Stanbic IBTC Board Meets to Discuss Dividend, Financial Results

By Modupe Gbadeyanka A partnership for the deployment of a patronage reward product has been entered into between Unity Bank Plc and Cashtoken, a cash reward-as-a-service company that operates a loyalty programme designed to power customer engagement and improve customer satisfaction. This collaboration will see the bank’s customers winning millions of Naira in cash rewards and guaranteed instant cashback. A statement issued by Unity Bank said this scheme provides an opportunity to migrate old and new customers to a platform that will continually create exciting rewards and appreciation for loyalty. It said this initiative would not only reward existing customers

By Aduragbemi Omiyale The banking subsidiary of Stanbic IBTC Holdings Plc, Stanbic IBTC Bank Plc, has been re-registered with the Corporate Affairs Commission (CAC) as a private firm. A statement from the parent organisation disclosed that the conversion was done as a result of brand confusion among investors and members of the public. It was stated that some investors confuse the parent company with the banking business and to clear the confusion, the banking arm of the firm has been changed to a private limited liability company from a public liability entity. Stanbic IBTC said it has obtained regulatory approvals

By Modupe Gbadeyanka A global provider of audit and certification services, MSECB, has issued a certification to Access Bank Plc for its Anti-Bribery Management System. The certification was issued to the Nigerian lender after implementing effective measures and fostering a culture of integrity within its system and operations. With this certification, Access Bank aims to provide its customers with the highest level of confidence in the bank’s unwavering integrity, assuring them of its zero-tolerance policy for bribery and ethical misconduct, thus fostering a positive relationship, and building trust and credibility among its stakeholders, including customers, partners, and investors. The bank

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 Dipo Olowookere President Muhammadu Buhari will travel to Senegal for the third Dakar International Forum on Peace and Security in Africa, which holds on Monday, December 5 and Tuesday, December 6, 2016. The theme of the two-day forum is ‘Africa and its Security Challenges: Perspectives for Effective Solutions.’ At the event, Mr Buhari will participate in the Panel of Heads of State on Tuesday. He will use the occasion to continue his active engagement with political authorities on the need for enhanced security cooperation in the region. The programme, convened by President Macky Sall of Senegal, with support from

The acquisition of a majority stake in a global leader in Environmental, Social and Governance (ESG) research, data and assessments firm known as Vigeo Eiris has been announced by Moody’s Corporation. This furthers strengthens Moody’s objective of promoting global standards for ESG for use by market participants. With products and capabilities based on ESG assessments and an extensive ESG database, Vigeo Eiris offers specialized research and decision-making tools for sustainable and ethical investments. Vigeo Eiris will continue to be headquartered in Paris, operating under its existing brand, and it will be an affiliate of Moody’s Investors Service. The acquisition recognizes

For the first time this week, transactions on the floor of the Nigerian Stock Exchange (NSE) ended on a positive note. This was due to the gains posted by Nestle Nigeria and some other high-cap equities trading on the local bourse. The market closed 0.47 percent higher on Thursday to put a halt to the negative trends at the exchange in the past days. The main barometers of the NSE, the All-Share Index (ASI), went up by 140.35 points yesterday to finish at 29,749.35 points, while the market capitalisation increased by N62 billion to settle at N13.110 trillion. Despite the

By Adedapo Adesanya Nigeria has begun its long journey to end hunger and achieve food security by launching the Special Agro-industrial Processing Zones (SAPZ). The launch ceremony in Abuja on Monday kick-starts the implementation of phase one of the SAPZ program in eight states across the country. These include – Cross River, Imo, Kaduna, Kano, Kwara, Ogun, Oyo, and the Federal Capital Territory, Abuja. The SAPZ program has already garnered huge momentum as an additional 19 state governments have expressed strong interest in participating in the program. The African Development Bank (AfDB) is providing funding of $210 million, with the

By Nneka Okumazie The suddenness of things that happen in this world that the mind cannot understand or that knowledge cannot explain is a constant reminder of much – beyond the known, or seen. The edge that every life is, remains disregarded until something goes wrong. The roles of caution and safety are indispensable, but sometimes limited, in the moment of tragedy. It is often like time should reverse or the move shouldn’t have been made. The feeling of powerlessness overtakes – with hard pain and unbearable grief. There are questions, and there’s anger. There is the reasoning of the

By Modupe Gbadeyanka Residents of Lagos State have been implored to support government in maintaining a cleaner environment and to shun all forms of indiscriminate waste disposal capable of exposing the populace to environmental health dangers. This appeal was made by the Managing Director/CEO of Lagos Waste Management Authority (LAWMA), Mr Olumuyiwa Gbadegesin, during his inspection of the agency’s operations in the Apapa area of the state. Mr Gbadegesin said there would be zero tolerance against such acts and defaulters would be apprehended and prosecuted to serve as deterrent to others. “We are calling out to people statewide that we

By Investors Hub European stocks are mixed on Tuesday as investors monitored currency movements and looked ahead to further progress in Brexit talks and U.S. tax reform. While the U.K.’s FTSE 100 Index has inched up by 0.1 percent, the German DAX Index is down by 0.2 percent and the French CAC 40 Index is down by 0.4 percent. In economic news, business activity across the euro zone accelerated to its fastest pace in over six years in November, data showed. IHS Markit’s final composite PMI was confirmed at an earlier flash reading of 57.5. Allied Irish Banks has rallied

By Dipo Olowookere The Lagos State government has announced its intention to refund the sum of N141,000 to each of pilgrims going for the Hajj in Mecca, Saudi Arabia from the state. A statement issued by the state government yesterday disclosed that the refund was in line with the recommendation of the National Hajj Commission (NAHCOM), the agency in charge of pilgrimage to Mecca in Nigeria. It was stated that the development followed the review of the cost of the pilgrimage by the commission, which led to the reduction of the fare already paid by the pilgrims across the nation.