MORE facts have emerged about the circumstances surrounding the sudden departure of Sola Adeduntan, the once powerful Managing Director and CEO of Nigeria’s oldest bank, First Bank who was still attending the on-going World Bank/IMF spring meetings in Washington at the time the news broke in Lagos. BusinessDay reporters understand …
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THE Managing Director of First Bank Plc, Dr Adesola Kazeem Adedotun, has informed the Chairman of First Bank, Hassan Odukale, that he will be taking pre-retirement leave. According to The Nation, Adedotun mentioned in a letter that although he was initially planning to retire in December, he has decided to start …
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We are Nigeria’s largest financial services institution by total assets and gross earnings. With more than 10 million customer accounts, FirstBank has over 750 branches providing a comprehensive range of retail and corporate financial services. The Bank has an international presence through its subsidiaries, FBN Bank (UK) Limited in London and …
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Telecoms companies on Tuesday accused banks of converting the Unstructured Supplementary Service Data (USSD) channel, which should be a service channel dedicated to promoting financial inclusion, into a revenue line. In a letter addressed to the Body of Banks’ Chief Executive Officers (BOBCEOS), the telcos, acting under the aegis of …
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A consortium of 7 local and international lenders has signed an agreement to refinance Neconde Energy Limited’s existing Senior Secured Medium-Term Loan Facility Agreement worth $640 million with Neconde Energy Limited, an indigenous Oil and Gas Exploration and Production company, following the 20 year renewal of the Oil Mining License …
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The Nigerian banking sector’s profit fell by 28.4 per cent in the 2015 financial year, the just released Afrinvest 2016 Banking Sector Report showed. The report, released in Lagos on Wednesday, indicated that foreign exchange volatility and lower oil price led to a major decline in the fortune of the …
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The CBN Governor Mr. Godwin Emefiele, Weekend, had a chat with members of Nigeria Newspaper Proprietors Association of Nigeria NPAN. He spoke on efforts being made by government, monetary and fiscal policy authorities to revive the economy. Here are excepts. Nigeria is in recession, the first in decades or few …
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The Central Bank of Nigeria, CBN, yesterday, ordered Authorised Dealers (banks) to allocate 60 per cent of their total Foreign Exchange, forex purchases from all sources (interbank inclusive) to manufacturers and 40 per cent to other users for the purpose of trade and other obligations. CBN Governor, Mr Godwin Emefiele …
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The Economic and Financial Crimes Commission has raised the alarm about the activities of identity thieves and automated teller machine fraudsters in the country. It has also urged Nigerians to be more careful when carrying out transactions via ATMs and to avoid disclosing their Personal Identification Numbers to others. In …
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MTN is the market leader in Nigeria’s mobile-phone marketMTN Group Ltd.’s biggest market is now its worst headache.Nigeria’s telecommunications regulator (NCC) last week slapped the mobile-phone operator with a $5.2 billion fine, wiping almost 20 percent off its market value over the space of four days. There is a lot …
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