NEXIM Shops for $50m for SMEs

By Aduragbemi Omiyale The Banker magazine, a publication of the Financial Times, has announced Stanbic IBTC Holdings Plc as the Bank of the Year in Nigeria. The Nigerian financial institution was honoured by the media platform as an awards cement held on Thursday, November 30, 2023, in London. The event, widely acknowledged as the Oscars of the Banking Industry, attracted several critical stakeholders in the global banking sector. It was explained that Stanbic IBTC Holdings was picked for the recognition because of its exceptional achievements in banking excellence, adept navigation of industry challenges, and commitment to providing innovative financial services

By Adedapo Adesanya Nigerian bank, Union Bank, alongside energy company, Riverside LNG of Nigeria, have signed different agreements that involve a $500 million renewable energy pact and gas export between Nigerian and German entities. Union Bank and DWS Group signed a pact on cooperation in renewable energy while Riverside LNG of Nigeria and Johannes Schuetze Energy Import AG of Germany on the gas export partnership. President Bola Tinubu witnessed the signing of the two Memoranda of Understanding (MoU) in Berlin, Germany, at the 10th German-Nigerian Business Forum, according to Mr Ajuri Ngelale, the President’s Special Adviser on Media and Publicity.

By Aduragbemi Omiyale The popular Ajose Adeogun Street and Roundabout on Victoria Island, Lagos, is wearing a new look, thanks to Zenith Bank Plc, which designed the areas with beautiful Christmas decorations. The yearly ritual of the financial institution is a part of its Corporate Social Responsibility initiatives aimed at setting the tone for the Christmas and Yuletide seasons. Performing the Light-Up ceremony, the 17th of its kind recently, the chief executive of Zenith Bank, Mr Ebenezer Onyeagwu, expressed his delight in heralding the 2023 Yuletide season by lighting up the iconic Ajose Adeogun Street and Roundabout. He urged everyone

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 Kestér Kenn Klomegâh The Corporate Council on Africa (CCA), the leading US business association that focuses solely on connecting business interests between the United States and Africa, has indicated its strong commitment towards holding the 15th US-Africa Business Summit (USABS) in July in Gaborone, Botswana. The 15th USABS theme Enhancing Africa’s Value in Global Value Chains will highlight multi-dimensional issues that were heavily discussed during the business forum held on the second day of the US-Africa leaders’ summit in Washington. The decision was taken during the last US-African leaders gathering held under the chairmanship of President Joe Biden. The

By Dipo Olowookere The Nigerian Stock Exchange (NSE) reversed the gains recorded on Monday to close bearish on Tuesday after shedding 0.08 percent to leave the year-to-date loss to 15.23 percent. However, the volume of shares transacted by investor at yesterday’s session increased by 189.29 percent from 120.8 million to 349.5 million, while the value rose by 9.43 percent from N1.3 billion to N1.5 billion. Business Post reports that despite the increase of trading activities on Tuesday, 21 stocks recorded price depreciation, while 20 stocks grew their values. It was not a pleasant day for Unilever Nigeria as its shares

A new survey has revealed Nigerians believe collaboration and knowledge sharing are key tools to creating a better world future. Commissioned by Expo 2020 Dubai, and conducted by YouGov, the Global Optimism Outlook Survey tracked people’s priorities for the future, looking at sustainability, economic growth, technology, travel, and more. More than 20,000 people across 23 countries were surveyed, broken down by geographic region, gender, employment, marital status, and income. Despite the breadth of diversity, it appears the majority of the world is closely aligned when it comes to the key issues facing the planet’s future. Unlocking future opportunity According to

By Dipo Olowookere The position of Leadway Assurance as Nigeria’s most valuable insurance service provider received further boost last weekend as the insurer was named Insurance Company of the year at the 2018 Business Day Banking and Financial Institutions (BAFI) Awards. At the event held in Lagos on Friday, November 23, the Divisional Director, Life Sales at Leadway Assurance Company Limited, Mr Oluwafemi Adebayo, noted that the honour was an acknowledgement of firm’s iconic position as a path-finder as well as an innovation driver in the insurance segment of the nation’s financial sector. The BusinessDay Banking and Financial Institutions Awards

By Adedapo Adesanya A property investment company, UBN Property Plc, helped the NASD Over-the-Course (OTC) Securities Exchange up by 0.01 per cent on Wednesday, November 23, as the market continues to battle weak investor sentiment. The company recorded a 1 Kobo gain to sell at N1.00 per share compared with the previous day’s value of 99 Kobo per share and this growth raised the market capitalisation of the unlisted securities bourse by N60 million to N935.52 billion from N935.46 billion. Equally, the value of the NASD unlisted securities index (NSI) increased at the close of transactions yesterday by 0.04 points

By Adeniyi Ogunfowoke Antivirus doesn’t necessarily mean your system is secured especially if you are always online. When on the World Wide Web, you may unknowingly download a file embedded with viruses and your so called antivirus may not alert you. Hackers have developed or evolved smart ways to gain entry into your personal system to steal vital information. They make the virus less conspicuous. Besides, it is not only when you are online that a system can be infected. It is, therefore, important to look out for signs that will let you know if your laptop is infected. We

By Dipo Olowookere Oyo State government has shut down a hatchery of NPG factory located at Oluyole area of the state, over a suspected case of Avian flu commonly known as bird flu. The decision, conveyed by the Special Adviser to Governor Abiola Ajimobi on Agriculture, Professor Segun Adekunle, on Sunday, followed the spread of the virus at NPG main factory in Egbeda area of Ogun state, with the Oluyole farm as hatchery. Acting on a hint by the Ogun State Ministry of Agriculture on September 6, 2017, Mr Adekunle had on Saturday led a team of officials from the

By Modupe Gbadeyanka The Nigerian National Petroleum Company (NNPC) Limited has been advised by the House of Representatives to consider opening more petrol depots across the country to solve the incessant scarcity of the product. While passing a motion moved by a member of the lower parliament on Thursday, Mr Uju Kingsley, it was stressed that this move will go a long way to put an end to the regular long queues that appear at fuel stations every now and then. The lawmaker argued that Nigeria has insufficient depots to store petroleum products, which he said was responsible for the