First Bank

Thursday, August 11, 2022

Why Ambode Is Trending

 


Akinwunmi Ambode, the only governor limited to a single term since the political family of Asiwaju Bola Ahmed Tinubu took the reins of the affairs of Lagos state is back on the lips of many.


Since the 59year old left office in the

Saturday, August 6, 2022

Lightning strike near White House kills two people


Two people were killed and two more were in critical condition on Friday after a lightning strike near the White House the night before, police in the US capital said.

The lightning hit Lafayette Square, a small park across the street from the White House, shortly before 7:00 pm (2300 GMT) Thursday, leaving two men and two women with “critical life-threatening injuries,” according to a statement from Washington’s fire and emergencies department.

All the victims were taken to local hospitals, but on Friday morning the Metroplitan Police confirmed that two of them — 75-year-old Donna Mueller and 76-year-old James Mueller, both from Janesville in Wisconsin — had been pronounced dead.

Friday, August 5, 2022

How Peter Obi lied about Nigeria's exports statistics in 2021 - AFP CheckFact


Nigerian opposition politician and presidential candidate Peter Obi has twice claimed that the country exported less than $30 billion of goods and services in 2021, underperforming smaller African peers such as Morocco. Obi argued that Nigeria was “not a producing country” and has a weak export base, causing dollar scarcity in the country. However, the claim is false; official data shows annual exports from the west African country have exceeded $30 billion for well over a decade.

Obi is a two-term ex-governor of Nigeria’s southern Anambra state and is bidding to succeed President Muhammadu Buhari in next year’s election as leader of the Labour Party. 

He first made the claim during an hour-long interview that was aired on July 6, 2022, by Nigerian broadcaster Arise Television.

Thursday, August 4, 2022

Wema bank refutes forgery allegation, says MD’s arrest inappropriate, violation of human rights


The Management of Wema Bank Plc. has kicked against the warrant of arrest of its Managing Director, Mr. Ademola Adebise, saying it is inappropriate and a violation of his fundamental right to fair hearing.

The bank also refuted and dismissed the allegations of dud cheque and forgery levelled against the managing director, as well as dismiss the inappropriate issuance of bench warrant on him.

The Chief Magistrate, Elizabeth Jones of the Chief Magistrates’ Court in Wuse, Abuja had issued a warrant of arrest against Adebise following his non- appearance before the court to respond to an ongoing forgery case brought against the bank by one Mr George Halliday despite five adjournments.


Court orders arrest of Wema Bank MD over alleged forgery



A warrant of arrest has been issued against Mr Ademola Adebisi, Managing Director of Wema Bank Plc, for alleged forgery.

Chief Magistrate Elizabeth Jones of the Chief Magistrates’ Court in Wuse, Abuja, issued the warrant following Mr. Adebisi’s failure to appear before the court on five adjournments.

The Bank chief was invited to appear before the court to respond to an ongoing forgery case brought against the bank by one Mr George Halliday.

The complainant had accused the bank of failing to honour a garnishee order absolute issued by the High Court of the FCT directing them to pay him the sum of N50 million.

Impoverished Zimbabweans turn to scrap metal trade as inflation bites


It is 11 a.m. and Shepherd Chowe has arrived at a scrap yard where dozens of other metal pickers await to sell their wares.

For two sacks, Chowe gets paid $6.

Chowe has cart filled with tins, iron rods and other metallic objects that he coolected in Hopley, a poor settlement about 15 km west of Zimbabwe's capital, Harare.

"I start moving around the township at 8 am when families are up. My job entails asking people to sell their scrap metal or anything metallic they are not using anymore. We always negotiate the price before coming here to sell. I can take care of my family through this business; I get $40 per day or less. Although it is tough, I can provide for them. Scrap metal has given us hope" Chowe said.

N109bn Fraud: How Suspended AGF Idris, Compromised TSA, GIFMIS, IPPIS, for Personal Gains


Fresh facts have emerged on how former suspended Accountant-General of the Federation, Ahmed Idris compromised the Treasury Single Account , TSA, Government Integrated Financial Management Information System , GIFMIS, Integrated Payroll and Personnel information system , IPPIS, and carted away billions of naira belonging to the government.

