FCMB Shifts AGM to Head Office

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 Aduragbemi Omiyale The popular Ajose Adeogun Street and Roundabout on Victoria Island, Lagos, is wearing a new look, thanks to Zenith Bank Plc, which designed the areas with beautiful Christmas decorations. The yearly ritual of the financial institution is a part of its Corporate Social Responsibility initiatives aimed at setting the tone for the Christmas and Yuletide seasons. Performing the Light-Up ceremony, the 17th of its kind recently, the chief executive of Zenith Bank, Mr Ebenezer Onyeagwu, expressed his delight in heralding the 2023 Yuletide season by lighting up the iconic Ajose Adeogun Street and Roundabout. He urged everyone

By Adedapo Adesanya The Central Bank of Nigeria (CBN) has directed banks across the country to continue issuing and accepting old as well as the redesigned Naira banknotes following the order of the Supreme Court. Business Post reported on Wednesday morning that the apex court granted the prayer of the Minister of Justice and Attorney-General of the Federation to extend the use of old Naira banknotes ad infinitum, scrapping a previous deadline of December 31. In a statement after the judgement, the central bank “directed all its branches to continue to issue and accept all denominations of Nigerian banknotes, old

By Adedapo Adesanya Klasha, a leading global cross-border payments company, has been granted a Money Services Business (MSB) license by the Financial Crimes Enforcement Network (FinCEN) to operate in the world’s largest economy, the United States. This license authorizes Klasha to operate as a currency exchange and money transmitter in the US. With this MSB license, Klasha can now offer its innovative cross-border payment solutions and financial services to businesses in the United States that want to send and accept cross-border payments from Africa and carry out foreign exchange services and international money transfers with ease and security. “We are

By Dipo Olowookere Wife of the President, Mrs Aisha Buhari, has restated her resolve to contribute to the reduction of the level of poverty in the country and ensuring self-reliance among Nigerian women. She was flagging-off a Women Empowerment Programme of Future Assured Programme, organized in partnership with the National Directorate of Employment (NDE) at Uyo, Akwa Ibom State, Mrs Buhari, while addressing a massive crowd said 11,600 women and youth would benefit from the programme and 1,500 women and youths would be trained on vocational skills, while 1,000 others undergoing training would be given starter packs and a sum

By Dipo Olowookere Treasury bills worth N823.5 billion would be offered for sale to investors in the first quarter of 2019, the Central Bank of Nigeria (CBN) has said. In the Nigerian Treasury Bills Issue Programme First Quarter 2019 released by the central bank, a total of N985.9 billion worth of the debt instruments will mature in the period under review. Business Post reports that the apex bank has already conducted the first sale of T-bills via primary market auction. This exercise was conducted on Wednesday, January 2, 2019 and it was oversubscribed by market players. In the calendar released

By Dipo Olowookere 2016 Global Economic Summary The global economy remained sluggish in 2016 with a forecast of 3.1% in global GDP growth according to the International Monetary Fund (IMF), compared to 3.4% originally projected, and 3.2%1 achieved in 2015. Uncertainty took centre stage during the year, as global economies grappled with unpredictable geopolitical developments, ranging from Brexit referendum in June to the result of US presidential elections in November. The vast disparity between forecasted outcomes and actual results left several emerging and frontier economies, and their respective capital markets, in peril as the movement of international capital stalled in

By Adedapo Adesanya Mustard Insights, a Nigerian-based data visualization company, is starting the year 2022 on a high note as it raised an undisclosed amount of capital in a pre-seed round of funding. The company, which was founded in January 2021, currently creates data visualizations and disseminates them to digital audiences. Its objective is to ensure that its users are presented with information that can aid diverse levels of decision making. Its digital platform which is set to launch in March is to serve as a repository of African data across different economic, industry and social datasets. The amount was

By Dipo Olowookere Thirteen Primary Dealers/Market Makers have been licenced by the Debt Management Office (DMO) for the Federal Government of Nigeria (FGN) Bonds. A circular released by the debt office disclosed that the 13 companies were given the licence with effect from August 1, 2018. According to the list, the 13 companies ate Access Bank Plc, Citibank Nigeria Ltd, Coronation Merchant Bank Ltd, Ecobank Nigeria Ltd, FBNQuest Merchant Bank Ltd, First Bank of Nigeria Ltd, First City Monument Bank (FCMB) Plc, FSDH Merchant Bank Ltd, Guaranty Trust Bank (GTBank) Plc, Stanbic IBTC Bank Plc, Standard Chartered Bank Nigeria Ltd,

By Modupe Gbadeyanka The Nigerian Stock Exchange (NSE) bounced back on Friday from a back-to-back loss to finish the week on a high note. The capital market chalked up N2.147 billion, leaving the market capitalisation at N9.569 trillion at the close of trading today compared to N9.567 trillion it finished the previous day. In the same vein, the all-share index grew by 6.25 points or 0.02 percent to close at 27,861.03 points on Friday against 27,854.78 it ended on Thursday. At the market today, a total of 220.851 million shares were exchanged in 2,381 deals valued at N1.533 billion in

ADDRESS BY HIS EXCELLENCY, MUHAMMADU BUHARI, PRESIDENT AND COMMANDER-IN-CHIEF OF THE ARMED FORCES OF THE FEDERAL REPUBLIC OF NIGERIA AT THE MINISTERIAL RETREAT ON THE ECONOMY AND THE BUDGET AT THE STATE HOUSE BANQUET HALL, ABUJA, SEPTEMBER 15, 2016. PROTOCOLS: I am delighted to be here with you at this Ministerial Retreat on the Economy and the Budget.  The theme of the Retreat which is “Building Inter-ministerial Synergy for Effective Planning and Budgeting in Nigeria” is very apt and timely, especially as we are in the process of developing the 2017 Budget. Over the years, there has been a mismatch

By Sodeinde Temidayo David Nigerian multinational commercial bank, Access Bank plc, has hammered the necessity of *901*911#, an Unstructured Supplementary Service Data (USSD) code self-service function, to protect customers and curb fraudulent acts. This new initiative by the bank is to promote its commitment to safeguarding the investments and savings of customers. The *901*911# USSD code is a solution that allows customers to act swiftly to prevent fraudulent activities on their accounts, especially fraudulent withdrawals. The service allows customers to deactivate their USSD profile once their mobile devices get lost or stolen, using any alternative phone number, giving account holders