Category: Business

Nigeria’s premier banking institution and leading financial services inclusion services provider, First Bank of Nigeria Limited has won two awards: Best Bank in Nigeria 2022 and Best Banking Digital Transformation Nigeria at the International Investor Awards 2022, a print and online publication that provides insights, news and visual informative pieces with topics ranging from world markets, investing opportunities, industry analysis and so much more. All content is dedicated to the global investment community that wants to take a step ahead. The bank was recognized with the Best Bank in Nigeria…

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Guaranty Trust Holding Company Plc (“GTCO Plc” or “the Group”) has released its Unaudited Consolidated and Separate Financial Statements for the period ended March 31, 2022, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE). The Group reported profit before tax of ₦54.3billion, representing an increase of 1.1% over ₦53.7billion recorded in the corresponding period March 2021. FX translation of the FCY loan book led to a drop in the Group’s net loans by 4.7% from ₦1.80trillion recorded as at December 2021 to ₦1.72trillion in March 2022. Deposit…

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Wema Bank says its attention has been drawn to recent reports in the media on money laundering and bribery allegations on a customer’s transaction. In a statement by the Bank, it said the publication went ahead to mention the names of certain Wema Bank management staff who were allegedly involved in the said transaction. The statement reads, “The bank wishes to state categorically that there is no merit in the article, and it is a malicious publication against members of our staff and the bank’s customer. “The said allegations are…

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Our attention has been drawn to a video circulating online about a man singing at one of our branches. Contrary to media reports claiming that the man was wrongfully debited by the bank, the video is actually a picketing exercise organized by the Amalgamated Union of Public Corporations, Civil Service Technical and Recreational Employees over a dispute they have with the Anambra State Urban Water Holding Corporation and Anambra State Waste Management Authority. To this end, we had earlier issued a statement explaining that while the Union obtained a garnishee…

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Three Deposit Money Banks in Nigeria have been fined N800m by the Central Bank of Nigeria for violating regulations barring customers from transacting in cryptocurrencies. According to a Bloomberg report released on Wednesday, the three banks are Access Bank Plc, Stanbic IBTC, and the United Bank for Africa Plc. The report noted that the penalties were part of efforts by the apex bank to ensure that banks implement an order to block trading in cryptocurrencies due to the threat they pose to Nigeria’s financial system. The directive was contained in…

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SoftTech IT Solutions and Services Ltd., a Nigerian information technology solutions company, and its Managing Director, Mr Isah Kantigi, have been suspended by the World Bank for alleged corrupt practices. The firm, which was involved in the National Social Safety Nets Project, was sanctioned for 50 months while the managing director was sanctioned for 60 months. This was contained in a statement titled ‘World Bank Group debars SoftTech IT Solutions and Services Ltd. and its managing director’, which was published on the bank’s website on Wednesday. The statement read in…

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From Left to Right- Head of Corporate Services , Abuja Enterprise Agency, Mustapha Shaba, Head Of Asset Management, Abuja Enterprise Agency, Chudi Ugwada Ezerigwe, Head Human Resources, Development Bank of Nigeria,  Uche Ogbonnaya and Head SME Banking Wema Bank, Arthur Nkemeh at the just concluded Third edition of the Wema Bank SME Business School in Abuja last Week.   Share on: WhatsApp

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In furtherance of its role in promoting the sustainability and viability of the Small and Medium-sized Enterprises (SMEs), Nigeria’s premier and leading financial inclusion services provider, FirstBank will by 11:00am on Thursday, 24 March 2022 convene its SMEConnect webinar themed Leveraging Alternative Payment Methods (APMs) to drive revenue for your business. The virtual event is open to everyone, especially small business owners and attendees who are to register via https://firstbanknigeria.zoom.us/webinar/register/WN_hxkQXlKuSji6JDqaA6x34Q  to participate in the event. Guest Speakers at the event include Jeffrey Williams–Edem, Group Business Head, Merchant Acquiring, Interswitch Group and…

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