COVID-19: Keystone Bank Unveils Platform to Assist SMEs

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 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 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 Dipo Olowookere Oyo State Governor, Mr Abiola Ajimobi has approved the appointment of Mr Waheed Gbadamosi as the Director-General of the newly-established Bureau of Physical Planning and Development Control. This was contained in a statement issued in Ibadan on Wednesday by the Special Adviser to the Governor on Communication and Strategy, Mr Yomi Layinka. Until his appointment, Mr Gbadamosi was the Special Adviser to the Governor on Physical Planning and Environment. According to the statement, Mr Gbadamosi, whose appointment takes immediate effect, is a retired General Manager with the Oyo State Housing Corporation and former Consultant to the United

By Adedapo Adesanya Nigerian international footballer, Kelechi Nwakali, has called out his former club, SD Huesca Football Club, over the termination of his contract after he honoured the call to wear the Super Eagles shirt at the recently concluded African Cup of Nations (AFCON). In an official statement via his official Twitter account on Wednesday, the 2015 FIFA U-17 World Cup winner narrated his ordeal at the hands of the club’s sporting director, Mr Ruben Garcia. Nwakali alleged that following his call up in December last year, Mr Garcia, “put extreme pressure on me not to go to AFCON due

By Dipo Olowookere The Nigerian stock market returned to the red territory on Tuesday after it depreciated by a marginal 0.01 per cent on the back of profit-taking. The decline in the share prices of UPDC, GTCO, UBA, Oando and 11 others contributed to the downfall of the Nigerian Exchange (NGX) Limited yesterday as they outweighed the gains posted by Access Bank, Flour Mills, Honeywell Flour and 16 others. At the close of transactions, the All-Share Index (ASI) declined by 4.99 points to 43,255.14 points from 43,260.13 points, while the market capitalisation remained unchanged at N22.576 trillion. Business Post reports

By Dipo Olowookere A total of $7.136 billion has been released by the Central Bank of Nigeria (CBN) to the Bureaux De Change (BDC) and the interbank segments of the foreign exchange market. This amount was disbursed by the apex bank to meet the needs of customers who require forex to pay school fees, medicals and BTA. Also, it was released to held SMEs owners who need forex to imports some materials from foreign countries. According to National Daily, the CBN disbursed the amount between February 21 and June 21, 2017, to ease the pressure in the forex market and

By Adedapo Adesanya A two-storey building has partially collapsed in the Gbagada Area of Lagos State. The unfortunate incident occurred in the wee hours of Thursday, August 1, 2019. The affected property, Business Post gathered, is located at number 9, Adio Street, in the New Garage area of Gbagada. It was discovered that many were trapped under the rubble of the collapsed building and a swift evacuation exercise by sympathisers and first responders led to the rescue of two persons, with more victims expected to be saved. According to reports reaching us, response has come from agents of the Lagos

By Modupe Gbadeyanka It appears management of Keystone Bank Limited has proceeded on a drive to give a face-lift to its various branches across the country as part of the post- divestment repositioning. Recall that after the announcement of the successful sale of financial institution, the new owners, Sigma Golf-Riverbank Consortium, promised to take active steps towards turning around its operations in order to become more competitive in the banking sector. This promise seems to have been kept by the new investors, who have silently been carrying out different developmental plans to make the lender one of the strongest in

By Modupe Gbadeyanka Mr Olabode Mustapha has been nominated by President Muhammadu Buhari to chair the board of director of the Nigerian Deposit Insurance Corporation (NDIC). Also, the President nominated six other Nigerians as members of the board of the agency, which is saddled with the responsibility of protecting depositors and guarantee payment of insured funds in the event of failure of insured institutions. The nominees for membership of the agency are Festus Keyamo (SAN), Garba Buba, Bello Garba, Mustapha Adewale, Brig-Gen Josef Okoloagu (rtd) and Adewale Adeleke. At the plenary yesterday, the Senate Leader, Mr Ahmad Lawan, said President

By Modupe Gbadeyanka Profit-taking by investors at the Nigerian bourse on Thursday plunged the major market indices to the negative territory. The Nigerian Stock Exchange (NSE), which had closed 0.15 percent higher on Wednesday, finished 0.4 percent yesterday. The absence of any positive development dampened the mood of investors at the stock market, leading them to quickly sell off to make gains. This reduced the All-Share Index (ASI) yesterday by 149.49 percent to close at 31,210.79 points, while the market capitalisation decreased by N56 billion to end at N11.639 trillion. During the trading session, the volume of shares exchanged by