Heritage Bank Boss Detects Shortfall of BVN in ID Mgt

By Adedapo Adesanya Neo-bank, PayDay, may get a new owner as its founders, which include Mr Favour Ori, are considering a sale in the coming months, per sources who spoke exclusively with TechCabal. According to the report, the company is in the process of being sold, with some developments that followed the exit of its co-founder and Chief Operating Officer (COO), Mrs Yvonne Ogechi Obike. In March, the company raised $3 million to expand its footprint into the United Kingdom and Canada. This round was led by Moniepoint Inc. and saw contributions from HoaQ, DFS Lab’s Stellar Africa Fund, and

By Adedapo Adesanya The African Export-Import Bank (Afreximbank) recorded a 107.1 per cent growth in total interest income to $1.1 billion for the half-year of 2023 versus $540.8 million in the same period of 2022. This was contained in the consolidated financial statements of the bank and its subsidiaries for the half year ended 30 June 2023, which demonstrates a strong and resilient performance, which was ahead of expectations due to global headwinds. The growth in its total interest income came as a result of increased volume of interest-earning assets, particularly loans and advances and higher interest rates. Afreximbank Group’s

Ecobank Nigeria has started the remodelling of its branches across the country. This effort will see the bank turn its existing banking halls into modern smart banking arenas designed to offer a cosy experience to customers and other stakeholders of the bank who visit the branches. Speaking on the branch transformation exercise, Mrs Titi Olarinde, Head, Branch Network, Ecobank Nigeria Limited said it is a deliberate and strategic decision of the bank to ensure that customers transact seamlessly in an environment where they are happy to come to every day whilst providing the best banking experience for them and our

By Modupe Gbadeyanka The external reserves of Africa’s largest economy returned to $42 billion after one month it fell below this present level. Data obtained by Business Post from the online portal of the Central Bank of Nigeria (CBN) showed that as at Wednesday, November 2, 2018, the amount left in Nigeria’s foreign reserves was $41.992 billion, approximately $42 billion. On October 31, 2018, the reserves depleted to $41.995 billion from $42.062 billion the previous day and since then, things have been going badly. At a point this month, precisely on November 22, the external reserves dropped to $41.523 billion,

By Dipo Olowookere The financial statements of Mobil Oil Nigeria Plc for the year ended December 31, 2018, have been approved by the company’s board of directors. This information was confirmed by the energy firm on Friday in a statement signed by its scribe, Mr Danladi Ochekpe. In the statement, Mr Ochekpe said the accounts of Mobil Oil Nigeria were approved by the board at its meeting held on March 7, 2019. During the meeting, it was agreed that the financial results should be released to the Nigerian Stock Exchange (NSE) on Friday, March 22, 2019. It was further disclosed

By Modupe Gbadeyanka The sum of N263 million has been approved by the Federal Government for the production of Arabic gum seedlings for Nigerian farmers and for export. Minister of Agriculture, Mr Audu Ogbeh, told journalists on Wednesday that the money was approved for three research institutions to carry out this assignment. Mr Ogbeh, while addressing newsmen at the end of the Federal Executive Council (FEC) meeting presided over by the Acting President, Mr Yemi Osinbajo, in Abuja, noted that similar efforts were on to boost cassava production in the country. He emphasised that in 2016, Nigeria earned as much

By Investors Hub Asian stocks closed mixed on Tuesday as investors continued to wait for signs of progress in trade negotiations between the U.S. and China. Nevertheless, investor sentiment was bolstered by news that the Trump administration issued a new 90-day extension that will allow U.S. companies to continue doing business with Chinese telecom giant Huawei Technologies. Chinese shares closed higher for the second straight day amid hopes of government stimulus to boost slowing economic growth. The benchmark Shanghai Composite Index rose 24.79 points or 0.9 percent to finish at 2,933.99. Hong Kong shares extended Monday’s rally, erasing some of

The race towards who takes over from the incumbent Customs Area Controller (CAC) of the Apapa Command of the Nigeria Customs Service (NCS), Comptroller Willy Egbudin, seems to have intensified. For those who may not know, Comptroller Egbudin retires from service next month. Already, some ambitious Customs Comptrollers, mostly at the headquarters of the NCS, have reportedly intensified their lobby to be posted to the Apapa Area 1 Command, which is considered as the juiciest command in the land. Findings by Tribune have further confirmed that already, the Customs management at the headquarters in Abuja is already profiling the list

***Raked N71.3b In Six Months By Modupe Gbadeyanka Governor Ifeanyi Okowa of Delta State has disclosed that the state, under his care, recorded about N71.3 billion in revenue from January to June 2016. This, he said, was against the projected N268 billion contained in the Delta State’s 2016 appropriation Act. In his performance report presented at the Lagos Business School, Mr Okowa revealed that the state raked N21,996,004,767 through internally generated revenue (IGR). According to the report, a total of N41,015,052,512 was earned in statutory allocation including mineral revenue derivative while Value Added Tax, VAT and other capital receipts, while

By Rotimi Onadipe In today’s digital age, technology is an essential tool in our daily lives but when used excessively it may have negative impacts on the spiritual, emotional and physical wellness of users. It may also change the way the human brain processes information. These dangerous signs are now manifesting among toddlers. Most children within age 1 to 3 are no longer interested in playing with other toys except screen devices e.g. laptop, iPad, iPhone, tablet etc. All they want is to sit down in front of a screen or click on any App that is available on the

By Dipo Olowookere Governor Abubakar Sani Bello of Niger State has commissioned a multi-million Dollar Integrated Rice Processing and Milling Complex in Bida. The factory was commissioned by the Governor on Thursday, December 8, 2016 and was built by Korea International Cooperation Agency (KOICA). When fully on stream, the company will employ over 10,000 direct and indirect persons in the state. Business Post gathered that the mill was constructed through a tripartite agreement involving Niger State government, Federal Ministry of Agriculture and Rural Development and the Republic of Korea. Governor Bello expressed his happiness that the factory fits into his