By Our Reporter   The news making the rounds in the banking sector is not a palatable one. It is about the conviction of an Ecobank former employee, Judith Okonkwo who defrauded top business mogul, Aliko Dangote to the tune of N19million. To this end, an Ikeja Special... Read more
Zenith Bank will target more retail lending in 2019 – Amangbo
Zenith Bank Plc is increasing its focus on consumer lending as lower oil prices weigh on the economy, hurting its business customers. The Lagos-based bank is expecting to expand retail loans as a percentage of total credit to about four per cent this year from less than one per... Read more
UBA, Japan Trade Office Collaborate To Promote MSMEs In Africa
United Bank for Africa (UBA) Plc has indicated its readiness to support the Japanese government in its drive to promote Small and Medium Scale Enterprises across Africa. The Chairman, UBA Group, Mr. Tony Elumelu, indicated this on Monday, when the members of the Japan External Trade Organisation (JETRO), led... Read more
UBA at it again… Customers Win N30m in Wise Savers Promo, N90m Still Up for Grabs
United Bank for Africa (UBA) Plc, Pan-African financial institution, has rewarded 20 loyal customers with N1,500,000 each, in the first edition of its quarterly draw for the ongoing UBA Wise Savers Promo, which was held at the bank’s headquarters in Lagos on Tuesday. At the event, a total of... Read more
NSE Lists 108 Bonds In 2018 As Market Capitalisation Declines To N21.90 trillion
Between January and December 2018, the total number of listed bonds on the Nigerian Stock Exchange (NSE) increased to 108 bonds from 85 in 2017. According to NSE, the increase helped to moderate the decline in number of quoted equities from 172 in 2017 to 169 last year. With... Read more
Tony Elumelu Foundation Opens Applications For 5th Cycle Of $100m Entrepreneurship Programme
The Tony Elumelu Foundation, the leading African-funded and founded philanthropy committed to empowering African entrepreneurs, is now accepting applications for the 2019 cohort of the TEF Entrepreneurship Programme. The Programme is a 10-year, $100 million commitment to identify, train, mentor and fund 10,000 African entrepreneurs. The Programme’s objective is to... Read more
At last Access Bank acquires Diamond Bank
Access Bank has finally acquired Diamond Bank and this is authoritative. According to insiders, the official announcement of the transaction will be made in the course of the week by the Central Bank of Nigeria (CBN). The acquisition was midwifed by the CBN in a bid to further consolidate... Read more
Fidelity Bank Rewards Customers in Promo
A total of 13 customers of Fidelity Bank Plc emerged the first set of winners in the Get Alert in Millions Season three promo (GAIM-3) draw by the bank that took place in Lagos at the weekend. In all, they won N15 million in cash as well as various... Read more
Fitch Upgrades UBA to ‘B+,’ Stable Outlook
  Fitch ratings has upgraded United Bank for Africa Plc Long Term Issuer Default Rating (IDR) to ‘B+’, with stable outlook. The global rating agency also upgraded the Viability Rating of the pan-African bank to “b+” from “b”. The rating upgrade came on the back of consistent improvement in... Read more
Why Diamond Bank chairman, three other directors resigned
The chairman and three non-executive directors of Diamond Bank have resigned from their positions. This was confirmed by the bank in a letter dated October 24 and sent to the Nigerian Stock Exchange. In the letter titled “RESIGNATION OF CHAIRMAN AND NON-EXECUTIVE DIRECTORS,” the bank notified “the Nigerian Stock... Read more