Idris and his co-defendants: Godfrey Olusegun Akindele, Mohammed Kudu Usman are standing trial in a N109 billion fraud before Justice A. O. Adeyemi Ajayi of the Federal Capital Territory High Court, FCT, Maitama, Abuja.

Tuesday, August 2, 2022

Wema Bank records impressive financial performance in 2022 Half-Year Reports


Wema Bank Plc, pioneer of Africa’s first fully digital bank and one of Nigeria’s most resilient banks, has posted a growth performance across all financial indices in the First-Half of its 2022 operations. This information is contained in the Financial Results for the Period Ended 30 June, 2022 released in Lagos on 28 July, 2022.

In the report, the bank recorded an increase of 50 percent in its Gross Earnings from the ₦39.82 billion it recorded in H1 of 2021 to ₦59.59 billion. It also grew its Interest Income by 55 percent year-on-year, from the ₦32.19 billion recorded at this period last year to ₦49.75 billion. The bank’s Non-Interest Income went up from ₦7.64 billion in the period ended 30 June, 2021 to ₦9.85 billion, an increase of 29 percent.

Thursday, July 28, 2022

5 reasons Addy Finance and Investment Ltd crashed


While 2021 served as a recovery year for many individuals and organisations that drowned in the loss caused by the Covid pandemic, the reverse was the case for some investors who lost a fortune to investment firms.

Like many investments platform that went down last year, Addy Finance and Investment Ltd, formally known as AddyFx, was one of such. Billions of naira of investors’ money was trapped as the company could no longer keep up with the payment promise.

AddyFx was founded by Adoms Uju Francis in November 2018 and operated as a Forex trader which provided double-digit monthly returns on investments either: monthly every 6 months or every 12 months with options to either terminate at the end of a pre-agreed cycle, or rollover to mark the beginning of a fresh cycle.


Monday, July 25, 2022

For The Thirteenth Consecutive Year, Zenith Bank Retains Position As Number One Bank In Nigeria By Tier-1 Capital In The 2022 Top 1000 World Banks Ranking


Zenith Bank Plc has been ranked as the Number One Bank in Nigeria by Tier-1 Capital in the 2022 Top 1000 World Banks Ranking published by The Banker Magazine. For the thirteenth consecutive year, the Bank retained its position as the number one Tier-1 bank in Nigeria with a Tier-1 Capital of $2.75 billion, emerging as the 460th Bank globally.

The ranking, which was published in the July 2022 edition of The Banker Magazine of the Financial Times Group, United Kingdom, was based on the 2021 year-end Tier-1 capital of banks globally. Zenith Bank's financial performance for the year was underpinned by double-digit growth of 10% in gross earnings, with an improved market share in both retail and corporate sectors despite a very challenging macroeconomic environment aggravated by the COVID-19 pandemic.  

Thursday, July 21, 2022

ASUU, Peter Obi, Bianca Ojukwu, Putin, top Nigerians’ Google search in half-year 2022


The Presidential candidate of the Labour Party in the forthcoming 2023 elections, Peter Obi, has emerged as one of the top 3 most-searched people in Nigeria in the last 6 months. This is according to the latest Google trends report released today.

Other top trending people in Nigeria within the last 6 months are Bianca Ojukwu and the Russian President, Vladmir Putin.

Stakeholders Identify Non-Oil Exports As Panacea For Economic Rejuvenation At Zenith Bank International Trade Seminar


Stakeholders unanimously called for support of Nigeria’s Non-Oil Export Sector at the 7th Annual Edition of the Zenith Bank International Trade Seminar themed “Unlocking Opportunities in Nigeria’s Non-Oil Export Business”, which was held on Wednesday, July 20, 2022, at the Civic Centre, Victoria Island, Lagos and virtually.

