Category: Business

WITH GIANTS CAMPAIGN, FIRSTBANK IS TRULY WOVEN INTO THE FABRIC OF SOCIETY  

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The ‘Giant in you’ campaign of the FirstBank has again confirmed the common expression that ‘apple doesn’t fall far from the tree’ given the history of the financial brand and its legendary relevance to the growth of enterprises, within and outside Nigeria. In its usual creative conjecture, 13O-year-old FirstBank, has hit the airwaves and other media outlets with various visuals to articulate its new campaign ‘The Giant in You’. Breaking down the central message, ‘there is a giant in you’ the campaign stylishly reminds the bank customer that ‘FirstBank Puts…

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UAE denies $10,000 bank balance, N640,000 fee for Nigerian visa applicants

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The United Arab Emirates has denied approving $10k bank balance, and N640k fee requirements for Nigerians applying for visas into the country, reports The Cable, an online news agency. The Minister of Information and National Orientation, Mohammed Idris, announced on Monday, that the UAE authorities agreed to vacate travel restrictions imposed on Nigerians. Idris further revealed that applicants must fulfill certain conditions part of which was obtaining a document verification number on documentverificationhub.ae. According to the website, the verification costs a non-refundable N640,000 excluding VAT for each application. This does…

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Fidelity Bank eyes oversubscription to N127.1 billion combined offers

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Against the background of groundswell of supports and enthusiasm for the bank’s ongoing offers, Fidelity Bank Plc has started preparations to allow the bank absorb oversubscriptions. With investors rallying behind the bank’s N127.1 billion combined rights and public offer, market pundits had indicated that the bank would raise more than initial size of the combined offer. Reports have shown high subscription levels for the offers early weeks of the offer period, riding on the back of acceptances by existing shareholders and demand by the general investing public. Fidelity Bank is…

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

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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

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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

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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” 

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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

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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

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

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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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