Category: Business

The Central Bank of Nigeria has uncovered N6 million of new naira notes hoarded by a new generation bank branch along bank road, Ado-Ekiti. The Apex bank Deputy Director, Oluwole Owoeye uncovered the hoarded newly redesigned currencies while leading a team of officials on monitoring exercise in the state. Owoeye accused the bank of deliberately hoarding the new banknotes it had collected from the CBN for almost two weeks. The Deputy Director who said there was no excuse for keeping the money, saying Deposit Money Banks are sabotaging the apex…

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…

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…

*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…

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

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…