Category: Business

Union Bank, through its UnionCares initiative, provided relief for thousands of the underprivileged by donating over 6,000 care bags containing staple food items. The campaign, now in its third year, is co-funded by Union Bank and its employees. The bags containing nutritional staples included rice, beans, oil, salt and readymade stews. In various parts of the country, the Bank’s employees were seen handing out the bags to people in underserved communities. The Bank also made financial donations to over 30 orphanages, care homes and NGOs including Wesley Schools for the…

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Federal Inland Revenue Service (FIRS) has broken Nigeria’s all-time revenue generation record, after generating N5.3 trillion in 2018. In Nigeria, FIRS highest revenue generation was previously recorded in 2012, when the agency generated N5.07 trillion. Tunde Fowler, FIRS chairman, who announced the 2018 record said the cost of collection as a percentage of actual taxes collected has been reducing, as the government is generating more at a time when oil prices are low. “While we have been steadily increasing revenue collection over the years, our cost of collection has actually…

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Foremost financial institution in Nigeria, First Bank of Nigeria Limited, has extended its agency banking network to 14 major markets and business points across Bayelsa, Cross River and Delta states through a campaign. The bank said in a statement that the campaign was part of efforts to deepen financial inclusion in Nigeria. It said the market activation, which spanned over three weeks between November 24 and December 16, 2018, was an intensive period of customer engagement, education and awareness creation of the Firstmonie Agent Network and by extension, financial inclusion.…

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Nigerians living in the United Kingdom sent £3.27 billion back home in 2017, according to a report by the World Bank. A study researched by the bank has found that Nigeria was the top receiver of cash from the United Kingdom in 2017. Nigeria was ranked the largest remittance recipient in sub-Saharan Africa and the sixth largest amongst lower-middle-income countries. “Remittances to Sub-Saharan Africa are estimated to grow by 9.8 percent from $41 billion in 2017 to $45 billion in 2018. Projections indicate that remittances to the region will keep…

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Foremost financial institution, First Bank of Nigeria Limited has expressed its commitment to helping young entrepreneurs in the food and agriculture sectors to grow. During a food and drink fair organised by the bank in partnership with an event planning company, Eventful Limited in Lagos, the bank created an opportunity for budding entrepreneurs to showcase and sell their products. The event was attended by entrepreneurs and customers who came in with their relatives to enjoy and relax at the occasion. During the event, different activities were organised to make the…

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Access Bank PLC have recently acquired Diamond Bank PLC in a recent merger deal. According to a statement released by Diamond Bank, the merger aims to serve as a tool for enhanced banking in the country. “We are delighted to announce that the Board of Diamond Bank has selected Access Bank as the preferred bidder with respect to a potential merger of the two banks that will create Nigeria and Africa’s largest retail bank by customers. The Board of Diamond Bank believes that the merger is in the best interest…

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Union Bank has won the Best Company in Environmental Excellence Award and the ‘Peoples’ Choice Award for the Most Outstanding Company in CSR/Sustainability’ at the 2018 Sustainability, Enterprise and Responsibility Awards (SERAs). The awards were presented at the SERAS ceremony which took place recently at the MUSON centre in Lagos. Following an extensive vetting process that included on-site inspection of applicants’ Corporate Social Responsibility (CSR) and sustainability projects and initiatives, Union Bank was nominated across seven award categories including The SERAs Innovation Prize, Best Company in Education and Best Company…

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Foremost African financial institution, Guaranty Trust Bank Plc has won the award for “Bank of the Year Nigeria” for the second year in a row at The Banker’s Bank of the Year Awards, regarded as the industry standard for excellence within the global banking sector. Guaranty Trust Bank Sierra Leone Ltd, a subsidiary of Guaranty Trust Bank Plc, was also recognized as the “Bank of the Year Sierra Leone” at the event, which held on November 29, 2018 at the Sheraton Grand London Park Lane, London, United Kingdom. The Banker,…

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In its “Get Alert in Millions (GAIM) season three” promo, Fidelity Bank Plc yesterday presented the first set of winners. At the first presentation of the promo, 13 customers went home with cash prizes of N1 million and N2 million respectively, while 18 others went home with consolation prizes which ranged from table top fridges, television and power generating sets. The 31 winners that emerged at the first monthly draw of the promo cut across the six draw zones: Lagos, south-west, north, Abuja, south-east and south-south. Speaking at the presentation,…

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Leading African financial institution, Guaranty Trust Bank plc, has announced the launch of Habari, Nigeria’s largest platform for music, shopping, lifestyle content and more. Unveiled on Friday, November 23, 2018 at a special event attended by renowned personalities in the entertainment, media and technology sectors, Habari offers users direct access to the largest catalogue of local and foreign music online, a seamless shopping experience and an exciting way to connect with friends, amongst other features. Built around the everyday lives of customers, Habari is the first mobile platform in Nigeria…

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