Ecobank Boss Heads CIBN Team for 2020 Conference

By Adedapo Adesanya Nigerian bank, Union Bank, alongside energy company, Riverside LNG of Nigeria, have signed different agreements that involve a $500 million renewable energy pact and gas export between Nigerian and German entities. Union Bank and DWS Group signed a pact on cooperation in renewable energy while Riverside LNG of Nigeria and Johannes Schuetze Energy Import AG of Germany on the gas export partnership. President Bola Tinubu witnessed the signing of the two Memoranda of Understanding (MoU) in Berlin, Germany, at the 10th German-Nigerian Business Forum, according to Mr Ajuri Ngelale, the President’s Special Adviser on Media and Publicity.

By Modupe Gbadeyanka For supporting Micro, Small and Medium-scale Enterprises (MSMEs) with credit facilities, Ecobank Nigeria Limited has won big at the 2023 Development Bank of Nigeria (DBN) Annual Service Ambassador Awards ceremony held in Lagos. The DBN Ambassadors Programme was designed to increase the sense of ownership among participating financial institutions, build capacity, increase on-lending small businesses and ultimately deepen financial inclusion in Nigeria. Ecobank is a participating financial institution in partnership with DBN to provide credit facilities, credit guarantees and technical support to MSMEs. It got an award for Platinum Service Ambassador; Bank with the Highest Impact on

By Adedapo Adesanya The Central Bank of Nigeria (CBN) has directed banks across the country to continue issuing and accepting old as well as the redesigned Naira banknotes following the order of the Supreme Court. Business Post reported on Wednesday morning that the apex court granted the prayer of the Minister of Justice and Attorney-General of the Federation to extend the use of old Naira banknotes ad infinitum, scrapping a previous deadline of December 31. In a statement after the judgement, the central bank “directed all its branches to continue to issue and accept all denominations of Nigerian banknotes, old

By Modupe Gbadeyanka A cutting-edge German-Nigerian financial technology (fintech) firm, BFREE, plans to put down $40 million to acquire some distressed loan portfolios in Union Bank of Nigeria. A statement from the Nigerian lender said both parties signed a Memorandum of Understanding (MOU) in Berlin on November 21, 2023, at the German-Nigerian Business Forum. It was disclosed that BFREE would partner with its international financing partners to refinance bad loans from Union Bank, particularly those delayed in repayment or already written off. Union Bank expressed its optimism that this strategic partnership with BFREE would not only bolster the bank’s financial

By Modupe Gbadeyanka A total of 33 graduate members have undergone an online Automated Trading System (ATS) Certification Training. The ATS certification programme is conducted for those who desire to become authorized dealing clerks (stockbroker) of the exchange. The programme is an intensive training organised by the NSE for individuals who have passed the Chartered Institute of Stockbrokers (CIS) qualification examination. It is part of the mandatory, eligibility and admission procedure for any individual who wishes to become an authorized dealer. The virtual training was the first to be conducted by the NSE as a result of the restrictions placed

By Modupe Gbadeyanka The two-horse race between Racing and Cowries heated up earlier in the day when Racing managed a 7-3 win over Lagos Police in a tough encounter placing them top of the table at 18 points ahead of Cowrie’s 17 points. Lagos Police recorded the first points of the match with a penalty kick through the boots of Scrumhalf; Aminu Adeleye in the 25 minute. The men in black defended well despite various probing by Racing until Eight Man; Adebambo Remilekum charged down a kick by hesitant Police full back; Abubakar Tahiru and then touched down for a

By Dipo Olowookere The Nigerian Exchange (NGX) Limited depreciated by 2.28 per cent last week as a result of profit-taking by investors ahead of the Easter break. The bourse operated from Monday to Thursday and shut its doors on Friday for the Good Friday holiday, with the All-Share Index (ASI) and the market capitalisation closing lower at 52,994.13 points and N28.869 trillion, respectively. Similarly, all other indices finished lower with the exception of insurance, which appreciated by 2.19 per cent, while the ASeM and growth indices closed flat. In the week, 1.054 billion shares worth N10.050 billion were traded in

By Ebitonye Akpodigha Minister of Information and Culture, Mr Lai Mohammed, has reacted to a story published by The Economist, claiming that the recently launched ‘Change Begins With Me’ campaign by the Federal Government was to cage Nigerians. Mr Mohammed said the article published in the paper’s print edition of September 24, 2016, entitled: ‘Nigeria’s war against indiscipline, Behave or be whipped’, was “loaded with innuendos and decidedly pejorative at best, and downright racist at worst.” The Minister, in his reaction, further said The Economist, in its rush to discredit the ‘Change Begins With Me’ campaign, fell below its own

The Forex market is a massive global playground where people trade currencies, and it’s buzzing with activity every day, reaching over $6 trillion in daily trades! Now, if you’re in Italy and thinking of diving into this world, there are rules set by the Italian Securities and Exchange Commission (CONSOB) to keep things fair and transparent. Experts have sifted through the details and found the best Forex brokers in Italy. Forex trading in Italy: an easy-to-understand guide by analysts Forex trading in Italy isn’t just a trend; it’s a carefully monitored activity. The Italian watchdog, CONSOB, keeps a close eye

By Dipo Olowookere Despite the foreign exchange (FX) instability in Nigeria, slow economic growth, rising inflation, and a global recession on the horizon, VFD Group recorded an impressive performance in the third quarter of 2022. Details of the company’s financial results showed that in the period under review, the gross earnings improved by 43 per cent to N10.6 billion from the N7.4 billion achieved in the third quarter of 2021. According to the Executive Director of Finance of the firm, Mr Folajimi Adeleye, this double-digit growth in the income generated in Q3 of 2022 “can be attributed to growth in

By Adedapo Adesanya The National Agency for Food and Drug Administration and Control (NAFDAC) has alerted Nigerians to an organic apple and blackcurrant juice from Australia, warning them against the consumption of the drink. The Director-General of NAFDAC, Mrs Moji Adeyeye, said the products have been certified harmful for human consumption and should not be consumed. “The Centre for Food Safety (CFS) of Hong Kong’s Food and Environmental Hygiene Department has warned against the consumption of Pure Tassie Organic Apple and Blackcurrant Juice originating from Australia. “This was due to (an) unacceptable level of patulin (a mycotoxin) which had exceeded

Leading consumer finance company, Zedvance, has restated its commitment to provide support for quality education in Nigeria; urging parents, guardians, teachers and proprietors to take advantage of its Back-to-School offerings. According to the Chief Operating Officer of Zedvance, Jerry Osagie, the company is providing parents, guardians and teachers easy access to loans ranging between N50,000 and N5million with a flexible repayment regime of up to 18months at very competitive rates. “We are committed to promoting of[JO1]  quality education and financial inclusion in Nigeria. As a customer-centric brand, we pay attention to the yearnings and aspirations of our customers. Based on