Western Union Partners Liverpool FC on Money Transfer

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 Modupe Gbadeyanka A business grant of N10 million has been given to 30 members of the National Youth Service Corps (NYSC), who partook in the entrepreneurship development initiative of Unity Bank Plc known as the Corpreneurship Challenge. The young entrepreneurs received funding support for developing innovative solutions in several business value chains like honey production, rice, and snail farming, among others. The beneficiaries pitched their business ideas to judges selected for the competition across 10 state NYSC Orientation Camps; Katsina, Kano, Kwara, Imo, Rivers, Delta, Sokoto, Edo, Akwa-Ibom, and Osun States. At the NYSC Orientation camp at Ikot Itie

By Modupe Gbadeyanka A cutting-edge German-Nigerian financial technology (fintech) firm, BFREE, plans to put down $40 million to acquire some distressed loan portfolios in Union Bank of Nigeria. A statement from the Nigerian lender said both parties signed a Memorandum of Understanding (MOU) in Berlin on November 21, 2023, at the German-Nigerian Business Forum. It was disclosed that BFREE would partner with its international financing partners to refinance bad loans from Union Bank, particularly those delayed in repayment or already written off. Union Bank expressed its optimism that this strategic partnership with BFREE would not only bolster the bank’s financial

By Adedapo Adesanya Former prime minister of the United Kingdom, Mr David Cameron, has returned to government as Foreign Secretary amid a fresh cabinet shake-up by Prime Minister, Mr Rishi Sunak, on Monday. Downing Street announced on Monday that Mr Cameron would join the government, accepting a peerage in order to do so, as part of a wider reshuffle in which Ms Suella Braverman was sacked as Home Secretary and replaced by the Foreign Secretary, Mr James Cleverly. Business Post also confirmed that Mr Jeremy Hunt would remain as chancellor. Mr Cameron stood down in 2016 after losing the Brexit

By Dipo Olowookere The Securities and Exchange Commission (SEC) has suspended all physical meetings and visits to its offices till further notice in the wake of the second wave of COVID-19. Business Post reports that Nigeria has been recording an increase in the number of positive coronavirus cases lately, sparking fresh fear of another lockdown to control the spread of the virus. In a circular on Friday, SEC said in order to protect investors and not disrupt activities in the capital market, its operations will now become fully electronic. The agency, which described the market-focused adjustments as temporary, encouraged capital

By Investors Hub European stocks are trading higher on Monday as U.S. rate hike fears ebbed and investors waited for the SPD vote to join a German coalition government with Angela Merkel. The euro has climbed ahead of ECB President Mario Draghi’s appearance in the European Parliament. The pound has edged higher against the dollar after Bank of England Deputy Governor Dave Ramsden said in an interview with the Sunday Times that U.K. interest rates are likely to rise somewhat sooner rather than later, if wage growth improves. Ramsden said he would keep a close eye on what happens through

By Dipo Olowookere Four banks have been appointed by the Central Bank of Nigeria (CBN) as settlement banks for the $2.5 billion currency swap deal signed between Nigeria and China last Friday in Beijing. According to a report by ThisDay, the four financial institutions appointed by the apex bank are First Bank of Nigeria Limited, Stanbic IBTC, Standard Chartered Bank (SCB) and Zenith Bank Plc. Last Friday, the CBN, on behalf of Nigeria, sealed the much-awaited $2.5 billion bilateral currency swap agreement with the People’s Bank of China (PBoC). The settlement banks are expected to handle the trade obligations that

By Dipo Olowookere The board of directors of NEM Insurance Plc is proposing to allot bonus shares to shareholders of the company. A notice from the underwriting firm disclosed that the bonus would be given on a ratio of 9:10; nine bonus stocks for every 10 held by investors of the company. This development will lead to the creation of 4,719,497,087 ordinary shares of 50 kobo of the organisation, which will rank pari pasu with the existing shares in all respect and will be treated for all purposes as capital and not as income. The firm said the shares would

By Dipo Olowookere The bond market regained a relatively calm posture on Wednesday with the average yields retracting by 0.28 percent. This was a market players cherry-picked on the 2027s which was sold off significantly higher in the previous session. According to Zedcrest Research, slight interests were seen on the longer end of the curve with yields averaging 14.20 percent. The Debt Management Office (DMO) released its bond offer circular for the month of August with a total of N90 billion of the 3, 5 and 10-year bonds on offer for sale at an auction slated for August 15, 2018.

By Jerome-Mario Chijioke Utomi It is a pedestrian knowledge that the Delta State University, Abraka, Delta State, on Saturday, April 29, 3023, held its 15th convocation that produced 58 first-class graduands with Obuseh Emmanuel Ewere of Electrical/Electronic Engineering emerging the Overall Best Graduating Student with a C.G.P.A of 4.91. What is, however, newsy is that the week-long event, which was held with varying activities, has, more than anything else, revealed two separate but similar developments within the institution. First, the convocation ceremony provided guests made up of parents, media professionals, development professionals and critical stakeholders the opportunity to come in

By Modupe Gbadeyanka Season two of Ecobank Super Rewards promo has commenced and 50 customers of the bank will get cash prizes every week, a statement from the lender has said. It was disclosed that the campaign was brought back due to popular demand from customers, who said they were impressed with the excitement generated in season one. According to Ecobank Nigeria, the campaign will run for four months between October 2021 and January 2022 and will produce 800 winners who will get N25,000 weekly. In addition, four millionaires will emerge in each of the four delineated regions of Lagos,