Keystone Bank Unveils ‘I Bank With Keystone Bank’ Campaign

By Adedapo Adesanya President Bola Tinubu has thrown his full weight behind the plan by the Central Bank of Nigeria (CBN) to increase the capital base of banks in the country. The President expressed his views on this move, which last occurred in 2005, through his Special Adviser on Information and Strategy, Mr Bayo Onanuga, in his message at the 40th anniversary of The Guardian Newspapers in Lagos on Tuesday. He said bank recapitalisation was crucial to Nigeria achieving a $1 trillion economy. “Amidst the general lull in a global economy, our ambition to attain a $1 trillion economy appears

By Modupe Gbadeyanka A global provider of audit and certification services, MSECB, has issued a certification to Access Bank Plc for its Anti-Bribery Management System. The certification was issued to the Nigerian lender after implementing effective measures and fostering a culture of integrity within its system and operations. With this certification, Access Bank aims to provide its customers with the highest level of confidence in the bank’s unwavering integrity, assuring them of its zero-tolerance policy for bribery and ethical misconduct, thus fostering a positive relationship, and building trust and credibility among its stakeholders, including customers, partners, and investors. The bank

By Adedapo Adesanya  The Central Bank of Nigeria (CBN) would likely direct banks to increase their capital base in the coming months as part of a new policy push towards a $1 trillion Nigerian economy. The Governor of the apex bank, Mr Olayemi Cardoso, said this while delivering his keynote address at the 58th Annual Chartered Institute of Bankers of Nigeria (CIBN) dinner in Lagos on Friday. The new CBN chief used the event to unveil the bank’s monetary policy thrust and economic outlook for 2024, following the cancellation of the Monetary Policy Committee (MPC) meeting for the quarter. “We

By Adedapo Adesanya The Senate has approved a $40 per barrel oil benchmark for the 2021 budget as it passed the 2021-2023 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP). The passage of the document followed the consideration of a harmonised report of the Joint Committee of the Senate and House of Representatives. In his presentation, Chairman of the Senate Committee on Finance, Mr Olamilekan Solomon Adeola, explained that the conference report of the Senate and House of Representatives was a harmonised position of both chambers upon examination of the differences contained in the 2021-2023 MTEF/FSP document. According

By Adedapo Adesanya Crude oil prices rose on Friday on the back of sustained global energy, causing the Brent crude to increase by 44 cents or 0.54 per cent to $82.39 per barrel, while the United States West Texas Intermediate (WTI) gained 1.34 per cent or $1.05 to $79.35 per barrel. The surge in the prices of the commodity as well as natural gas and coal in recent days has been due to an energy crunch affecting Europe and Asia. Benchmark European gas prices at the Dutch TTF hub on Friday stood at a crude oil equivalent of about $200

By Modupe Gbadeyanka One of the leading brewery organisations in Nigeria, International Breweries Limited, has expressed its intention to form a merger with two other companies. This move, International Breweries explained, is part of its expansion plans, which would eventually benefit shareholders in terms of returns on their investments in the company. International Breweries listed the two firms it intends to merge with as Intafact Beverages Limited and Pabod Breweries Limited. A statement signed by the company’s Secretary, Muyiwa Ayojimi, noted that the three organisations have “agreed to explore a combination of the three businesses via a scheme of merger

By Dipo Olowookere “The world is far better prepared for another Ebola outbreak,” said Dr Margaret Chan, Director-General of the World Health Organization, today at a celebratory event to recognize the Governments and people of the three most-affected countries for their contribution to the control of the Ebola outbreak in 2014-15. Dr Chan joined the President of the Republic of Guinea, HE Professor Alpha Conde, His Excellency Minister of Health, Dr Abdourahmane Diallo, and representatives from the Governments of Liberia and Sierra Leone, in celebrating the successful development of the world’s first vaccine against Ebola. Dr Matshidiso Moeti, Regional Director

By Adedapo Adesanya The e-Finger departure screening point at the Murtala Mohammed International Airport (MMIA) has been temporarily shut down by the Federal Airports Authority of Nigeria (FAAN). The facility was closed by the organisation to enable officials of the airport to carry out some routine maintenance on the machine, Business Post gathered. In a statement issued in Lagos on Tuesday by the General Manager of FAAN in charge of Corporate Affairs, Mrs Henrietta Yakubu, it was disclosed that the maintenance should be completed very soon. Mrs Yakubu said that the process was part of the airport maintenance and upgrade

By Adedapo Adesanya Crude oil reacted positively to the news of headway in possible coronavirus vaccines which were announced simultaneously on Monday. Brent crude futures gained 14 cents or 0.33 per cent to $43.28 per barrel and US West Texas Intermediate (WTI) crude futures rose 19 cents or 0.34 per cent to $40.67 per barrel. More than 14.5 million people have been infected by the novel coronavirus globally and more than 604,000 have died of COVID-19, the disease caused by the pathogen, and with rising cases, fuel demand recovery is taking the hit. However, prices found support after three groups

By Modupe Gbadeyanka A new case study has shown that the digitization of Kenyan farmers’ payments has helped in tackling poverty in the country. The study revealed how the United Nations-based Better Than Cash Alliance in conjunction with an agriculture non-profit organization named One Acre Fund, and Citi Inclusive Finance successfully digitized loan repayments for farmers in Kenya. This move significantly boosted transparency and efficiency, driving economic opportunity and financial inclusion for thousands of smallholder farmers and their families. One Acre Fund, supported by Citi, enabled farmers to easily make loan repayments via mobile money instead of cash, reducing the

By Adedapo Adesanya Three companies; UBN Property Plc, Friesland Campina Wamco Nigeria Plc, and Central Securities Clearing System (CSCS) Plc dragged the NASD Over-the-Counter (OTC) Securities Exchange into the negative territory in the 44th week of trading in 2022. Last week, the NASD exchange depreciated by 0.25 per cent as a result of the decline in the stock prices of the trio, leaving the NASD Unlisted Securities Index (NSI) to shed 1.8 points to settle at 720.36 points compared with 722.16 points recorded in the previous week. UBN Property Plc lost 9.8 per cent in the week to close at