Banking
FBN Holdings Pays 25 Kobo Dividend, Declares N40b Profit for 2017
By Dipo Olowookere
The board of FBN Holdings Plc has proposed the payment of 25 kobo per share cash dividend to shareholders of the company.
The amount is for the year ended December 31, 2017 and is 5 kobo higher than what was paid in 2016 financial year end, 20 kobo per share.
Business Post reports that the dividend payment is coming after the financial institution released its audited financial statements for 2017 financial year a moment ago.
In the results, FBN Holdings recorded a 2.3 percent growth in its gross earnings, closing at N595.4 billion in 2017 against N581.8 billion in 2016.
Furthermore, the interest income was N469.6 billion last year compared with N405.3 billion two years ago, representing 15.9 percent growth, while the net interest income increased by 8.9 percent to N331.5 billion from N304.4 billion.
For the impairment charge for credit losses, it was N150.4 billion in 2017 in contrast to N226 billion in 2016, while the net interest income after impairment charge for credit losses finished at N181.1 billion as at December 31, 2017 versus N78.4 billion as at December 31, 2016, showing a significant rise by 131 percent.
For the net insurance premium revenue, it was N10.2 billion in 2017 compared with N8.4 billion in 2016, while the fees and commission income was N74.5 billion against N71.4 a year earlier.
Business Post reports further that in 2017, the net gains on foreign exchange made by FBN Holdings depreciated by 76.4 percent to N21.1 billion from N89.1 billion in 2016.
Furthermore, the operating expenses stood at negative N132.5 billion last year in contrast to negative N120 billion two years ago, while the operating profit improved by 145.8 percent in 2017 to N56.4 billion from N22.9 billion.
The profit before tax for the period under review was N56.8 billion versus N22.9 billion in corresponding period of 2016, while the profit after tax stood at N40 billion last year compared with N12.2 billion two years ago, representing 226.8 percent growth during the period.
In 2017, FBN Holdings grew its total assets by 10.6 percent to N5.2 trillion from N4.7 trillion in 2016.
However, its total liabilities went up last year by 9.7 percent to N4.6 trillion from N4.2 trillion two years ago, while the shareholders’ fund closed at N678.2 billion as at December 31, 2017, against N582.6 billion as at December 31, 2016, indicating an improvement by 16.4 percent.
As at the time of filing this report, the share price of FBN Holdings has lost 5.22 percent, trading at N12.70k per share after closing at N12.75k per share on Tuesday.
Banking
Applications Open for GTCO ‘Take on Squad’ Hackathon 3.0
By Dipo Olowookere
Tech enthusiasts interested in participating in the Take on Squad Hackathon, organised by Guaranty Trust Holding Company (GTCO) Plc, can now enter the contest via the official portal at https://squadco.com/hackathon.
The programme enters its third edition in 2026, and the theme for this year is Smart Systems: The Intelligent Economy, according to a statement issued by the organisers.
The hackathon brings together developers, designers and entrepreneurs across Nigeria in a collaborative environment to build practical solutions across key sectors, including financial services, healthcare, commerce and digital inclusion.
Participants are challenged to design and build intelligent, data-driven solutions that transform how communities engage with money.
It is part of the organisation’s commitment to fostering innovation, empowering talent, and supporting the development of technology-driven solutions that address real-world challenges across Africa.
“Today’s dynamic, digitally driven world demands continuous innovation, which is shaping how economies grow, how businesses scale, and how societies evolve.
“Through Take on Squad Hackathon, we are deliberately investing in the ideas and talent that will define the future.
“Our objective is not simply to encourage innovation, but to enable its translation into scalable solutions that deliver real and measurable impact.
“This reflects GTCO’s role as a financial services platform that connects capital, capability, and creativity to drive sustainable progress,” the Managing Director of HabariPay, Ms Eduofon Japhet, stated.
The social coding event remains a cornerstone of HabariPay’s mission to foster creativity and problem-solving among emerging tech talents. Competing teams will leverage Squad’s advanced APIs to create scalable digital tools that address everyday challenges faced by businesses and individuals.
Through initiatives such as this, GTCO continues to position itself at the intersection of finance, technology and enterprise, actively shaping the future of digital transformation in Africa.
Banking
Easter: Ecobank Assures Customers Uninterrupted Banking Services
By Dipo Olowookere
Banking services will not be interrupted throughout the Easter public holidays, from Friday, April 3, to Monday, April 6, 2026, for any reason, Ecobank Nigeria has assured its customers.
In a message over the weekend, the member of Africa’s leading pan-African banking group, Ecobank Transnational Incorporated, said customers would continue to enjoy quality service delivery during the period.
It noted that its secure and robust digital platforms would remain fully operational to support financial activities during the festive period.
All digital channels, including the Ecobank Mobile App, Ecobank Business App, USSD *326#, Ecobank Online, OmniPlus, Omnilite, EcobankPay, Ecobank Cards, ATMs, PoS terminals, and over 35,000 Ecobank Xpress Point agent locations nationwide, will remain accessible throughout the holiday, the financial institution further said, urging customers to conveniently conduct transactions at any time using this wide range of digital solutions.
Ecobank customers were encouraged to maximise the bank’s alternative channels for transfers, bill payments, airtime purchases, card services, and account management.
They were also advised to stay vigilant by shopping only on trusted websites; avoiding the sharing of PINs, passwords, and one-time passwords (OTPs); refraining from banking on public Wi-Fi networks; being cautious of urgent or emotionally charged messages; and regularly monitoring their account activity.
“Customers will continue to enjoy a full bouquet of services during the holiday, including local and international funds transfers, bill payments, airtime top-ups, merchant payments, balance enquiries, account statements, and cardless cash withdrawals via ATMs,” the Head of Products & Analytics, Consumer & Commercial Banking at Ecobank Nigeria, Mr Victor Yalokwu, stated.
“We understand that festive seasons come with increased financial activity, and our priority is to ensure our customers enjoy fast, reliable, and secure banking wherever they are.
“Our digital channels are designed to support uninterrupted transactions, and we have strengthened our systems to guarantee optimal performance throughout the Easter break,” he added.
Mr Yalokwu noted that, “Ecobank remains committed to providing innovative financial solutions and exceptional customer service. We wish all our customers and partners a peaceful and joyful Easter celebration.”
Banking
Polaris Bank to Limit Access to VULTe for Four Days
By Dipo Olowookere
Customers may have difficulty accessing the digital platform of Polaris Bank, known as VULTe, during the Easter holidays from Friday, April 3, to Monday, April 6, 2026.
This is because the financial institution is carrying out system maintenance on the platform in its effort to ensure users enjoy a better banking experience.
In a notice over the weekend, the lender said “access to VULTe may be limited,” but it provided an alternative, which is the PolarisXperience.
Polaris Bank, which expressed regret over “any inconvenience” this action may cause its customers, said the “scheduled system maintenance” would happen from 10 pm to 8 am daily, promising that normal service would return after the maintenance.
“In continuation of our commitment to delivering a seamless and improved banking experience, we will be conducting a scheduled system maintenance during the Easter holidays.
“During this period, access to VULTe may be limited. We have provided an alternative channel, PolarisXperience:
“Please go to our website to onboard or use it as an existing user. You can also use this link: (https://elogin.polarisbanklimited.com).
“We regret any inconvenience and appreciate your understanding. Normal service will resume after the maintenance,” parts of the notice seen by Business Post read.
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