Business

  A seeming boardroom crisis that may rock troubled Heritage Bank to its foundation is currently brewing in the bank. Competent sources within the bank told THE WITNESS that the imbroglio involves the current managing director and chief executive of the bank, Mr. Akinola George-Taylor and some board members. Less …

The shareholders of TrustBanc Holdings Limited have approved the injection of N1.5bn capital into its microfinance bank subsidiary, just as the parent company’s rating has been upgraded by DataPro from A to A+ with a stable outlook. According to a statement issued on Monday, the shareholders’ approval aims to further …

Aminu Umar-Sadiq, CEO of NSIA. The Nigeria Sovereign Investment Authority has commenced the second phase of its highly anticipated NSIA Prize for Innovation (NPI) programme, selecting the top 25 semi-finalists to participate in a rigorous three-week accelerator programme. This initiative aims to support and empower promising start-ups. The NSIA opened …

  The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), has written to the military high command, alleging illegal lifting of petroleum product by Exxon Mobil at Bonny River Terminal in Rivers State. The letter, signed by the Authority’s Chief Executive, Mr Farouk Ahmed, and addressed to the Chief of …

Global Bank Limited, one of the new entrants into the Nigerian banking sector, led by Peter Amangbo as chairman and Elias Igbinakenzua as its chief executive officer, is in the news for the wrong reason. The bank has filed an application before a Lagos high court seeking an order for …

President of Nigeria, Bola Tinubu The Socio-Economic Rights and Accountability Project has sued President Bola Tinubu, over “the failure to probe the allegations that USD$2.1 billion and N3.1 trillion public funds of oil revenues and budgeted as fuel subsidy payments are missing and unaccounted for between 2016 and 2019.” SERAP …

Wema Bank Plc, the leading financial institution in innovation and technology has launched Phygital Branch, a self-service platform that combines the best aspects of traditional and digital banking, in all its branches nationwide. “Phygital is the result of Wema Bank’s recognition that a segment of our customers still enjoys the …

Contrary to speculations making the round that President Bola Tinubu has directed the suspension of Mallam Mele Kyari as the Group Chief Executive Officer of the Nigerian National Petroleum Company Ltd, there is no such directive from the President. Presidency sources confided in this newspaper on Saturday night that the …

Dazzles stakeholders with growth across key metrics Rising from a lower profit margin of N10.2billion and a debilitating Non-Performing Loan portfolio of 45 per cent in 2015, to an impressive profit of N147billion and a significantly lowered NPL rate of 5.6 per cent in 2022, FirstBank has proven that its back-to-back …

Emirates Airline is unveiling a new closed loop recycling initiative this month, where millions of onboard items such as plastic trays, bowls, snack and casserole dishes, will now be recycled in a local facility and remade into fresh, ready-to-use Emirates meal service products. Marking United Nations World Environment Day on …