First Bank Assures Oil Firms More Financial Support

By Aduragbemi Omiyale DataPro and Agusto & Co have upgraded the credit ratings of a Lagos-based development investment bank, DLM Capital Group, following an improvement in its credit risk and liquidity risk management. DLM Capital Group is a company with many subsidiaries, including DLM Advisory, DLM Asset Management, DLM Securities, CitiHomes Finance Company, DLM Nominees, DLM Trust Company, Sofri Bank (LINKS MFB), and DLM FX. The group provides innovative solutions to economic and social developmental challenges that impact the everyday lives of people. In its rating assessment, the pan African credit rating agency, Agusto, explained that it upgraded DLM Capital

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 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 Ebitonye Akpodigha Chairperson of the African Union Commission (AUC), Dr Nkosazana Dlamini Zuma, is expected to arrive in Lomé, Togo, next week for the African Union’s Extraordinary Summit on Maritime Security, Safety and Development in Africa, scheduled to take place from 11-15 October 2016. The Chairperson confirmed her arrival to President Faure Gnassingbé when they met at the Sheraton Hotel in Addis Ababa, Ethiopia, on Wednesday 5 October 2016. President Faure Gnassingbé was in Ethiopia on a two-day official visit during which, together with the AU Commission Chairperson, discussed the state of preparations of the Extraordinary Summit. “We’re looking

By Modupe Gbadeyanka The Managing Director/Chief Executive officer of Secure Electronic Technology Plc, Mr Odunlami Kola-Daisi, has resign from the position. Mr Kola-Daisi made known his decision to leave the company in a resignation letter to the board on Thursday, July 11, 2019. According to a statement, the letter was accepted by the board, which thanked him for his immense contributions to the company during his tenure as the MD/CEO. As a result of this development, the Internal Divisional Director/Chief Lottery Operating Officer, Mr Hamzat Abiodun, has assumed the role of the MD/CEO in acting capacity for a maximum period

By Adedapo Adesanya NASD Plc recorded a profit after tax (PAT) of N24.2 million for the first quarter of 2020, higher by 73 percent than the N14.0 million reported in the same period of 2019. According to the unaudited statement of the securities exchange company, which has a platform for trading of stocks of unquoted public organisations, its profit before tax (PBT) was also at N24.2 million in Q1 2020 as against N14.0 million in Q1 2019. The firm, which also trades its stocks on its platform, said it raked N53.5 million from fees and commission income, higher than N38.3

By Adedapo Adesanya The Association of Nigerian Electricity Distributors (ANED) has lamented that Electricity Distribution Companies (DisCos) are losing over N30 billion of their monthly revenue due to cases of energy theft, meter bypass, vandalism and unpaid electricity bills by consumers. ANED in a statement by its Executive Director, Research and Advocacy, Mr Sunday Oduntan, on Thursday, explained that over 40 percent of electricity consumers do not pay their electricity bills while indulging in illegal connection of electricity. It was disclosed that DisCos had at the recent public hearing in Abuja by the Senate Committee on Power, said these challenges

By Adedapo Adesanya The Nigerian Shippers Council (NSC) has sought the cooperation and collaboration of shipping companies to drive efficiency, transparency and effectiveness of port processes. The Executive Secretary and Chief Executive Officer of the Council, Mr Emmanuel Jime, disclosed this when he led the agency on a courtesy visit to Maersk Line and Mediterranean Shipping Company (MSC) in Lagos, urging the operators to ensure the continuity of the robust relationship they are having with NSC. The NSC boss wants the shipping companies to operate and conduct their operations within the regulatory framework of the council. Mr Jime said they

By Dipo Olowookere Commercial banks operating in the country have been accused of deliberately flooding the market with dirty Naira notes, which have become an eyesore to citizens. This is mainly seen in the N100 notes. At several Automated Teller Machines (ATM) spread across the country, customers are given mutilated notes, a thing that has become a source of worry to many. Acting Director of Corporate Communications at the Central Bank of Nigeria (CBN), Mr Isaac Okoroafor, while commenting on the issue, also accused the banks of hoarding new notes. He said commercial banks in the country receive enough new

By Ashemriogwa Emmanuel The Chief Executive Officer (CEO) of Treepz Incorporated, formerly known as Plentywaka, Mr Onyeka Akumah, has said that the rebranding of the Toronto-headquartered shared mobility startup presented an opportunity to align with its Pan-African expansion plan. He revealed that the company had been looking for a globally acceptable name for the last six months to use in creating the right kind of positive emotions around bus trips on the African continent. According to him, the decision to change the name of the 2-year-old ride-hailing company was after a thorough deliberation from its stakeholders, partners, and staff members.

By Dipo Olowookere Some angry Nigerians have lashed out at Dettol and the Nigeria Centre for Disease Control (NCDC) over the action of their respective brand ambassador, Funke Akindele, a well known actor in the country. On Saturday, the actor and her music artiste husband, JJC Skills, threw a party to celebrate his birthday and few of their colleagues in the showbiz industry, Naira Marley and Eniola were among the guests sandwiched in their apartment. One way, the video found its way to the internet and has been generating hot reactions from social media users, who described the action as