Mr Aigboje Aig-Imokhuede, Chairman of Access Holdings Plc, has expressed confidence about raising 300 million dollars in capital for Access Bank, considering the bank’s strong market position and shareholders’ support. Aig-Imokhuede said this in an interview on the sideline of Access Holdings’ second Annual General Meeting(AGM) held in Lagos. The Central Bank of Nigeria (CBN),…
Olusegun Alebiosu has been appointed as the Acting Managing Director/Chief Executive Officer of First Bank of Nigeria Limited (FirstBank Group), effective April 2024. Alebiosu steps into this pivotal role from his previous position as the Executive Director, Chief Risk Officer, and Executive Compliance Officer, a position he held since January 2022. Alebiosu brings to the…
President Bola Tinubu has appointed new boards and managements for the country’s apex capital market regulator, Securities and Exchange Commission (SEC) and the insurance sector regulator, National Insurance Commission (NAICOM). The new board and management of SEC included Mr. Mairiga Katuka, Chairman; Mr. Emomotimi Agama, Director-General; Frana Chukwuogor, Executive Commissioner, Legal and Enforcement; Mr. Bola…
The Federal Government has begun disbursement of the N200 billion Presidential Conditional Grant Scheme to verified applicants. The Bank of Industry had said it would be disbursing three categories of funding to support manufacturers and businesses across the country. Giving a progress report on X (formerly Twitter) on Tuesday, the Minister of Industry, Trade and…
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, says the Nigerian economy is moving in the right direction as policies of the new administration has started slowing down food inflation. The minister spoke virtually on Channels Television’s Business Incorporated programme from Washington DC where he is attending the IMF-World Bank Spring…
Power Crisis Deepens as DisCos Struggle to Prioritize Band A Customers The lingering gas shortage crippling power generation in Nigeria since January has left many electricity distribution companies (DisCos) grappling to provide the mandated 20-hour daily supply to their Band A customers. According to findings by Sunday PUNCH, while DisCos strive to meet the required…
UBA Voices Confidence in Meeting N500 Billion Capital Requirement United Bank for Africa Plc (UBA) has expressed optimism about its ability to comply with the Central Bank of Nigeria’s (CBN) revised capital base requirement for commercial banks with international authorization. During the bank’s 2023 Full Year Investors’ Conference Call on Friday, UBA’s Group Managing Director/Chief…
Inflation Soars to Record High Despite Naira’s Rebound Nigeria’s inflation rate surged to an unprecedented 33.2% in March, defying the recent appreciation of the naira currency. The latest Consumer Price Index report from the National Bureau of Statistics revealed a staggering 1.5 percentage point increase from February’s 31.7% rate, marking the 15th consecutive monthly rise…
Finance Minister Commends SecureID for Driving Digitization Efforts Mr. Wale Edun, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, recently visited SecureID Limited, a leading smartcard manufacturing company, to acknowledge its significant contributions to the country’s digitization initiatives. During his visit to SecureID Limited’s corporate headquarters, Edun was impressed by the company’s ability…
Nigeria’s Business Leaders Strategize Amidst Challenges Representatives from Nigeria’s diverse private sector convened at the Doing Business in Nigeria Conference to address strategies and solutions for navigating the country’s demanding business landscape. Themed ‘Sustainable Transformations: Innovating for Growth,’ the conference aimed to facilitate knowledge exchange among industry professionals to offer valuable insights into overcoming the…
