Shareholders Exit Access Bank Amid GMD Arrest Rumour

It’s that time of year again! The season of giving is here and Access Bank is dialing up the festive cheer with the much-anticipated AccessMore 12 Days of December campaign. Brace yourself for an extraordinary opportunity as 100 fortunate customers stand a chance to pocket N10,000 shopping vouchers daily, from December 1 to December 12, 2023. Prepare to unwrap joy as Access Bank transforms the spirit of giving into a twelve-day celebration unlike any other! Now, picture yourself as one of the lucky individuals to benefit from the 12 Days of December campaign. Here are five ways you can join

By Aduragbemi Omiyale DataPro and Agusto & Co have upgraded the credit ratings of a Lagos-based development investment bank, DLM Capital Group, following an improvement in its credit risk and liquidity risk management. DLM Capital Group is a company with many subsidiaries, including DLM Advisory, DLM Asset Management, DLM Securities, CitiHomes Finance Company, DLM Nominees, DLM Trust Company, Sofri Bank (LINKS MFB), and DLM FX. The group provides innovative solutions to economic and social developmental challenges that impact the everyday lives of people. In its rating assessment, the pan African credit rating agency, Agusto, explained that it upgraded DLM Capital

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 Modupe Gbadeyanka A Nigerian lender, Fidelity Bank Plc, has agreed to adopt the single framework for a sustainable banking industry developed through collaboration between banks worldwide and the United Nations Environment Programme Finance Initiative (UNEP FI). Called the UN Principles for Responsible Banking (PRB), the initiative is a structure for ensuring that banks’ strategy and practices align with the vision society has set out for its future in the UN Sustainable Development Goals and the Paris Climate Agreement. Banks which have signed the principles commit to being ambitious in their sustainability strategies, working to mainstream and embed sustainability into

By Timi Olubiyi, PhD In the country, apart from the known business challenges such as the decrepit infrastructure, inconsistent government policies, double taxation, regulation irregularities and the pandemic disruptions in recent times, overwhelmingly, lack of capital or funding issues contribute majorly to business failures. According to findings of several surveys, one of the top challenges faced by entrepreneurs and businesses in Nigeria today is access to funding. Seemingly, funding is the bloodline of any form of business, therefore, whether it is a startup, nano, micro, small or medium-sized business, or an established large firm, knowing how to raise capital can

By Modupe Gbadeyanka A total of N685.3 billion was generated as revenue by Dangote Cement Plc in the first nine months of 2018. This information was revealed in the financial statements of the firm released today to the Nigerian Stock Exchange (NSE). In the third quarter earnings analysed by Business Post, this amount was 13.54 percent higher than what was raked in the same period of last year, N603.6 billion. Dangote Cement is the most capitalised company trading its shares on the local bourse. In the results, the cement maker said its gross profit stood at N397.6 billion versus N343.7

By Modupe Gbadeyanka The NASD OTC Market ended this week with an increase in market metrics, with the main index closing in the green zone. During the week, the NASD USI appreciated by one percent, closing at 698.78 points as against 692.47 points last Friday. Consequently, total market capitalisation appreciated closing higher at N470.17 billion compared with N468.62 billion last Friday. Business Post reports that during the three-day trading week, Central Securities Clearing System (CSCS) Plc gained 12.86 percent to close at N11.50k against N10.18k it previously traded. Leading the losers chart was Afriland Properties Plc, which went down by

By Dipo Olowookere Chairman of the Lagos State chapter of Christian Association of Nigeria (CAN), Apostle Alex Bamgbola, has described the sack of Presiding Chaplain of Chapel of Christ the Light, Alausa, Ikeja, Lagos, Venerable Femi Taiwo, has one perfectly in order. He said the Governing Council of the church, owned by the Lagos State government, “acted within its constitutional authority to terminate the appointment of Venerable Taiwo.” Mr Bamgbola made this disclosure at a press conference on Tuesday in Lagos. He said, “The Governing Council has the constitutional responsibility and authority to recruit and to terminate two officers who

By Investors Hub European stocks are subdued on Thursday as corporate earnings start trickling out and investors eye the latest ECB minutes for signs whether the central bank will start withdrawing its stimulus policies earlier than expected. While the U.K.?s FTSE 100 Index is just below the unchanged line, the French CAC 40 Index is down by 0.2 percent and the German DAX Index is down by 0.3 percent. In economic news, the German economy expanded at the fastest pace in six years in 2017, data from Destatis showed today. GDP grew 2.2 percent in 2017 after expanding 1.9 percent

By Kester Kenn Klomegah The St. Petersburg International Economic Forum 2018, one of the annual international platforms that brings together political, industry and business leaders to discuss the most pressing issues affecting global economics, development and finance, will take place on May 24 to 26 in St. Petersburg, Russia. Ahead of the forum, the official website of the President of the Russian Federation has published his welcome greetings to participants, organisers and guests. In his greetings, Putin expressed his confidence that ideas and initiatives to be developed during the forum would facilitate the recovery and growth of the world economy.

By Professor Maurice Okoli Johannesburg was the scene for the 15th BRICS — Brazil, China, India, Russia and South Africa — summit held in late August, during which leaders raised the African Union’s permanent seat in the G20. In early September, New Delhi is the scene for the G20 summit to discuss the changing geopolitical situation and global development and most likely to make historic approval of AU’s permanent seat in G20. South Africa and India are both members of BRICS and are both members of G20. President Cyril Ramaphosa witnessed two new African States (Egypt and Ethiopia) entry into

By Modupe Gbadeyanka To further secure Automated Teller Machine (ATM) card information as well as all payments on its platform, the leading e-hailing app, Bolt, has implemented a 3DS security update. A statement from the organisation disclosed that this system is an authentication protocol that aims to protect against fraud and enhance security in online card payments. It stated that the security update on card trips on Bolt shows the platform’s commitment to easing mobility in the country. The new feature also further strengthens Bolt’s capacity to ensure all-around safety and security on the platform for all. This is in