Union Bank Gets High Ratings in SME Banking, Digital Solutions, Others

By Modupe Gbadeyanka A total of N7 million has been won by 70 customers of Stanbic IBTC Bank Limited in season three of the lender’s Reward4Saving promo. The winners were given N100,000 each in the October draw held recently, with their corresponding cheques presented to them on Friday, November 10, 2023, at the headquarters of the company in Lagos. The third season of the promo started in September 2023 and 140 people have been rewarded so far with N100,000 each. There are 10 draws left until the end of season three and 700 new and existing customers from our seven

By Adedapo Adesanya President Bola Tinubu has thrown his full weight behind the plan by the Central Bank of Nigeria (CBN) to increase the capital base of banks in the country. The President expressed his views on this move, which last occurred in 2005, through his Special Adviser on Information and Strategy, Mr Bayo Onanuga, in his message at the 40th anniversary of The Guardian Newspapers in Lagos on Tuesday. He said bank recapitalisation was crucial to Nigeria achieving a $1 trillion economy. “Amidst the general lull in a global economy, our ambition to attain a $1 trillion economy appears

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 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 Dipo Olowookere The Central Bank of Nigeria (CBN) may nationalise ailing Unity Bank Plc over its troubled and unhealthy state, in its bid to save depositors and shareholders’ funds. This follows the apex bank’s target examination which shows that the lender is in grave financial condition with its capital adequacy ratio (CAR) and non-performing loans ratio (NPL) which breach its acceptable prudential standards. This medium further gathered that the CBN has been hesitant to continue to inject funds into Unity Bank and, therefore, gave the bank a timeline to strengthen its financial base or face dire consequences. The development,

By Modupe Gbadeyanka The federal government has been urged to urgently collaborate with all critical stakeholders in the agriculture sector to stabilise the rising cost of food and fertilizer. In a new report, the Boston Consulting Group (BCG) stated that this action can be taken by providing viable seedlings, supporting the growth of alternative nutritious grains, and driving the adoption of innovative farm practices. In the report titled the War in Ukraine and the Rush to Feed the World, which explores in detail the multiple direct and indirect impacts of the turmoil in Ukraine on global food systems, the body

By Adedapo Adesanya The total value of stocks on the NASD Over-the-Counter (OTC) Securities Exchange expanded by N6.41 billion in the 50th trading session of 2021. According to the weekly NASD market review and analysis observed by Business Post, the market capitalisation of the platform jumped to N611.29 billion from N604.88 billion in Week 49. This was boosted by the bullish performances of two securities, which also increased the NASD Security Index by 1.1 per cent or 7.75 points to 739.9 points from the preceding week’s 732.15 points. Friesland Campina Wamco Nigeria Plc was the highest price gainer in the

By Dipo Olowookere Frontline celebrity journal in Nigeria, City People Magazine and its City People Entertainment team led by renowned veteran journalist, Dr  Seye Kehinde, are in top gear, preparing and putting all things together to make Saturday, June 30, 2018, a memorable and unforgettable day for the lovers and fans of prolific and famous Islamic singer, Alhaja Rakayat Gawat-Oyefeso. Enterprising Gawat, daughter of renowned NTA broadcaster, Alhaji Rasaq Aremu Gawat, would be celebrated by the celebrity journal on her birthday and welcome dance of Lesser Haaj, which will take place at the City People Event Centre, Gbagada, Lagos. Publisher

By Dipo Olowookere Former Vice President, Mr Alex Ekwueme, has been confirmed dead at a hospital in London, United Kingdom. A statement issued by his family in Oko, Anambra State disclosed that the second republic VP was said to have died on Sunday night. On October 28, 2017, over two weeks after celebrating his 85th birthday, the elder statesman was rushed a hospital in Enugu after he collapsed at his residence in the Independence Layout area of Enugu. He was in a coma at the time he was admitted at the Intensive Care Unit of Memfys Hospital in Enugu after

By Dipo Olowookere An association called AFRUIBANA was last Wednesday, July 19, 2017, launched in Brussels, the capital of Belgium, during a visit by Cameroon Trade Minister, Luc Magloire Mbarga Atangana, to European institutions. AFRUIBANA is an association of fruit producers and exporters from Cameroon, the Ivory Coast and Ghana. It is also a group established under Cameroonian law and gathers several representatives of producers and exporters from different sub-Saharan countries, notably Assobacam, the Cameroon banana industry association, and OBAMCI, an Ivory Coast organisation of producers and exporters of bananas, pineapples, mangoes and other fruits. As representative of the African,

By Adedapo Adesanya Oil prices recovered some of their previous day’s losses as traders banked on signs of a marginal improvement in the US economy, though rising cases of COVID-19 in some states weighed on gains. The Brent crude rose by $1.17 or 2.9 percent to trade $41.48 per barrel, while the US West Texas Intermediate (WTI) crude was sold at $38.72 per barrel after appreciating by 71 cents equivalent to 1.87 percent. At the previous session, major crude prices lost five percent as the US recorded a high inventory of 1.4 million barrels, exceeding analysts’ expectations, the Energy Information

By Modupe Gbadeyanka Since it commenced operations, Zedcrest Capital Limited has continued to soar higher and recently, it was honoured with three international awards. The new-age financial solutions powerhouse has been named the Leading Proprietary Investment Firm in Nigeria and the Best Financial Management Firm in Nigeria by International Business Magazine. The company received the awards just a few days after its recognition by UK-based publication, Global Business Outlook as the Best Proprietary Investments Firm in Nigeria for a second consecutive year. The firm, in a press statement, described the awards as an acknowledgement of the company’s consistent focus on