In a landmark judgement, the Tapa Commercial Division of the Lagos State High Court on Wednesday, dismissed a multi-million Naira debt recovery suit filed by United Bank for Africa Plc against its customer, Arueyingho Gbemi Mac, finding that the bank acted in breach of regulatory and fiduciary obligations. Justice A. …
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THE United Bank for Africa (UBA) has refused to accept a letter from the Take-It-Back Movement, a pro-democracy group, demanding that their account be unfrozen. Newsextra24 understands that the account was allegedly frozen on the instructions of Nigeria’s secret police, the Department of State Services (DSS), due to the group’s call for #EndBadGovernance protests. …
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UNITED Bank for Africa Plc (UBA), has posted a net profit of N142.5 billion for the first quarter ended March 31, 2024. This represented 165 per cent increase, from N53.5 billion posted in the corresponding quarter of year 2023. The group, in a statement made available to newsmen on Tuesday …
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Candidates participating in the November 6 governorship election in Anambra State on Tuesday issued a joint statement asking the Federal Government to release Nnamdi Kanu, leader of the Indigenous People of Biafra (IPOB), in order not to avoid acts that may jeopardise the conduct of the election. It would be …
Read More »Chairman of the United Bank for Africa, Tony Elumelu, has offered to make an engineering student, Emmanuel Nduka, a part of his upcoming mentorship session. Emmanuel achieved sudden fame on the business and employment-oriented online service, LinkedIn, when he wrote a brief bio, stating his life’s journey so far. Taking …
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An hour ago, I sat in on a training session for new managers within our Heirs Holdings Group. As these outstanding young men and women transition into supervisory roles, there is a critical need for the organization to train and support them to deliver on their new responsibilities. New managers …
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A Federal High Court in Lagos Thursday ordered seven banks to remit a total of $793,200,000 (about N249,659,700,000.00), allegedly hidden with them in breach of the Treasury Single Account (TSA) policy, to the Federal Government. A vacation judge, Justice Chuka Obiozor, made the interim order following an ex parte application by the …
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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 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 Central Bank of Nigeria has approved an increase in the maximum amount that would be sold to each licensed Bureau De Change operator from $30,000 to $50,000 per week. The decision was taken at the Bankers’ Committee meeting which was held at the headquarters of the CBN on Tuesday …
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