Stanbic IBTC Wins Best Sub-Custodian in Nigeria for 8th Year

By Modupe Gbadeyanka Momentum is already gathering for the 2023 edition of Hackaholics Digital Summit organised by Wema Bank Plc, owners of the foremost digital lending firm, ALAT by Wema. The event is dubbed Africa’s largest gathering of innovators, disruptors, regulators, policymakers, investors & customers in the digital space. A statement from the bank disclosed that this year’s programme will take place in Lagos on Friday, October 6, with attendance by invitation only, though interested customers and technology enthusiasts can secure a spot by registering at https://hackaholics.wemabank.com/digital-summit. The theme, according to the organisers, is Re-Imagine: Disrupting the Ecosystem for Scale,

By Adedapo Adesanya Neo-bank, PayDay, may get a new owner as its founders, which include Mr Favour Ori, are considering a sale in the coming months, per sources who spoke exclusively with TechCabal. According to the report, the company is in the process of being sold, with some developments that followed the exit of its co-founder and Chief Operating Officer (COO), Mrs Yvonne Ogechi Obike. In March, the company raised $3 million to expand its footprint into the United Kingdom and Canada. This round was led by Moniepoint Inc. and saw contributions from HoaQ, DFS Lab’s Stellar Africa Fund, and

By Dipo Olowookere Schools have been urged to choose Ecobank Nigeria Limited as their preferred financial institution for fee payments and collections because of the exciting advantages the lender offers. The Head of Consumer Banking at Ecobank, Mrs Korede Demola-Adeniyi, made this appeal while rolling out the special loan packages designed by the bank for its back-to-school initiatives. Mrs Demola-Adeniyi said the financial institution created some packages for parents, guardians and schools in line with its overall strategy to support the development of the nation’s education sector. According to her, there is a Banking-for-School pack for educational institutions to access

By Dipo Olowookere In a bid to work out ways to proffer a permanent solution to the traffic gridlock currently being experienced at the Chevron roundabout on the Eti-Osa/Lekki-Epe Expressway, Lagos, especially during rush hour, the management of Lekki Concession Company Limited (LCC) has met with Chevron Nigeria Limited. Managing Director of LCC, Mr M.M. Hassan, and the Chevron delegate led by its Security Operations Manager, Dr Olusoji Fakunle, during a meeting at the LCC’s head office, Conservation Toll Plaza, Eti-Osa/Lekki-Epe Expressway, fine-tuned modalities to ease the traffic on the expressway. It was gathered that following the conversion of the

By Dipo Olowookere Nigerian authorities have commenced discussions with aircraft manufacturers and investors towards the unveiling of the national carrier, which is expected to be launched before the end of this year. Minister of State for Aviation, Mr Hadi Sirika, who disclosed this on Monday via a statement issued by the Deputy Director in charge Media and Public Affairs at the ministry, Mr James Odaudu, said he was at the ongoing Farnborough International Air Show in the United Kingdom to woo investors on this laudable initiative. The country used to have a national carrier, Nigeria Airways, but was liquidated by

** Feeding Nigeria’s 200m People Huge Business By Modupe Gbadeyanka Managing Director and CEO of First Bank of Nigeria, Dr Adesola Adeduntan, has disclosed that Nigeria imports nearly a shipload of rice every week despite the nation being one of the most agriculturally fertile countries in Africa. The challenge, according to Mr Adeduntan, is that the land is used by subsistence farmers, and is yet to be fully commercialised. In an interview with World Finance, the First Bank boss explained how the lender is helping farmers to form cooperatives in order to finance the right agricultural inputs and equipment. He

By Adedapo Adesanya FrieslandCampina Wamco Nigeria Plc made the NASD Over-the-Counter (OTC) Securities Exchange close 0.44 per cent lower on Thursday, neutralising the effect of the lone price gainer during the session. Business Post reports that Afriland Properties Plc appreciated by 9 Kobo yesterday to settle at N3.25 per share compared with Wednesday’s closing price of N3.16 per share. But it could not offset the N2.50 loss posted by FrieslandCampina during the session, closing at N76.00 per unit, in contrast to the previous day’s N78.50 per unit. Consequently, the market capitalisation of the NASD Exchange shrank by N4.76 billion to

By Modupe Gbadeyanka The Lagos State government has said it has no plan to shut down schools in the state over non-compliance with the January 4 resumption directive. It was reported last week that the state government was furious with some schools for disobeying the resumption order, with sanctions threatened. The issue generated reactions and the Director-General of the Office of Education Quality Assurance (OEQA), Mrs Abiola Seriki-Ayeni, in a statement on Sunday dismissed the reports, saying such action would be counterproductive. However, she stressed that most schools complied with the directive as 640 out of the 720 schools visited

By Modupe Gbadeyanka The presidency has reacted to the 6.10 per cent decline in the nation’s Gross Domestic Product (GDP) for the second quarter of 2020 as released by the National Bureau of Statistics (NBS) on Monday. In a statement issued on Wednesday by the Special Adviser to the President on Media and Publicity, Mr Femi Adesina, the presidency said the shrinking of Nigeria’s economy in the period under review was expected. However, Mr Adesina said when compared with GDPs of advanced countries around the globe, Nigeria did not do badly. “It also appears muted compared to the outcomes in

By Modupe Gbadeyanka It is no doubt that the local stock market has been on the downtrend for some weeks now, but for smart investors, the best time to buy stocks is when the market is down because prices are very low and when the market begins to pick, you can then sell to make profit. For those who have the balls, this is the time to enter the market and select some fundamentally sound stocks at the market. Analysts at Meristem Research have listed five equities investors can keep a close tab on in this trading week and they

By Modupe Gbadeyanka More important personalities in the country are throwing their weights behind a book being put together by a celebrity journalist, Mr Lanre Alfred, titled Nigeria @60: Foremost Nigerians of the Last 60years. Mr Alfred is the former Society Editor of ThisDay newspaper and his book is aimed at recounting the national history and put on display the roles of the selected players in national development over the years. It also presents a challenge for those key players, who are alive to strive to improve on their roles while also giving the rest of the citizenry the opportunity