Category: Business

With the complete takeover of Mainstreet Bank on January 27, 2015, analysts believe Skye Bank Plc has positioned itself as one of the largest in terms of branch network, thereby bringing confidence to the bank’s customers and investors. With this feat, Skye Bank which is known for its dominant operations in the Southwest will also take advantage of Mainstreet Bank to deepen its penetration of the South-East and South-South regions where it is currently less represented. And with the total transfer of the ownership after 100 percent payment, the bank’s…

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  In its effort to build as well as provide a secured e-Banking platform that supports its operations globally through strategic partnerships, United Bank for Africa (UBA) Plc has introduced mobile Point of Sale (mPOS) terminals. The Bank said that it has gone live with this initiative in partnership with POS partners across Africa to satisfy its teeming customers. A mobile POS terminal is about the size of Blackberry Curve phone, but works just like the traditional POS currently used in many stores and cash collecting business outlets. mPOS terminals…

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  One of the leading financial institutions in the country, Guaranty Trust Bank Plc, has again added another feat to his numerous achievements, as the bank again got the award as the ‘Best Corporate Governance, Africa’, for the Financial services category by the Ethical Boardroom Magazine UK. The ‘Corporate Governance Award’ organized by Ethical Boardroom magazine recognizes outstanding companies who have exhibited exceptional leadership in the area of governance and professional ethics to ensure protection and long-term value for all their stakeholders.   The award is an acknowledgement of the…

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One of the nation’s financial institutions, Access Bank Plc is planning to raise its capital by way of rights issue. The Bank has been meeting with domestic investors over the past week to gauge interest in a possible rights issue of N60-70 billion ($369-$431 million) by the fourth quarter, according to reports. Access Bank , which raised a $400 million in Eurobond in June, wants to bolster its core capital, the fund manager who attended the meetings in Lagos told Reuters, declining to be named. Access Bank was also discussing…

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The Federal Operations Unit of the Nigeria Customs Service, Zone A, Ikeja, intercepted 22 brand new vehicles smuggled into the country in a recent raid of the Ikoyi andVictoria Island areas of Lagos State. A statement by the Public Relations Officer of the unit, Mr. Uche Ejesieme, on behalf of the Controller, Mr. Turaki Adamu, said the raid was made at 11.45hrs on Sunday, August 24, 2014. The vehicles, according to him, are 19 Toyota Hilux pickups, two Izuzu-DMAX jeeps and one Toyota Land Cruiser GRX 2014 model, which were…

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