 

In his Goodwill Message Presentation, the Founder and Chairman of Zenith Bank Plc, Mr. Jim Ovia, CON, called for a concerted effort towards diversifying Nigeria’s export base through the promotion of non-oil exports. Highlighting the importance of non-oil export to the nation’s economy, Ovia pointed out that Nigeria exported cocoa and several other non-oil products for years before oil was discovered. He cited the example of the 25-storey Cocoa House in Ibadan, which was built with proceeds from cocoa exports. He pointed out that many countries in the world, such as Japan and China been successful because they are doing a great deal of innovation, production and manufacturing of goods and services. According to him, we should also look at promoting the nation’s non-oil export sector through technology to create technological giants like Apple, Tesla, and Google. And we already have technology companies in this mould in Nigeria, such as Flutterwave, which has a valuation of $3 billion, making it more valuable than some banks in Nigeria. Speaking further on the enormous potential in Nigeria’s non-oil sector, Ovia highlighted the phenomenal growth of Nigeria’s emerging financial technology (Fintech) companies such as Flutherwave, OPay, Interswitch, Kuda and Paystack, with market valuations of $3 billion, $2 billion, $1 billion, $500 million, $200 million, respectively. According to him, this underscores the enormous opportunity in the Fintech space. He also noted that the most capitalized companies in the world, such as Apple, Microsoft,  Alphabet (Google), Amazon, Tesla, Visa, etc., are not oil companies but are in the technological innovation space.

Tuesday, July 19, 2022

All Set For Zenith Bank’s 7th Annual International Trade Seminar On Non-Oil Export


The 7th Annual Edition of the Zenith Bank International Trade Seminar will be held on Wednesday, July 20, 2022, at the Civic Centre, Victoria Island, Lagos, and virtually by 9.00 am. The seminar, themed “Unlocking Opportunities in Nigeria’s Non-Oil Export Business”, is part of Zenith Bank's efforts to support the Central Bank of Nigeria (CBN) initiatives to grow the country's non-oil export sector.

The seminar will draw participation from trade practitioners, local and foreign exporters, manufacturers, financial institutions, and government agencies. This forum would provide an opportunity for all participants, including relevant government agencies, to explore ways to unlock the immense opportunities in Nigeria's Non-Oil Export Sector.

Sunday, July 17, 2022

Nigerian executives of US fintech firm jailed over $160 million sent to Nigeria

Ping Express, a Texas-based remittance company with ties to the United Kingdom (UK), has pleaded guilty in the United States (US) to money laundering after sending over $160 million to Nigeria in suspicious transactions over a period of three years.


According to a statement by the US Department of Justice (DOJ), the fintech company admitted it failed to seek sufficient details about the sources or purposes of the funds involved in the transactions or the customers initiating the transmissions.

Chief Executive Officer (CEO) of Ping Express, Anslem Oshionebo, and the firm’s Chief Operating Officer (COO), Opeyemi Odeyale, were both handed a 27-month prison sentence for their involvement, according to US legal filings.

The firm’s IT/Business Development Manager received a prison sentence of 42 months.

According to the DOJ statement, three individuals – including two of Ping Express’s top customers – previously pleaded guilty to transmitting illegally-derived funds through the company.

“Collins Orogun admitted last week that he accepted a fee in exchange for transferring money for ‘romance scam’ fraudsters and other criminals.

“In one instance, an Indiana woman sent $15,000 to ‘Carson Jacks’, a purported oil roughneck in the Gulf of Mexico she fell in love with online, after he told her he’d contracted malaria. In another, a second Indiana woman sent $6,300 to ‘Thomas Ken,” a purported Irish ship captain she fell in love with online, to fix his ship.

“In two years, Orogun received more than $1.3 million in cash, cashier’s checks, and wires into several US bank accounts he controlled and then quickly moved more than $1 million of the funds to Africa through Ping Express.

“He faces up to 20 years in federal prison and is set to be sentenced on Jan. 23, 2023,” the statement said.

Ping Express was licensed to transmit money but was not licensed to conduct currency exchange and charged US customers a fee to remit money to beneficiaries in Nigeria and other African nations.

Ping Express now faces five years of probation and a fine of up to $500,000.

Tuesday, July 12, 2022

South Africa police hunt five gunmen over Soweto bar shooting

South Police are hunting five gunmen who burst into a bar in Soweto and killed 15 customers in a hail of bullets, South Africa's Police Minister has said.

Behki Cele described the incident in the early hours of Sunday (July 10) morning as "such a brutality".

