FCMB Grows 2019 Profit to N17.7bn, Earnings to N186.7bn

By Modupe Gbadeyanka A partnership for the deployment of a patronage reward product has been entered into between Unity Bank Plc and Cashtoken, a cash reward-as-a-service company that operates a loyalty programme designed to power customer engagement and improve customer satisfaction. This collaboration will see the bank’s customers winning millions of Naira in cash rewards and guaranteed instant cashback. A statement issued by Unity Bank said this scheme provides an opportunity to migrate old and new customers to a platform that will continually create exciting rewards and appreciation for loyalty. It said this initiative would not only reward existing customers

By Modupe Gbadeyanka Access Bank Plc has expressed its determination to support initiatives that promote knowledge, integrity, and the enduring legacy of excellence in the legal profession. The chief executive of Access Holdings, the parent firm of the lender, Mr Herbert Wigwe, while speaking at the launch of a book to honour Justice Amina Adamu Augie on Tuesday, November 28, 2023, said the financial institution has a strong affinity for the preservation and advancement of country’s judicial heritage. “We are proud to support the launch of Wisdom and Integrity: The Legacy of Honourable Justice Amina Adamu Augie JSC CON Through

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

Sterling Bank Limited’s cutting-edge investment platform, Doubble, has been upgraded with new features aimed at improving investment returns for existing and new customers. With various flexible naira and dollar investment options, including money market offerings with returns higher than your bank’s returns on savings. The digital savings and investment platform provides a seamless avenue for individuals to build wealth. Users are provided with a guaranteed income stream and fixed growth over a set period, as well as a hedge against market volatility, the ability to secure loans against account balances, and the convenience of transferring the annuity to a spouse

By Dipo Olowookere Governor Abdulfatah Ahmed of Kwara State has expressed his administrations readiness to set up an agency to manage the State health insurance scheme. The Governor made this known when he received Professor Khama Rogo, Lead Health Specialist and Head of the World Bank Group’s Health in Africa Initiative and his team at the government house in Ilorin on Monday. While expressing delight that the health insurance law has been passed, Mr Ahmed said a strong agency will be setup with adequate personnel provide strong healthcare service delivery and drive health sector funding away from supply end financing.

By Dipo Olowookere The recently released 82 out of the 0ver 200 school girls kidnapped in 2014 by members of the Islamist group called Boko Haram have made their way to Abuja, the seat of power to meet with President Muhammadu Buhari. The release of the girls was announced on Saturday by the Presidency via a statement issued by Mr Garba Shehu, the Senior Special Assistant to President Muhammadu Buhari. The girls looked devastated after spending over three years in captivity. Below are few pictures of the freed girls.

By Dipo Olowokere The naira was sold at the parallel market for 440 per dollar on Sunday, as the lingering foreign exchange scarcity increased to a new level. The local currency, which closed at 436/dollar on Thursday, eased to 435 in the early hours of Friday. It closed at 439/dollar. The naira had closed at 428 to the greenback on Wednesday, down from 424 on Tuesday, as lingering foreign exchange shortage weighed on the economy. The latest declines in the naira value started on Wednesday, a day after the Central Bank of Nigeria’s Monetary Policy Committee retained the benchmark lending

By Modupe Gbadeyanka Some outstanding customers and members of staff of Unity Bank Plc would be rewarded by the company as part of activities lined up for the week-long Customer Service Week. “We celebrate our frontline teams for strongly and meaningfully reinforcing service excellence and on this score, our bank does not take for granted your choice to bank with us as we understand that choosing us is because of our shared values, commitment to excellence and exceptional service to you at all times. “As we look to the future, we pledge to remain customer-centric, embracing innovation to serve you

By Adedapo Adesanya Billionaire and founder of the Tony Elumelu Foundation, Mr Tony Elumelu has urged the Japanese government to invest 5 percent of its $50 billion commitment to Africa in entrepreneurs saying it is a clear-cut model for ensuring sustainable development in Africa. The banker and Chairman of United Bank for Africa (UBA) noted this at the just-concluded Tokyo International Conference on African Development (TICAD) in Yokohama, Japan. “If we invested just 5 percent in Africa’s new generation of entrepreneurs, following my Foundation’s robust, proven model of getting capital directly to those best placed to catalyse growth and create

By Aduragbemi Omiyale The immediate past Director of Google West Africa, Ms Juliet Ehimuan, has been appointed to the board of directors of Zenith Bank Plc. Ms Ehimuan, who is also the founder and chief executive of Beyond Limits, will serve on the board of the tier-1 financial institution as a non-executive director. A statement from the lender on Tuesday disclosed that the appointment of Ms Ehimuan, which has been confirmed by the Central Bank of Nigeria (CBN), will take effect from August 29, 2023. In a statement to the Nigerian Exchange (NGX) Limited, Zenith Bank said the appointee has

By Adedapo Adesanya As more efforts continue to enter into making Africa a stronghold for energy, problems still persist, with over 900 million people on the continent lacking access to clean cooking solutions. Ahead of the African Energy Week (AEW) 2022 next month, the African Energy Chamber (AEC) has reiterated that strengthening the supply and distribution of products such as liquefied petroleum gas (LPG) is critical. The AEC Executive Chairman, Mr NJ Ayuk said, “In 2022, over 900 million people lack access to clean cooking solutions. This is a crisis, one that directly affects the African population and will continue

By Adedapo Adesanya The oil market slid more than one per cent to a two-week low on Thursday on increased worries the US Federal Reserve may go too far with its interest rate hikes to control inflation. Brent futures fell $1.07 or 1.3 per cent to settle at $81.59 a barrel, as the US West Texas Intermediate (WTI) futures dropped 94 cents or 1.2 per cent to settle at $75.72 per barrel. In a short but impactful speech, the US central bank chief, Mr Jerome Powell, set out a new paradigm for how the Fed views its policy path, one