Business

A driver, Mohammed Abdulrasheed and a businessman, Fatai Olanrewaju, have emerged as the latest millionaires in the ongoing First City Monument Bank (FCMB) promo Season Nine. They each won the star prize of N1 million at the second draw of the Promo held on July 26. Mohammed is based in the Hausa Tsoha Kasuwa community, Kaduna State while Fatai resides ...

The Ministry of Finance Incorporated, MOFI, the special purpose investment vehicle and asset custodian agency of the Federal Government of Nigeria, has disclosed its plans to identify, revive and list all moribund government assets on the stock exchanges in the country. Speaking on this plan uring a working visit to the Nigerian Exchange Limited, NGX , MOFI’s Managing Director/Chief Executive ...

Nigerian households and small businesses looking to acquire solar panels, batteries, inverters and other green energy equipment now have access to as much as N10 million to buy these assets through the First City Monument Bank (FCMB) Energy Finance Loan. The loan is designed to help homes and small businesses like hospitals, schools, restaurants, bars, stores, hotels, and fashion places ...

Major shareholders’ groups have condemned alleged attempts to weaken Nigeria’s oldest financial services group, FBN Holdings.   (FBNH) Plc. Shareholders under the auspices of the Trusted Shareholders Association of Nigeria (TSAN) alleged that renowned businessman, Oba Otudeko, was the one behind a court order that allegedly stopped FBN Holdings from holding its annual general meeting (AGM) scheduled for tomorrow. Speaking to ...

Capital inflow by way of Foreign Direct Investment (FDI) into the Nigerian telecoms industry has dipped by over 40 per cent, going by data released by the Nigerian Communications Commission (NCC). According to NCC, FDI in 2022 was approximately $399,905,531.38 against $753,044,446.35 it was in 2021 indicating a sharp drop of almost 50per cent. Though the report entitled: ‘2022 Subscriber/Network ...

With the aim of enhancing investor participation and securities lending transactions in the Nigerian capital market, the Securities and Exchange Commission (SEC), National Pension Commission (PenCom) and Nigerian Exchange Limited (NGX) have affirmed their commitment to further developing the securities lending facility. This was stated during the NGX Securities Lending workshop held on Wednesday, in collaboration with Central Securities Clearing ...

The naira has dropped by 3.2 per cent to N782.38 per dollar at the market-driven Investors and Exporters (I & E) window. It was said to have traded at N900 per dollar in the parallel market. The volatility is attributed to the rising backlog of unmet dollar demand and scarcity of the greenback at the official and retail ends of ...

Shareholders in FBN Holdings Plc have called on regulatory authorities to wade into alleged attempts by certain individuals to undermine the oldest financial services group in the country. Shareholders who staged a solidarity protest at the Marina, Lagos head office of FBN Holdings, said several petitions have been submitted to the regulatory bodies concerning clandestine plots to frustrate the board ...

Stanbic IBTC Bank PLC, a subsidiary of Stanbic IBTC Holdings PLC has reaffirmed its commitment to empowering Small and Medium Scale Enterprises (SMEs). To this end, the bank has signed a partnership agreement with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to provide training for 3000 Small and Medium Enterprises (SMEs) across various states in Nigeria. The ...

First Bank of Nigeria Limited has sustained its Senior Management Development Programme (SMDP) with the training of some of its senior management staff. The bank also announced the graduation of 20 participants in its fourth Senior Management Development Programme (SMDP) at an event held in Lagos. In a statement, the Group Head, Marketing & Corporate Communications, FirstBank of Nigeria Limited, ...