Category: Business

IFC Partners Nigeria’s Union Bank to Support Trade, SMEs

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To boost access to finance for smaller businesses in Nigeria and to support increased trade, IFC today announced a partnership with Union Bank of Nigeria Plc to help the bank expand lending to hundreds of businesses operating in critical sectors in the country, including food, healthcare, manufacturing, and services. IFC’s $30 million loan will allow Union Bank to increase trade financing and working capital lending to Nigerian businesses, including those whose cashflows have been strained by recent disruptions in global and local markets. “As a bank, we are deeply committed…

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Over N50million Up for Grabs in the Upcoming Union Bank Save & Win Palli Promo Finale and UnionKorrect Draws

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Following a six-month successful run, the second edition of Union Bank’s Save & Win Palli Promo is finally coming to an exciting conclusion. The grand finale event, which is set to hold on January 27th, 2023, at the bank’s Head Office in Marina, Lagos, will reward over 300 lucky customers with cash prizes worth over 40 million naira and other exciting consolation prizes. In addition, one lucky customer will go home with the grand prize of 5 million naira from the Save and Win promo draw, while other customers will…

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Tinubu: Fiscal Policy Will Be The Main Driver Of Our Economic Reforms

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Presidential Candidate of the All Progressives Congress (APC), Asiwaju Bola Ahmed Tinubu has stated that fiscal policy will be the main driver of his government if he is elected into office in the February 25, 2023 General Elections. Speaking during an engagement with the Nigerian Economic Summit Group (NESG) recently, the former Lagos State governor said that in the first 100 days in office, he would assemble a team of technocrats to run the government with him, adding that subsidy will be removed 100% on PMS and redirected into more…

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Guaranty Trust Bank UK reaches settlement with the FCA in connection with historical AML controls

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  Guaranty Trust Bank UK Limited (GTBank UK) has reached settlement with the FCA, accepting findings in relation to historical Anti-Money Laundering (AML) controls in its operations in the period October 2014 to July 2019.   The Bank has cooperated fully with the FCA investigation and has agreed a penalty sum of GBP7,671,800, which has been calculated by reference to a proportion of the revenues of GTBank UK over the relevant period and includes a 30% discount for early settlement.    The FCA’s investigation focused on GTBank UK’s AML controls…

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WEMA Bank Plc Announces CEO Retirement And Appointment Of New MD/CEO

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*Managing Director/CEO Ademola Adebise to retire from Wema Bank Plc; with effect from March 31, 2023. *Moruf Oseni, current Deputy Managing Director appointed as Managing Director/CEO Wole Akinleye, Executive Director appointed as Deputy Managing Director and Tunde Mabawonku appointed as Executive Director Wema Bank Plc hereby announces the retirement of its Managing Director/CEO, Ademola Adebise. He will be proceeding on terminal leave from January 2nd, 2023, after over 13 years of meritorious service on the Board of the Bank. He will be succeeded by Moruf Oseni, currently the Deputy Managing…

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Hey Guys! What’s your VYBE! What makes you come alive… FirstBank is celebrating your vybe this month with #DecemberIssaVybe… wanna win the amazing prices that are up for grabs like concert tickets to see Asake, etc…Here’s how!

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-Upload a 30 to 60 seconds video that showcases your vybe over the course of the year using the hashtags FirstBank #showcaseyourVybe #DecemberIssaVybe #VybewithFirstBank -Make sure you tag @firstbanknigeria in your video NB: you must be following @firstbanknigeria #ShowcaseYourVybe #DecemberIssaVybe #VybewithFirstBank #FirstBankIssaVybe #YouFirst Share on: WhatsApp

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Photo story: Wema Bank commissions branch in CBD Abuja

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From Left to right: Regional Manager Abuja 2, Wema Bank, Queen Dillion, Managing Director and Chief Executive Officer, Wema Bank Ademola Adebise, Special Adviser to the President of Nigeria on Political Matters, Senator Babafemi Ojudu, Executive Director, North and East Directorate, Wema Bank Emeka Obiagwu, at the commissioning of the Wema Bank branch in CBD Abuja last week. Share on: WhatsApp

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Tax dispute: Standard Chartered Bank at war with RMAFC, EFCC over N890.9million

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Standard Chartered Bank Nigeria Limited has approached a Federal High Court in Lagos, urging the court to declare that Value Added Tax (VAT) and Withholding Tax (WHT) liabilities by the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) as illegal, and of no effect whatsoever. The Bank is also urged the court to declare that the Federal Inland Revenue Service is the sole agency of the Federal Government statutorily empowered to administer, assess, collect and enforce the payment of, Federal taxes (including VAT and WHT due to the Federal Government) pursuant…

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Wema Bank Brings Christmas Fun To Theatre Lovers With Duke of Shomolu’s Performances

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Wema Bank, Nigeria’s most innovative bank, has thrown its weight behind the Duke of Shomolu (DOS) Production, one of the fastest-growing theatre franchises in Nigeria, in its four-stage plays slated for December 2022. According to Morolake Philip-Ladipo, the bank’s Acting Head of Marketing Communications and Investor Relations, “more than giving theatre lovers a special experience for the yuletide, the sponsorship shows the bank’s demonstration commitment towards the growth and development of arts and culture in the country.” Morolake also disclosed that Wema Bank has been supporting theatre performances in the…

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Cashigo International Company officials docked for unlawful obstruction of investigation

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A Federal high sitting in Lagos south west Nigeria has adjourned till 14th of February, 2023 for the trial of a company Cashigo International Limited and it’s four officials alleged to have obstructed the investigation of the Federal Competition and Protection Commission to commence. The four officials of the company arraigned alongside the company are Liu Xu David, Olayinka Akintade Ojomo, Emeka Odom and Laurratta Stanley Akwuru. According to a five count charge filed before the court : Cashigo International Limited, Liu Xu David (M), Olayinka Akintade Ojomo (M), Emeka…

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