Jaiz Bank Targets N316.3m Pre-Tax Profit by June

By Adedapo Adesanya The Central Bank of Nigeria (CBN) has directed banks across the country to continue issuing and accepting old as well as the redesigned Naira banknotes following the order of the Supreme Court. Business Post reported on Wednesday morning that the apex court granted the prayer of the Minister of Justice and Attorney-General of the Federation to extend the use of old Naira banknotes ad infinitum, scrapping a previous deadline of December 31. In a statement after the judgement, the central bank “directed all its branches to continue to issue and accept all denominations of Nigerian banknotes, old

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 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 Modupe Gbadeyanka Stanbic IBTC Bank Limited has been recognised as the Most Outstanding Bank Supporting Women-Owned Businesses at the Women in Marketing and Communications Award (WIMCA) held in Lagos. The organisers of the event said the subsidiary of Stanbic IBTC Holdings has been very supportive of businesses owned by females in the society. The lender has created a healthy environment that breaks down barriers for talented, qualified women to achieve their career aspirations, own their businesses, and make demonstrable differences in their various industries. The Head of Enterprise Banking at Stanbic IBTC Bank, Ms Olajumoke Bello, while receiving the

By Adedapo Adesanya As part of the efforts by the African Development Bank (AfDB) to drive infrastructural development in Nigeria, the sum of $250 million will be invested in the Federal Capital Territory (FCT), Abuja to improve technology, agriculture, water supply and sanitation in satellite towns. Senior Director at AfDB, Mr Ebrima Faal, stated during a six-man delegation visit to the FCT Minister of State, Mrs Ramatu Aliyu, in the nation’s capital on Sunday that the bank intends to invest in the development of Abuja Technology Village. He said a number of studies are ongoing in various components of the

By Dipo Olowookere On Monday, June 25, 2018, former Governor of Cross Rivers State, Mr Donald Duke, addressed delegates at the African Trade and Investment Global Summit (ATIGS) at the United States of America (USA). Mr Duke joined other global thought leaders within the public and private sectors to address issues bothering on foreign-direct investments and emerging markets between Africa and the rest of the world. ATIGS 2018 is expected to witness the gathering of top government delegations, high profile African business leaders, project developers and international investors from more than 70 countries worldwide. Mr Donald Duke was flanked during

By Adedapo Adesanya The federal government has offered to increase the hazard allowance of health workers in government establishments in the country by 600 per cent. This was revealed by the Minister of Labour and Employment, Mr Chris Ngige, at the end of a meeting of the Presidential Committee on Salaries (PSC), relevant federal government stakeholders and health professional association and trade unions on Wednesday in Abuja. The meeting was called by the Minister to discuss the issue of hazard allowance and retirement age for health sector workers in the government health establishments, adding that the resolutions reached at the

By Adedapo Adesanya In line with efforts to improve innovation and drive technological advancement in the country, the Nigerian Communications Commission (NCC) has promised to provide endowment funds to more universities in the country. The commission, according to TheCable, said there were further plans to expand the list of institutions who will benefit from the funds that will be released. In the report, it was noted that the agency in 2019, handed N40 million research fund to Bayero University, Kano (BUK) and the Federal University of Technology, Owerri (FUTO) with each receiving N20 million. The NCC charged students of both

By Investors Hub European stocks have moved sharply higher on Wednesday, with automakers leading the surge on reports that merger talks between Fiat Chrysler Automobiles and Renault have gained traction. Investors have also cheered media reports suggesting the German government has agreed to a draft law largely scrapping the so-called “Solidarity Surcharge” on income tax to shore up Europe’s largest economy. Elsewhere, Giuseppe Conte resigned as Italian Prime Minister, passing the baton over to President Sergio Mattarella to decide whether to call new elections or ask parties to form a new government. Italian bonds breathed a sigh of relief despite

There is excitement in the air following the approval for the establishment of a seaport in Badagry, Lagos. At the moment, the Nigerian Ports Authority (NPA), which controls seaports in Nigeria, is in charge of the two ports in Lagos; the Lagos Port Complex and the Tin Can Island Port. On Wednesday, after the Federal Executive Council (FEC), Minister of Power, Works and Housing, Babatunde Fashola, told State House correspondents that the Federal Government has approved the establishment of the Badagry seaport. Mr Fashola noted that the port, when completed, would be used to bring in big vessels into the

By Adedapo Adesanya With double-digit unemployment figures posing major threat to Nigeria, top financial institution, Fidelity Bank Plc, in collaboration with Gazelle Academy, have trained over 200 students of the Nnamdi Azikiwe University, Awka on entrepreneurship. The programme which ran from Wednesday October 23 – Friday October 25, 2019 was organized to drive youths to engage in sustainable employment alternatives that will see them create wealth for themselves rather than seeking out non-existing paid employment. The event, a brainchild under the Fidelity Youth Empowerment Academy (YEA 6), was designed to empower undergraduates in selected tertiary institutions across the six geo-political

By Modupe Gbadeyanka The Economic and Financial Crimes Commission (EFCC) and the Central Bank of Nigeria (CBN) have been directed by the House of Representatives to immediately crackdown on promoters of the fast-growing money doubling in Nigeria called Mavrodi Mondial Moneybox (MMM). At the plenary on Wednesday, after deliberations on the scheme, which is fast gaining grounds in the country, the House ordered the EFCC, security agencies and the CBN to take urgent steps to halt the programme before many Nigerian lose their life savings in it. Members of the lower chamber of the legislative arm of government described MMM