Category: Business

Fidelity Bank Plc, in collaboration with the Nigerian Postal Service (NIPOST) launched 266 agency banking centres in efforts to extend financial services to rural communities and low income segment of the society, to boost financial inclusion in the country. The alliance is also targeting over 1,400 other locations across Nigeria in a short time. Post-Master General of NIPOST, Bisi Adegbuyi, said Fidelity Bank will have its Point of Sale (POS) used in NIPOST facilities nationwide. He explained that following the development, NIPOST’s Financial Services Unit was mandated to establish a…

Security and Exchange Commission (SEC) has been restrained by a federal High Court, Lagos, from taking any step concerning its imposition of a fine of N91,125,000.00 on the Group Chief Executive Officer of Oando Plc, Mr. Wale Tinubu, and barring him and his deputy, Mr. Omamofe Boyo, from being directors of public companies for a period of five years. Justice Mojisola Olatoregun granted the order yesterday following an ex-parte application accompanied with an affidavit of urgency filed before the court by Dr. Olisa Agbakoba (SAN) leading two other senior advocates,…

Setting the pace as Nigeria’s first indigenous online market, JONLiZmarket.com recently launched an advert and shopping platform on the internet. Designed for millions of online shoppers who prefer to shop for their choice products such as electronic gadgets, kitchen wares, fashion items and clothings, household appliances, groceries etc, all from the comfort of their homes. Aside shopping, JONLiZmarket.com also has spaces for vendors who may want to advertise their wares on its platform without commission. In his words, the CEO of the company, Prince Olaniyi Karounwi said, “this is where…

Leading Pan-African Bank, United Bank for Africa (UBA) Plc in partnership with leading global payments and technology company, Mastercard, will be giving away an all-expenses paid trip- ticket to 12 lucky customers of the bank and their plus ones to watch the Finals of the 2019 UEFA Champions League. Open to all existing and new UBA Platinum Mastercard holders, this amazing giveaway is an opportunity to pamper customers and give them a unique, unforgettable and priceless experience including flights, visas, 5-star accommodation, tickets to watch either the semi-finals or final…

First Bank of Nigeria Plc, Nigeria’s premier and leading financial services provider, has announced that, the fourth edition of its Fireside chat would hold on Friday, 31 May 2019 at its Digital Innovation Lab in Yaba, Lagos. The topic, Cyber Security in Digital Payments, would be delivered by Dr. Obadare Peter Adewale, Co-Founder of Digital Encode, who is the guest speaker at the event. The FirstBank Fireside Chat had its inaugural edition in 2018 with Tosin Eniolorunda, Founder, TeamApt Limited, and subsequently with Ope Adeoye, Managing Partner, 2iLabs, and Bunmi Akinyemiju, Managing Director, Venture…

When is a bank not a bank? That is a question Segun Agbaje, the multiple award-winning CEO and Managing Director of Nigeria’s Guaranty Trust Bank (GTBank) has been getting to grips with as he forges a new path for banking in Africa. Agbaje was always destined to become a banker, it seems, although he took a circuitous route. Initially, he qualified as an accountant and practised in the US before tiring of auditing and returning to Nigeria to follow his father’s footsteps into banking. There, in 1991, he joined an…

Amidst a challenging operating environment, with a 21% growth in profit after tax in the first quarter ended March 31, 2019, the United Bank for Africa Plc has shown its ability to deliver impressive returns going forward. When shareholders of pan-African financial, United Bank for Africa (UBA) Plc met last month at the annual general meeting, they were full of commendation for the board and management. According to them, despite the challenging environment, the bank has remained resilient and deliver significant returns to all stakeholders. They also stressed that the…

Leading financial institution, First Bank of Nigeria says its commitment to deepen financial inclusion in Nigeria has received a great boost with its network of mobile money agents growing to over 22,000 agents. Speaking recently in Lagos at the Future of Finance West Africa Conference, the Deputy Managing Director, First Bank Nigeria Limited, Mr. Gbenga Shobo, said the bank’s agents process over $490 million worth of transactions monthly. Shobo, who spoke during a panel discussion on: ‘Mobile money services for a better financial inclusion in West Africa,’ noted that to…

Akinwunmi Adesina, President of the African Development Bank and former minister under President Goodluck Jonathan, has been awarded Tunisia’s highest official honor, the Grand Officer of the Tunisian Order of Merit . The president of Tunisia; His Excellency Beji Caid Essebsi warmly welcomed him and others with a grand ceremony at the presidential palace. Adesina has taken his crusading for an agricultural revolution everywhere on the continent. He galvanized the political will among African leaders to transform the agricultural sector and lobbied for effective policies to modernize farming and make…