Report Suspicious Transactions to us—EFCC Tells Banks

By Bliss Okperan A digital investment platform known as AltInvest has been introduced by a new kid in the banking industry in Nigeria, Alternative Bank. According to the non-interest lender, which commenced operations in October 2023, the new product empowers individuals to navigate seamlessly the investment world, blending ethical and digital features for increased accessibility. At the unveiling of the innovative financial solution at the 44th Kano International Trade Fair, the company also launched another produced AltBiz, which it said caters to the financial needs of businesses, offering a comprehensive suite of services to fuel growth, innovation, and sustainability. “These

By Modupe Gbadeyanka A cutting-edge German-Nigerian financial technology (fintech) firm, BFREE, plans to put down $40 million to acquire some distressed loan portfolios in Union Bank of Nigeria. A statement from the Nigerian lender said both parties signed a Memorandum of Understanding (MOU) in Berlin on November 21, 2023, at the German-Nigerian Business Forum. It was disclosed that BFREE would partner with its international financing partners to refinance bad loans from Union Bank, particularly those delayed in repayment or already written off. Union Bank expressed its optimism that this strategic partnership with BFREE would not only bolster the bank’s financial

By Adedapo Adesanya One of Africa’s biggest financial institutions, Access Bank, is close to finalizing a regulatory process to launch its first full banking service in Asia in the first quarter of 2024. This was disclosed by the chief executive of its holding company, Mr Herbert Wigwe, on the sidelines of the Africa Financial Industry Summit in Lomé, Togo, as per Semafor. The Nigerian lender’s plan to enter the Asian market is part of a wider global expansion target which includes a strategy to expand more deeply into Francophone Africa, build closer ties with North Africa, and across Europe where

By Modupe Gbadeyanka Access Bank Plc has expressed its determination to support initiatives that promote knowledge, integrity, and the enduring legacy of excellence in the legal profession. The chief executive of Access Holdings, the parent firm of the lender, Mr Herbert Wigwe, while speaking at the launch of a book to honour Justice Amina Adamu Augie on Tuesday, November 28, 2023, said the financial institution has a strong affinity for the preservation and advancement of country’s judicial heritage. “We are proud to support the launch of Wisdom and Integrity: The Legacy of Honourable Justice Amina Adamu Augie JSC CON Through

By Modupe Gbadeyanka Security operatives in the country have been given the directive by President Muhammadu Buhari to deal decisively with any hoodlum who tries to hide under lawful and peaceful protests to cause mayhem. The President, while speaking on Monday at the opening ceremony of the Chief of Army Staff’s Annual Conference 2020, noted that his administration will not allow anyone to destabilise the peace of the nation. The conference themed Human Capacity Development in Sustaining Professionalism and Responsiveness of the Nigerian Army in the Discharge of its Constitutional Roles provides an avenue for the leadership of the army

By Adedapo Adesanya Profit-taking amid continued tight supply weakened oil prices on Wednesday as producers stuck to the planned moderate output increases for March. The Organisation of the Petroleum Exporting Countries and its influential energy partners known as OPEC+ swiftly decided to green-light the return of 400,000 barrels per day for March. The move, widely expected by energy analysts, marks a continuation of the group’s strategy to gradually reopen the taps. Led by Saudi Arabia and non-OPEC leader Russia, the energy alliance is in the process of unwinding record supply cuts of roughly 10 million barrels per day. The historic

By Investors Hub Asian stocks ended mostly higher on Thursday as upbeat U.S. earnings news helped offset investor concerns surrounding Brexit and the U.S.-China trade war. While luxury electric car maker Tesla reported a surprise third-quarter profit, software giant Microsoft’s quarterly earnings were boosted by cloud and Office revenues. Chinese stocks closed on a flat note as caution crept in ahead of a crucial meeting of the ruling Communist Party next week. The benchmark Shanghai Composite Index finished marginally lower at 2,940.92, while Hong Kong’s Hang Seng Index gained 0.9 percent to close at 26,797.95. Japanese shares hit over a

By Adedapo Adesanya Hot on the heels of the recent launch of the G11 and G21, HMD Global, the home of Nokia phones, has announced three new Nokia C-series smartphones –the C21, C21 Plus and C2 2nd edition. According to the company, this is in response to success for Nokia smartphones within the affordable smartphone market, which saw a 41 per cent smartphone revenue growth for HMD increase from 2020 to 2021 and the company reached its first full year of operational profitability in 2021. Forecasting one million subscriptions to its Services Suite in the first half of this year,

By Dipo Olowookere Governor Rotimi Akeredolu of Ondo State has promised investors of an enabling environment, saying his administration was determined to boost the economy of the state. Speaking on Wednesday at his office in Akure, the Governor said Ondo will not make the mistake Nigeria made some years ago, where industries left the country for friendly environments. “When factories left in Nigeria, we felt bad but we can’t blame them because they didn’t have enabling and accommodating economic atmosphere. “I can assure you it will be a thing of the past in Ondo State if not Nigeria, for factories

By Dipo Olowookere Oil giant, Total Nigeria Plc, recorded a loss before tax of N137.0 million in the first quarter of 2020, lower than the pre-tax loss of N418.3 million in the same period of 2019. Also, the energy firm posted a loss after tax of N163.2 million in contrast to N474.1 million recorded in the same time of last year, indicating a 66 percent reduction. In the period under review, the revenue generated by the company decreased to N70.2 billion from N77.4 billion. This was largely impacted by decline in the sale of petroleum products, which dropped to N57.2

By Aduragbemi Omiyale The Divisional Head of Capital Markets at the Nigerian Exchange (NGX) Limited, Mr Jude Chiemeka, has said the earth’s sustainability has a close link to individual financial health. He gave this submission on Tuesday in Lagos at an event to raise awareness on the importance of ensuring that young people, from an early age, are financially aware and are gradually acquiring the knowledge, skills, attitudes and behaviours necessary to make sound financial decisions and ultimately achieve financial well-being and financial resilience. The stock exchange partnered with the Central Bank of Nigeria (CBN) and others to celebrate the

By Modupe Gbadeyanka A new film entitled CHARMED, which tells the story of a successful and cocky young man who has everything going for him until he suddenly begins to experience a run of bad luck, is about to hit the cinemas. According to information made available to us, the new movie will be released in the cinemas on Friday, November 23, 2018. CHARMED is a production of Verte View, written by Kemmie Ola, produced by Benjamin Abejide Adeniran and directed by Adeola Osunkojo. The flick stars Bimbo Ademoye, Elozonam, Omowunmi Dada, Chris Iheuwa, Moyo Lawal and BellaRose Okojie. Imagine