Airtel Celebrates World Teachers’ Day

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 Bliss Okperan A digital investment platform known as AltInvest has been introduced by a new kid in the banking industry in Nigeria, Alternative Bank. According to the non-interest lender, which commenced operations in October 2023, the new product empowers individuals to navigate seamlessly the investment world, blending ethical and digital features for increased accessibility. At the unveiling of the innovative financial solution at the 44th Kano International Trade Fair, the company also launched another produced AltBiz, which it said caters to the financial needs of businesses, offering a comprehensive suite of services to fuel growth, innovation, and sustainability. “These

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 Modupe Gbadeyanka A Nigerian lender, Fidelity Bank Plc, has agreed to adopt the single framework for a sustainable banking industry developed through collaboration between banks worldwide and the United Nations Environment Programme Finance Initiative (UNEP FI). Called the UN Principles for Responsible Banking (PRB), the initiative is a structure for ensuring that banks’ strategy and practices align with the vision society has set out for its future in the UN Sustainable Development Goals and the Paris Climate Agreement. Banks which have signed the principles commit to being ambitious in their sustainability strategies, working to mainstream and embed sustainability into

By Modupe Gbadeyanka A mobile application to make mutual fund investment easier for investors has been introduced by a leading investment management firm in Nigeria, SFS Capital. The interface known as SFS Fund Mobile App will enable individuals to start their mutual fund investment journey with ease. It can be downloaded for free download on Android and iOS and it has an easy-to-use dashboard that encourages transactions on the go. The launch of the SFS Fund Mobile app was in commemoration of the National Financial Awareness Day on Sunday, August 14, a day dedicated to assisting individuals to develop financial

By Modupe Gbadeyanka A member of the House of Representative, Mr Sabo Garbu, who is representing Potiskum/Nangere constituency at the National Assembly, has processed the release of 13 prisoners in Yobe State after paying their fine and compensation. He said this will help decongest the prison. The state Controller of Prisons, Mr Isa Sabo Kashuri, while responding on behalf of the benefitting prisoners, commend the lawmaker for bringing succour to the prisoners. He urged other philanthropists and organisations to come to the aids of prisoners. In a related development, in exercising his constitutional powers, Mr Ibrahim Gaidam, the Governor of

By Adedapo Adesanya FBNQuest, the investment banking and asset management subsidiary of FBN Holdings Plc, has announced the divestment of its stake in MainOne Cable Company to Equinix Inc. More than 10 years ago, FBNQuest Funds Limited invested $15 million of primary capital in MainOne to fund the company’s vision to build a 7,000km subsea submarine communications cable running from Portugal down the coast of West Africa. Over the years, MainOne has evolved from a submarine fibre optic cable operator to a leading West African data centre and connectivity provider with a presence in West Africa; Nigeria, Ghana, and Cote

By Adedapo Adesanya The Asset Management Corporation of Nigeria (AMCON) has seized properties belonging to Senator Abdulfatai Buhari over unwillingness to fulfil the terms of a N600 million loan. The corporation said it took the action after securing a court order to sell the assets to recover the loan. Mr Buhari, elected on the platform of the All Progressives Congress (APC), represents Oyo North. The unpaid loan was taken by a Buhari-linked company, Abadat Ventures Limited, from a major bank. It was classified as a Non-Performing Loan (NPL) and purchased by AMCON from the bank during the second phase of

By Dipo Olowookere Leading logistics solution provider with offices in over 160 locations in Nigeria, Red Star Express Plc, has expressed its intention to raise the sum of N1.33 billion from its shareholders. This capital raising, according to the company, would be done through rights issue at a date to be fixed by the board, subject to approval of the Nigerian Stock Exchange (NSE). As part of the moves to kick-start the process, stockbroker of Red Star Express, APT Securities and Funds Limited, has submitted an application to the NSE to approval and eventual listing of the new shares of

By Modupe Gbadeyanka The nation’s parlous energy situation took the centre stage on Monday in Asaba as stakeholders lamented the massive power outages in Delta State, particularly Sapele. They also agreed on eight – hour daily uninterrupted power supply for Sapele. Speaker of the Delta State House of Assembly, Mr Monday Igbuya, described the electricity situation in Sapele as unbearable and oppressive. Mr Igbuya spoke on the recent protest in Sapele. He gave his view on the drop in electricity supply in the country and its effects on people and organizations during. His comments follow a recent protest concerning the

By Modupe Gbadeyanka All is now set for the Africa Kids and Fashion week 2016 taking place in Lagos from December 9 to 11, 2016. The African Kids and Teens Fashion Week is an event created to showcase the best of African fashion for kids and teenagers and it also gives talented designers a platform to showcase their design, promote their brands and raise their visibility on a global fashion stage, teaching the children and members of the society the beauty and value of our cultural heritage. The event, packaged by SmartCode Africa, is aimed at showcasing promoting the best

By Dipo Olowookere The thirst of investors for longer tenor treasury bills at the detriment of the shorter tenor continued on Thursday at the Open Market Operations (OMO). Business Post reports that the N100 billion worth of the 91-day bills offered for sale by the Central Bank of Nigeria (CBN) received no single bid yesterday, whereas, the N300 billion worth of the 259-day instrument had fair subscriptions from traders. At the close of Thursday’s exercise, the apex bank raised the sum of N276.8 billion from the sale of the 259-day paper. This consequently helped in calming what would have been