Goldberg Lights Up 2016 Osun Osogbo Festival

By Bliss Okperan Users of neo banks like Opay, Carbon, Kuda, and PalmPay, among others, are worried over the new directive of the Central Bank of Nigeria (CBN), which intends to freeze bank accounts not linked to a Bank Verification Number (BVN) and a National Identity Number (NIN). Last week, the apex bank directed deposit money banks (DMBs) to place a “Post No Debit (PND)’ on any accounts with BVN and NIN from next year. For most neo banks, account numbers are opened with just users’ phone numbers without the BVN, unlike the traditional banks. However, they cannot make transactions

By Modupe Gbadeyanka For supporting Micro, Small and Medium-scale Enterprises (MSMEs) with credit facilities, Ecobank Nigeria Limited has won big at the 2023 Development Bank of Nigeria (DBN) Annual Service Ambassador Awards ceremony held in Lagos. The DBN Ambassadors Programme was designed to increase the sense of ownership among participating financial institutions, build capacity, increase on-lending small businesses and ultimately deepen financial inclusion in Nigeria. Ecobank is a participating financial institution in partnership with DBN to provide credit facilities, credit guarantees and technical support to MSMEs. It got an award for Platinum Service Ambassador; Bank with the Highest Impact on

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 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

The Lomé-based parent company of the Ecobank Group, Ecobank Transnational Incorporated (ETI), has announced the appointment of Nana Araba Abban as Group Consumer Banking Head with immediate effect. A statement issued by the company disclosed that Nana will be a member of the Group Executive Committee and would be expected to report directly to the Group Chief Executive Officer. Nana Araba Abban is a Chartered Accountant (FCCA) with over 25 years’ experience in the Financial Services industry. During her career at Ecobank, Nana Araba Abban has held several senior positions including Group Head of Direct Banking, Head of Client Engagement

By Dipo Olowookere A deal for the supply and installation of a pasta processing plant in Nigeria has been sealed between BUA Group and FAVA Spa of Italy. The agreement between both organisations will require the Italian company to build a pasta processing factory for its Nigerian counterpart in Port Harcourt, Rivers State, with a total capacity of 720 tonnes per day of pasta. According to the BUA Group, one of Africa’s leading foods and manufacturing conglomerate, the facility will be done across five lines and would be completed next year. The company stated that when completed in 2021, the

By Dipo Olowookere On Thursday, Linkage Assurance and PZ Cussons were the best-performing stocks at the Nigerian Exchange (NGX) Limited. The two equities were among the 19 price gainers recorded at the trading session, which outweighed the 15 price losers, making the stock market to further rise by 0.10 per cent at the close of transactions. Business Post reports that during the trading day, Linkage Assurance appreciated by 9.09 per cent to 60 kobo, with PZ Cussons growing by 7.14 per cent to N6.00. Also, Chams improved by 5.00 per cent to 21 kobo, May & Baker gained 5.00 per

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By Investors Hub European stocks have moved to the downside on Friday amid concerns about the U.S. government shutdown, a Brexit impasse and the lack of any clear resolution to the U.S-China trade talks. While the U.K.?s FTSE 100 Index has fallen by 0.4 percent, the German DAX Index and the French CAC 40 Index are sliding by 0.7 percent and 0.8 percent, respectively. Data from the Office for National Statistics showed the U.K. economy grew 0.2 percent in November versus expectations for 0.1 percent growth. However, growth slowed to 0.3 percent in the three months through November from 0.4 percent in

By Adedapo Adesanya The Nigerian Gas Association (NGA) has called for a multidimensional approach to energy transition in Africa amid the lingering global energy crisis and increased calls for the replacement of fossil fuels with renewable energy to reduce carbon emissions. NGA cautioned that Africa needs to be cautious and consider all the pertinent issues in transitioning from fossil fuel to cleaner and more sustainable energy sources. According to the National Publicity Secretary of the association, Mr Odianosen Masade, fossil transition in developed economies has been going on for over a century, whilst Africa was expected to transition over a

By Modupe Gbadeyanka In the month of December 2018, the Manufacturing PMI stood at 61.1 index points, indicating expansion in the manufacturing sector for the 21st consecutive months, growing at a faster rate when compared to the index in the previous month, the Central Bank of Nigeria (CBN) has said. During the period under consideration, 13 of the 14 subsectors surveyed reported growth in the review month in the following order: transportation equipment; furniture & related products; printing & related support activities; textile, apparel, leather & footwear; plastics & rubber products; chemical & pharmaceutical products; food, beverage & tobacco products;