Category: Business

Representatives of Nigeria’s premier financial services brand, First Bank of Nigeria Limited, imparted nuggets of financial literacy to over 7000 young people in schools spread across the six geo-political zones of the country, in commemoration of the 2019 Global Money Week (GMW) which took place from March 25 to 31. This is also in line with the mandate of the Central Bank of Nigeria (CBN) that each bank in the country teaches in selected schools across the six geo-political zones. FirstBank joined over 50,000 global institutions to commemorate the 2019…

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Ecobank Transnational Incorporated has revealed plans to sell $500m Eurobonds at yields that may rank among the highest from emerging markets this year. Bloomberg reported on Thursday that talk in the market revealed that the notes were priced high nine per cent area as the bank said it planned to sell $500m of its five-year debt. Bloomberg said the funding would enable the lender to meet its general corporate obligations, including the refinancing of a portion of debt it owed banks. According to data compiled by Bloomberg, the yields will…

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At a case study session in the European Union capital, Belgium, the Tony Elumelu Foundation recently brought together leading stakeholders in the development of the finance sector.  According to a statement from the foundation, the convening demonstrated that Africa also had solutions to bring to the table and platform the Foundation’s unique approach to catalysing entrepreneurship in scale across the continent. Themed, “A Convening on Africa’s Economic Transformation: A Case Study of the Tony Elumelu Foundation,” the event presented the results of the first five years of the Foundation’s entrepreneurship programme…

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Award-winning Culinary Experts for the 4-day GTBank Food and Drink Festival have been announced. On the A-list line up are: The Sandwich King, Jeff Mauro, The Chef’s Chef, Philip Howard, and Award-winning, Food Stylist and Photographer, Melina Hammer. More facilitators will be announced as the countdown to the Biggest food exhibition and sales event in Africa continues. Philip Howard Philip Howard, also known as the “Chef’s Chef”, is one of Britain’s most celebrated culinary experts. The reputation for Phil’s cooking has been forged through the delivery of pleasure through harmony…

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The Board of Directors of Fidelity Bank Plc has announced the appointment of three new Executive Directors (EDs), as part of corporate realignment and repositioning. The board, which met in Lagos recently, approved the appointment of Mr. Gbolahan Joshua as Executive Director/Chief Operations and Information Officer; Mr. Obaro Odeghe, Executive Director, Corporate Bank, and Mr. Hassan Imman, Executive Director, Northern Directorate. This is, however, subject to the approval of the Central Bank of Nigeria (CBN). A statement from the bank yesterday explained that Gbolahan would have executive responsibilities for Operations,…

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The World Bank Executive Directors has on Friday chosen David Malpass as President of the World Bank Group for a five-year term, beginning on Tuesday, April 9. The World Bank in a press release published on its website, said the appointment followed a transparent nomination process where any national of the Bank’s membership could be proposed by any Executive Director or Governor. “The Board looks forward to working with Malpass on the implementation of the Forward Look and the Capital Package Agreement as articulated in the Sustainable Financing for Sustainable…

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One of the leading financial institutions in Nigeria, Union Bank, has been named ‘Advertiser of the Year’ by CHINI Africa, Cannes Lions Official Festival representative in Nigeria and organisers of the annual Creativity Week. The Bank also received the Bronze category award for ‘Integrated Marketing Campaign’ of the Year. The awards were officially presented at the 2019 Pitcher awards ceremony, in recognition of the brand’s creativity in the development of impressive advertising campaigns; particularly the ‘Clear Your Doubt’ campaign with its popular tagline – Don’t be an Uncle Thomas, and…

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Fidelity Bank Plc has released a statement that its profit before tax (PBT) grew by 30.6 percent to N25.1 billion in the financial year ended December 31, 2018 from N19.2 billion in the previous year. According to reports, the statement shows that the bank recorded 4.8 percent  growth in gross earnings from N180.2 billion to N188.9 billion while profit after tax grew by 29 percent  from N17.7 billion in 2017 to N22.9 billion in 2018, whilst operating income rose by 13.9 percent  from N85.9 billion to N97.2 billion. Customer deposit, which is a measure of consumer…

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One of the nation’s leading financial institutions, GTBank has decided to put to rest, frivolous reports trending on the social media. The issue involves the Innoson Motors, a customer of the Bank as well as the Nigerian Customs. In the official statement issued by the bank, it states: “The attention of Guaranty Trust Bank Plc (‘the Bank’) has been drawn to statements circulating in the news and social media in respect of a purported enforcement of a Judgement of the Federal High Court, Ibadan, Oyo State, at one of its…

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After three stellar exposés of the biggest culinary experience in Africa, the GTBank Food and Drink Festival is getting bigger for the 4th edition, which will hold for 4 days from Sunday, 28th April, to Wednesday 1st May 2019 at the GTCentre, Plot 1, Walter Corporation Drive, Oniru, Lagos. Created in 2016 by leading African financial institution, Guaranty Trust Bank Plc, the GTBank Food and Drink Festival has become the premier culinary event in Africa, bringing together tens of thousands of people from across the continent and beyond to support…

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