CBN: How Emefiele, wife used Zenith Bank to launder billions of naira -Witness tells court

A official of Zenith Bank plc, Ms. Ifeoma Ogbinna who is an Assistant Manager and fifth prosecution witness has narrated to Justice Rahman Oshodi of the Special Offences Court, Ikeja how the wife of the embattled former Governor of Central Bank (CBN), Godwin Emefiele assisted in laundering huge amounts of money for her husband. A fifth prosecution witness disclosed this at the continuation of trial on Tuesday. Emefiele is standing trial over abuse of office, alleged $4.5 billion and N2.8 billion fraud while in office alongside Henry Omoile. She was led…

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Fidelity Bank Affirms Industry Leadership with Publication of Its ISSB-Compliant Sustainability Report

In demonstration of its leadership in the Sustainability space, leading financial institution – Fidelity Bank Plc – has emerged the first bank to publish its 2023 ISSB-Compliant Sustainability and Climate Report in the Nigerian banking industry. Hosted on the bank’s website on 30 June 2024, the report provides insights into the Bank’s Governance, Strategy, Risk Management, Metrics and Targets around Sustainability and Climate-related risks and opportunities, Human Capital, Community Efforts, amongst others in the 2023 financial year. “2023 marked a pivotal point in our sustainability journey. We became a signatory…

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Union Bank Announces Employee Promotions, Celebrating Dedication, Excellence

Union Bank of Nigeria has announced the promotion of 337 employees across various departments. This significant milestone underscores the bank’s commitment to recognising and rewarding the hard work, dedication and outstanding contributions of its employees. At a recent town hall meeting, the Managing Director/Chief Executive Officer (MD/CEO) of Union Bank, Yetunde Oni, reaffirmed the bank’s commitment to fostering a culture of excellence and growth. She said these well-deserved promotions reflect this commitment and the bank’s continuous efforts to empower its workforce and drive organisational success. Speaking after the announcement, Oni…

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GTCO Announces 2024 Autism Program Themed “A Spectrum of Possibilities” 

Guaranty Trust Holding Company Plc (“GTCO” or “the Group”) has announced dates for the 2024 GTCO Autism Program and follow-up consultations. This year’s program is themed “A Spectrum of Possibilities” to promote inclusivity, self-advocacy, and empowerment for persons on the Autism Spectrum.  The theme A Spectrum of Possibilities aligns with GTCO’s commitment to diversity, equity, and inclusion, and its goal of creating a society where everyone can thrive and reach their full potential, regardless of their background or abilities. The theme acknowledges and celebrates this diversity, recognizing that each person…

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How poor financial performance made ShopRite shut down Abuja store

Retail Supermarkets Nigeria Limited (RSNL), the operator of the Shoprite franchise in Nigeria has announced the closure of its Wuse Store located in the Novare Wuse Central Mall, effective June 30, 2024, citing poor financial performance. According to a press statement signed by Folakemi Fadahunsi, the Chief Executive Officer of Retail Supermarkets Nigeria Limited, this decision comes after a comprehensive evaluation of the store’s financial performance and the prevailing business environment in the country. He stated that the decision was made with the organisation’s long-term growth in mind. “We believe this is the best…

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Why investors will buy Fidelity Banks offers, by capital market stakeholders

Fidelity Bank Plc started its N127.1 billion combined rights and public offers to a rousing support from the investing public as key capital market stakeholders recalled the symbolic importance of Fidelity Banks impressive growths and investor-friendly disposition over the years. From the Nigerian Exchange (NGX) to stockbrokers, investors and customers; the N127.1 billion combined rights and public offer received unreserved recommendations, with industry thought leaders citing the performance of Fidelity Bank in its core banking operations and as a quoted company at the stock market. They said Fidelity Banks N127.1…

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GTCO Rated Nigeria’s Strongest Brand and Best Banking Brand in Nigeria

Africa’s leading financial services institution, Guaranty Trust Holding Company Plc (“GTCO” or “the Group”), has added to its impressive haul of accolades as it was recently named Nigeria’s strongest brand and Best Banking Brand in Nigeria by Brand Finance and Global Brands Magazine, respectively. These awards not only reaffirm GTCO’s position as a leading financial services group but also spotlights the Group’s enduring reputation as a customer-focused brand. Over the years, GTCO has demonstrated remarkable commitment to shaping the future of financial services in Africa and is renowned for its…

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Africa needs to be competitive, says Chike-Obi, Fidelity Bank’s Chairman

Africa needs to be competitive and efficient in its area of strength, according to Mustafa Chike-Obi, the Chairman of Fidelity Bank, who spoke with CNBC Africa’s Kenneth Igbomor on the sidelines of the AFREXIMBANK Annual meetings in Nassau, the Bahamas. Chike-Obi emphasized the importance of focused and sharp leadership in harnessing the continent’s strengths to achieve prosperity. He highlighted the need for Africa to identify areas of competitive advantage in producing goods and services efficiently to unlock its full potential. He pointed out that success stories in areas like sports…

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Fidelity Bank: Here’s the perfect opportunity to grab your slice

By Iheanyi Nwachukwu On Thursday June 20, Nigeria’s 6th largest bank, Fidelity Bank Plc will open its public offer and Rights Issue. According to an article on the Businessday website and authored by Iheanyi Nwachukwu, the bank is raising a total of up to N127.100billion by way of a Rights Issue to existing shareholders and a Public Offer (the Combined Offer). Under the Rights Issue, 3.2 billion ordinary shares of 50 kobo each will be offered in the ratio of 1 new ordinary share for every 10 ordinary shares held…

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Union Bank Advocates for Environmental Restoration; Commemorates World Environment Day

Union Bank, one of Nigeria’s foremost financial institutions, has reemphasised the need to preserve and restore the global habitat through sustainable environmental practices. This clarion call was made during an event organised in partnership with the Nigerian Conservation Foundation to commemorate this year’s World Environment Day. The program, held on June 5th, 2024, at the Lekki Conservation Centre in Lagos State, brought together various stakeholders, including environmental rights activists, international partner agencies, corporate institutions, government agencies, and students of select secondary schools, to deliberate and engage in activities marking World…

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