First Bank

Friday, April 29, 2022

Heritage Bank on hook of $2.16 million Japaul Gold Contract

This is not the best of times for Heritage Bank and  Japaul Gold and Ventures Plc, a company that is routinely flirting with bankruptcy, which has been ensnared in a default by Japaul leaving the bank on the hook for $2.16 million.

Japaul Gold and Ventures Plc was involved in the sale of commodity (gold dore bars) covered by a forward contract with Quinn Mcgrath Limited in which Quinn Mcgrath made a prepayment of $2.16 million guaranteed by Heritage Bank.

The bank guarantee was for a period of 60 days in which Japaul Gold and Ventures Plc was expected to have executed the contract.

Firstbank wins best bank in Nigeria and best bank in digital transformation Nigeria 2022

Nigeria’s premier banking institution and leading financial services inclusion services provider, First Bank of Nigeria Limited has won two awards: Best Bank in Nigeria 2022 and Best Banking Digital Transformation Nigeria at the International Investor Awards 2022, a print and online publication that provides insights, news and visual informative pieces with topics ranging from world markets, investing opportunities, industry analysis and so much more. All content is dedicated to the global investment community that wants to take a step ahead.


Thursday, April 28, 2022

UBA Posts 18% Growth In Earnings As Profit Hits N44.5bn

Africa’s global bank, United Bank for Africa (UBA) Plc has released its unaudited results for the first quarter ended March 31st, 2022, recording impressive growth across its income lines.

The bank’s result which was released to the Nigerian Stock Exchange on Tuesday showed that gross earnings rose by 18.3% from N155.4 billion in 2021 to N183.9 billion; while operating income which stood at N106.6 billion as at March 2021, grew by N18% to N125.9 billion in the year under consideration.

Zenith Bank Plc reports profit of N58.20 billion in Q1 2022

Nigerian lender, Zenith Bank Plc, has released its Q1 2022 financial result, which revealed a profit of N58.20 billion in Q1 2022. This reflects a 9.68% increase year on year.

The bank also reported earnings per share of N1.85, a 9.47% growth from the N1.69 reported a year earlier in Q1 2021.

The statement revealed that in Q1 2022, net interest income grew by 20.89% from N83.17 billion to N100.54 billion in the current period. Zenith Bank’s profit performance is on the back of margin all growth as income from interest, trading income and fees and commission income all appreciated year on year.

Wednesday, April 27, 2022

Nigerian Fraud Suspect Extradited to U.S. over Alleged $148,000 Scam

A wire fraud suspect Adedunmola Gbadegesin was on Monday, April 26, 2022, extradited to the United States where he is wanted in a case of conspiracy to commit wire fraud and money laundering.

The offences contravene Title 18, US Code, Section 1349 and 1956 (h), and carry a maximum jail term of 20 years.

His extradition was coordinated by the EFCC, following a request from the office of the Attorney General of the Federation, pursuant to a February 11, 2022 Order by Justice D.E Osiagor of the Federal High Court, Lagos, in Suit No. FHC/L/CS/765/21, which granted a request to extradite the suspect to the United States to answer for criminal charges bordering on a romance scam, wire fraud, and money laundering.

Monday, April 25, 2022

NDLEA arrests drug baron behind N3billion tramadol linked to Abba Kyari’s team

The National Drug Law Enforcement Agency (NDLEA) has arrested a billionaire drug baron allegedly behind the N3billion Tramadol deal involving the embattled suspended Deputy Commissioner of Police, Abba Kyari-led Intelligence Response Team, IRT.

The alleged drug baron is Chief Afam Mallinson Emmanuel Ukatu who is the Chairman of Mallinson Group of Companies.

This is contained in a statement by the Director Media and Advocacy, NDLEA, Mr Femi Babafemi, on Monday in Abuja.

Sunday, April 24, 2022

Glo Battle of the Year Nigeria nears climax with Semi Finals

The Globacom-sponsored dance reality television show, Glo Battle of the Year Nigeria, neared a climax on Saturday night with the semifinals of the competition held at the Convention Centre, Eko Hotel, Lagos. 

With the thrilling build-up to the event, the excitement in the hall was quite visible. The guests’ thirst for fun was richly quenched with the pre-live show having, among many exciting things, the quarterfinal dance battles for the Krumping, Locking, Popping, and Afro Dance categories. The Locking quarterfinals produced extra excitement as two wildcards- C Flyand Benedict, surprisingly made it to the semifinals. Benedict advanced to the final stage but was stopped by the eventual winner, Locking Mike.

Monday, April 18, 2022

Lagos shuts Chrisland School over Rape and child porn issues

The Lagos state government has shut Chrisland School over distributing footage of pre-teen students of the school involved in what is now being alleged to be a case of rape.

A woman had earlier claimed that her 10-year-old daughter was raped during a trip to Dubai which was organised by the Lagos school.

Pupils from the private school located in Victoria Garden City were in the UAE to participate in the World School Games between March 10 and 13, 2022 when the incident happened.

Friday, April 15, 2022

N25 million damages: Linda Ikeji calls law firm ‘idiot’, to appeal case

Linda Ikeji has reacted to the judgement of the High Court of the Federal Capital Territory, Abuja asking her to pay general and exemplary damages of N25 million and publish a written apology to a Claimant, Mrs Ajibola Ajayi, daughter of former Governor of Oyo State, Senator Abiola Ajimobi.

Following the ruling, the blogger took to Twitter calling the law firm, Olaniwun Ajayi LP ‘an idiot’ lawyer, ‘inexperienced 26 years old’. This was confirmed via her comment on her Twitter handle on Thursday.

Wednesday, April 6, 2022

St. Nicholas Hospital Facebook page hacked

 ...renamed DODO

St Nicholas Hospital’s Facebook page has been hacked by unknown person(s) and renamed DODO.

This was revealed by the management of the hospital via messages shared with patients and clients on Wednesday.

According to the message, which was seen by Nairametrics, the hospital is working on recovering the account. Meanwhile, patients and clients have been advised to disregard any information or message from DODO.

NURTW finally appoints MC Oluomo's replacement

The National Union of Road Transport Workers NURTW has dissolved its Lagos State council formerly headed by Musiliu Akinsanya popularly known as MC Oluomo.

The ‘Dissolution of Lagos State Administrative Council’ letter, was jointly signed by its national president, Alhaji Tajudeen Baruwa, and general secretary, Alhaji Kabiru Ado Ya’u.

The union’s secretary in Lagos State, Seyi Bankole, has however been announced as the new head of NURTW in Lagos.