Business

The Lagos Division of the High Court ruled that Union Bank’s sale of a deceased customer’s luxury property in Ikoyi over a N4 million loan “sparks of fraud, collusion and definitely does not show good faith.” Justice I.O Harrison, who delivered the judgement, ruled that Union Bank “acted recklessly” in …

Unity Bank Plc has projected gross earnings of N27 billion and a Profit After Tax of N4 billion in Q4, 2024, in its latest earnings forecast released to the Nigerian Exchange Group. Although the projected gross earnings represent a marginal increase from the N26 billion projected for Q3 2024, the …

Contrary to reports in a section of the media that the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, has accepted Shell International Plc’s bid to sell its onshore assets to Renaissance in a transaction worth $1.3bn, investigations have revealed that the Commission has not approved the transaction.   There had been …

The Ajoke Ayisat Afolabi Foundation (AAAF) in partnership with Mrs. Folashade Afolabi, wife of Dr. Taiwo Afolabi, Chairman, SIFAX Group, has distributed bags of rice to 250 widows in Lagos. The donation was aimed at providing support to vulnerable households facing increased food prices and other economic challenges in the …

  Lotus Bank Limited has been hit by an insider fraud scandal allegedly involving over N336 million. Reports indicate that Abdulkarim Arome Mohammed, a staff member in the bank’s Financial Control Department, exploited his system privileges to defraud the bank of a total of N336,993,863.35. This incident comes just two …

The Nigerian National Petroleum Company (NNPC) Limited says it has signed an agreement with Chevron Nigeria Ltd (CNL), its joint venture (JV) partner, on the conversion of five oil mining lease (OMLs) into four petroleum prospecting licence (PPLs) and 26 petroleum mining lease (PMLs). In a statement by Femi Soneye, …

The Forum of Women in Film and TV in Nigeria (FWIFT Nigeria) recently announced the 2024 Women in Film and TV Conference, scheduled for September 18, 2024, at the Africa Creative Market, Landmark Events Center, Victoria Island, Lagos. This event will unite Africa’s most prominent women in film and television …

Nigeria’s top financial organisation with the largest customer base in Nigeria and footprints across the globe, Access Bank, is set to host ‘Corporate Customer Forum 2024’, on September 19, 2024 at the Eko Hotels, Victoria, Island, Lagos, under the theme “Nigeria’s Economic rebirth: Hopes and implications”. This crucial event is …

The agricultural sector led the growth in Company Income Tax in Nigeria during the second quarter of 2024, recording a 474.50 per cent increase on a quarter-on-quarter basis, according to the latest report from the National Bureau of Statistics released on Monday. On the aggregate, CIT for Q2 2024 stood …

According to the notice, it will take effect from September 9, 2024, stating that the charge is not a source of revenue for the online payment platform but is part of requirements from the government. OPay has announced a one-time fee of N50 on electronic transfers above N10,000 into personal …