The Asset Management Corporation of Nigeria (AMCON) has recorded another victory over an obligor whose total indebtedness is over N600million with the takeover of the assets of Hydro Hotels Limited. This was confirmed during the weekend by Mr. Jude Nwauzor, who is Head of the Corporate Communications Department at the …

…Demands immediate reversal The Yoruba One Voice (YOV), a coalition of all Yoruba groups and organisations in the diaspora consisting of more than fifty Yoruba organisations from the four continents of the world strongly display concerns over the federal government increase of electricity tariff and fuel price. In a press …

Access bank Plc, Nigerian tier-1 bank, and biggest in customer size has released its half-year ended June 2020 financial statement. The results revealed that the lender grew its Post Tax Profit by 1% Year-on-Year (YonY) to N61.0 billion from N61.8 billion. The Bank has therefore proposed an Interim Dividend of …

By Adedoyin Giwa Job cuts, layoffs, wage cuts, and employee redundancy have continued to exacerbate as the coronavirus (COVID-19) pandemic and its resultant global economic recession continue to take its damaging toll on our socio-economic life, the economy and every other human activity across countries. According to the recent update …

  The life of a pregnant woman may have been saved if the doctor that was to operate on her was not allegedly held by policemen enforcing the curfew in place to restrict movement amid the COVID-19 pandemic. PUNCH Metro gathered that the surgeon was held for about one hour …

The Central Bank of Nigeria (CBN) has pegged the maximum loan an obligor can access under its N250bn intervention fund for the gas sector at N10bn. It made this known in a guideline titled ‘Framework for the implementation of intervention facility for the national gas expansion programme’, which was released …

L-R: Ibrahim Magu, FCMB CEO, Nuru and Pastor Omale Prophet Emmanuel Omale, the general overseer of Divine Hand of God Prophetic Ministry, has sued embattled First City Monument Bank (FCMB) and its managing director, Adam Nuru for N5 billion, before the High Court of the Federal Capital Territory Abuja. In the suit …

FCMB CEO, Adam Nuru The Economic and Financial Crimes Commission (EFCC), on Friday, arraigned seven suspects before an Ikeja Special Offences Court, Lagos, for allegedly hacking into the computer database of First City Monument Bank (FCMB) and transferring over N900 million belonging to customers of the bank into an unknown account. Reports …

By Ayomide Oriade Covid-19 pandemic has left the world in dire straits by causing a recession from which global economies will have to wait till 2022 for recovery. The World Bank 2020 Global Economic Prospect, June 2020, forecast that the pandemic will plunge all countries into the worst recession in …

In a surprise move, the Nigerian Electricity Regulatory Commission has approved an increase in electricity tariff with effect from September 1, 2020 (today). This comes three months after the tariff hike implementation slated for July 1 was halted by the National Assembly, which prevailed on the distribution companies to shelve …