Business

Justice P. I. Ajoku of the Federal High Court sitting in Port Harcourt, Rivers State has remanded Fasiku Olusegun Rapheal, a banker and former staff of First City Monument Bank, FCMB in custody for alleged stealing and currency counterfeiting to the tune of Twenty-Three Million, Five Hundred Thousand Naira (23,500,000.00). …

First Bank of Nigeria Limited, Nigeria’s premier financial services institution, has announced a phased corporate name change of its subsidiaries in the United Kingdom and Sub-Saharan Africa. FBNBank UK, FBNBank Sierra Leone, FBNBank Gambia and FBNBank DRC are the first set of subsidiaries effecting the name alignment. They are now …

  A contracting firm, Eastline Energy Resources Limited says it has begun the process of filing an exhaustive and comprehensive lawsuit against Conoil, an oil and gas conglomerate owned by Nigerian billionaire, Mike Adenuga over its alleged failure to pay its debt. Obioma Chimechefulem, Managing Director of the firm disclosed …

The statement made available to Daily Record on Thursday read: “Our attention has been drawn to a sponsored sensational report by some online publications on a charge brought against the Bank,” the statement made “While we will not be able to offer further comments as the matter is sub-judice, suffice …

Sterling Bank Plc, has just announced that it requires a short extension outside the deadline for filing its Annual Financial Statements (AFS) for the year ended 31st December 2022. This was contained in a copy of the bank’s letter to the Nigerian Exchange (NGX) filed on the 29th of March, …

  Dangote Industries Limited (DIL) has formally listed its N300 billion Series 1 and 2 bonds issued under the Dangote Industries Funding Plc during a grand listing ceremony at both the FMDQ and the Nigeria Exchange Limited (NGX) in Lagos. Olakunle Alake, Group Managing Director of Dangote Industries Limited told …

Transnational Corporation Plc (Transcorp) has released its financial results for the full year ended December 31, 2022, demonstrating significant improvements in its major income lines. The conglomerate with investments in the Hospitality, Power, and Oil & Gas sectors, recorded growth in its profit before tax, which rose by 8% to …

  Emirates Flight Training Academy (EFTA) continues to live up to its promise of offering cutting-edge tech and state-of-the-art aircraft to train pilots of the future and help close the industry’s skills gap. The Academy is now bolstering its current fleet with an order for three twin-engine DA42-VI and its corresponding flight …

Stanbic IBTC Bank PLC, a subsidiary of Stanbic IBTC Holdings PLC, has completed the first inbound commercial transaction on the Pan African Payment and Settlement System (PAPSS) in Nigeria, making history. PAPSS is an initiative of the African Union and the AfCFTA Secretariat, designed to provide a secure and efficient …

Zenith Bank Plc has announced its audited results for the year ending December 31, 2022, achieving an impressive double-digit growth of 24% in gross earnings from NGN765.6 billion reported in the previous year to NGN945.5 billion in 2022. This is despite the persistent challenging macroeconomic environment and headwinds.   According …