NSE, FMDQ Admit Sterling Bank’s N33b Bonds

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 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 Adedapo Adesanya The Central Bank of Nigeria (CBN) has unveiled a digital platform for the submission of Microfinance Bank (MFB) licence applications with effect from Monday, September 25. The apex bank made this known in a statement signed by its Director of Corporate Communications, Mr Isa AbdulMumin. “The Central Bank of Nigeria (CBN) is pleased to announce the unveiling of a new online platform for submission of microfinance bank (MFB) licence applications,” the statement released on Wednesday said. According to the statement, the new online platform is called the CBN Licensing, Approval and Other Requests Portal (CBN LARP) and

By Modupe Gbadeyanka The brutal attack on the immediate past Deputy Senate President, Mr Ike Ekweremadu, at a function in Germany on Saturday by some Nigerians of the South East extraction has been condemned by federal government. Chairman/CEO of Nigerians in Diaspora Commission, Mrs Abike Dabiri-Erewa, in a statement signed by her on Sunday, described the unfortunate incident as not only “shamefully pathetic,” but an “embarrassment to the country.” She said it was wrong for the culprits to use the 2nd Annual Igbo Cultural Festival held in Nuremberg, Germany to embarrass and humiliate the current serving senator of the Federal

By Ashemiriogwa Emmanuel The revenue generated by Nigeria as Company Income Tax (CIT) across sectors in the second quarter of 2021 grew by 20.2 per cent quarter-on-quarter, the National Bureau of Statistics (NBS) has said. Also, the stats office disclosed that the income from the source also increased by 17.4 per cent year-on-year. It was stated that in Q2 2021, a total of N472.1 billion was realised from all the 28 sectors tracked by the agency compared to N392.7 billion generated in the first quarter of the year. In the report, it was disclosed that N412.7 billion out of the

By Dipo Olowookere The Securities and Exchange Commission (SEC) has been accused of making ‘deliberate’ efforts to frustrate Oando Plc and possibly get it out of business. These accusations were made on Wednesday by some minority shareholders of the energy firm at a news briefing held in Lagos to frown at the decision of SEC to cancel the Annual General Meeting (AGM) of the company earlier scheduled for Tuesday, June 11, 2019 in the metropolis. Addressing journalists at the press conference, the shareholders wondered what special interest the apex capital market regulator has in Oando and why it allegedly wants

By Dipo Olowookere A total turnover of 1.171 billion shares worth N11.458 billion in 13,763 deals were traded by investors this week on the floor of the Nigerian Stock Exchange (NSE) in contrast to a total of 2.311 billion shares valued at N24.577 billion that exchanged hands last week in 27,836 deals. The drop in the volume and value of transactions recorded might be attributed to the brief trading periods this week as the Federal Government declared Monday 26 and Tuesday 27, 2017 as public holidays to observe the end of the Holy Month of Ramadan and Eid al-Fitr celebrations.

By Adedapo Adesanya The House of Representatives Committee on Public Accounts has summoned the Nigeria Customs Service (NCS), the Federal Inland Revenue Service (FIRS), and the Oil and Gas Free Zone Authority (OGFZA) over allegations of non-remittance of taxes to the federation account. The resolution followed an interactive session with major stockholders in the oil sector at the National assembly. Members of the committee sought to know if Tenaris Global Services Nigeria Ltd remitted taxes to the relevant government agencies. The company appeared before the House Committee following a petition by the Office of the Auditor General of the Federation

By Modupe Gbadeyanka A business grant of N10 million is available for members of the National Youth Service Corps (NYSC) service in various states across Nigeria. The funding package is being provided for by Unity Bank Plc through its flagship entrepreneurial development initiative, Corpreneurship Challenge. The scheme is in its eighth edition this year and will benefit corps members across 10 locations in the country, including a debut in Delta and Rivers States. Recall that in 2019, the retail lender commenced the Corpreneurship Challenge scheme in Abuja, Lagos, Edo and Ogun States but with the increasing traction among corps entrepreneurs,

By Akin Adewakun The term, innovate or die, is no longer new in marketing parlance. Interestingly, the nation’s economic weather,  which manufacturers and consumers are increasingly finding very unbearable, has made this term very apt in today’s survival battles among brands. Presently, no market segment is this suitably demonstrated than the nation’s dairy market. For instance, since milk intake is fast becoming a luxury among Nigerians, despite its very significant benefits to the individual’s health, brands playing in this market are being left with no other option than to either innovate and come up with new ideas of bonding their

By Modupe Gbadeyanka One of the leading international banking groups in Africa, Standard Chartered Bank, has launched its digital bank in Côte d’Ivoire. The official launch of the digital bank was attended by top executives of the lender as well as senior government officials in Côte d’Ivoire, including the Minister of Information Technologies and Communication, Mr. Bruno Nabagné Kone, and sporting legend and Ivorian icon, Mr Didier Drogba. Speaking during the ceremony, the bank’s Regional CEO for Africa and Middle East, Mr Sunil Kaushal, stated that, “We are pleased to launch our first digital bank in Africa with the support