He said the high number of rounds forensics teams found at the scene meant the killers would have had to reload in the middle of the slaughter.

“There were about 130 empty cartridges of AK-47. Which means those people that were there really meant business of killing.”

Wednesday, July 6, 2022

Dangote customers to win N1billion in new Cement Promo


Consumers of Dangote Cement Plc, a leading cement brand in Nigeria, stand the chance of winning over N1 billion cash prizes in the Dangote Bag of Goodies Season 3 promo, tagged ‘Spell Dangote and become a multi-millionaire.’

 

The promo, which was launched in Lagos yesterday in the presence of regulators from the National Lottery Regulatory Commission and Federal Competition and Consumer Protection Commission, is expected to offer life-changing prizes, which will have immense economic values to the loyal consumers.

 

According to the company, Dangote Cement Bag of Goodies Promo Season 3, which runs from July 5 to October 31, 2022, promises to be a blast as there are over 32.3 million mouth-watering prizes to be won, including television sets, refrigerators, rechargeable fans, 2KVA generators, and millions of airtime gifts of major networks in Nigeria.

 

Interestingly, every single bag of Dangote Cement to be produced daily through the promo period will contain scratch cards for various gifts to be won by consumers.

 

Speaking at the unveiling ceremony, Group Managing Director, Dangote Cement Plc, Michel Puchercos stated that the Bag of Goodies Promo series is designed to continuously reward loyal Consumers who have stayed faithful and remained the backbone in the cement business. He said these consumers have contributed in no small measure to make Dangote range of cement products the first choice for construction purposes across the country.

 

Puchercos explained: “We are offering life-changing prizes, which have immense economic values as they can be used to kick-start small scale businesses. These prizes are targeted to help many families recover from the impact of the COVID-19 global pandemic, which adversely affected their sources of livelihood.”

 

Giving details about the promo, National Sales Director, Dangote Cement, Funmi Sanni, described the promo as a huge investment aimed at rewarding new and existing consumers, “especially in these trying times of our nationhood with the much needed financial and material palliatives.”

 

Tuesday, July 5, 2022

For A Second Consecutive Year, Zenith Bank Maintains Position As Nigeria’s Best Commercial Bank, Also Named Best Corporate Governance Bank At World Finance 2022 Awards


Zenith Bank Plc has emerged as the Best Commercial Bank, Nigeria in the World Finance Banking Awards 2022, retaining the award for a second consecutive year. The bank was also named as the Best Corporate Governance Bank, Nigeria in the World Finance Corporate Governance Awards 2022.

 

The awards, which were presented to the Group Managing Director/Chief Executive of Zenith Bank Plc, Mr. Ebenener Onyeagwu at the London Stock Exchange yesterday, were in recognition of the bank’s ability to embrace digital transformation and best-in-class sustainability and corporate governance practices, leading to a stellar business performance in a difficult economic climate.

 

PSG name Galtier as new manager after parting ways with Pochettino


Paris St Germain announced Christophe Galtier as their new manager on Tuesday (July 5), shortly after the Ligue 1 champions parted ways with Mauricio Pochettino.

Galtier joins PSG on a two-year contract after leaving Nice last month, having guided them to a runners-up finish in the French Cup and fifth place in Ligue 1 last season.

The 55-year-old Frenchman joined Nice in 2021 after leading Lille to their first Ligue 1 title since 2011 in the previous campaign. Before joining Lille, Galtier spent eight seasons at Saint Etienne, where he won the French Cup in 2012-2013.

Friday, July 1, 2022

Senator Nwaoboshi jailed seven years over money laundering


The Lagos Division of the Court of Appeal today July 1, 2022, convicted and sentenced Senator Peter Nwaoboshi, senator representing Delta North Senatorial District at the National Assembly, to seven years imprisonment

The court ordered that his two companies, Golden Touch Construction Project Ltd and Suiming Electrical Ltd, be wound up in line with the provisions of Section 22 of the Money Laundering Prohibition Act 2021.

Thursday, June 30, 2022

JJC Skillz, Funke Akindele's marriage crash


Movie producer JJC Skillz has revealed that he and his wife Funke Akindele have been separated.

