Business

In furtherance of its commitment to spearhead value-driven mobile and digital banking in Nigeria, First Bank of Nigeria Limited has announced the launch of the LIT Application, created to revolutionise the culture and experience of mobile banking in Nigeria. The state-of-the-art banking app is the first of its kind in …

As the Naira continues to take a heavy beating against the major international currencies at the foreign exchange (forex) market, the Central Bank of Nigeria (CBN) said its major concern, for now, was boosting Dollar supply to the market windows and not the valuation of the local currency. The Director …

Equities have been ranked as the best investment asset class to hedge against inflation from August 2020 to August 2021. The Financial Derivatives Company (FDC) disclosed this in the inflation vs investment return data released for August in Lagos. Among the four asset classes tracked by the FDC, the Nigerian …

The Niger State Internal Revenue Service has closed down the premises of Abuja Electricity Distribution Company (AEDC), eight banks, and three other organisations. In a document obtained by The Guardian, the chairman of the board, Mohammed Madami Etsu, noted that the affected organisations were yet to pay their tax of …

When Africa’s e-commerce market leader, Jumia released its 2021 Q2 result, one of the interesting revelations was the upward trend of orders on the platform. The e-tailing platform said “Orders reached 7.6 million, up 13% year-over-year.” This, the report said, was the fastest volume growth of the past  five numbers …

The President/Chief Executive, Dangote Industries Limited, Aliko Dangote has disclosed plans to increase the human capacity at the Dangote Refinery Project site from 40,000 to 57,000 personnel in the coming months. According to him, the project currently employs 29,000 Nigerians and 11,000 foreigners at the 650,000 barrels-per-day world’s largest single …

  The management of the Innocent C. Ike-led Polaris Bank Plc is still trying to recover from the embarrassment caused by one of its employees working at its Computer Village, Ikeja, Lagos Branch, after he stole a whopping N20 million from a customer within seven days. While the dust raised …

Francis Atuche A Lagos State High Court in Ikeja has frozen assets and funds to the tune of N19,178,253050 billion allegedly kept in 24 banks by Francis Atuche, a convicted former managing director of the defunct Platinum Habib Bank, Bank PHB. The banks include Access Bank Plc, Citi Bank Ltd, …

Nneka-Onyeali-Ikpe, Fidelity Bank MD/CEO Fidelity Bank Plc under the leadership of Nneka Onyeali-Ikpe has reportedly sacked over 200 staff amidst the economic crisis rocking the country. The development is however in defiance to the Central Bank of Nigeria (CBN)’s order directing money deposit banks in the country to stop further retrenchment …

In the fourth quarter of 2020, unemployment rate in Nigeria increased to 33.30 percent from 27.10 percent in the second quarter of 2020 according to the Bureau of Statistics. The rate of unemployment in Nigeria continues to increase at an alarming rate and it requires meaningful and tangible actions. As a socially conscious organization, VFD Group, a proprietary investment company, has kicked off application …