GTBank Declares N185b Profit in 2018, Proposes N2.45k Dividend

By Bliss Okperan A digital investment platform known as AltInvest has been introduced by a new kid in the banking industry in Nigeria, Alternative Bank. According to the non-interest lender, which commenced operations in October 2023, the new product empowers individuals to navigate seamlessly the investment world, blending ethical and digital features for increased accessibility. At the unveiling of the innovative financial solution at the 44th Kano International Trade Fair, the company also launched another produced AltBiz, which it said caters to the financial needs of businesses, offering a comprehensive suite of services to fuel growth, innovation, and sustainability. “These

By Modupe Gbadeyanka A partnership for the deployment of a patronage reward product has been entered into between Unity Bank Plc and Cashtoken, a cash reward-as-a-service company that operates a loyalty programme designed to power customer engagement and improve customer satisfaction. This collaboration will see the bank’s customers winning millions of Naira in cash rewards and guaranteed instant cashback. A statement issued by Unity Bank said this scheme provides an opportunity to migrate old and new customers to a platform that will continually create exciting rewards and appreciation for loyalty. It said this initiative would not only reward existing customers

By Adedapo Adesanya One of Africa’s biggest financial institutions, Access Bank, is close to finalizing a regulatory process to launch its first full banking service in Asia in the first quarter of 2024. This was disclosed by the chief executive of its holding company, Mr Herbert Wigwe, on the sidelines of the Africa Financial Industry Summit in Lomé, Togo, as per Semafor. The Nigerian lender’s plan to enter the Asian market is part of a wider global expansion target which includes a strategy to expand more deeply into Francophone Africa, build closer ties with North Africa, and across Europe where

By Adeniyi Ogunfowoke Chargers are very important to any device. Your device is useless without their particular chargers. Simply put, you cannot use your device without your charger. This is even more essential if you are using an original charger. But if it gets damaged because you didn’t take good care of it, you will either keep borrowing chargers or spend your hard earned money purchasing chargers because there are so many counterfeit ones out there. We share 5 tips for taking care of the charger of any device. Always unplug by the head Perhaps you are feeling lazy that

By Adedapo Adesanya The Naira weakened against the US Dollar at the Investors and Exporters (I&E) segment of the foreign exchange (forex) market on Monday, November 8. Data showed that the domestic currency depreciated at the spot market by 25 kobo or 0.06 per cent yesterday to close at N414.55/$1 compared with N414.30/$1 it traded at the previous session. This happened on the back of a 73.7 per cent rise in the demand for forex, according to data obtained by Business Post from FMDQ Securities Exchange. It was observed that the value of transactions for the trading session stood at

By Dipo Olowookere In 2021, the number of international flight departures through the Nigerian airports increased by 54.7 per cent to 1,109,525 from 717,261 in 2020, according to the National Bureau of Statistics (NBS). In its Air Transportation Data for the full-year 2021, the stats office said the number of arrivals of international passengers into the country rose to 1,109,621 from the 690,765 achieved in 2020. Analysis of the data by Business Post showed that as for the departure for international flights, the Murtala International Airport in Lagos was the major route for exit from Nigeria, recording 807,648 and was

Ever since Nigeria opened herself up for gambling companies to begin operations in Nigeria, there has been unending debates about the impacts of sports betting and gambling generally. While some have welcomed the development with open arms, others have not been particularly receptive to the idea of a sports betting industry in a somewhat conservative country. Critics of online gambling have been quick to point out the possible negative effects of gambling which include addictive gambling habits, financial impropriety and underage gambling and many other undesirable consequences that come with the territory. Despite the reservations from so many quarters, sports

By Investors Hub The major U.S. index futures are pointing to a higher opening on Tuesday, with stocks likely to give back ground after trending higher in recent sessions. The downward momentum on Wall Street comes as traders react to earnings news from home improvement retailer Home Depot (HD). Shares of Home Depot are moving notably lower in pre-market trading after the company reported first quarter earnings that beat analyst estimates but weaker than expected sales. Despite this, when comparing Home Depot vs. Lowes, Home Depot continues to showcase positive strengths. After failing to sustain an early move to the

By Modupe Gbadeyanka Nigerians have been assured that the pump price of Premium Motor Spirit (PMS), commonly called petrol, will not be increased this month. This assurance was given by the Nigerian National Petroleum Corporation (NNPC) via a statement signed by its Group General Manager in charge of the Group Public Affairs Division, Mr Kennie Obateru. In the statement issued on Sunday, Mr Obateru appealed to motorists and consumers of the commodity not to panic buy or hoard the product. There had been reports that oil marketers will increase the price of the fuel at their retail stations on the

By Adedapo Adesanya Oil fell by 4 per cent on Wednesday, extending steep losses from the previous sessions after the US Federal Reserve raised interest rates and as investors fretted about the economy. Brent futures lost $2.99 or 4.0 per cent to trade at $72.33 a barrel, while the US West Texas Intermediate crude (WTI) depreciated by $3.06 or 4.3 per cent to close at $68.60 per barrel. Both benchmarks fell close to 5 per cent on Tuesday, their biggest daily percentage decline since early January. On Wednesday afternoon, the US Fed raised interest rates by a quarter of a

By Dipo Olowookere Weak investor sentiment on Thursday weakened the Nigerian Exchange (NGX) Limited by 0.08 per cent on the back of renewed profit-taking across the key sectors of the market. The All-Share Index (ASI) decreased by 35.72 points yesterday to close at 44,011.22 points compared with the preceding day’s 44,046.94 points, as the market capitalisation went down by N19 billion to end at N23.972 trillion versus Wednesday’s value of N23.991 trillion. Business Post reports that the insurance counter grew by 0.17 per cent during the session, but the losses from other counters suppressed its growth. The banking space lost