He made this announcement in an Instagram post on Thursday morning, admitting that their marriage has been having issues for over two years.

JJC Skillz wrote on Instagram:

'Dear Friends and family I need to let you know that Funke and I have separated. '

While it lasted we shared a lot of things together and have created 2 beautiful children. The last two years have been extremely difficult for us. I know I have tried my best to fix things but I believe it is beyond repair now. 

3 months ago and at Funkes insistence I moved out of the house and apart from AMVCA have not been able to get Funke to sit down in an amicable manner to discuss the future of our relationship. 

I'm making this announcement so that the public is clear that we both are pursuing separate lives. We still have issues that need to be addressed such as the custody and wellbeing of our children which is paramount as well as business interests which need to be disentangled but I have no doubt that these will be resolved one way or the other


Mr. Abdul Bello

Wednesday, June 29, 2022

FIrstBank partners with Eloy Foundation to promote the sustainability of female owned small businesses


In furtherance of the need to empower female business owners across the country, The ELOY Foundation, in partnership with FirstBank presents the ELOY Foundation Business Shower, created to support female entrepreneurs on their journey to building sustainable businesses. The support from FirstBank will be carried out through the FirstGem loan scheme designed for female-owned or partnered MSMEs and its SMEConnect initiative.

The partnership focuses on key sectors of the economy and designed to have female entrepreneurs exposed to essential business skills like training, networking and the ELOY Foundation Business Toolkit, a compilation of business survival skills nuggets. The business shower will avail businesses a platform to pitch their ideas to win seed grants and join the ELOY Foundation Sustainable Empowerment Programme 2022. Participants will also be able to access the FirstGem single digit loan, where eligible

Safe driving: FRSC commissions Dangote truck driving school


 …Dangote also trains block makers in Kano, Katsina to prevent building collapse

Leading Cement manufacturer, Dangote Cement Plc, on Wednesday launched the Dangote Articulated Truck Driving School in a move aimed at inculcating safe driving culture in its drivers so as to stem the tide of road crashes.

The opening of the school in partnership with the Federal Road Safety Corps (FRSC), the Company management reasoned, would also make the drivers become better road users.

The Academy, which was officially commissioned by Corps Marshal of the Federal Road Safety Corps (FRSC), Dr. Boboye Olayemi Oyeyemi, was characterized as historic and unique. 

Monday, June 27, 2022

Justice Olukayode Ariwoola is Nigeria's next Chief Justice of Nigeria


Justice Muhammad has resigned from his position, reportedly on health grounds.

The CJN’s Special Assistant on Media, Mr Isah Ahuraka confirmed the news and Justice Ariwoola is set to be the next most senior.

Justice Ariwoola was born on Aug. 22, 1958, and appointed a Justice of the Supreme Court of Nigeria in 2011.

Friday, June 24, 2022

Rivers ADC governorship candidate picks Tonto Dikeh as running mate


The Governorship candidate of the African Democratic Congress (ADC) in Rivers State, Mr. Tonte Ibraye, has announced Nollywood controversial actress, Tonto Dikeh as his running mate for the 2023 governorship election in the state.

The actress took to her official Instagram page on Friday to announce the news and wrote:

“I thank Mr. Tonte Ibraye(@tonteibraye), the Governorship Candidate of the African Democratic Congress (ADC) Rivers State for nominating me as his running mate.


“We are looking forward to investing massively in social protection, creating a social value system for young people, increasing women’s inclusion in our governance system, supporting small businesses and strengthening our traditional institutions to be active players in the drive to bring sustainable development to the good people of Rivers State.

