Category: Business

Fidelity Bank has recorded improved performance in the first half of 2019, HI’19, recording double-digit growth in key revenue lines whilst achieving significant traction in digital banking uptake despite the country’s challenging and fiercely competitive business environment. Details of the audited half-year result for the period ended June 30, 2019, released at the Nigerian Stock Exchange, NSE, weekend, showed a 15.7 percent rise in Profit Before Tax, PBT, period to N15.1 billion in the reporting period from N13.0 billion in H1’18. Profit After Tax, PAT, rose by 15.6 percent to…

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Nigeria’s largest retail bank, Access Bank Plc, recently collaborated with MTN at the mPulse planet to educate pre-teens and teenagers on the importance of practicing good savings culture through fun and innovative methods. The event which held at Landmark Event Centre, Lagos, saw children taking part in gamified learning on platforms such as Dreamville.ng – a community where children can learn about managing money and other financial instruments – while also providing attendees with lots of exciting attractions and activities to enhance early savings culture. Speaking at the event, Adaeze…

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Stake holders in the Food, Beverage and Tobacco sector of the economy, have pleaded with the Federal Government to engage the Organized Private Sector, OPS, and other stakeholders on the recent policy pronouncements concerning foreign exchange restriction on imported goods in the food sub-sector to avoid job loss and business collapse. On the platform of the Association of Food Beverages and Tobacco Employers, AFBTE, the employers, specifically appealed to the Federal Government to engage the OPS and stakeholders in the food industry to discuss the issues involved thoroughly to arrive…

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Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN), has disclosed that it will deny foreign exchange (Forex) for importation of more items at both commercial banks and the apex bank levels. Emefiele stated this in Abuja at the opening of a two-day retreat for ministers’ designates and top government officials at the Presidential Villa yesterday. He said the authorities would also not renege on President Muhammadu Buhari’s directive to CBN to stop issuing Forex for food imports into Nigeria. Specifically, President Buhari had last week in Daura, Katsina…

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Through its training academy, ECOBANK Nigeria has commenced entry level development programme for new set of Graduate Trainees. A statement from the bank said the training programme is an intensive eight-week medley of learning interventions for fresh graduates. The first set of 67 trainees will graduate at the end of the month and will be absorbed into different roles in the bank. According to the Head, Human Resources, Ecobank Nigeria, Gloria Byamugisha, the first set of trainees at the academy demonstrated a high level of commitment and orientation towards the…

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Audited financial results of Guaranty Trust Bank Plc has been released for the half year ended June 30, 2019 to the Nigerian and London Stock Exchanges. The half year result shows positive growth across key financial metrics and reflects GTBank’s leading position as one of the best managed financial institutions in Africa. The Bank reported a Profit Before Tax of N115.8 billion, representing a growth of 5.6 per cent over N109.6 billion recorded in the corresponding period of 2018. The Bank’s loan book grew by 1.0 per cent from N1.262…

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In a bid to ensure Nigeria attains food security, President Muhammadu Buhari has directed the Central Bank of Nigeria (CBN) to stop providing foreign exchange for importation of food into the country. A statement yesterday by a presidential spokesman, Mallam Garba Shehu, quoted Buhari as telling All Progressives Congress (APC) governors, who came to celebrate the Eid-el-Kabir with him in his country home in Daura, that the foreign reserves will be conserved and utilised strictly for diversification of the economy, and not for encouraging more dependence on foreign food. “Don’t…

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Under its Northern Market Activation Campaign currently going on across the northern states and Abuja, Fidelity Bank Plc has doled out over N74 million as cash reward to 190 customers in the northern part of the country. The loyalty cash reward packaged under the Fidelity Savings Loyalty Scheme was splashed on 190 customers/beneficiaries, comprising 130 Fidelity Personal Savings Scheme (FPSS) and 60 SWEETA account operators The bank has so far doled out about N3 billion to close to 7,000 customers across the country since the introduction of its loyalty cash…

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In its commitment to grow the next generation of entrepreneurs in the country by supporting micro, small and medium scale enterprises (MSMEs) through its funding connect initiatives, Fidelity Bank has again, pledged more support. Speaking at the Radio Clinic show for SMEs, monitored on Inspiration FM in Lagos, yesterday, the General Manager/Regional Bank Head, Ikeja, Mr. Ken Opara, said the programe has helped in building the next generation of Nigerian entrepreneurs. According to him: “We want to build the next generations of Nigerians entrepreneurs and we see a huge space…

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The world’s largest atmospheric tower for Nigeria’s Dangote Refinery, built by China’s leading energy and chemical company, Sinopec, has left the shores of China for Nigeria. Sinopec on its verified Twitter handle, shared photos of the tower and revealed that it (tower) had already left its port in China and was traveling to Nigeria. It tweeted: “On July 29, the world’s largest atmospheric tower built by Sinopec slowly left a wharf in Ningbo. Following the Maritime #SilkRoad, it will travel to #Nigeria and be installed at the world’s biggest single-train…

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