Assault of Staff: GTBank Liberia Updates Public on Probe

By Dipo Olowookere The Chairman of the Board of Directors of Citibank Nigeria, Mr Yemi Cardoso, has been nominated to serve as the new Governor of the Central Bank of Nigeria (CBN). The renowned stockbroker and investment banker was picked for the position by President Bola Tinubu, according to a statement issued on Friday by the Special Adviser to the President on Media and Publicity, Mr Ajuri Ngelale. He would be screened by the Senate, and on confirmation; he will take over from the acting CBN Governor, Mr Folashodun Shonubi, for a term of five years at the first instance.

By Modupe Gbadeyanka Africa’s leading payment cards and digital tokens brand, Verve, has joined forces with a fast-rising digital bank, Moniepoint Microfinance Bank, to provide customers with cutting-edge financial solutions. Recall that recently, Moniepoint announced its foray into the retail banking segment, issuing debt cards to its customers. The financial technology (fintech) firm boasts over 1.5 million businesses using its terminals across Nigeria to serve 30 million banked Nigerians. To pave the way for enhanced access to financial services for Nigerians and bridge the gap between traditional banking and modern fintech innovations, both parties are collaborating. The partnership will give

By Aduragbemi Omiyale The forthcoming trade expo organised by Fidelity Bank Plc has received the endorsement of the Mayor of Houston Texas, Mr Sylvester Turner. Mr Turner, in a short video, highlighted the several side attractions scheduled for FITCC Houston and encouraged businesses to take advantage of the expo to expand their businesses beyond borders. He described the event as “A catalyst to support bilateral trade between Nigeria and Houston; and an opportunity for the Houston community and the diaspora to explore emerging trends, forge new partnerships and unlock new possibilities.” The Nigerian lender will, on Tuesday, October 24 and

By Ahmed Rahma The Governor of Borno State, Mr Babagana Zulum, has promised to provide patrol vehicles for the Civilian Joint Task Force (JTF) for the security of the state. The Governor, who cut short his visit to Abuja and Katsina due to last weekend’s killings in six communities of the state, expressed concerns about the situation of security in the state. About five people were killed by the terrorists, while several houses, police stations and churches were destroyed by the insurgents during the attack. “Thousands of bags of farm produce recently harvested by farmers, several shops, and market stalls

By Adedapo Adesanya Gains recorded by the shares of Central Securities Clearing System (CSCS) Plc on Monday, April 6 helped the NASD Over-the-Counter (OTC) Securities Exchange close in the green territory. At the close of transactions on the first day of the week, the share price of the securities depository company appreciated by 30 kobo or 2.40 percent to N12.49 per share from N12.19 per share. The stock was the only advancer yesterday and it spurred the 0.29 percent growth reported by the bourse’s major performance indicators. When market activities were brought to a halt on Monday, the NASD Unlisted

By Dipo Olowookere Nigeria’s stock exchange went down by 0.12 per cent on Thursday after rebounding the previous day as a result of renewed profit-taking by investors. Data obtained by Business Post from the Nigerian Exchange (NGX) Limited showed that the selling pressure was across the sectors of the market. The insurance space was the worst hit yesterday as it lost 1.45 per cent. The energy index fell by 0.61 per cent, the banking counter depreciated by 0.38 per cent, the consumer goods sector shed 0.30 per cent, and the industrial goods counter closed flat. Consequently, the All-Share Index (ASI)

Federal government has set up an inter-agency team to tackle the growing rate of illegal movement of huge sums of money from Nigeria to foreign countries. Special Adviser on Economic Matters, Office of the Vice President and Chairman of the Inter-agency Committee on Illicit Financial Flows, Mr Adeyemi Dipeolu, explained that funds meant for development were stolen and stashed away outside the country through various forms of corruption including smuggling, money laundering and tax evasion amongst others. Mr Dipeolu, at a workshop recently in Abuja, with member agencies of the committee comprising the Independent Corrupt Practices and Other Related Offences

By Investors Hub Asian markets ended mostly higher on Friday, tracking overnight gains on Wall Street. Buying interest was a bit subdued in some of the markets in the region, with investors staying cautious due to concerns about global growth and doubts about U.S. and China agreeing on a long-term trade deal anytime soon. Australian stocks ended notably higher, led by gains by financial, healthcare and energy shares. Information technology, telecom, resources and industrials shares exhibited a mixed trend. The S&P/ASX 200 Index ended up 57.10 points or 1 percent at 5,654.30 and the broader All Ordinaries Index closed with

By Dipo Olowookere Shareholders of MTN Nigeria will receive a N10 per share dividend for the financial year ending December 31, 2022. The board proposed this cash reward in a regulatory notice filed to the Nigerian Exchange (NGX) Limited. The payment is only for shareholders who have the company’s stocks as of March 27, 2023, with the payment date fixed for April 20, 2023. The telecommunications giant is rewarding its investors with this money amid a very profitable accounting year. Details of its financial results showed that the revenue generated in the year under consideration improved by 21.5 per cent

By Modupe Gbadeyanka The local currency traded flat at the parallel segment of the foreign exchange (forex) market on Wednesday. The Naira, which was sold at N364 to a Dollar on Tuesday, remained at the same rate yesterday, while the local currency, exchanged at N507 to the Pound on Tuesday, closed at the same amount on Wednesday. Also, the Nigerian legal tender, which was transacted at N448 per Euro two days ago, settled at N448 at the close of business yesterday. At the Investors’ and Exporters’ forex (I&E FX) window yesterday, the Naira was exchanged at N360 yesterday, while at

By Investors Hub The major U.S. index futures are pointing to a higher opening on Wednesday, with stocks likely to see further upside after ending the previous session mostly higher. The upward momentum on Wall Street comes as the results of the highly anticipated midterm elections on Tuesday came largely in line with expectations. Democrats are projected to retake control of the House for the first time since 2010, as Democratic candidates managed to flip a number of suburban districts across the country. Control of the House will give Democrats subpoena power, potentially leading to numerous investigations of President Donald