UBA Targets Huge Market With New Branch in United Arab Emirates

By Aduragbemi Omiyale Some aggrieved customers have accused Nigerian banks of lying about a few of their services in adverts in the media and not doing enough to assist when needed, despite using the provided platforms to lodge their complaints. In a survey conducted recently by a foremost perception consulting firm in the country, CMC Connect LLP, it was observed that some financial services consumers in Nigeria are not satisfied with what they get from their banks. The perception study carried out by the Strategy & Intelligence Service unit of CMC Connect showed that, “Consumers do not have enough information

By Modupe Gbadeyanka For supporting Micro, Small and Medium-scale Enterprises (MSMEs) with credit facilities, Ecobank Nigeria Limited has won big at the 2023 Development Bank of Nigeria (DBN) Annual Service Ambassador Awards ceremony held in Lagos. The DBN Ambassadors Programme was designed to increase the sense of ownership among participating financial institutions, build capacity, increase on-lending small businesses and ultimately deepen financial inclusion in Nigeria. Ecobank is a participating financial institution in partnership with DBN to provide credit facilities, credit guarantees and technical support to MSMEs. It got an award for Platinum Service Ambassador; Bank with the Highest Impact on

By Modupe Gbadeyanka Some displaced Renaissance homeowners in Rivers State are seeking about N4 billion as compensation from the management of First Trust Mortgage Bank over their eviction from the properties they acquired from the lender. They accused the bank, formerly known as FBN Mortgage Bank, of not carrying due diligence before selling some portions of land to them in 2010, about seven years after a Supreme Court judgement held that the land belonged to the favour of the Nigerian Air Force (NAF). The solicitors to property owners of Renaissance Homes Housing Scheme, Adeniji Kazeem & Co, in a letter

By Ashemiriogwa Emmanuel Chevron USA Incorporated, an energy company under the umbrella of the second-largest oil company in America, Chevron Corporation, together with Biofuel company, Gevo, have today announced intent to pursue sustainable aviation fuel investment. In a press release obtained by Business Post from the official website of Chevron, it was gathered that both companies want to jointly invest in building and operating one or more new facilities that would process inedible corn to produce sustainable aviation fuel. Hence, this can lower the lifecycle carbon intensity of fuels used in the aviation industry as the new facilities would also produce

By Sodeinde Temidayo David The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has kicked against the incessant kidnap and attacks on its members, calling on security agencies for protection. The association, in the same breath, also described the deplorable state of the Eleme section of the East-West road as shameful despite its economic importance to the country. The Port Harcourt Zonal Chairman of PENGASSAN, Mr Peter Onita, disclosed this in Port Harcourt during the group’s weeklong security awareness campaign in the state tagged Making Nigeria and Nigerians safer and more secure. He noted that members of the

By Adedapo Adesanya The Nigerian Institution of Mechanical Engineers (NIMechE) has launched its Internship and Mentorship online Platform (NIMP). The professional body said it is first of its kind in Africa and it has been designed to equip young mechanical engineers and students with valuable skills that will help them face the realities in the labour market and also contribute meaningfully to the nation’s economic development. Speaking at the launch, the National Chairman of NIMechE, Mr Mohammed Ndaliman, said “this will close the skill-gap for Nigerian Engineers to provide the needed technological leadership to drive the robust continental economic integration

By Adedapo Adesanya Crude oil prices settled higher on Friday, recouping some of this week’s losses on strong job growth data in the United States, but closed week-on-week at their lowest levels since February. Brent crude settled up by 80 cents to $94.92 a barrel while the US West Texas Intermediate (WTI) crude settled higher by 47 cents to $89.01 per barrel. The market, which has been rattled by worries a recession could hit fuel demand, clung to the bullish news that job growth in the world’s largest producer unexpectedly accelerated in July as nonfarm payrolls increased by 528,000 jobs,

By Dipo Olowookere The International Monetary Fund (IMF) has warned that if care is not taken, the foreign exchange reserves of Nigeria may decline to close to $32 billion in 2020. The international lender made this projection in a press statement released recently. It further said the crash in the price of crude oil at the international market since the beginning of this year would be the major factor for this. Nigeria generates almost 90 percent of its forex earnings from the sale of crude oil and the decline in the price of the commodity puts a huge strain on

By Investors Hub Asian stocks ended mixed on Friday, as caution prevailed amid renewed trade worries and ahead of the release of the U.S. jobs data for July later in the day. China?s Shanghai Composite Index dropped 27.58 points or 1 percent to 2,740.44 after a survey from Caixin showed China?s services sector continued to expand in July, albeit at a slower pace. Hong Kong?s Hang Seng Index edged down 38.24 points or 0.1 percent to 27,676.32. The service sector PMI stood at 52.8, down from 53.9 in the previous month as new orders expanded at their weakest rate in

The removal of Prof. Dibu Ojerinde as the registrar of Joint Admission and Matriculation Board (JAMB) has been lauded by an educationist, Mr Samuel Amadi. Mr Amadi described Ojerinde’s removal by the Federal Government as a welcomed idea, saying the examination body was becoming a confused agency with its controversial initiatives. Speaking on Friday in Enugu, Mr Amadi, who is the proprietor of a private secondary, said the recent withdrawal of the 2016 JAMB admission list was very embarrassing. “Today you will hear that JAMB has sent 2016 admission lists to universities, polytechnic and colleges of education, the next day,

International Women’s Day is celebrated annually on March 8, and the theme for the 2020 edition is Each For Equal. As a part of activities to mark this year’s International Women Day, Olam, a leading player in the Nigerian agricultural value chain, celebrated its female employees as well as female students of the Lagos State Progressive Junior Secondary School, Surulere, Lagos State. Mr Anurag Shukla, Managing Director, Crown Flour Mills Ltd, a subsidiary of Olam, described the female employees of the company as a very important part of the workforce whose contributions have been monumental. The company, whose products include