Euromoney Awards: GTBank Emerges Best Bank in Africa, Nigeria

By Modupe Gbadeyanka Like a golden fish, which has no hiding place, Stanbic IBTC Capital, the investment banking subsidiary of Stanbic IBTC Holdings, was the cynosure of all eyes at the recently concluded Association of Issuing Houses of Nigeria (AIHN) Investment Banking Dinner and Awards ceremony. At the event held in Lagos, the company went home with five awards, named as the Best Investment Bank in Nigeria, the Equity Deal of 2022, the Best Equity House of 2022, the Best Corporate Bond House 2022 and the M&A Deal of the Year 2022. The recognitions spread across Stanbic IBTC Capital’s Advisory,

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 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

Rising global inflation has been the dominant macroeconomic conversation in 2022, significantly influencing investment decisions. The pressures on global inflation have largely been exacerbated by the impact of the Russia-Ukraine war—and associated sanctions—which have pushed energy and commodity prices to multi-year highs. In Nigeria, for instance, inflation reached a 15-year height of 20.5% in August 2022, reflecting a passthrough from global inflation dynamics and worsening domestic insecurity. These pressures have not only strained consumer wallets and pushed more Nigerians below the poverty line but have also eroded the value of investments. The latest inflation figure suggests that to maintain the

By Dipo Olowookere **As Court Okays Scheme of Arrangement The scheme of arrangement for the demutualisation of the Nigerian Stock Exchange (NSE) has been sanctioned by a Federal High Court sitting in Lagos. This development gives the stock exchange the authority to proceed with its journey of being a publicly owned organisation. In March 2017, members of the NSE had approved the demutualisation scheme of the exchange at an Extraordinary General Meeting (EGM) held in Lagos. This was followed by the signing of the demutualisation of the Nigerian Stock Exchange Bill into law in August 2018 and in December 2019,

By Adedapo Adesanya Ahead of the May 29 inauguration, the Director-General of the World Trade Organisation (WTO), Mrs Ngozi Okonjo-Iweala, has advised incoming governors to stop depending on crude oil and diversify the sources of revenue in their respective states. She spoke on Monday during an induction organised for elected governors in Abuja, two weeks before the inauguration. According to her, states with over-dependence on the monthly Federation Account Allocation Committee (FAAC) would be badly hit because there have been erratic outcomes from allocations over the years. She said, “We need to start preparing now for a time when our

By Jerome-Mario Utomi To help douse the swift and conflicting reactions, utter confusion and frustration raging in the minds of the Niger Deltans and other stakeholders, occasioned by the inexplicable and unexpected provisions of the recently passed Petroleum Industry Bill (PIB), I sought a telephone conversation with Comrade Joseph Evah, Coordinator, Ijaw Monitoring Group. That was a few days ago. Essentially, on that day, at that time and in that place, I listened to him with rapt attention as his frankness made it very easy for me to be at ease in his presence. After ‘watching’ him use analysis and

By Dipo Olowookere The mother of an award-winning music producer, Don Jazzy, has died. The beat-maker announced the death of his mum in a post on one of his social media pages, Instagram, on Friday night. He disclosed that the woman died after battling cancer, though he was silent on how long his mother had been fighting to overcome the terminal illness and the part of the body system. In the post, the Delta State-born showbiz guru expressed his sadness over the loss, describing his late mum as “my supporter and backbone.” Don Jazzy, who established Mavin Records after he

By Dipo Olowookere The absence of an Open Market Operations (OMO) on Wednesday caused a demand across the entire yield curve of treasury bills. Also, the T-bills market traded on a bullish note as a result of ample liquidity in the money market during the trading day. According to Zedcrest Research, demand was more skewed to the longer end of the curve as investor cherry picked maturities with decent yields. The Central Bank of Nigeria (CBN) is anticipated to float an OMO auction on Thursday to counter inflows from the expected monthly statutory disbursements and OMO T-bills maturity of N46

By Adedapo Adesanya Trading activities on the floor of the NASD Over-the-Counter (OTC) Securities Exchange closed bullish on Wednesday, June 14. Data revealed that unlisted equities appreciated by 0.18 per cent in the midweek, as the share prices of three companies on the platform gained weight at the close of transactions. 11 Plc gained N12.66 to move up to N144.00 per unit from N131.34 per unit, FrieslandCampina Wamco Nigeria Plc rose by N1.62 to close at N69.76 per share compared with the previous day’s N71.38 per share, and Geo-Fluids Plc improved by 23 Kobo to settle at N3.00 per unit

By Dipo Olowookere As a show of support for the growth of African culture and heritage, the Ooni of Ife, Oba Enitan Adeyeye Ogunwusi Ojaja II, has thrown his full weight behind the maiden edition of Hollywood and African Prestigious Awards (HAPAwards). The paramount Yoruba traditional ruler is set to attend the awards ceremony, which is scheduled for November 18 at the Legendary Alex Theater in Glendale, California. The event would be used to honour American and African community leaders, international political figures, dignitaries and celebrities in the movies, music and comedy categories. Organisers of the ceremony said this year’s