Fidelity Bank Begins Saturday Banking for Cash Deposits

By Adedapo Adesanya  The Central Bank of Nigeria (CBN) would likely direct banks to increase their capital base in the coming months as part of a new policy push towards a $1 trillion Nigerian economy. The Governor of the apex bank, Mr Olayemi Cardoso, said this while delivering his keynote address at the 58th Annual Chartered Institute of Bankers of Nigeria (CIBN) dinner in Lagos on Friday. The new CBN chief used the event to unveil the bank’s monetary policy thrust and economic outlook for 2024, following the cancellation of the Monetary Policy Committee (MPC) meeting for the quarter. “We

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 Adedapo Adesanya Nigerian bank, Union Bank, alongside energy company, Riverside LNG of Nigeria, have signed different agreements that involve a $500 million renewable energy pact and gas export between Nigerian and German entities. Union Bank and DWS Group signed a pact on cooperation in renewable energy while Riverside LNG of Nigeria and Johannes Schuetze Energy Import AG of Germany on the gas export partnership. President Bola Tinubu witnessed the signing of the two Memoranda of Understanding (MoU) in Berlin, Germany, at the 10th German-Nigerian Business Forum, according to Mr Ajuri Ngelale, the President’s Special Adviser on Media and Publicity.

By Modupe Gbadeyanka Stanbic IBTC Bank Limited has been recognised as the Most Outstanding Bank Supporting Women-Owned Businesses at the Women in Marketing and Communications Award (WIMCA) held in Lagos. The organisers of the event said the subsidiary of Stanbic IBTC Holdings has been very supportive of businesses owned by females in the society. The lender has created a healthy environment that breaks down barriers for talented, qualified women to achieve their career aspirations, own their businesses, and make demonstrable differences in their various industries. The Head of Enterprise Banking at Stanbic IBTC Bank, Ms Olajumoke Bello, while receiving the

By Dipo Olowookere The New Partnership for Africa’s Development Infrastructure Project Preparation Facility (NEPAD-IPPF) has continued to support African countries to strengthen regional infrastructure connectivity by providing grants for project preparation and development for complex, cross-border regional infrastructure projects in energy, transport, ICT and trans-boundary water. This directly supports Africa’s integration and industrialization efforts as well as trade in goods and services and helps to improve the quality of lives of Africans by improving access to infrastructure services – electricity, transport, communications and water. NEPAD-IPPF provides grants to African countries through Regional Economic Communities (RECs) and specialized regional infrastructure institutions

By Dipo Olowookere **Sets Date For Placement Test Re-sit The Lagos State Examinations Board has announced Saturday, October 22, 2016 as examination date for the year 2016 Placement Test re-sit examination for all affected primary six pupils in both public and private schools at designated centres in the state. A statement issued by the Director of the Board, Mr Oluwafemi Hassan disclosed that the re-sit became necessary to afford more pupils the opportunity to partake in the examination for admission into Lagos State public secondary schools. Mr Hassan therefore enjoined all affected schools to avail themselves of this opportunity as

By Adedapo Adesanya President Muhammadu Buhari has ordered the Department of Petroleum Resources (DPR) to restore the ownership of Oil Mining Licenses 123, 124, 126 and 137 to the Nigerian National Petroleum Corporation (NNPC) which has a Production Sharing Contract (PSC) agreement with Addax Petroleum Nigeria Limited. Mr Buhari, who doubles as the substantive Minister of Petroleum Resources, has instructed the DPR to retract a letter of revocation of the four oil blocks taken from Addax Petroleum, a company owned by the Sinopec Group and awarded to Kaztec Engineering. The Sinopec Group is wholly owned by the Government of the

By Kestér Kenn Klomegâh During the 36th Ordinary Session of the African Union Assembly, the Department of Health, Humanitarian Affairs and Social Development, in partnership with the World Health Organisation (WHO), seeks to work towards the reduction of communicable diseases, including HIV/AIDS in Africa. It was noted that the pandemic was raging worldwide but had an acute impact across Africa. The spread of the disease affected every dimension of African society, and AIDS lowered the life expectancy of adults on average by 20 years. In 2001, the Heads of State of Africa met in a special summit in Abuja explicitly

By Modupe Gbadeyanka On Tuesday, Fidelity Bank Plc held its 2nd monthly & bi-monthly prize presentation ceremony in its Get Alert in Millions Savings promo season 3 (GAIM 3). During the event held at the bank’s Oniru Branch in Lagos, not less than N19 million in cash prizes were given to lucky customers of the financial institution    At the ceremony attended by top executives of Fidelity Bank, customers and friends as well as representatives from the regulatory agencies and gentlemen of the press, other consolation prizes were dished out to winners. The star prize of N3 million was grabbed

By Ahmed Rahma The Vice President, Professor Yemi Osinbajo, on Wednesday, presided over the 40th virtual meeting of the Federal Executive Council (FEC) at the State House in Abuja. Before the commencement of the day’s proceedings, which was attended by some members virtually, the council observed a minute silence for former Ministers. Officially announcing the passage of the two former ministers to the council, the Secretary to the Government of the Federation (SGF), Mr Boss Mustapha, recalled their various services to the country. One of them was Mr Olabode Olowoporoku, who served as Senator representing Ekiti South Senatorial District at

By Adedapo Adesanya The issuance of a €500 million Sovereign Guarantee (about N153.5 billion) from the Credit Suisse AG London Branch as a collateral for a loan has been approved by the Federal Executive Council (FEC) presided by President Muhammadu Buhari on Wednesday. According to Premium Times, the loan was sourced from a “syndicate of international lenders” to finance the countries industrialization projects. Minister of State for Budget and National Planning, Mr Clement Agba, explained that the loan was issued to the Bank of Industry (BoI), adding that it would also be used to finance the activities of micro, small

By Ebitonye Akpodigha Some teachers sponsored by the Jigawa State government to study in universities across the world for in-service courses and have graduated have refused to report to their place of work. Head of Service in the state, Mr Mohammed Inuwa Tahir, informed newsmen that this has compelled the government to suspend indefinitely in-service training courses. He also said the state government has now set up a special committee to find those involved and other teachers receiving salaries without going to work. Mr Tahir noted that the teachers betrayed state government’s trust by remaining abroad when their expertise was