Ecobank Woos Schools With Attractive Incentives for Fees Collection

By Dipo Olowookere The acquisition of the United Kingdom subsidiary of Union Bank of Nigeria Plc, Union Bank UK, by Fidelity Bank Plc, has been completed. Fidelity Bank is a tier-2 financial institution in Nigeria, intending to move to the tier-1 category. Over a year ago, the lender announced that it was planning to take total control of Union Bank UK as part of its growth strategy. The Central Bank of Nigeria (CBN), a body which regulates the country’s banking industry, authorised Fidelity Bank to go ahead with the deal. In a disclosure on Wednesday, the bank said it has

By Aduragbemi Omiyale The forthcoming trade expo organised by Fidelity Bank Plc has received the endorsement of the Mayor of Houston Texas, Mr Sylvester Turner. Mr Turner, in a short video, highlighted the several side attractions scheduled for FITCC Houston and encouraged businesses to take advantage of the expo to expand their businesses beyond borders. He described the event as “A catalyst to support bilateral trade between Nigeria and Houston; and an opportunity for the Houston community and the diaspora to explore emerging trends, forge new partnerships and unlock new possibilities.” The Nigerian lender will, on Tuesday, October 24 and

By Gbolahan Oluyemi Websites create an online presence for businesses and serve as a valuable tool to enhance e-commerce, customer engagement, branding, marketing, and lead generation. A website provides the bank customers with information on branch location, the composition of the bank’s management team, product features, forms, and terms and conditions of service. Aside from the branding and customer information, banks are legally required to publish certain information on their website.  This article considers some of the information banks are mandated by law to publish on their respective websites. A bank is required to publish its foreign exchange, lending, and

By Dipo Olowookere The Chairman of the Board of Directors of Citibank Nigeria, Mr Yemi Cardoso, has been nominated to serve as the new Governor of the Central Bank of Nigeria (CBN). The renowned stockbroker and investment banker was picked for the position by President Bola Tinubu, according to a statement issued on Friday by the Special Adviser to the President on Media and Publicity, Mr Ajuri Ngelale. He would be screened by the Senate, and on confirmation; he will take over from the acting CBN Governor, Mr Folashodun Shonubi, for a term of five years at the first instance.

By Okechukwu Keshi Ukegbu Development partnerships are very essential in every government. This is because of the fact that government cannot do it alone but will always require collaborations with development partners. Sometimes, government provides enabling environment while the partners provide technical and funding supports for a particular project. Perhaps, Abia State Government may have considered the essential roles development partners play in developing a place when it forged a partnership with Google for Google SME Community Launch. This venture is a platform that provides Google ICT backbone to support small businesses. This will manifest through giving SMEs global visibility

By Adedapo Adesanya Amazon Web Services (AWS) has made its physical presence in Nigeria, with the opening of its first office in Lagos. This was confirmed by Ms Amrote Abdella, the firm’s regional manager of sub-Saharan Africa, on Tuesday, saying the office was to reinforce its commitment to Africa. “We are excited to open our first AWS office in Nigeria,” she said. “Lagos offers a highly skilled and creative talent pool, and the area is home to many fast-growing startups and notable Nigerian enterprises leading the way in digital innovation,” she said. Ms Abdella said the new Lagos office was

By Dipo Olowookere On Wednesday, the Central Bank of Nigeria (CBN) and the Debt Management Office (DMO) conducted the sale of fresh treasury bills via the primary market auction. During the exercise, a total of N136.31 billion worth T-bills were offered and sold to market players amidst subscriptions worth N213.37 billion received. Business Post observed that while rates on the 91-day and 182-day bills were retained at the previous levels, the rate for the 364-day bills were raised by 0.45 percent to 13.50 percent from 13.05 percent at the last PMA. Subscriptions worth N202.34 billion were received from investors for

By Modupe Gbadeyanka A new report released on Thursday, March 2, 2017, by FSDH Research has revealed that the February 2017 inflation rate (year-on-year) is expected to drop to 16.95 percent from 18.72 percent recorded in the month of January 2017. According to FSDH Research, the drop in inflation rate is expected after 15 months of consecutive increase and to “come mainly as a result of base effect.” On March 15, 2017, the National Bureau of Statistics (NBS) is expected to release the inflation rate for the month of February 2017. It was disclosed that the monthly Food Price Index

By Adedapo Adesanya The Nigerian National Petroleum Company (NNPC) Limited has assured Nigerians that it would do all in its power to make sure international oil companies (IOCs) do not abandon environmental damages in their respective areas of operations as they pursue their energy transition agendas. The Chief Executive Officer of NNPC, Mr Mele Kyari, while speaking on the sideline of the just-concluded 2022 Nigerian International Energy Summit (NIES) in Abuja, explained that there was a need for oil companies operating in Nigeria to add value to the environment by keeping it clean. “The federal government will make sure that

By Dipo Olowookere Treasury bills valued at N124.88 billion would be reissued by the Central Bank of Nigeria (CBN) on Wednesday, October 14, 2020 (today). Business Post reports that the debt instruments to be offered for sale to investors via the primary market auction (PMA) are maturing T-bills. They will be reissued across three tenors by the apex bank at the value of N8.85 billion, N3.50 billion and N92.54 billion for the 91-day, 182-day, and 364-day maturities respectively. As usual, the bills are expected to be oversubscribed by investors, who have continued to show a strong appetite for the segment

By Adedapo Adesanya The Chief Executive Officer (CEO) of the United Bank for Africa (UBA) Plc branch in the United States, Ms Sola Yomi-Ajayi, has been appointed to the Sub-Saharan Africa Advisory Committee of the Export-Import Bank of the United States (US EXIM) for 2020/2021. The Nigerian is the sole representative of an African institution in the team and UBA has described this as a laudable achievement, being the only Sub-Saharan African deposit-taking institution regulated in the United States. The lender provides a unique portfolio of banking solutions to corporates, governments, multilaterals, and development organizations transacting with Africa. Established by

By Ebitonye Akpodigha Contrary to expectations from all quarters, the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has kept all key indicators intact. Minister of Finance, Mrs Kemi Adeosun, had urged the CBN to lower the interest rates so as to boost domestic borrowing by the government. She had explained in an interview on a TV programme that lower interest rates would allow the government to take more local loans without increasing the burden of debt servicing. But at the end of the two-day MPC meeting in Abuja, the CBN, through its Governor, Mr Godwin Emefiele,