Fidelity Bank Sensitises Investors, Exporters on New CBN RT200 FX Policy

By Modupe Gbadeyanka A business grant of N10 million has been given to 30 members of the National Youth Service Corps (NYSC), who partook in the entrepreneurship development initiative of Unity Bank Plc known as the Corpreneurship Challenge. The young entrepreneurs received funding support for developing innovative solutions in several business value chains like honey production, rice, and snail farming, among others. The beneficiaries pitched their business ideas to judges selected for the competition across 10 state NYSC Orientation Camps; Katsina, Kano, Kwara, Imo, Rivers, Delta, Sokoto, Edo, Akwa-Ibom, and Osun States. At the NYSC Orientation camp at Ikot Itie

By Modupe Gbadeyanka A Nigerian lender, Fidelity Bank Plc, has agreed to adopt the single framework for a sustainable banking industry developed through collaboration between banks worldwide and the United Nations Environment Programme Finance Initiative (UNEP FI). Called the UN Principles for Responsible Banking (PRB), the initiative is a structure for ensuring that banks’ strategy and practices align with the vision society has set out for its future in the UN Sustainable Development Goals and the Paris Climate Agreement. Banks which have signed the principles commit to being ambitious in their sustainability strategies, working to mainstream and embed sustainability into

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 Aduragbemi Omiyale The Long-Term Issuer Default Rating (IDR) of Coronation Merchant Bank (CMB) has been downgraded by Fitch Ratings to ‘CC’ from ‘B-‘, with its Viability Rating (VR) also lowered to ‘cc’ from ‘b-‘. In a note released on Monday, the rating agency said it also demoted the bank’s National Long-Term Rating to ‘B+(nga)’ from ‘BBB-(nga)’, raising some red flags that prompted its latest decision. According to Fitch, CMB was moved down in the pecking order due to a “significantly weakened capital position”, which if not quickly addressed, “could lead to a material capital shortfall.” Already, the financial institution

By Ashemiriogwa Emmanuel Digital commodities trading platform, ComX, is set to hold a webinar to squarely discuss the concept of alternative investments and the inclusion of youths and women across the country in such investment opportunities. The program, which is themed Alternative Investments: Driving Youth and Women Inclusion, is scheduled to hold on Thursday, September 30, 2021, by 3:30 pm prompt. The virtual event, which requires registration here, will focus on the participation of women and youths in trading agricultural assets and other alternative investment opportunities on the ComX platform. Launched by the leading commodities market player in Nigeria, AFEX,

By Dipo Olowookere The board of directors of the Nigerian Aviation Handling Company (NAHCO) Plc has informed its shareholders and the investing public that the auditing of the company’s financial statements for the year ended December 31, 2019 is yet to be completed. In a disclosure sent to the Nigerian Stock Exchange (NSE), the firm explained that the delay in completing the audit of the 2019 earnings was caused by the coronavirus pandemic. Since last week, movements have been restricted in Lagos, Abuja and Ogun State due to COVID-19. The lockdown of these three places was to manage and prevent

By Adedapo Adesanya The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, has confirmed that the sale of the $6.2 billion Eurobonds will commence in September. The Minister confirmed this information on Thursday at a workshop organised by the Chartered Institute of Stockbrokers (CIS) in Abuja themed Leveraging the Financial Markets to Achieve Double-Digit Economic Growth for Nigeria. Mrs Ahmed, while declaring the event opened today, noted that the President Muhammadu Buhari led administration was committed to boosting the nation’s economy, adding that the Eurobonds to be issued are for the purpose of raising funds for the new

By Dipo Olowookere Following the success of Merck Cancer Access Program to empower women in oncology field where they are underrepresented, comes another successful initiative for MERCK to empower African women in research to offer better health care to women. After receiving his ‘African Alliances HE for SHE’ award for women empowerment, Prof Frank Stangenberg-Haverkamp has successfully achieved another commitment to empower women in research in an effort to bridging the gap in gender inequality in STEM Africa. UNESCO and Merck celebrate outstanding African Women Researchers as a historical first. Kenya, Botswana, Burkina Faso, Gabon, Uganda, Ethiopia ranked in the

In line with global practices, the Nigerian Communications Commission (NCC), has concluded plans to launch a number of Emergency Communications Centres (ECC) across the country. This is part of its mandate to “Promote and enhance public safety through the use of a particular number which shall be designated as the Universal Safety and Emergency Assistance Number for telephone services generally.” The Centres will be launched in various states of the federation and the Federal Capital Territory (FCT). In this regard, Nigerians can now access help from any Response Agency such as the Police, Federal Road Safety Corps (FRSC), Nigeria Security

Poker is not only an incredibly popular game these days but it can also be quite difficult to get into. Sure it’s gambling but it’s based more on skill than on luck and getting those wins when you’ve just begun playing is certainly not easy. It’s of course expected to lose more games than you win when you’re just starting out but considering that you’re playing with money it’s still best to try and win. That’s why we’ll be covering some of the best strategies for winning in crypto poker. Of course these strategies will work pretty similarly both on

Portuguese footballer, Cristiano Ronaldo, has been announced as the 2015/16 UEFA Best Player in Europe. The Real Madrid star beat his club team-mate, Gareth Bale, and player from his club’s rival, Atletico Madrid star, Antoine Griezmann, to claim the award. Ronaldo polled 40 votes to clinch the coveted prize, while his closest rival, Griezmann raked 8 votes, and Gareth Bale 7 votes. This is the second time Ronaldo, 31, is picking the award after winning it for the first time in 2014. In his reaction, Ronaldo said, “It is a great honour. My team-mates are the key, they are the

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange rose by 0.57 per cent on Tuesday, August 23, buoyed by the trio of Niger Delta Exploration and Production (NDEP),  Central Securities Clearing Systems (CSCS) Plc, and FrieslandCampina WAMCO Nigeria Plc  buoyed the market index and valuation lower with NASD Plc, Consequently, the value of the unlisted bourse increased by N5.68 billion from N997.02 billion to N991.34 billion, while the NASD Unlisted Securities Index (NSI) appreciated by 4.32 points to end the day at 757.38 points as against the 753.06 points it recorded in the previous session. NDEP Plc gained N1.50