NPF Microfinance Bank Digitalises Operations for Efficiency

By Modupe Gbadeyanka It was a double reward for a foremost microfinance institution, Advans Nigeria, at the recently concluded Marketing Edge Awards in Lagos. The firm, a subsidiary of Advans Group, was announced as the Most Innovative Microfinance Bank of the Year and the Most Customer-centric Microfinance Bank of the Year. The double awards are coming after the organisation was recently named as The Best in Retail Banking of the Year at the Pan African International Award. Advans Nigeria won the accolades due to its top-notch financial services and unwavering commitment to its customers. “We are immensely proud to receive

By Adedapo Adesanya Yellow Card has joined forces with MoonPay, a global leader in the cryptocurrency ecosystem, towards expanding cryptocurrency accessibility in Nigeria by leveraging local bank transfers. Despite a ban on trading via official channels, Nigeria has emerged as a powerhouse in the African cryptocurrency landscape, with increasing numbers of individuals turning to digital assets to hedge against inflation and economic uncertainty. The volatility in the local crypto market, marked by the recent challenges faced by various crypto companies in Nigeria, has underscored the critical need for a stable and reliable means of accessing cryptocurrencies. This partnership between both

By Dipo Olowookere The Deputy Governor of the Central Bank of Nigeria (CBN) in charge of Financial System Stability, Mrs Aishah Ahmad, has been apprehended by the Department of State Services (DSS). The central banker was arrested by the country’s secret police to harvest vital information from her over the sale of a first-generation bank, Union Bank of Nigeria Plc, to a relatively new lender, Titan Trust Bank Limited. The acquisition of the more than 100-year-old financial institution by the less than 5-year-old bank raised eyebrows because the buyer coughed out $300 million to complete the transaction. Titan Trust Bank

By Dipo Olowookere US Ambassador to Nigeria, Mr Stuart Symington, has commended the IITA Youth Agripreneurs (IYA) program, saying he is convinced and compelled to share the ‘Farming is cool’ gospel of the IYA with the rest of the world. “I will join in telling your stories to the world. They are worth sharing, and I will do so to prospective investors. “IITA has finally provided an answer to the lingering question of how to make agriculture cool and attractive for people to embrace as a business,” Mr Symington stated. The US envoy was at the IITA on Monday, June

By Dipo Olowookere The presidency has reacted to the call made by the present Senate Minority Leader, Senator Enyinnaya Abaribe, that President Muhammadu Buhari should resign from office over insecurity in the country, describing this as “foolish.” In a statement issued on Wednesday by Mr Garba Shehu, the Senior Special Assistant to the President on Media and Publicity, the presidency asked on what basis should President Buhari resign? “President Buhari is working hard to keep Nigeria and Nigerians out of the harm terrorists have unleashed in the entire Sahel and Sub-Saharan Africa with the support of Nigerians and our foreign

Founder and former Chairman/CEO of Solera Holdings, Mr Tony Aquila, has announced his retirement from the company. Solera Holdings is a global leader in risk and asset management data & software and the preeminent service solutions (SaaS) for the automotive and insurance industries. After his exit from the company he set up some years ago, Mr Aquila will be succeeded by Mr Jeff Tarr, the new CEO. Since 2005, Mr Aquila has brought about a digital evolution of the insurance industry, starting with the processing of insurance claims. During his tenure, the company grew into a global giant employing over

By Adedapo Adesanya The local currency for the first time in five straight trading sessions recorded a movement against the United States currency at the Investors and Exporters (I&E) window of the foreign exchange (FX) market. On Thursday, the Naira appreciated by 27 kobo or 0.06 per cent after it had maintained stability against the greenback at the I&E segment for four trading sessions to close at N414.80/$1 compared with N415.07/$1 it finished on Wednesday. This occurred as the turnover for the trading session retreated by 37.4 per cent or $83.51 million as trades worth $139.67 million were carried out

By Dipo Olowookere Chairman of BUA Cement, Mr Abdul Samad Rabiu, has announced the donation of an additional N3.3 billion for the fight against Coronavirus especially in Lagos and Kano States. The home state of the billionaire businessman, Kano, had been in the news recently as a result of the rate of death in the ancient city. Worried by this, Mr Rabiu, who had earlier donated a huge sum of money to the Nigerian government for COVID-19, said the new donation should be used to equip two existing permanent facilities in Kano and Lagos States. “I view with deep concern,

By Dipo Olowookere Senate President, Mr Bukola Saraki, has condemned an attack in Offa, Kwara State on Thursday evening, which led many dead, including police officers. In a statement personally signed by him on Friday, Mr Saraki, a former Governor of Kwara State, said he was saddened by the incident. The lawmaker, who described the incident as “despicable” and the perpetrators as “cruel individuals,” said there can never be any valid grounds or rationale behind such violence that has left many families without their loved ones, and one more community in grief and shock. Mr Saraki said he spoke to

By Timi Olubiyi Across the world, the impact of the novel coronavirus is still severe despite the ease of lockdown for economic reasons. The uncertainty continues to heighten and no economy is spared from the fall-out from the COVID-19 outbreak. Many African capital markets are bearish, Namibia, South Africa, Mauritius, Egypt, Morocco, Kenya, Ghana, Malawi, and a few others. In Nigeria, the first quarter of the year 2020 in terms of performance closed in the red with a negative return of (20.65 percent), as against a negative return of (1.24 percent) in the first quarter of 2019. The market capitalization

By Adedapo Adesanya As the United Kingdom continues to wean itself off the European Union, the government on Friday launched a new scholarship programme for schools, colleges, and universities to replace the bloc’s Erasmus+ scheme as part of post-Brexit arrangements. Named after English mathematician and World War II hero, Alan Turing, the £110 million ($153 million) programme will fund 35,000 global exchanges from September, including university study, school exchanges, and industry work placements. Speaking on the initiative, the British Prime Minister, Mr Boris Johnson, said, “The Turing Scheme is a truly global programme with every country in the world eligible