Category: Business

A Federal High Court sitting in Abuja has ordered Multichoice not to increase it’s tariff three weeks after doing so. Justice Nnamdi Dimgba on Monday asked the cable company, sued by the Federal Government, not to impose any hidden charges pending the determination of the plaintiff’s motion on notice for interlocutory injunction. The restraining order was issued in respect of Suit No FHC/ABJ/CS/894/18 brought before the court by the Consumer Protection Council in the light of the strong public interest raised in the application. The Attorney-General of the Federation and…

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Damilola Rachel Ajayi, a 26-year old undergraduate, , has emerged the overall winner of N5million star prize in the just-concluded Skye Bank Ref ‘n’ Win Promo. The ‘Ref n Win’ promo was a youth-focused initiative designed to reward Skye Bank’s account holders, who were mainly undergraduates across the country. This is just as the Bank’s mCash Merchant, Sulaiman Gidado, also emerged one of the top performing agents in the country, as made known by the Nigeria Inter-bank Settlement System (NIBSS) at the mCash relaunch in Lagos, recently.As part of the renewed efforts…

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The fourth edition of the Tony Elumelu Foundation (TEF) annual Entrepreneurship Forum is set to hold on October 25, 2018 in Lagos. The gathering is expected to bring together over 5,000 entrepreneurs, global investors, leaders from African public and private sectors as well as developmental organisations at the Federal Palace Hotel, Lagos. The event offers a unique opportunity to generate ideas, forge networks and bring policymakers and the private sector together, in a spirit of robust debate and interaction. The Forum will include an interactive session with President Uhuru Kenyatta…

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Fidelity Bank plc in partnership with WorldRemit, a digital money transfer service, has joined forces for instant money transfers to four million Fidelity Bank accounts in Nigeria. The new partnership further expands WorldRemit’s footprint in the country and allows the 15 million-strong Nigerian diaspora living in over 50 countries to send money directly from their phones to recipients in Nigeria.  The deal supports WorldRemit’s plan to serve 10 million customers connected to emerging markets by 2020. Commenting, Andrew Stewart, Regional Director of Africa and the Middle East at WorldRemit, said: “Nigeria…

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The Adekunle Ajasin University branch of Access Bank Plc has been consumed by fire which broke on Monday at the University campus in Akungba Akoko, Ondo State. The fire, which started in the early hours on Monday was said to have destroyed some offices and the section of the Automated Teller Machine of the bank. It was also gathered that an undisclosed amount of money kept inside the ATMs was destroyed in the inferno. A source disclosed that the cause of the fire could be connected to power surge. An…

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The Central Bank of Nigeria led Monetary Policy Committee on Tuesday left interest rates unchanged as widely anticipated. The CBN Governor, Mr Godwin Emefiele, who announced the decision of the committee at the apex bank’s headquarters in Abuja said the committee left Monetary Policy Rate unchanged at 14 per cent, while the Cash Reserves Ratio was left at 22.5 per cent. Also, Liquidity Ratio was retained at 30 per cent; Asymmetric corridor at +200 and -500 basis points around the MPR. The governor said the committee strongly considered tightening monetary…

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  In a bid to launch itself into relevance, Sterling Bank plc may have created more problems to itself with its trending advert that has gone viral on twitter. The tweet is a less-than-subtle shade thrown at the banks’ rivals including Guaranty Trust Bank, Access Bank, First Bank and Union Bank. It contains a graphic with the logos of the four banks manipulated to show they are not worthy of customers’ attention. It was not long before the four banks started to respond with digs of their own except for…

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As part of its contributions to improving security of lives and property in Lagos state, Fidelity Bank Plc has donated N50 million to the Lagos State Security Trust Fund (LSSTF). The cheque was presented by the bank’s Executive Director, Lagos and South-West, Mrs Nneka Onyeali-Ikpe to the Executive Secretary, LSSTF, Dr. Abdulrassaq Balogun,at a ceremony in Lagos. Onyeali-Ikpe, who commended the Lagos State government for its commitment to preserving public peace, and protecting lives and property of Lagosians, said security was paramount to business success. According to her no activity…

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In rewarding its customers for using their naira MasterCard for international transactions, First Bank of Nigeria Limited has announced a promotional campaign. The bank explained in a statement that the promo will run for four months, beginning from July 2018, through October 2018. The FirstBank naira MasterCard variants include the classic MasterCard Debit, Platinum MasterCard Debit, and the Expressions on cards. The cards are denominated in naira and issued in partnership with MasterCard worldwide. The cards are linked directly to customers’ naira denominated current and/or savings accounts and offer a convenient alternative to the use of cash and cheques by giving direct access…

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Fidelity Bank Plc has announced the launch of a payment solution designed primarily to allow customers send money and pay bills using their phone keyboards without recourse to the online banking platform installed on their mobile devices. The solution known as ‘Flashkey,’ according to the bank, was a ground-breaking initiative, a first of its kind in the Nigerian banking industry. It explained that the solution was designed to enable customers and members of the banking public initiate payments and effect transfers using their phone keyboard in an easy and convenient…

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