First Bank

Wednesday, August 23, 2023

Zenith Bank And Afcfta Sign Agreement To Develop Smartafcfta Portal

Zenith Bank Plc has signed a Memorandum of Understanding (MoU) with the African Continental Free Trade Area (AfCFTA) Secretariat for the development of the SMARTAfCFTA Portal, for trade promotion within the African continent. The SMARTAfCFTA Portal, which has the capacity to provide information like trade indicators, market trends, custom tariffs, trade agreements, rules of origin, market access requirements of relevant jurisdictions, export potentials, export diversification indicators and contact details of business partners in target markets and other trade-related information about Africa, will help to unlock the vast opportunities for trade on the African continent.

The MoU was signed by the Group Managing Director/CEO of Zenith Bank Plc, Dr. Ebenezer Onyeagwu and the Secretary-General of the AfCFTA Secretariat, His Excellency Wamkele Mene, during the 8th Annual Edition of the Zenith Bank International Trade Seminar on Non-Oil Export themed "Nigerian Non-Oil Export Industry: The Present, The Future", held on Wednesday, August 8, 2023, at the Civic Centre, Victoria Island, Lagos and virtually.

Tuesday, August 22, 2023

Ex-OPEC President Diezani Alison-Madueke Charged With Bribery: UK Police

Former OPEC president Diezani Alison-Madueke has been charged with bribery offences relating to her time as Nigeria's oil minister, the UK National Crime Agency said on Tuesday.

Alison-Madueke, 63, has been on bail since first being arrested in London in October 2015. She will appear in court in the British capital on October 2, the NCA said.

Soon after her arrest, her family's lawyer told AFP she would strongly contest corruption allegations that have dogged her during and after her time in former president Goodluck Jonathan's government.

Wednesday, August 9, 2023

Moniepoint agent held over N16.3m POS fraud

A Moniepoint agent, Olumide Remilekun Owolabi, has been arrested by operatives of the Zone Two Police Command, Onikan, over alleged N16.3 million Point of Sale (POS) fraud.

Owolabi was apprehended following a petition from one Raphael Alabi to the Assistant Inspector General (AIG) in charge of the zone, Ari Mohammed Ali.

It was gathered that Alabi bought a POS terminal from Owolabi in March not knowing that the seller had allegedly fraudulently manipulated the machine by adding a chip and creating an application on his mobile phone that gave him access to every transaction made on the terminal.

Alabi alleged that the suspect criminally withdrew and diverted into his personal account, N16,381,000 from the POS terminal between March 10 and July, thus causing the complainant to record huge losses.

Consequent to the petition, the AIG detailed operatives of the Zonal Monitoring Unit to discretely investigate the matter and it was discovered that transactions within the stated period were indeed diverted.

“On the strength of this, the suspect was arrested and he made confessional statements to the crime. Investigation is still on to unravel more facts. Members of the public are hereby advised to be mindful of the POS operators they patronise,” Ali said.


Nearly 100 Croatian soccer fans face murder, gang-related charges in Greece after deadly violence


Nearly 100 arrested Croatian soccer fans appeared in an Athens court Wednesday to face serious criminal charges that include murder and membership of a criminal organization, over their alleged involvement in deadly fan violence. The handcuffed youths – many with their shirts pulled over their heads to hide their identity – appeared before an investigative magistrate a day after a 29-year-old Greek fan was stabbed to death outside AEK Athens’ stadium, prompting the cancellation of a Champions League qualifier against Dinamo Zagreb.

Court officials said the magistrate issued the blanket charges against all 103 suspects, including 97 Croatian nationals. The indictments also included charges of multiple assault and illegal possession and use of explosive material. The murder-related charge is likely to be dropped for most of the defendants as the investigation proceeds.

Amateur video of the attack showed dozens of youths wielding bats and iron bars running past the stadium, as flares and petrol bombs exploded. Ten people were injured and four remain hospitalized.

Friday, August 4, 2023

Nigerian tycoon and Platform capital boss Akintoye Akindele arrested over alleged fraud

Akintoye Akindele, a Nigerian serial entrepreneur known for his key role in the African private equity space, has been arrested by the Nigerian police on charges of fraudulent diversion of payment for crude oil supplied to Duport Midstream Company. 

The arrest follows an invitation by the police to account for the alleged sale and receipt of payment for crude oil in his capacity as CEO of Duport Midstream Company, which aims to promote sustainable and impact accretive energy production and consumption in Africa.

Akindele, who is the founder and managing partner of Platform Capital Group, a growth markets-focused investment firm, reportedly left the country without responding to the police invitation, leading to his subsequent arrest.

In addition to the current charges, he is under investigation based on a separate petition filed by concerned shareholders of Duport Midstream Company Limited, accusing him of misappropriating millions of dollars of company funds.

Tuesday, August 1, 2023

Zenith Bank Maintains Position As Best Commercial Bank In Nigeria For A Third Consecutive Year And Best Corporate Governance Bank At World Finance 2023 Awards


For a third year running, Zenith Bank Plc has been named the Best Commercial Bank in Nigeria at the World Finance Banking Awards 2023. The bank also emerged as the Best Corporate Governance Bank, Nigeria, in the World Finance Corporate Governance Awards 2023, retaining the award for a second consecutive year.

These awards were presented to Dr. Ebenezer Onyeagwu, the Group Managing Director/Chief Executive Officer of Zenith Bank Plc, at the London Stock Exchange recently. The recognitions celebrate the bank's tremendous feats and milestones in financial performance, financial inclusion, corporate governance, and sustainability.