“I am glad to be a proud member of the #RiversRescueMission2023
Please get your PVC and join the movement.
You are the Future and The future is now!TonteTonto2023″

Wednesday, June 22, 2022

Court order Mompha's arrest, revoke bail


A Special Offences Court, Ikeja, on Wednesday, issued a bench warrant for the arrest of suspected internet fraudster Ismaila Mustapha known as Mompha.⁣


Justice Mojisola Dada ordered his arrest for failing to appear in court on two scheduled dates for his trial.⁣

The Economic and Financial Crimes Commission (EFCC) is prosecuting Mompha on an 8-count charge of conspiracy and money laundering of over N6 billion. He is being prosecuted alongside his company, Ismalob Global Investment Limited.⁣

Mompha was arrested on January 10 by the EFCC but was arraigned and granted bail.⁣

His matter could not proceed due to his absence at the last adjourned date.⁣

The EFCC lead counsel, Rotimi Oyedepo, asked the court for another stand down, but the judge returned the request.⁣

Oyedepo told the court that the development shocked him.⁣

He urged the court to allow the defence to speak to his client and put him on the speaker to confirm the position of things.⁣

Guardian

Monday, June 20, 2022

Fuel scarcity return to Lagos, as filling stations hoard product while some add N4 to pump price


Fuel scarcity has returned to parts of Lagos, as queues started resurfacing in some filling stations along Lagos Ibadan expressway, Ikeja, Kola, Ikorodu road, and Ikoyi as soon as early hours on Monday.

This is as some filling stations along these axes and more as queues were sited at filling stations across the areas mentioned above.

This will be the second time this year fuel scarcity will be hitting major cities in Nigeria. 

Sources say the smooth distribution of petrol is currently been disrupted and marketers and transporters are now finding it difficult to bridge products to other parts of the country from the depots because of running costs.


Friday, June 17, 2022

Suki Salaam drops new single 'Abena'


Sunkanmi Salaam, a.k.a Suki Salaam is one of Nigeria's fastest-rising artists from Africa.

The talented artist has just released a new song titled “Abena”. 

This Afrocentric Pop-soul vibe is smoothly delivered and will make you sing along all day. 

“Abena” celebrates the diverse beauties of African women. 

The Afro-Jazz instrumentation introduces the signature 'Fela' sound' blended with Suki's eccentric melodies.     

This timeless record will push the narrative of the Afrobeats genre and its fusion.




 

Sunday, June 12, 2022

Burna Boy breeze to Spain after police escorts shoot married man and friend in the head


The Lagos State Police Commissioner’s Special Squad has detained five policemen attached to singer, Damini Ogulu, aka Burna Boy, for attempted murder after they shot two fun seekers— Irebami Lawrence and another identified simply as Tolu— at Club Cubana on Victoria Island, Lagos, on Wednesday.

According to a preliminary report by the Bar Beach Police Division, trouble started when the singer and five police escorts visited the nightclub around 4am on June 8.

About four policemen waited outside while one of the policemen, identified as Inspector Ibrahim, who was in mufti, accompanied the Grammy-Award-winning artiste into the club.

According to multiple witness statements, the singer was in the VIP section with three women when he spotted another woman.

He was reported to have told Ibrahim to invite the woman to join him.

Wednesday, June 8, 2022

Tinubu defeats Vice President Yemi Osinbajo, Amaechi, Ahmed Lawan others to clinch APC Presidential ticket

Ex-Lagos State governor, Bola Tinubu, has taken clinched the presidential ticket of the All Progressive Congress APC.

A review of the sorting and counting shows how Mr. Tinubu had over 50 per cent of the total votes.

Other candidates who have gotten significant votes are ex-transport minister Rotimi Amaechi, Vice President Yemi Osinbajo and Senate President Ahmad Lawan.

Sunday, June 5, 2022

Oyo deputy governor dumps PDP for APC


The deputy governor of Oyo state Rauf Olaniyan has defected from the People Democratic Party (PDP) to the All Progressives Congress (APC).

His decision to cross-carpet ended weeks of speculation about the deputy governor’s membership in the Peoples Democratic Party (PDP).

Mr. Olaniyan said his defection was informed by calls from his supporters who were unhappy with how he has been excluded from the affairs of the PDP and the state.


Wednesday, June 1, 2022

Zenith Bank Redeems $500m Eurobond


Zenith Bank Plc has announced the redemption of the balance of $107.4 million of its $500 million Eurobond Notes due May 30, 2022.


Analysts say this is a demonstration of the Bank’s highly diversified and robust funding sources, and its pedigree and track records in treasury management.


The Eurobond Notes were issued on May 30, 2017, as the second tranche of the Bank’s $1 billion Global Medium Term Note Program, with a 5-year tenor and coupon of 7.375%.


