Unity Bank Unveils Campaign to Promote Advocacy for Gender Equity

By Dipo Olowookere The Deputy Governor of the Central Bank of Nigeria (CBN) in charge of Financial System Stability, Mrs Aishah Ahmad, has been apprehended by the Department of State Services (DSS). The central banker was arrested by the country’s secret police to harvest vital information from her over the sale of a first-generation bank, Union Bank of Nigeria Plc, to a relatively new lender, Titan Trust Bank Limited. The acquisition of the more than 100-year-old financial institution by the less than 5-year-old bank raised eyebrows because the buyer coughed out $300 million to complete the transaction. Titan Trust Bank

By Aduragbemi Omiyale The board of United Bank for Africa (UBA) Plc has raised the bar in the interim dividend payout for the first half of 2023, increasing it to 50 Kobo from 20 Kobo in the same period of 2023. This was after the bank recorded triple-digit growth in the bottom line, as the profit before tax (PBT) jumped by 371 per cent to N404 billion from the N85.75 billion recorded in the first half of 2022, translating to an annualised Return on Average Equity of 57.7 per cent as against 17.1 per cent a year earlier, as the

By Aduragbemi Omiyale Despite the harsh operating environment and the unexpected policies of the government that affected businesses in Nigeria, Unity Bank Plc showed resilience in the first six months of 2023. In its half-year unaudited financial statements filed to the Nigerian Exchange (NGX) Limited over the weekend, the bank marginally improved its gross earnings by 0.37 per cent to N27.5 billion from N27.4 billion in the first half of last year. It was observed that 10 per cent growth in the fees and income commission to N3.5 billion from N3.2 billion helped the lender jerk up its income in

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 Investors Hub The major U.S. index futures are pointing to a higher opening on Thursday, with stocks likely to extend the strong upward move seen over the course of the previous session. A positive reaction to the European Central Bank?s monetary policy decision is likely to contribute to initial strength on Wall Street, with the ECB cutting rates and announcing a massive new bond-buying program. The ECB lowered its main deposit rate by 10 basis points to 0.50 percent and announced plans to restart its quantitative easing program by purchasing assets at a pace of 20 billion euros per

By Dipo Olowookere Foremost Ogun-based politician and farmer, Mr Tunde Oladunjoye, has advised cocoa farmers in the Gateway State to come together to form a united front against those he described as political farmers. He said this at the Cocoa Farmers Roundtable Conference held at the Muslim Community Event Centre in Ijebu Mushin on Thursday, November 28, 2019. The former council chairman of Ijebu Mushin local government area of Ogun State, while addressing participants at the gathering, emphasized that the cash crop remains very important to the nation’s economy and has been playing contributory roles in revenue mobilization to the

By Dipo Olowookere Last week, PZ Cussons’ shareholders were in a happy mood and the reason was that their investment in the company yielded good returns. The share price of the company on the Nigerian Exchange (NGX) Limited improved by 21.22 per cent in the week to N5.45 from N4.50 it closed the previous. This development made PZ Cussons the best-performing stock in the 5-day trading week on the exchange. There were a total of 39 equities on the gainers’ chart compared with the 18 equities in the previous week. University Press appreciated by 19.63 per cent to sell for

By Modupe Gbadeyanka Chairman and Lead Strategist of TPT International Limited, Mr Adetokunbo Modupe, has explained why his firm was involved in the recently-concluded career workshop, organised by Global Interns. According to Mrs Modupe, TPT International supported the event to upgrade participants’ skills to meet the workplace expectation of today and the future. He described this as his company’s way of giving back to the society by supporting platforms that provides mentorship and inspiration to develop a better society, in addition to promoting great talents and innovations from thought processes to idea generations and implementation. The workshop, which attracted over

By Ellie Richards Recently, the entire world has been affected by the wave of inflation. From the United States to Australia, every part of the world has witnessed the ballooning inflation. Whether it is a rise in the prices of daily commodities or an increase in property rates, the effects of inflation could be seen in every single sector. While inflation affects the entire economy of a nation at a larger extent, its effects can also be observed in the daily lives of the common people. As the prices of goods and services rise, the amount of money spent earlier

By Dipo Olowookere The invasion of the runway of Sultan Abubakar III International Airport, Sokoto State, on Friday by those loyal to Mr Aliyu Wamakko, a Senator of the All Progressives Congress (APC) at the National Assembly, has been condemned by the Federal Airports Authority of Nigeria (FAAN). In a statement issued on Sunday by the General Manager of FAAN in charge of Corporate Affairs, Mrs Henrietta Yakubu, the incident was described as a gross violation of the security and safety arrangements at the airport. The FAAN spokesperson claimed that the loyalists of the politician broke through the airport fence

By Modupe Gbadeyanka Doctors Without Borders/ Médecins Sans Frontières (MSF) teams distributed nearly 100 tons of emergency food supplies to more than 10,000 people in northern Central African Republic (CAR) in recent weeks due to the lack of sufficient aid to people affected by armed conflict in the country. Since December 22, MSF teams distributed food in seven locations where displaced people are sheltering in the areas of Kabo, Gbazara and Moyenne Sido. Most fled their homes in the violence which engulfed the country two years ago and have been unable to return due to continuing insecurity. MSF decided to

By Daily Trust There are strong indications that the Central Bank of Nigeria (CBN) may have concluded arrangement to re-introduce cash handling fees for both deposits and withdrawals as its board of governors approve the full implementation of the cashless policy nationwide. The CBN Deputy Governor, Operations, Mr Adebayo Adelabu, gave the hint while addressing the annual dinner of the Nigerian Electronic Fraud Forum (NeFF) in Lagos over the weekend. Mr Adelabu said, “The committee of governors has approved the implementation of the full cashless policy yesterday and the CBN will release a circular which will detail out the process