Coronation Merchant Bank to Launch Podcast Series

By Adedapo Adesanya  The Central Bank of Nigeria (CBN) would likely direct banks to increase their capital base in the coming months as part of a new policy push towards a $1 trillion Nigerian economy. The Governor of the apex bank, Mr Olayemi Cardoso, said this while delivering his keynote address at the 58th Annual Chartered Institute of Bankers of Nigeria (CIBN) dinner in Lagos on Friday. The new CBN chief used the event to unveil the bank’s monetary policy thrust and economic outlook for 2024, following the cancellation of the Monetary Policy Committee (MPC) meeting for the quarter. “We

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 Adedapo Adesanya President Bola Tinubu has thrown his full weight behind the plan by the Central Bank of Nigeria (CBN) to increase the capital base of banks in the country. The President expressed his views on this move, which last occurred in 2005, through his Special Adviser on Information and Strategy, Mr Bayo Onanuga, in his message at the 40th anniversary of The Guardian Newspapers in Lagos on Tuesday. He said bank recapitalisation was crucial to Nigeria achieving a $1 trillion economy. “Amidst the general lull in a global economy, our ambition to attain a $1 trillion economy appears

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 Adedapo Adesanya  The Naira put up a good fight against the United States Dollar at the black market on Tuesday after an abysmal performance on the first trading day of the week on Monday. At the parallel segment of the foreign exchange (forex) market in Nigeria yesterday, the local currency appreciated against the American currency by N1 to trade at N362 to a Dollar. The world currency had traded at N360 for over six months, but suddenly recorded a sharp appreciation against the Nigerian Naira, exchanging at N363 at the market as at Monday before retreating to N362 on

By Dipo Olowookere The official Twitter account of the Peoples Democratic Party (PDP), @PDPNigeria, has been closed. The opposition party also disowned one Deji Adeyanju as its Director of New Media and has now launched a new Twitter handle, @officialpdpnig, for effective control of its affairs. In a statement signed on Monday in Abuja by the party’s Head of PDP Publicity Unit, Chinwe Nnorom, the party said that the Chairman, National Caretaker Committee of the party, Sen. Ahmed Makarfi, directed the immediate closure of the party’s official twitter handle “@pdpnigeria“ and re-launched a new one. It said that the decision

By Ahmed Rahma The Nigerian Content Development and Monitoring Board (NCDMB) has defended its Executive Secretary, Mr Simbi Wabote, saying that the $5 million bribery allegation against him is false. A few days ago, one Mr Jackson Ude had accused Mr Wabote of receiving $5 million bribe from a German company to violate Nigeria’s local content laws on the Bonny Train 7 contract. The journalist has said, “Simbi Wabote, the Executive Secretary of the Nigeria Content Development and Monitoring Board, a lackey of Timipre Sylva, actually collected $5 million bribe from Kelvion, German company to violate Nigeria’s local content laws

By Dipo Olowookere Mr Frank Mba, an Assistant Commissioner of Police (ACP), has been appointed as the new spokesman of the Nigeria Police Force (NPF) with immediate effect. Mr Mba, a lawyer and intelligent police officer, was a former spokesman of the Lagos Command of the NPF, where he performed excellently well. His appointment as the Police Public Relations Officer (PPRO) was confirmed in a statement issued by the Deputy Force Public Relations Officer, CSP Aremu Adeniran. It was disclosed that the Acting Inspector General of Police, Mr Abubakar Adamu Mohammed, asked Mr Mba to take over the position from

By Modupe Gbadeyanka Not less than 30 customers of Ecobank Nigeria have been rewarded with 15 percent of their monthly contribution in their Target Savings Account in the lender’s ongoing promo. At a draw held at Ecobank’s Lagos head office, all the winners, whose accounts would be credited with the winning sums, were contacted through telephone calls at the draw venue and advised to visit their branches for confirmation. The process was supervised by officials of promo regulatory bodies including National Lottery Regulatory Commission (NLRC), Consumer Protection Council (CPC) and Lagos State Lotteries Board. The lucky winners emerged from the

By Dipo Olowookere The appetite for high yielding investment saw investors scrambling for treasury bills at the primary market auction conducted by the Central Bank of Nigeria (CBN) on Thursday. It was the last sale of fresh treasury bills by the apex bank for the month of May 2019 and the exercise was oversubscribed by N128.16 billion. However, the rush for the debt instrument saw a further slash in the rates, especially on the mid and long-tenors. Business Post reports that the CBN left the rate on the short-dated bill unchanged at its previous level. Treasury bills worth N67.37 billion

By Modupe Gbadeyanka For flagrant disobedience to a lawful directive from a government agency, the outlet of Bazaar Supermarket on Aromire Street, Ikeja, Lagos has been sealed. The retail store was closed down on Tuesday by officials of the Lagos State Consumer Protection Agency (LASCOPA). A statement issued by the agency explained that the company displayed some items on its shelves with inadequate information like the date of production, expiration and manufacturer’s details. According to the General Manager of LASCOPA, Mr Afolabi Solebo, during a routine visit to the place on February 24, 2021, some Croaker Steak, Checkerboard Cookies, Peanut

By Modupe Gbadeyanka Another opportunity has opened for new and existing customers of Zenith Bank Plc to win prizes for maintaining a minimum deposit of N5,000 from June 1, 2023, to May 31, 2024, in the Zenith Beta Life Season 3 Promo. The campaign is an avenue for the tier-1 lender to reward its customers with gifts during the promotional period, with 20 customers to be chosen through a bimonthly raffle draw for gifts worth N150,000 and five lucky customers for a cash prize of N500,000 in the quarterly draws. Zenith Bank said apart from having the N5,000 deposit; customers