over the two previous sessions. The markets could continue to benefit from continued optimism about a potential interest rate cut by the Federal Reserve, although lingering trade concerns are likely to keep any buying interest somewhat subdued. Overall trading activity may also remain light as some traders may stay on the sidelines ahead of the release of the Labor Department?s closely watched monthly jobs report on Friday. Employment is expected

By Dipo Olowookere The World Bank and the International Monetary Fund (IMF) should bury the thought that Nigeria will float the Naira when the country is still battling with the foreign exchange (FX) supply shortage, the Central Bank of Nigeria (CBN) has submitted. Despite the rising price of crude oil, Nigeria, which relies heavily on the commodity to earn forex, is still unable to shore up its external reserves as a result of the shortage in production. The Organisation of the Petroleum Exporting Countries (OPEC), during the COVID-19 pandemic in 2020, slashed the production quota of members by 10 per

By Modupe Gbadeyanka MTN Nigeria and Airtel Nigeria have been directed by the Senate to remove their telecommunications masts erected in a residential area in the Federal Capital Territory (FCT) Abuja to another location. The order was given at the plenary on Wednesday following the recommendations of the Joint Senate Committees on Communications and Ethics, Privileges and Public Petitions led by Mrs Oluremi Tinubu and Mr Ayo Akinyelure. How the matter started One Mr Bashir Abdullahi and five others filed a petition against MTN Nigeria and Airtel Nigeria to the upper chamber of the National Assembly, alleging that the masts

By Investors Hub The major U.S. index futures are pointing to a lower open on Monday, with stocks likely to add to the steep losses posted last week Lingering concerns about the outlook for the global economy may generate some selling pressure along with uncertainty about the potential for a trade deal between the U.S. and China. At the Asia Pacific Economic Cooperation summit on Saturday, Vice President Mike Pence said the U.S. would not back down until China changes its ways. The stark warning dampened investor hopes for a thaw in U.S.-Chinese trade relations ahead of the G20 summit

By Dipo Olowookere The curfew earlier imposed on Odo Owa and Iloffa Communities in Oke Ero local government area of Kwara State has been relaxed. This information was made known in a statement issued by Secretary to the State Government (SSG), Mr Isiaka Sola Gold. The curfew was initially imposed on the towns following a violent conflict between both communities. Mr Gold, in the statement, said the curfew will now operate between 10pm and 6am daily with effect from Thursday, September 7, 2017 till further notice. He appealed to residents of Odo Owa and Iloffa to continue to maintain the

By Adedapo Adesanya FBN Holdings Plc and Sanlam Emerging Markets Proprietary Limited have announced the completion of the sale and transfer of FBN Holding’s 65 percent stake in FBN Insurance to Sanlam Limited. The Boards of Directors of both organisation stated this in a divestment announcement sent to the Nigerian Stock Exchange (NSE) on Tuesday, June 2, 2020. The divestment announcement was jointly signed by Mr Urum Kalu Eke, FBN Holdings Group Managing Director and Mr Heinie Werth, Sanlam Chief Executive Officer. The statement said the divestment confers full ownership of FBN Insurance and its subsidiary, FBN General Insurance Limited