Banking Professionals Gather for Citibank Cash & Trade Seminar

By Aduragbemi Omiyale The popular Ajose Adeogun Street and Roundabout on Victoria Island, Lagos, is wearing a new look, thanks to Zenith Bank Plc, which designed the areas with beautiful Christmas decorations. The yearly ritual of the financial institution is a part of its Corporate Social Responsibility initiatives aimed at setting the tone for the Christmas and Yuletide seasons. Performing the Light-Up ceremony, the 17th of its kind recently, the chief executive of Zenith Bank, Mr Ebenezer Onyeagwu, expressed his delight in heralding the 2023 Yuletide season by lighting up the iconic Ajose Adeogun Street and Roundabout. He urged everyone

By Aduragbemi Omiyale Deposit Money Banks (DMBs) have been directed by the Nigeria Inter-Bank Settlement System (NIBSS) Plc to yank off all financial institutions not licenced to hold customers’ funds from their NIBSS Instant Payment (NIP) outwards platforms. In a circular dated December 5, 2023, the agency said allowing these firms, which obtained licenses to operate as Payment Solution Service Providers (PSSPs), Switching Companies, Super Agents and others from the Central Bank of Nigeria (CBN), to collect funds from customers was in contravention of the law. NIBSS said only commercial banks and others authorised by the central bank to receive

By Aduragbemi Omiyale The Banker magazine, a publication of the Financial Times, has announced Stanbic IBTC Holdings Plc as the Bank of the Year in Nigeria. The Nigerian financial institution was honoured by the media platform as an awards cement held on Thursday, November 30, 2023, in London. The event, widely acknowledged as the Oscars of the Banking Industry, attracted several critical stakeholders in the global banking sector. It was explained that Stanbic IBTC Holdings was picked for the recognition because of its exceptional achievements in banking excellence, adept navigation of industry challenges, and commitment to providing innovative financial services

By Modupe Gbadeyanka Access Bank Plc has expressed its determination to support initiatives that promote knowledge, integrity, and the enduring legacy of excellence in the legal profession. The chief executive of Access Holdings, the parent firm of the lender, Mr Herbert Wigwe, while speaking at the launch of a book to honour Justice Amina Adamu Augie on Tuesday, November 28, 2023, said the financial institution has a strong affinity for the preservation and advancement of country’s judicial heritage. “We are proud to support the launch of Wisdom and Integrity: The Legacy of Honourable Justice Amina Adamu Augie JSC CON Through

By Dipo Olowookere For the fourth consecutive time this week, the Nigerian Stock Exchange (NSE) ended in the red territory despite a sharp increase in the volume and value of shares transacted during the trading session. The stock market closed 1.33 percent lower yesterday, sinking the year-to-date loss deeper to 19.96 percent at the close of business. This was as the volume of equities traded rose by 100.37 percent from 220.4 million to 441.6 million and the value of shares grew by 63.58 percent from N2.7 billion to N4.5 billion. Business Post reports that the expected release of the third

By Modupe Gbadeyanka The Nigerian government is to sanction revenue generating agencies that spend the money they generate without remitting same to government. The move is to help check the excesses of such agencies that are breaching financial regulations that guide their activities. Anambra State Governor, Dr Willie Obiano, said this while briefing journalists after the meeting of the National Economic Council in Abuja. Mr Obiano said that the Minister of Finance, Mrs Kemi Adeosun told the Council that some of these agencies been abusing financial regulations for over a decade now but the Ministry was working closely with the

By Investors Hub European stocks inched higher in cautious trade on Wednesday as investors kept an eye on the U.S.-China trade talks, political developments in the U.S and the latest FOMC minutes from the Fed meeting earlier this month. Brexit talks also remained in focus as the EU and U.K. enter the final stages of talks over foreign policy, security and economic relationship. The pan-European Stoxx Europe 600 index was little changed at 384.01 in late opening deals after rising 0.2 percent in the previous session. The German DAX was largely unchanged, while France’s CAC 40 index and the U.K.’s

By Modupe Gbadeyanka Global pharmaceutical and services company, Clinigen, is targeting to enter into the Nigerian market as well as other nine other countries in Africa as part of its expansion plans. As a result of this, the firm has extended its exclusive agreement with Eisai Europe Ltd to obtain the marketing authorisation and subsequently launch Halaven (eribulin), Fycompa (perampanel) and Lenvima® (lenvatinib) into 10 African countries. The new agreement follows the successful launch of Halaven and Fycompa in South Africa in February and July 2017 respectively. All three medicines will be submitted for registration in Namibia, Botswana, Zimbabwe, Zambia,

By Adedapo Adesanya The bulls remained on the floor of the NASD Over-the-Counter (OTC) Securities Exchange on Tuesday following a further 0.11 per cent gain posted at the close of transactions. This was buoyed by the increase in the share prices of market bellwethers, Friesland Campina WAMCO Nigeria Plc and NASD Plc. Friesland appreciated during the session by N2.74 or 2.1 per cent to close at N127.74 per share as against N127.00 per share of the last session while NASD Plc recorded a 36 kobo or 2.7 per cent increase to settle at N13.56 per unit versus Monday’s value of

By Dipo Olowookere The 33rd Perumin Convention closed on a high note on Friday, September 22, 2017 at Arequipa, Peru with South Africa winning the best international exhibition pavilion out of 16 countries. Among other countries which participated was Germany, USA, Chile, India, Canada etc. A group comprising of South African exporters of mining equipment and related services showcased their products at the 2017 Perumin Mining Convention, that took place from 18-25 September 2017 in Arequipa, Peru. The convention takes place bi-annually and brings together the world’s leading technology and services in the mining and metals sector. South Africa’s participation

By Modupe Gbadeyanka In line with its vision to achieve a Smart City, the Lagos State government under the leadership of Governor Babajide Sanwo-Olu, has approved the sum of N250 million seed capital for technology and innovation, tech start-ups and young innovators. The fund is meant to assist those in the Information and Communications Technology (ICT) industry push their entrepreneurial skills to the next level. It was also stated that the capital will help in conducting researches that would solve issues of national significance. Mr Sanwo-Olu, speaking on Thursday during the launch of the Lagos State Science Research and Innovation

By Adedapo Adesanya Brent Crude continued its downward trajectory early on Thursday, falling $62 per barrel, less than the $63 forecast for the year 2020. The International benchmark crude had been on the steady decline following series of activities that have shaken the global market this month. Beginning the year was the United States-Iran conflict, which after drove prices as high as $70 per barrel but subsided after the US said it was not going to retaliate the missiles launched by Iran on its bases in Iraq, which it said could devastate oil supply. The United States had killed the