Category: Business

Union Bank of Nigeria, as part of activities marking this year’s celebration of International Children’s Day and further to the financial institution’s support for the growth of the Nigerian child, recently hosted kids to a special Barnyard Fiesta at its multiple-purpose Sports complex, The Stable, located at Bode Thomas, Surulere. The Barnyard Children’s Fiesta, held on Saturday, May 25th, 2024, entertained kids of various ages with video games, face painting, dancing, and singing contests. The program also organised a talent show that showcased the creativity of the children who were…

Fidelity Bank Plc complies with the highest corporate governance standards as the leading commercial bank adheres promptly to all full disclosure requirements and global best practices. Fidelity Bank is awarded CG+, the highest rank under the Corporate Governance Rating System (CGRS), which screens quoted companies against prescribed best practices and standards. A review of the latest compliance report showed that Fidelity Bank sustains its highest-ranking rating of CG+, with shareholders and market pundits commending the high corporate standards of the bank. Head, Listings Regulation Department, NGX Regulation (NGXRegco), Mr. Godstime…

Shareholders have expressed readiness to massively support and mobilise for the ongoing recapitalisation of Fidelity Bank Plc amid commendations for the impressive performance of the bank over the years. Shareholders were unanimous that Fidelity Bank has shown strong resilience over the years and demonstrated its investors’ friendliness with significant dividends and capital gains. Shareholders, under the auspices of Nigeria’s leading shareholders’ associations, said they would buy into any share offering by Fidelity Bank as the bank holds exciting future for above-average returns. The sundry shareholders’ endorsements underlined market pundits’ expectations…

Microsoft, United States-based multinational technology giant, has considered closing one of the operations in Nigeria, known as African Development Centre located in Lagos. Microsoft’s ADC is located in Ikoyi, highbrow area of Lagos, the commercial headquarters of Nigeria, Africa’s biggest economy. Without giving any reason, Microsoft, it was learnt, revealed to its members of staff on Monday about shutting down operations in its African Development Centre in Lagos. It was learnt that the affected employees would receive salary payments till June and continue to be covered by health insurance. While…

The Economic and Financial Crimes Commission operatives on Tuesday reportedly arrested some Bureau De Change operators at the popular Wuse Zone 4 market on Tuesday. This came as traders also said some BDC operators resisted the arrest during a sting operation. The operatives had embarked on routine raids to sanitise the market of street traders and eliminate arbitrary trading. But this move was resisted on Tuesday leading to gunshots and damage to the operative’s vehicles, two currency traders who witnessed the incident confirmed it. One of the traders who asked…

Union Bank, one of Nigeria’s foremost and most trusted financial institutions, has announced another significant achievement with its attainment of the MSECB management system certifications in ISO/IEC 27001:2022, ISO 22301:2019, and ISO/IEC 20000-1:2018. The Bank was awarded these three noteworthy certifications by MSECB, a leading international provider of audit and certification services, after being rigorously assessed and found to be in accordance with the management system requirements covering Information Security, IT Service Delivery, and Business Continuity standards under the combined Information Management Systems (IMS) standards. The information security management systems…

In line with its upward growth trajectory, leading financial institution, Fidelity Bank Plc, has posted an impressive 120.1% growth in Profit Before Tax from N17.9bn at the end of Q1 2023 to N39.5bn for Q1 2024. This was made known in the Bank’s unaudited financial statements released on the issuer portal of the Nigerian Exchange (NGX) on Tuesday, 30 April 2024. According to the statement, Gross Earnings increased by 89.9% yoy to N192.1bn from N101.1bn in Q1 2023. The increase was led by a combination of interest income (90.7% yoy)…