Category: Business

Nigeria’s most innovative bank, Wema Bank Plc, has emerged the best performing bank in the first half of year 2022 financial year with a weighted average score of of 2.83 points, beating 12 other banks. According to a special report on the Nigerian banking performance in the first half of 2022 prepared by Nairametrics, Wema Bank ranked first in one category, second in three categories and third in one category. Stanbic IBTC and First Bank came second and third respectively.. The key metrics considered in the report are total asset…

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Kogi State Government, yesterday, sealed Dangote Cement Factory, Obajana, following agitation by Kogi indigenes over what they termed questionable circumstances surrounding the acquisition of the company. The Kogi State House of Assembly had ordered the closure of the company after its investigation revealed that the cement factory allegedly had no valid acquisition for the company. Jubilant youths, who had trooped to the company on hearing the news of the closure, chased workers away but were stopped by Kogi officials, who promptly waded in to avoid damage. The youths claimed that…

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First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider has announced its commemoration of the 2022 edition of the Customer Service Week scheduled to be globally celebrated on 3 – 7 October 2022. The event themed: “Celebrating Service” will be marked across its FBNBank subsidiaries in over half a dozen countries which include FBNBank UK, FBNBank Ghana, FBNBank Senegal, FBNBank Gambia, FBNBank Guinea, FBNBank DRC and FBNBank Sierra Leone. Customer Service Week is an international celebration that highlights the importance of customer service and staff who…

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With unanimous support received from her shareholders, Sterling Bank, soon to be known as Sterling Financial Holdings Company, is firmly positioned to expand her financial services footprint from traditional banking and deliver more value to her shareholders. According to the publicly available filings reviewed from the website of the Nigerian Exchange Limited (NGX), upon final ratification by the regulators, the commercial banking subsidiary of the holding company, Sterling Bank; will continue to operate with its current name as a limited liability company, with shares transferred from the publicly traded company…

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As part of Union Bank’s commitment to driving financial inclusion in Nigeria, the Bank has partnered with WACOT Rice Limited – a rice processing company, to financially include 6,000 local farmers including youth and women in Kebbi State. The Kebbi Financial Inclusion Drive (KFID) which will cover four Local Government Areas – Argungu, Augie, Suru, and Dandi – is a critical part of WACOT’s Argungu Outgrower Expansion Project funded by United States Agency for International Development (USAID) West Africa Trade Hub. This program is set to resolve the overwhelming financial…

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Shareholders of Sterling Bank Plc unanimously voted in favor of the creation of a new non-operating holding company (HoldCo) to hold the shares in its commercial banking operation as well as the shares of a newly incorporated subsidiary, The Alternative Bank Limited, which will operate as a Non-Interest Banking (NIB) business. At the end of a court-ordered meeting in Lagos yesterday, the shareholders gave the approval for the carve out and transfer of the Bank’s non-interest banking business to The Alternative Bank Limited, under a proposed scheme of arrangement between…

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NECA, the Nigeria Employers’ Consultative Association has raised alarm over 50 different taxes, levies and fees imposed on organised businesses by local, state and the Federal Government. The employers’ body, also revealed that, currently, at the National Assembly, there are over five different Bills, which also seek to impose various taxes and levies on businesses, in addition to the notable taxes and levies which are of general application, such as The National Information Technology Development Levy (NITDA Levy), Education Tax (or Tertiary Education Tax), National Social Insurance Trust Fund (NSITF),…

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The Managing Director/Chief Executive Officer of Wema Bank Plc, Mr. Ademola Adebise, has emerged one of the top three most visible and prominent bank CEOs during the month of August 2022. Adebise was listed as the third most prominent bank CEO in the country in an independent media performance audit and analysis of 27 commercial bank’s carried out by ,P± Measurement Services, a leading media intelligence and public relations agency. The audit is an independent analysis of the media performance and prominence of the CEOs of Nigerian Commercial Banks and…

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