Awosika Charges Women at DLM Capital to Support Each Other

By Adedapo Adesanya The Central Bank of Nigeria (CBN) has unveiled a digital platform for the submission of Microfinance Bank (MFB) licence applications with effect from Monday, September 25. The apex bank made this known in a statement signed by its Director of Corporate Communications, Mr Isa AbdulMumin. “The Central Bank of Nigeria (CBN) is pleased to announce the unveiling of a new online platform for submission of microfinance bank (MFB) licence applications,” the statement released on Wednesday said. According to the statement, the new online platform is called the CBN Licensing, Approval and Other Requests Portal (CBN LARP) and

By Modupe Gbadeyanka Momentum is already gathering for the 2023 edition of Hackaholics Digital Summit organised by Wema Bank Plc, owners of the foremost digital lending firm, ALAT by Wema. The event is dubbed Africa’s largest gathering of innovators, disruptors, regulators, policymakers, investors & customers in the digital space. A statement from the bank disclosed that this year’s programme will take place in Lagos on Friday, October 6, with attendance by invitation only, though interested customers and technology enthusiasts can secure a spot by registering at https://hackaholics.wemabank.com/digital-summit. The theme, according to the organisers, is Re-Imagine: Disrupting the Ecosystem for Scale,

By Adedapo Adesanya Yellow Card has joined forces with MoonPay, a global leader in the cryptocurrency ecosystem, towards expanding cryptocurrency accessibility in Nigeria by leveraging local bank transfers. Despite a ban on trading via official channels, Nigeria has emerged as a powerhouse in the African cryptocurrency landscape, with increasing numbers of individuals turning to digital assets to hedge against inflation and economic uncertainty. The volatility in the local crypto market, marked by the recent challenges faced by various crypto companies in Nigeria, has underscored the critical need for a stable and reliable means of accessing cryptocurrencies. This partnership between both

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 Adedapo Adesanya Some fishermen under the aegis of the Fishermen Association of Nigeria (FAN), Ondo State Chapter, have appealed to the state’s government to declare a state of emergency on the decay of infrastructure in the marine business. This is coming after President Bola Tinubu-led administration declared a state of emergency on food amid a rise in prices and shortages. The President said that some of the initiatives would include using money saved from the recent removal of a fuel subsidy to provide fertilisers and grains to farmers. The fishermen, recognising this development, through their national president, Mr Orioye

By Investors Hub European stocks are broadly lower on Wednesday as Chinese manufacturing data disappointed and media reports suggested the Trump administration is considering imposing additional tariffs on Chinese imports. The Federal Reserve’s policy decision also remains in focus, although no change to the fed funds rate is expected. The Bank of England announces its rate decision tomorrow, with analysts expecting a 25 basis point hike despite Brexit gloom. Meanwhile, Eurozone manufacturing activity remained subdued at the start of the third quarter, as initially estimated, final data from IHS Markit showed. The factory PMI rose to 55.1 in July from

By Aduragbemi Omiyale For her hard work, commitment and dedication, the management of Interswitch Group has promoted Ms Cherry Eromosele to the position of Executive Vice President (EVP) in charge of Marketing and Communications across its countries of operation. The graduate of Biology from the University of Benin, in a post, confirmed her elevation when she wrote, “If I have seen farther, it is because I have stood on the shoulders of giants. Sincere appreciation to all (too many to mention here) who have mentored and shaped my career outlook over the years. “As we continue our quest at Interswitch

By Adedapo Adesanya Heirs Oil & Gas Limited has pledged to boost oil production from the onshore block to 100,000 barrels per day. Business Post had reported the acquisition of oil mining lease OML 17 from Shell last month for more than a billion dollars provided by a consortium of global and regional banks and investors comprising Union Bank, Afreximbank, ABSA, Africa Finance Corporation, Hybrid Capital, and Amundi, a global asset management company. OML 17 has a current production capacity of 27,000 barrels per day and if it achieves this, it would help Heirs Oil become one of the largest

By Modupe Gbadeyanka President Muhammadu Buhari will, on Monday, October 31, 2022, leave the shores of Nigeria for London, the United Kingdom, for a medical check-up. A statement issued today by the Special Adviser to the President on Media and Publicity, Mr Femi Adesina, disclosed that Mr Buhari is expected back into the country in the second week of November. “President Muhammadu Buhari leaves for London, United Kingdom, on October 31, 2022, for a routine medical check-up. “He returns to the country in the second week of November 2022, the terse statement from Mr Adesina said. President Buhari has regularly

By Modupe Gbadeyanka The website of the Nigerian Stock Exchange (NSE) is presently. The online platform of the nation’s bourse has been down since weekend. Business Post gathered that the website has been inaccessible as a result of an upgrade being carried out on it. As at 11:20am on Monday, January 15, 2018, when Business Post checked the online platform, it was still down. “We are currently upgrading our website and will be back online shortly. Please excuse the inconvenience and come back soon. Thank You,” a notice on the website, www.nse.com.ng, read. The platform provides a veritable tool for

By Adedapo Adesanya No fewer than 4,000 women from the rural areas across the 23 local government areas of Kaduna State are to benefit from the federal government’s grant under its National Social Investment Programme (NSIP). The Minister of Humanitarian Affairs, Disaster Management and Social Development, Mrs Sadiya Umar Farouq, said this at the inauguration of the Rural Women Cash Grant programme on Wednesday in Kaduna. She said that the gesture would help to give a helping hand to some of the poorest and most vulnerable citizens in the country as a clear demonstration of the government’s commitment to collectively

By Modupe Gbadeyanka Leaders of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and the Petroleum & Natural Gas Senior Staff Association of Nigeria (PENGASSAN) have commended President Muhammadu Buhari for declaring June 12 as Democracy Day in Nigeria instead of the usual May 29. In a statement issued today on the matter, which was made available to Business Post, the notable groups in the oil and gas industry also hailed the President for conferring a posthumous GCFR title on the winner of June 12, 1993, presidential election, late Moshood Kashimawo Olawale Abiola, and GCON titles on his