Fidelity Bank Plc has entered into a binding agreement for the acquisition of 100 per cent equity stake in the United Kingdom arm of Union Bank Plc following a letter of ‘No Objection’ issued by the Central Bank of Nigeria (CBN). This was revealed in a statement issued by Fidelity Bank and signed by its company secretary, Ezinwa Unuignoje, through ...

POS transactions in Nigeria have increased to N4.6 trillion in the first seven months of 2022, a 29.3% increase compared to N3.56 trillion recorded in the corresponding period of 2021 and a staggering 90.3% increase when compared to the same period of 2020. This is according to data culled from the Nigeria Inter-Bank Settlement System (NIBSS) between January and July ...

Stanbic IBTC Pension Managers, a subsidiary of Stanbic IBTC Holdings recently opened a new branch as part of its commitment to increasing its customers’ access to excellent pension services in Nigeria. The new branch office is located at 76A Adetokunbo Ademola Street Victoria Island Lagos State. The Pension Fund Administrator noted that the new branch is an additional avenue for ...

The Central Bank of Nigeria (CBN) has stated the promotion of the non-oil sector growth is a major component of the monetary policy. This was disclosed by Mr Godwin Emefiele, Governor of CBN, represented by the Director, Corporate Communication Department, Osita Nwanisobi at the 33rd Seminar organised by CBN for the Finance Correspondents and Business Editors on Saturday in Lagos, ...

Nigeria’s Agriculture sector grew by 1.20% (year-on-year) in real terms for the second quarter of 2022, a decrease of 1.96% points from the preceding quarter which recorded a growth rate of 3.16% and also a decrease of 0.10% points from the corresponding period of 2021. This was disclosed in the Q2 2022 GDP report released by the National Bureau of ...

Jaiz Bank Plc, has gotten shareholders’ approval to raise N150 billion and restructure into a Holding Company in order to achieve the bank’s short-term and long-term growth strategy. The proposed structure will afford the bank the opportunity to penetrate into other related areas like Pension, Asset Management etc. The approval was secured on August 16, 2022, at the Bank’s 10th ...

Stanbic IBTC Plc has announced an interim dividend of N1.50 per ordinary share of 50 kobo each, subject to deduction of appropriate withholding tax and regulatory approval. In a disclosure filed to the exchange by the company, this will be paid to shareholders whose names appear in the register of members as at the close of business on Tuesday 6th ...

First Bank of Nigeria Limited has announced the 5th edition of its Corporate Responsibility & Sustainability (CR&S) week, scheduled for 22- 27 August 2022. According to the bank, the move is in  furtherance of its continued commitment to impacting the lives of individuals in its host communities across seven countries, namely, Nigeria, United Kingdom, Ghana, DRC, Guinea, Sierra Lone, Senegal ...

The Securities and Exchange Commission has urged all stakeholders in the capital market to continue to work towards reducing the volume of unclaimed dividends and reiterated that stiff penalties will be meted out to any stakeholder whose action appears to frustrate the efforts of the Commission on this objective. This was disclosed by Alhaji Lamido Yuguda, the Director-General, at a ...

The Central Bank of Nigeria (CBN) Governor Godwin Emefiele has revealed that from next week, Nigerians will be able to open an eNaira wallet and conduct transactions by simply using a designated USSD code on any phone. According to him, to carry out these transactions, one will only have to dial *997# from their phones. Emefiele stated these at the ...