Eyowo Gets PSSP License, To Resume Operations After CBN Ban

By Aduragbemi Omiyale Despite the challenging operating environment characterised by the Naira redesign policy and the foreign exchange (FX) unification policy of the Central Bank of Nigeria (CBN), Zenith Bank Plc showed why it is one of the strongest lenders in the country. Analysis of its financial statements for the first six months of 2023 showed that its gross earnings surged by 139 per cent to N967.3 billion from the N404.8 billion achieved in the same period of last year. It was observed from the results filed to the Nigerian Exchange (NGX) Limited on Monday that this triple-digit growth in

By Aduragbemi Omiyale The chief executive of CardinalStone Finance, formerly CSAdvance, Mr Ayoola Adeola, said the company would deliver enhanced financial solutions and empower its customers with financial flexibility. Mr Adeola said this while commenting on the recent change of name of the organisation, done because it intends to offer a comprehensive range of financing solutions to a diversified clientele, including SME businesses and high-net-worth individuals. CardinalStone Finance is the subsidiary of CardinalStone Partners Limited. The firm said the transition marks a pivotal moment in the group’s pursuit of becoming a world-class financial services firm, catering to the evolving needs

By Modupe Gbadeyanka Last week, the United States Mission in Nigeria organised the annual US College and Career Fairs at the Ecobank Pan African Centre (EPAC) on Victoria Island, Lagos. The US Consul General, Mr Will Stevens, while speaking at the event, said that America remains a leading destination for international students, noting the United States offers students an unrivalled educational experience, flexibility, and diversity. “We are happy to provide Nigerian students who wish to study in the United States a unique opportunity to learn about the diversity of the programs offered at various U.S. educational institutions,” Mr Stevens said.

By Modupe Gbadeyanka Africa’s leading payment cards and digital tokens brand, Verve, has joined forces with a fast-rising digital bank, Moniepoint Microfinance Bank, to provide customers with cutting-edge financial solutions. Recall that recently, Moniepoint announced its foray into the retail banking segment, issuing debt cards to its customers. The financial technology (fintech) firm boasts over 1.5 million businesses using its terminals across Nigeria to serve 30 million banked Nigerians. To pave the way for enhanced access to financial services for Nigerians and bridge the gap between traditional banking and modern fintech innovations, both parties are collaborating. The partnership will give

By Modupe Gbadeyanka The management of AIICO Insurance Plc has disclosed that a meeting of its board of directors will take place on March 14, 2017. This information was contained in a statement signed by the company’s Secretary, Mr Donald Kanu, which was obtained by Business Post. It was explained in the statement that during the meeting, the board will “review and approve the Audited Financials for the period ended December 31, 2016 and also, dividend payment.” It was noted that any decision reached as it affects the Accounts approval and dividend payment for the year ended December 31 2016

By Modupe Gbadeyanka A public forum discussing foreign exchange policy of the Central Bank of Nigeria (CBN) was recently held and participants highlighted some of the issues that have caused the weakening of the Naira against the Dollar in recent times, Business Post has learnt. The event was held in partnership with the Nigeria Economic Summit Group (NESG), the British High Commission and the United Kingdom’s Department for International Development. At the programme, the effects of the forex policy on businesses in Nigeria were the main focus and it was agreed that a weaker Naira could create new opportunities for

By Adedapo Adesanya Oil fell to the lowest level in a week as the U.S.-China trade war escalated against the backdrop of swelling American crude inventories. On Thursday, the Brent Crude still traded below the $60 as the futures depreciated by $1.21 or 2.03 percent to sell for $58.27 per barrel, while the West Texas Intermediate (WTI) crude saw a decline of 63 Cent, equivalent to 1.14 percent to trade at $54.60. In the latest episode of the dispute between the world’s biggest economies, the Chinese government said it “has no choice but to take necessary measures to retaliate” against

By Dipo Olowookere Fidelity Bank Plc, in a clear demonstration of its resilience and stability, has announced an impressive financial result for the year-ended December 31, 2018. The performance which capped a remarkable year, showed strong growth in Gross Earnings, Profits and other key financial indicators. The top Nigerian lender which has become the clear leader among Tier 2 banks, posted a 4.8 percent growth in Gross Earnings from N180.2 billion to N188.9 billion whilst Profit Before Tax soared by 30.6 percent to N25.1 billion, when compared with the 19.2 billion it recorded in 2017. Profit After Tax grew by

By Dipo Olowookere The World Health Organisation (WHO) has commended the Nigerian government for the way it promptly responded to the recent outbreak of Lassa fever in the country. However, the body warned that government must not relax because it could surface again and people could be infected throughout the year, making continued efforts to control any new flare ups crucial. WHO noted that with six weeks of declining numbers and only a handful of confirmed cases reported in recent weeks, the critical phase of Nigeria’s largest-ever Lassa fever outbreak was under control. In the last reporting week, ending on

By Aduragbemi Omiyale On March 26, 2021, stakeholders in the finance industry in Africa will gather at the Mövenpick Ambassador Hotel, Accra, Ghana for the 6th edition of the prestigious InstinctBusiness Finance Innovation Awards (IBFIA). Previously known as the Ghana Finance Innovation Awards (GFIA), the awards scheme has rebranded into IBFIA to identify and reward excellence in the financial industry on an Africa-wide scale. The event, organised by InstinctWave, Africa’s premium business-to-business (B2B) event company, will reward success, innovations and various experts contributing to the smooth running of the financial services sector in the face of the global pandemic. IBFIA

By Adedapo Adesanya Oil prices rose on Monday after the world’s top exporter, Saudi Arabia, pledged to cut production by a further 1 million barrels per day from July. Consequently, Brent crude futures traded higher by 58 cents at $76.71 a barrel, as the US West Texas Intermediate (WTI) crude futures gained 41 cents to quote at $72.15 per barrel. The Saudi energy ministry said the kingdom’s output would drop to 9 million barrels per day in July from about 10 million barrels per day in May. The voluntary cut, Saudi Arabia’s biggest in years, is on top of a

By Aduragbemi Omiyale The outgoing year 2022 has been filled with many intrigues across the board, and in the cryptocurrency market, there were ups and downs. Personal finance experts at DollarGeek analysed Google searches for a collection of cryptocurrencies to see which were the most searched this year in the US and worldwide. From their analysis, Bitcoin was the most Googled cryptocurrency, coming top in the United States and worldwide, while Shiba Inu and Dogecoin occupied second and third in the US, though Dogecoin beat Shiba Inu on worldwide searches. It was observed that Bitcoin recorded 4,570,000 searches on average