Bank PHB’s former MD, Atuche jailed for N25.7bn fraud, wife acquitted

Mr. Francis Atuche, the former Managing Director of Bank PHB who is standing trial for stealing the sum of N25.7 billion belonging to the bank, was found guilty of theft and sentenced to six years imprisonment on Wednesday, June 16, 2021. His former Chief Financial Officer, Mr. Ugo Anyanwu, was also sentenced to four years imprisonment by Justice Lateefat Okunnu of the Lagos State High Court in Ikeja. Atuche’s wife, Elizabeth, also standing trial with him, was however discharge of the cases of conspiracy and stealing brought against them in…

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MTN says it can’t guarantee uninterrupted services due to insecurity in Nigeria

Telecommunications giant, MTN says it cannot avoid possible disruption to its services due to insecurity in Nigeria. This is because, the country is currently facing insecurity across the country — ranging from mass abductions at schools, kidnappings for ransom, armed conflict between herdsmen and farmers, armed robberies and various insurgencies, therby affecting growth and job creation. In a statement it wrote to customers via Reuters, the company(MTN) said: “Sadly, we must inform you that with the rising insecurity in different parts of Nigeria, service delivery to your organisation may be…

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Access Bank’s South African division begins operation, guarantees customers’ satisfaction

Access Bank South Africa Limited officially opened for business, on Monday, with a promise to help customers achieve their aspirations. While speaking at the event, Access Bank CEO, Herbert Wigwe, said the SADC region represents the strongest economy on the African continent. “This means Access Bank SA is firmly seated in one of the principal geographical areas apart from Nigeria, in terms of the size of the economy, and unlocks the gateway to the entire Southern African region,” he said. Wigwe highlighted Access Bank’s solid presence in Zambia too, saying…

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Another shot in the arm for Adeduntan as FirstBank wins Global Banking and Finance’s Retail Banking CEO Award

While the age-old saying and philosophy of virtue being its own reward (or seeing doing good as its own reward) remains a strong motivating factor in doing good persistently, it helps when virtue gets recognition from time to time. Even though anyone or organisation committed to doing good will keep doing so with or without recognition, recognitions for virtue tend to act like a shot in the arm for such people or organisations, spurring them to commit even more to doing good. That is what the recent award of “Retail…

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FirstBank: Nigeria’s Premier Eco-Friendly Financial Brand

By Jeremiah Agada As the world gears up to celebrate the World Environment Day (WED), Brand Communicator’s focus on Eco-Friendly Brands in the Nigerian market falls on Nigeria’s premier and perhaps the strongest financial institution, First Bank of Nigeria Limited. The focus is on the Bank’s environmental policies and its impact on the global environmental issues. This brings to fore the importance of environmental sustainability in our world today. Environmental sustainability is one of the biggest challenges and most important targets of the present times. Stakeholders (researchers, academicians, scholars, governments…

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FirstBank gets another international recognition; ranked second most admired financial services brand in Africa

First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider, has been ranked the second ‘most admired financial services brand’ in Africa – for the second straight year – at the 2021 Brand Africa 100: Africa’s Best Brands Event, held on Africa day, 25th May 2021. Brand Africa is an intergenerational movement to inspire a great Africa through promoting a positive image of Africa, celebrating its diversity and driving its competitiveness. It is a brand-led movement which recognizes that in the 21st century, brands are an asset…

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FirstBank bags a hat trick of awards at the Global Banking and Finance Awards 2021

First Bank of Nigeria Limited, Nigeria’s premier and leading financial services provider, has been awarded the 2021 ‘’Retail Banking CEO of the Year Nigeria’’, ‘’Most innovative Retail Banking App Nigeria’’ and ‘’Best CSR Bank Nigeria’’ awards by Global Banking and Finance magazine. The respective awards conferred on the Bank are in recognition of the indelible roles it plays in deepening financial inclusion in the country; advancing the digital banking eco-system as well as impacting people in its host communities with technology to make learning available to individuals of all ages,…

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Bitcoin tumble slows with help from Elon Musk

Bitcoin’s value plunged on Wednesday after China signaled a new crackdown on the cryptocurrency, but its losses were cushioned after Tesla head Elon Musk spoke up on Twitter. The virtual currency fell to almost $30,000 — less than half the record value it reached last month — before climbing back over $39,500 around 2000 GMT. It was still above its level at the start of the year. Bitcoin recovered somewhat following tweets from Musk that featured a diamond and hands emoji, taken as a signal the company had not sold…

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S&P: FBNH, FirstBank boards’ changes ensured stability

S&P Global Ratings said changes to the boards of First Bank of Nigeria Limited and FBN Holdings (FBNH) Plc, recently directed by Central Bank of Nigeria (CBN), addressed the banking group’s corporate governance challenges and ensures the Nigerian banking sector’s financial stability. In a statement, it stated that its ratings on FBN and other Nigerian banks remain constrained by shortcomings in corporate governance and transparency, among other factors. The CBN recently replaced the entire boards of FBN and FBNH, and reinstated the former executive directors and CEO, Dr. Adesola Adeduntan.…

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