In September 2019, the Bank had redeemed $392.6 million of the Notes through a Cash Tender Offer ahead of its maturity date of May 30, 2022.


Zenith Bank Plc, Nigeria’s largest and Africa’s twelfth largest bank by Tier 1 capital (The Banker Top 1000 World Banks 2021 Ranking) has consistently demonstrated market leadership, growth capacity, a solid and liquid capital base, good returns on investment and excellent customer service.


Over the years, the Bank has maintained a deep understanding of the market and its operating environment to sustain excellent results, an indication of the Bank’s robust enterprise risk management framework and strong corporate governance.

How Nepal Oil boss,Ngozi Ekeoma defrauded Nigeria of $10m

 Mr. and Mrs. Ekeoma further instructed him and one Ugochukuwu Onwugbuna to form a firm in Liberia called Dexter Oil Limited to conduct oil trading transactions.

Ngozi Ekeoma, CEO of Nepal Oil and Gas Services Limited, might face jail time for allegedly defrauding the government of $10 million in subsidies.
This is in response to a recent plea by Chukwuemeka Ekwnuife, a former banker, to the Honorable Minister of Justice and Attorney General of the Federation (AGF), Abubakar Malami SAN, over the alleged scam, ENigeria Newspaper understands.

Excitement in shareholders’ camp as Firstbank sheds NPL burden


With a significant cut in its impairment charges (which translates into a clean loan book) in its 1Q, 2022 results, after it successfully brought down its non-performing loan to 6.1 per cent in 2021 full year performance, analysts say the repeat of the impressive performance of FirstBank in the first quarter did not only show the consistency in its rebound, but that it demonstrated the fact that the recovery is real. 

For the shareholders of the Nigerian banking behemoth, First Bank of Nigeria Limited, it is a season of celebration and a period to shower praises on the board and management of the bank for successfully working its way back into reckoning, after a long period of operational challenges mostly blamed on rising cases of non-performing loans.

Friday, May 27, 2022

Femi Otedola to Earn N951mn Dividends from 7.57% First Bank Stake


Billionaire, Mr. Femi Otedola, who has accumulated a 7.57% equity stake in FBN Holdings (FBNH) Plc will earn an estimated N951 million as dividends from his FBNH shares.

Otedola’s direct and indirect holdings of FBNH the parent company of First Bank amounted to 2.717 billion shares in December 2021.

FirstBank Bounces Back to its Leadership Position, Delivers a Fantastic Performance in 2021


As financial market analysts continue to digest the 2021 financial results of the FirstBank Limited, which they say reflect the return of the banking conglomerate to its leadership position, Festus Akanbi writes that the regime of strong fundamentals which the robust performance represents is in tandem with the ongoing restructuring being midwifed by the current board and management of the company

 

The Nigerian investing community was held spellbound earlier in the week when FBN Holdings Plc released its much-awaited 2021 financial statements to the public, showing a stellar performance, especially in its banking subsidiary, First Bank of Nigeria Limited, which is said to be indicative of its strong recovery from its hitherto dwindling financial position.

 

Dangote still Africa’s Most Admired Brand for 5 Consecutive Years




The Pan-African and fully integrated conglomerate, Dangote Industries Limited (DIL) has again emerged as the most Admired Brand in Africa for the year 2022, for its leadership position in driving quality brands across the continent. 

Dangote won awards in 8 different categories, on Wednesday at the venue of the award presentation organised by a renowned organisation Brand Africa in Lagos. The other awards include: Most Admired Nigerian Brand, West Africa’s Most Admired Brand that symbolises African Pride; West Africa’s Most Admired African Brand, and Most Admired Nigerian Brand in Africa, among others. 

Thursday, May 26, 2022

Banky W losses primary hours after he was declared winner

The latest report has suggested that the popular Nigerian-American singer and aspirant on the People’s


Democratic Party, PDP, Olubankole Wellington, popular as Banky W, has lost his party’s ticket in Eti-Osa federal constituency, Lagos hours after he was declared the winner.

According to an earlier report, Wellington polled a total of 28 votes to beat his opponent to the PDP’s ticket.

Developing...