FCMB Group To Acquire Majority Shareholdings In AIICO Pension Managers Ltd

Customer Service Week 2020: FCMB celebrates team work, commits to excellent service

FCMB Group Plc has announced it intends to acquire 96 percent of AIICO Pension Managers Limited through its pension management subsidiary, FCMB Pensions Limited. The announcement was made in a notification signed by Kayode Adewuyi and Ladi Balogun, The Chief Finance Officer and Group Chief Executive of FCMB Group, published by the Nigerian Stock Exchange today. The statement reads: “FCMB Group hereby notifies the Nigerian Stock Exchange and the investing public that its pension management subsidiary, FCMB Pensions Limited has entered into discussions with shareholders of AIICO Pension Managers Limited,…

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Polaris Bank Disburses Billions Of Naira Under Its Health Sector Loan In 30 Days…Still Counting

Polaris bank

Polaris Bank in its undisputable support for SMEs in the health sector (Private hospitals, Pharmacies, Retailers, Diagnostic centres, etc…) launched a one-stop-solution, in September 2019, and has disbursed billions to support the growth of the Nigerian health sector through tailor-made banking products for businesses in this space. This drive was further re-enforced by the CBN N100billion Health sector support fund set aside by the Apex Bank to help cushion the effect of COVID-19 on the nation’s economy and the health sector in particular. This was made known by the Bank’s…

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Sanwo-Olu Appoints First Bank MD As LSSTF Member

#EndSars Looting: Sanwo-Olu Promises Tax Break, Others For Business Owners At Circle Mall

The Executive Governor of Lagos State, Babajide Sanwo-Olu has appointed Ibadan-born Adesola Adeduntan as a member of The Lagos State Security Trust Fund (LSSTF) Adeduntan, a Managing Director at First Bank, was appointed in the newly reconstituted boards of The Lagos State Employment Trust Fund (LSETF) and The Lagos State Security Trust Fund (LSSTF). A statement by his Chief Press Secretary, Gboyega Akosile, explained that the new board appointment of Adeduntan and others, which take immediate effect, was necessitated by the vacancies in the two organizations. The Governor thanked the…

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UBA Group Appoints Ayoku Liadi And Oliver Alawuba As DMD Nigeria And Africa

UBA

United Bank for Africa Plc (UBA), the leading pan-African financial services group, is pleased to announce the appointments of Ayoku Liadi and Oliver Alawuba as Deputy Managing Directors in charge of UBA’s Nigeria and Africa businesses, respectively. The creation of the new positions, reporting to Group CEO, Kennedy Uzoka, represents further strategic recognition of the growth of UBA’s pan-African business, now representing in excess of 40% of Group revenue, and the critical importance of Nigeria, the Group’s largest market. Combined with UBA’s unique International Business, operating from New York, London…

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Updated: Herbert Wigwe Mops 3.87m Units Of Access Bank Shares

Access Bank to provide N50bn Interest-free loans to SMEs affected by #EndSARS protests

The Chief Executive Officer of Access Bank Plc, Herbert Wigwe has purchased 3.87million units of the bank’s ordinary shares valued at N26.4 million. The purchase was seen in a disclosure to the Nigerian Stock Exchange (NSE), which is part of the regulator’s conditions for insider trading in shares of quoted companies. The details of the disclosure show that Mr. Wigwe purchased 3,094,853 units of Access bank shares at N6.81k on the 15 June 2020 and another 50,000 units at N6.71k on the 16 June 2020. The total units of shares…

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Airport Reopening: NAMA Procures Search And Rescue Facilities To Boost Capability

NAMA

Ahead of the planned resumption of flights in the country, the Nigerian Airspace Management Agency (NAMA) has procured sophisticated Search and Rescue (SAR) equipment to boost its aeronautical search and rescue capability across the Nigerian airspace. The equipment which is being distributed among the nation’s Rescue Coordination Centres (Lagos and Kano) and Rescue Sub-centres (Abuja, Port Harcourt, Maiduguri, Enugu, Ilorin, and Sokoto) include plotting facilities, communication facilities, medical supplies and International Civil Aviation Organization (ICAO) documents among others. The plotting equipment according to the agency includes workstations (for digital plotting)…

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Zimbabwe Suspends Mobile Banking, Stock Exchange Trade

President of Zimbabwe

Zimbabwe on Friday abruptly suspended all mobile money transactions, the most widely used platform to make and receive payments in the crisis-ridden country, claiming the move would tackle crime and economic sabotage. The government also suspended all trade on the country’s stock exchange, which it accused of being complicit in illicit financial activities. An information ministry statement said the government was suspending with immediate effect “all monetary transactions on phone-based mobile money platforms in order to facilitate intrusive investigations”. “Government is in possession of impeccable intelligence … whereby mobile-based phone…

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CBN Alerts The Public On Fake Twitter Handle Of One Of Its Directors

CBN releases guideline on Private Sector-Led Accelerated Agriculture Development Scheme

The Central Bank of Nigeria (CBN) has alerted the public on the fraudulent operations of a fake twitter handle, @YusufPhilipYila, purported to belong to its Director, Development Finance Department, Mr. Philip Yila Yusuf. The CBN’s Director of Corporate Communications, Mr. Isaac Okorafor, raised this alert in a statement on Sunday in Abuja. Okorafor said fake messages relating to the bank’s N50 billion Targeted Credit Facility (TCF) have been posted on the twitter handle with the intent of wooing unsuspecting loan seekers and owners of small-scale businesses to enter into correspondence…

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How We’ll End DStv, Others’ Monopoly – FG

Nigeria@60: DStv Nigeria Unveils New TVC To Mark Independence

…Cable TV shouldn’t raise tariff after COVID-19 tax rebate — Minister   The Federal Government has revealed plans to end the monopoly enjoyed by cable television service providers, especially Digital Satellite Television, owned by MultiChoice, a South Africa-based company. The plan is said to include ending exclusive rights to sporting events. Only DStv currently broadcasts major football competitions in Nigeria, especially the English Premier League. The government said it had amended Nigeria’s broadcasting code to prevent DStv and others from monopolizing their channels and contents. The House has been probing…

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GTBank, Zenith Announces Board Meeting And Closed Period For Q2 2020 Results

Gtbank and Zenith bank

The Board of Directors of two of the biggest banks in Nigeria Guarantee Trust Bank and Zenith Bank have announced the date of their Board Meeting to consider and approve audited financial statements for the quarter ended 30th of June 2020. In separate letters signed by their respective Company Secretary and published by the Nigerian Stock Exchange (NSE) the Board of the tier 1 lenders also announced the Closed Period for dealing in their shares GTBank board meeting has been scheduled to hold on Wednesday, 22nd July 2020 via electronics…

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