NDIC Begins Process to Pay Depositors of 179 MFBs, PMBs

By Aduragbemi Omiyale The forthcoming trade expo organised by Fidelity Bank Plc has received the endorsement of the Mayor of Houston Texas, Mr Sylvester Turner. Mr Turner, in a short video, highlighted the several side attractions scheduled for FITCC Houston and encouraged businesses to take advantage of the expo to expand their businesses beyond borders. He described the event as “A catalyst to support bilateral trade between Nigeria and Houston; and an opportunity for the Houston community and the diaspora to explore emerging trends, forge new partnerships and unlock new possibilities.” The Nigerian lender will, on Tuesday, October 24 and

By Dipo Olowookere The Chairman of the Board of Directors of Citibank Nigeria, Mr Yemi Cardoso, has been nominated to serve as the new Governor of the Central Bank of Nigeria (CBN). The renowned stockbroker and investment banker was picked for the position by President Bola Tinubu, according to a statement issued on Friday by the Special Adviser to the President on Media and Publicity, Mr Ajuri Ngelale. He would be screened by the Senate, and on confirmation; he will take over from the acting CBN Governor, Mr Folashodun Shonubi, for a term of five years at the first instance.

By Modupe Gbadeyanka Africa’s leading payment cards and digital tokens brand, Verve, has joined forces with a fast-rising digital bank, Moniepoint Microfinance Bank, to provide customers with cutting-edge financial solutions. Recall that recently, Moniepoint announced its foray into the retail banking segment, issuing debt cards to its customers. The financial technology (fintech) firm boasts over 1.5 million businesses using its terminals across Nigeria to serve 30 million banked Nigerians. To pave the way for enhanced access to financial services for Nigerians and bridge the gap between traditional banking and modern fintech innovations, both parties are collaborating. The partnership will give

By Aduragbemi Omiyale If Nigerian banks intend to have a competitive advantage in the global market, then they must quickly integrate environmental, social, and governance (ESG) principles into their business strategies. This was the submission of the chief executive of the NGX Regulation Limited (NGX RegCo), Ms Tinuade Awe, at the 16th Annual Banking and Finance Conference organised by the Chartered Institute of Bankers in Nigeria (CIBN) in Abuja. Recall that Nigeria has made a commitment to adopt the International Sustainability Standards Board (ISSB) standards. At a panel session titled ESG in the Financial Services Industry: Challenges, Opportunities, and the

By Dipo Olowookere Lagos State chapter of the Nigerian Institute of Public Relations (NIPR) is organising a summit on digital public relations. This, it said, is in partnership with Google, Microsoft and TrendWatching. The Lagos Digital PR Summit is first of its kind in Sub Saharan Africa. It is a two-day experiential gathering of communicators focused on achieving collective intelligence to equip and capacitate communicators with high-level digital media strategies, tactics and how-to’s so they can do their jobs better, train their teammates, and lift their campaign results, Lagos NIPR said. The programme, themed ‘New Media: Public Relations Practice in

By Dipo Olowookere About 144 trucks filled with hoarded petroleum products have been discovered in Kano State by security agencies and the Nigerian National Petroleum Corporation (NNPC) monitoring team. The team was set up to rapidly end remnants of petroleum products supply gaps in parts of the country. The apprehended 144 trucks were not streamed by some marketers in Kano and the products were meant to feed state and its environs. Sequel to the discovery, the resurfaced trucks had been sent to discharge their products at the designated locations. Of the 144 trucks discovered, 26 were scheduled for Katsina, while

By Dipo Olowookere No fewer than 285 truck drivers on the payroll of Dangote Group of Companies Plc have been declared wanted. Also, an unnamed number of another set of drivers are said to be at large. The drivers were alleged to have stolen about 3.5 million customised tyres belonging to the company. Addressing newsmen on Sunday in Lokoja, Kogi State, Coordinator of Dangote’s National Patrol Unit, Mr Abdullahi Magaji, who is a retired Commissioner of Police, explained that each tyre of the company had an identification number and the number was registered with the driver’s name at collection point.

Superhero movies, comedy, animations and more are what you stand to enjoy this week on GOtv. This week, Edward Norton as Bruce Banner unleashes the green giant in The Hulk while Jason Shepherd plots to bring down a top but deceitful Hollywood producer in the comedy Big Fat Liar. Our lineup this week promises to provoke laughter, excitement, and heartwarming moments as we’ve curated an exclusive list of incredible shows that are perfect for the whole family. So, let’s dive into this week’s lineup. Almost Christmas There’s no better way to get that nostalgic Christmas feeling than with this movie.

By Aduragbemi Omiyale One of the leading cement makers in Nigeria, Lafarge Africa Plc, has said the 2023 general elections and the cash crunch negatively impacted its financial performance in the first quarter of this year. Prior to the polls, the country’s economy was almost brought to its knees over the decision of the Central Bank of Nigeria (CBN) to redesign the N200, N500, and N1,000 denominations. The apex bank announced the currency redesign policy in October 2022 and gave Nigerians till January 31, 2023, to swap the old banknotes with the new ones. However, this deadline was extended to

By Adedapo Adesanya A long-anticipated all-British heavyweight fight between Tyson Fury and Anthony Joshua may happen sooner than expected. Joshua’s management group said in a post on Twitter on Tuesday, September 13 that its fighter has accepted the terms presented by Fury for a bout on December 3. That was made known to Fury’s team on Friday, the 258MGT group said, before both parties agreed to halt communication following the death of Queen Elizabeth II on Thursday. “We are awaiting a response,” posted the management team, which said it was speaking on behalf of Joshua along with the fighter’s promoter,

By FBNQuest Research Although Nigeria’s economy has emerged from its technical recession, its macro challenges have not dissipated. As such, a cautiously optimistic approach has been adopted by banks on lending. The CBN’s Quarterly Statistical Bulletin for Q2 2017 shows total private sector credit by banks’ contracting by –0.5% q/q and expanding by just 1.1% y/y. The slowdown in loan growth is partly due to banks’ preference for the elevated yields well in excess of 20% for longer tenors that were recently available on the NTB market. However, those yields have started to dip in response to the CBN’s signal

By Modupe Gbadeyanka Minister of State for Health, Dr Osagie Ehanire, has inaugurated committees towards improving the quality of healthcare for mothers, newborn and children in the country. Dr Enahire said it is to drive the process of improving the quality of health care for mothers, newborn and children in a coordinated manner. The inauguration of the steering and technical committee took place yesterday in Abuja and the Minister stated that Nigeria was one of the first wave of countries to be part of the network to improve quality of healthcare among other countries. The Minister appreciated the World Health