Ecobank Academy Joins Global Business School Network

By Adedapo Adesanya Klasha, a leading global cross-border payments company, has been granted a Money Services Business (MSB) license by the Financial Crimes Enforcement Network (FinCEN) to operate in the world’s largest economy, the United States. This license authorizes Klasha to operate as a currency exchange and money transmitter in the US. With this MSB license, Klasha can now offer its innovative cross-border payment solutions and financial services to businesses in the United States that want to send and accept cross-border payments from Africa and carry out foreign exchange services and international money transfers with ease and security. “We are

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 A group known as the Oil Industry Indigenous Capacity Action Committee has faulted President Muhammadu Buhari’s order for the restoration of an earlier cancelled Oil Mining Licences (OMLs) 123, 124, 126 and 137 to Addax Petroleum. The presidency had issued a statement to disclosed that President Buhari approved the restoration of the leases on the OMLs to the Nigeria National Petroleum Corporation (NNPC), which had a production sharing contract deal with the Chinese government-owned establishment. The decision had drawn criticisms from several quarters and it was argued that the action was not in line with the current

The Nigerian National Petroleum Corporation (NNPC) has disclosed that in June 2016, it transferred the sum of N55.96 billion into the Federation Account. It further said in the same month, a deficit of N26.51 billion was recorded in its operations. NNPC made disclosed these information and others in its monthly financial report for June released in Abuja on Sunday. “NNPC transferred the sum of N55.96 billion into the Federation Account during the month under review from the net domestic crude oil receipt of N102.68 billion. “Also, the 23rd instalment of the refund to the Federal Government of N6.33 billion was

By Adedapo Adesanya Sub-Saharan Africa’s payment infrastructure company, AppZone, has been announced the winner of the Excellence in Blockchain Technology Award at the 2022 edition of the Africa Fintech Summit, recently held in Washington DC. Now in its 7th year, the Africa Fintech Summit brings the entrepreneurs and opportunities revolutionizing finance in Africa to the world’s stage, through a series of pan-African summits, roundtables, virtual events, and investor missions. The Africa Fintech Summit Awards platform is a longstanding tradition designed to recognize African fintech stakeholders for their actions in enabling the continent’s start-up ecosystem, accelerating innovation, and driving financial inclusion

By Sodeinde Temidayo David Leading fast-moving consumer goods company, Dangote Salt, has extended the closing date for the second edition of its Dangote Salt Art Challenge 2021 competition entries, opening up opportunities for more people who still want to partake in the competition to win the grand prize of N500,000. Dangote Salt had on Monday, June 28, 2021, in Lagos called for creative entries in the second edition of the contest themed Unleash Your Creativity. Submissions of applications started on Thursday, July 1, 2021, and the new closing date is Friday, August 13, 2021. The competition is open to Nigerians

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange shed 0.03 percent on Tuesday to reverse the gains recorded at the previous trading session. At the Monday’s (March 9) session, both the market capitalisation and index recorded a 2.04 percent appreciation, but yesterday, the market capitalisation fell marginally by N140 million to close at N508.11 billion in contrast to N508.25 billion it ended previously. Likewise, the NASD Unlisted Securities Index (NSI) decreased on Tuesday by 0.19 points to settle at 706.74 points against 706.93 points it recorded at the Monday’s trading day. In the same vein, the total number of shares

By Dipo Olowookere Last week, investors at the nation’s stock market traded 1.2 billion shares worth N14.1 billion in 17,980 deals, slightly lower than the 1.1 billion equities valued at N17.1 billion transacted 15,431 deals. But of this total traded volume, stocks in the financial services industry led the activity chart with 840.7 million units valued at N10.8 billion executed in 11,331 deals. With this, the sector contributed 73.30 percent and 76.45 percent to the total equity turnover volume and value respectively. Following were the conglomerates sector with 111.2 million shares worth N243.1 million in 963 deals and the ICT

By Modupe Gbadeyanka A foreign exchange (forex) trader based in Kano State, Mr Abubakar Ibrahim, has landed in a bowl of hot soup over his failure to keep to his words. Mr Ibrahim had promised to deliver a 30-35 per cent monthly return on investment (ROI) to an investor, who eventually gave him N7.6 million for a try. It was gathered that the money was given to the suspect through one of his agents, Mr Umar Kabir, and after the investment, the 30 to 35 per cent ROI was never delivered as promised. This prompted the investor to approach the

By Dipo Olowookere Shareholders of Zenith Bank Plc will receive an interim dividend of 30 kobo per share for the first half of 2020 ended June 30, the company has announced. In its financial statements released on Thursday, the firm said this will gulp N9.4 billion, the same amount paid in the same period of last year. A look at the results presented by the board showed that in the first six months of the year, Zenith Bank increased its gross earnings to N346.1 billion from N331.6 billion as interest income rose to N217.0 billion from N214.6 billion, with the