VIDEO: First Bank CEO Harps on Financial Inclusion for Continuous Growth

By Dipo Olowookere Some hours ago, news went viral that the Nigeria Inter-Bank Settlement System (NIBSS) Plc has directed Deposit Money Banks (DMBs) to take down all non-deposit financial institutions from their NIBSS Instant Payment (NIP) platform because they are not authorised to hold customers’ funds. The circular, which was dated Tuesday, December 5, 2023, has generated mixed reactions as a few media platforms, excluding Business Post, listed some mobile money operators (MMOs) like Opay, PalmPay, and others are part of the financial technology (fintech) firms affected by the directive. In the disclosure sighted by this newspaper, the NIBSS specifically

By Modupe Gbadeyanka Access Bank Plc has expressed its determination to support initiatives that promote knowledge, integrity, and the enduring legacy of excellence in the legal profession. The chief executive of Access Holdings, the parent firm of the lender, Mr Herbert Wigwe, while speaking at the launch of a book to honour Justice Amina Adamu Augie on Tuesday, November 28, 2023, said the financial institution has a strong affinity for the preservation and advancement of country’s judicial heritage. “We are proud to support the launch of Wisdom and Integrity: The Legacy of Honourable Justice Amina Adamu Augie JSC CON Through

Access Bank Plc has brought the Christmas Season of Giving closer to its customers nationwide with its AccessMore -12 days of Christmas campaign where 100 lucky customers stand a chance to win N10,000 vouchers every day. This was disclosed yesterday, at a press conference held at the financial institution’s Head office in Lagos to flag off the campaign tagged “AccessMore 12 Days of Christmas” leveraging the XtraWins promotion.  The campaign will run from December 1 to December 12, 2023. Group Head, Consumer Banking, Access Bank Plc, Njideka Esomeju confirmed to newsmen that the campaign was launched to celebrate the holiday

By Investors Hub The major U.S. index futures are once again pointing to a lower opening on Wednesday, with stocks likely to move to the downside following the strength seen in the previous session. The downward momentum on Wall Street comes after General Motors (GM) and Boeing (BA) provided disappointing guidance. GM reported better than expected second quarter results but lowered its full-year earnings forecast due to rising steel and aluminum costs as a result of the tariffs imposed by President Donald Trump’s administration. Aerospace giant Boeing also reported second quarter results that exceeded analyst estimates but warned of lower

By Modupe Gbadeyanka Gains recorded by Mobil, 7up and 15 other equities were enough to lift the Nigerian Stock Exchange (NSE) and return it to the green zone. At the close to trade on Thursday, the stock market marginally rose by 0.05 percent, leaving the year-to-date return to close at 36.32 percent. But despite the gains, the market breadth closed negative today with 17 price gainers and 25 price losers. Mobil appreciated by N5 to close at N170 per share, while 7up increased by N4 to settle at N90 per share. International Breweries garnered N1.80k to finish at N51.80k per

By Modupe Gbadeyanka The financial system in Nigeria has again been thrown into disarray with the shutting down of 42 microfinance banks across the country. The operating licence of the affected small lenders was revoked by the Central Bank of Nigeria (CBN), the main regulator of the banking sector in the country. Already, depositors, shareholders and the creditors of the financial institutions closed by the CBN are in a panic mode because of the experiences of victims of other banks shut by the regulator. But the Nigeria Deposit Insurance Corporation (NDIC), which acts as the official liquidator of the banks

By Dipo Olowookere Somali Football federation has on Wednesday concluded the first FIFA youth refereeing course to be conducted in the country under the auspice of the world football’s governing association. Somali football federation senior vice president, Mr Ali Abdi Mohamed, who addressed at the closing ceremony of the course on Wednesday, said that the need for education is always there. “Education and development are two things which are always important for the humans, because we are people and people must always think about their development. Somali football federation is always prioritizing education and progress and that is why development

By Modupe Gbadeyanka The preference for financial stocks over equities of other sectors on the floor of the Nigerian Stock Exchange (NSE) by investors continued last week. During the week, shares in the financial services sector dominated the activity chart by contributing 53.51 percent and 51.73 percent to the total equity turnover volume and value respectively. A total of 1.1 billion shares valued at N13.7 billion traded in 13,739 deals were transacted in the sector. According to data harvested from the NSE over the weekend, securities in the healthcare industry followed with 521.9 million units valued at N183.0 million in

By Dipo Olowookere Nigerian lender, Access Bank Plc, has announced receiving approvals from regulatory authorities in Kenya for the acquisition of Transnational Bank (TNB) Plc. TNB is a medium-sized commercial bank based in Kenya with great focus on the agricultural sector and significant retail footprints. In October 2019, the board of Access Bank, via a notice to the Nigerian Stock Exchange (NSE), had said it has obtained a ‘no objection’ of the Central Bank of Nigeria (CBN) to majority equity stake in TNB. On Friday, January 17, 2020, the tier-one financial institution, in a disclosure, said it has “now secured

By Aduragbemi Omiyale Three former housemates of Big Brother Naija Shine Ya Eye season 6, Hazel Oyeze Onou (Whitemoney), Ikechukwu Sunday Okonkwo (Cross) and Pere Egbi (Pere) have been hired as brand ambassadors of Binance, the world’s leading blockchain ecosystem and cryptocurrency exchange. The former television reality stars were chosen to use their platforms to drive crypto adoption and promote financial freedom for Africans. Through the year, Binance has continued to build core facets of the blockchain ecosystem and bring new services and financial opportunities to Africans. By working with some of the hottest stars in the country, it intends

By Ashemiriogwa Emmanuel At the end of The Next Titan Season 8, Nigeria’s foremost business reality TV show, the most talented youth with outstanding entrepreneurial acumen will go home with the sum of N15 million, the organisers have promised. The programme, which is tagged The Uncaged, is a 10-week competition where entrepreneurs from across the country will carry out weekly business tasks and challenges as teams or individuals with weekly evictions in the boardroom by the judges. Chiefly sponsored by Heritage Bank, this season saw entries from more than 20,000 participants, but only 75 made it through auditions in Abuja,