Uproar Among FBN Holdings Shareholders Over Suspension of AGM

By Dipo Olowookere The domestic currency had a breather in the peer-to-peer (P2P) and the parallel market segments of the foreign exchange (FX) market on Wednesday, with its value strengthening against the Dollar at the two windows. This was supported by the ease in the forex demand pressure during the trading session, which had the official market, the Investors and Exporters (I&E) arm of the market, non-operational yesterday due to the public holiday observed in the country for Eid el Maulud. Many customers who may have needed FX for their transactions stayed back to enjoy the work-free day, easing off

By Adedapo Adesanya The Federation Account Allocation Committee (FAAC) has shared a total of N1.1 trillion from the revenue generated by the nation in August 2023 for September to enable the three tiers of government; the federal government, states, and local government councils, to have funds to pay salaries and others. The allocation of the funds was confirmed by the Office of the Accountant General of the Federation on Friday following FAAC’s September 2023 meeting. According to a statement by the OAGF’s Director of Press and Public Relations, Mr Bawa Mokwa, there was “N1100.101 billion (N1.1 trillion) total distributable revenue.”

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By Dipo Olowookere No fewer than 15 Nigerian Small and Medium-sized Businesses (SMBs) will share the N75 million set aside by a tech giant, Google, in the 2023 edition of Hustle Academy Fund. The initiative was introduced in 2022 to provide equity-free funds to small business owners to scale up their operations and support entrepreneurial growth in Nigeria. Entries for the exercise opened on Thursday, September 28 and will close on Thursday, October 12, 2023, and to be eligible, businesses must be Nigerian-founded, operating within Nigeria for 1-5 years, and have a clear and scalable business plan. They should have

By Adedapo Adesanya The Senate has called on the Army and Airforce to, as a matter of urgency, bombard terrorist enclaves with a view to restoring peace and stability in the country. The call was made on Tuesday in response to a point of order raised on “the continuing attacks on communities and public facilities in Kaduna State” by Senator Uba Sani. The lawmaker noted that terrorists have in recent times increasingly attacked some communities and public facilities in Kaduna State. According to him, “the latest attacks by these murderous elements took place in some communities in Giwa Local Government,

By Dipo Olowookere The decision of Ecobank Group to invest heavily in technology to make financial transactions seamless for customers is already yielding positive results. This is because the financial institution has witnessed a significant increase in the value of transactions carried out through its array of digital channels due to the confidence customers have in the products. In the first nine months of 2022, according to the audited financial statements of the company for the period ended September 30, transactions valued at $59.1 billion were done across its digital channels, higher than the $40.4 per cent recorded in the

By Dipo Olowookere Senate President, Mr Bukola Saraki, has been billed to discuss unlocking Africa’s economic potential at the Commonwealth Africa Summit 2018 in London. The Summit aims to spark new thinking on how to promote collective action, achieve shared prosperity and common good for Africans leveraging on their relationship with the commonwealth family of nations. Through a series of discussions, the event will encourage dialogue on how to strategise and mobilise valuable African resources that are critical to shaping the continent’s emerging economies. The 5th in its annual series, the 2018 Commonwealth Africa Summit themed Common Good will have

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By Modupe Gbadeyanka The Heritage Bank’s revolutionary advanced intelligent digital experience, known as Octopus has been endorsed by the 2018 Big Brother Double Wahala (season-3) housemates for its ground breaking innovative solution, crafted to meet the demands of an ever-growing active population with the aim to create and transfer wealth to stakeholders. Four of the 20 contestants, who were engaged with a task that served to Launch the Bank’s product and have continued to use advanced intelligent digital experience to grow their businesses unanimously attested that Octopus was the new green; way to engage markets, shop bank, making payment of

By Adedapo Adesanya With the ongoing pandemic affecting Rugby across the globe, the Nigeria Rugby Football Federation (NRFF) organized a leadership webinar session for Nigerian rugby players, the Black Stallions and its coaching staff to discuss the effect of the pandemic on the game and players. This was disclosed in a statement by the NRFF over the weekend. The webinar session was hosted by Mr Wilbur Kraak, a sport coaching lecturer at the Department of Sport Science, Stellenbosh University in South Africa. Mr Kraak (PhD, sport Science) has published several books on the various elements within Rugby Union and has

By Dipo Olowookere Monday, February 5, 2018, has been fixed for ruling on the case brought against Diamond Bank Plc by one of its customers, Mr Olajide Friday. The plaintiff, a car dealer, accused the bank of sending a fake credit alert of N2.5 million to him, value of a vehicle he sold to a customer. Counsel to the auto dealer, Mr Cyril Nwaogu, informed Justice Angela Otaluka of the FCT High Court, Lugbe, that his client, three days after the said transaction, approached the bank to withdraw the money only to be told that the amount was not in

By Dipo Olowookere One of the leading cement manufacturing companies in Nigeria, Dangote Cement Plc, has commenced the sale of its commercial paper worth N50 billion. The debt instrument is being offered for sale under the organisation’s N150 billion commercial paper issuance programme, Business Post reports. Under this tranche, the cement giant is selling in three different series and subscriptions already opened on Wednesday, November 18, 2021, and will close on Wednesday, November 24, 2021. According to details of the exercise, the series one is with 90 days maturity while the series two has 180 days tenure, with the series