Fidelity Bank Seeks Fresh Funds from Investors via Private Placement

Agriculture is not just an industry; it’s the lifeblood of nations. It fuels economies, nourishes communities and sustains livelihoods. Access Bank, a leading financial institution in Africa, understands the vital role agriculture plays in the nation’s prosperity. In a bold move that underscores its unwavering commitment to fostering agricultural growth and ensuring food security in Nigeria, Access Bank is proud to announce the grand relaunch of its Agriculture Desk. The enhanced desk is aimed at empowering farmers, agribusinesses and the agriculture sector as a whole. For years, Access Bank has been at the forefront of supporting agriculture and agribusiness in

By Aduragbemi Omiyale The banking subsidiary of Stanbic IBTC Holdings Plc, Stanbic IBTC Bank Plc, has been re-registered with the Corporate Affairs Commission (CAC) as a private firm. A statement from the parent organisation disclosed that the conversion was done as a result of brand confusion among investors and members of the public. It was stated that some investors confuse the parent company with the banking business and to clear the confusion, the banking arm of the firm has been changed to a private limited liability company from a public liability entity. Stanbic IBTC said it has obtained regulatory approvals

By Modupe Gbadeyanka A total of N7 million has been won by 70 customers of Stanbic IBTC Bank Limited in season three of the lender’s Reward4Saving promo. The winners were given N100,000 each in the October draw held recently, with their corresponding cheques presented to them on Friday, November 10, 2023, at the headquarters of the company in Lagos. The third season of the promo started in September 2023 and 140 people have been rewarded so far with N100,000 each. There are 10 draws left until the end of season three and 700 new and existing customers from our seven

By Adedapo Adesanya The Economic and Financial Crimes Commission (EFCC) has alerted Nigerians of unauthorised bank withdrawals linked to Automated Teller Machine (ATM) card swap fraud. The commission issued the alert on Monday in a statement by the Head of Media and Publicity, Mr Dele Oyewale. According to the EFCC, fraudsters engaged in this activity typically keep a debit card from the same bank and, under the guise of assisting a confused bank customer at an ATM point, swiftly swap the card while memorising the PIN used with fake cards. “These cards get stuck in the machine due to a

By Modupe Gbadeyanka Stock market in Nigeria reacted positively to the passage of the 2017 appropriation bill on Thursday by the National Assembly (NASS), increasing by 3.18 percent to extend the market rally to 10 straight days. The lawmakers finally passed the 2017 budget after over four months it was presented to them by President Muhammadu Buhari, who is presently out of the country undergoing a medical check-up in London, United Kingdom. The major market indices recorded a huge leap today to settle in the green territory after trading activities on the Nigerian Stock Exchange (NSE) finished for the day.

By Dipo Olowookere Over 3,000 undergraduates from various tertiary institutions in the country have been empowered on skills acquisition by Fidelity Bank Plc through its youth empowerment programme known as Fidelity Youth Empowerment Academy (FYEA). Last week, the lender took this initiative to the Sokoto State University (SSU) in Sokoto, where about 200 students of the school were beneficiaries. At the closing ceremony, MD/CEO of Fidelity Bank, Mr Nnamdi Okonkwo, urged Nigerian youths to embrace entrepreneurship and create wealth for themselves instead of searching endlessly for non-existing paid jobs. “The students were drawn from the 5 institutions that have benefitted

By Modupe Gbadeyanka Governor Babajide Sanwo-Olu has assured investors to bring their funds to Lagos State as their investments would be safeguarded. The Governor gave this assurance on Friday at a one-day economic summit organised by the Central Bank of Nigeria (CBN), Bankers Committee and the Vanguard Newspapers in Lagos. He said his administration has a big vision for the state, imploring local and foreign investors to quickly key into the agenda, which will expand to the southern part of the country. According to him, efforts are being made daily to improve infrastructure, encourage innovation, agriculture as well as improve

By Adedapo Adesanya Due to the current outbreak of COVID-19, the National Association of Government Approved Freight Forwarders (NAGAFF), on Friday urged the federal government to declare a 21-day force majeure to ensure waiver on charges in the seaports. The force majeure grants the removal of liability for natural and unavoidable catastrophes that interrupt the expected course of events and restrict participants from fulfilling obligations, in this case the coronavirus. This call was made by the association in a statement signed by its Secretary General of NAGAFF, Mr Dipo Olayoku, in Lagos on Friday. “In times of emergency like this,

By Modupe Gbadeyanka No fewer than seven winners emerged in the final draw of the Paypoint Double Up promo organised by Quickteller, one of the leading consumer digital payments platforms in Africa. The winners were picked at an event held on Thursday, April 14, 2022, in Lagos in the presence of the Federal Competition and Consumer Protection Commission (FCCPC), the Lagos State Lottery Board (LSLB), and the National Lottery Regulatory Commission (NLRC). They were chosen from the Southwestern region of Nigeria and sorted from categories such as Silver, Gold, and Platinum. The last round saw four agents emerge winners in

By Adeniyi Ogunfowoke Variety of dishes lavishly and tastefully displayed to invite and tempt Lagosians who want to feed their stomach. At mama puts or bukkas dotted around the city, you find bankers, civil servants and artisans jostling to buy food at these spots. ‘Madam give me amala with efo riro, shaki, roundabout and pomo’-they shout at the top of their voices. In other cases, if you don’t like mama put, then the fancy restaurants is the place you frequent. While you regularly patronise these restaurants every day, have you ever considered cooking for yourself? Of course, you are very

By Dipo Olowookere Authorities of the Nigerian Army have denied a report by a popular online news platform, Sahara Reporters, that about 700 soldiers were missing in Baga town in Borno State. The report was titled About 700 Soldiers Missing, More Than 2,000 Trapped As Boko Haram Takes Over Baga. But in a rebuttal, the Army said there was no iota of truth in the Sahara Reporters’ story, urging members of the public to ignore it. “Our attention has been drawn to a news story with the headline EXCLUSIVE: ‘About 700 Soldiers Missing, More Than 2,000 Trapped’ As Boko Haram

By Adedapo Adesanya The local subsidiary of the global consultancy firm, KPMG Nigeria, has cut down its forecast for Nigeria’s economic growth rate for this year. In its Flashnotes for August 2023, the firm now put Nigeria’s expected growth at 2.65 per cent, in contrast to an initial forecast of 2.85 per cent, the consultancy said in its latest commentary. This came as the National Bureau of Statistics (NBS) released the country’s GDP for the three months through June (Q2 2023). In the KPMG report signed by its chief economist (a former head of the NBS), Mr Yemi Kale, the