By Ayomide Otitoju Minority investors in Nigeria have expressed strong support for United Bank for Africa Plc’s (UBA) ongoing rights issue, which aims to raise N239.4 billion. The offering, which opened on November 15, 2024, involves 6.84 billion ordinary shares of 50 kobo each, priced at N35 per share. The issue, pre-allotted on the basis…
By Ayomide Otitoju Zenith Bank Plc has clinched the prestigious ‘Bank of the Year, Nigeria’ title at the 2024 Banker’s Bank of the Year Awards, organized by The Banker Magazine, a publication of the Financial Times Group, UK. The award ceremony, held in London on December 4, 2024, honored the bank’s robust management, sound business…
By Ayomide Otitoju The Office of the Auditor-General of the Federation (OAuGF) has received all necessary documentation to verify the Nigerian National Petroleum Company Limited’s (NNPCL) N2.7 trillion fuel subsidy claim against the Federal Government, The Trust Africa News reports. This marks a significant step in the forensic audit initiated in April 2024 by the…
By Ayomide Otitoju Swiss cement giant Holcim has announced plans to divest its Nigerian operations by selling its nearly 84% stake in Lafarge Africa to China’s Huaxin Cement. The company disclosed this move in a statement released on Sunday, highlighting it as part of a broader strategy to streamline its portfolio and prioritize growth in…
By Ayomide Otitoju The Nigerian National Petroleum Corporation Limited (NNPCL) has progressed its 2024 recruitment drive by shortlisting candidates for the Computer-Based Test (CBT) phase. This stage targets applicants vying for Graduate Trainee and Experienced positions within the corporation. Shortlisted candidates are receiving notifications via email, providing details for the test scheduled to take place…
A Federal High Court, presided over by Justice Ayounle Faji, has ordered Access Bank Plc to pay N10 million in damages for the unlawful freezing of a customer’s account. The ruling follows a suit filed by Adenike Akinlade, whose account was blocked without a valid court order. Justice Faji condemned the bank’s action of placing…
By Ayomide Otitoju The manager of the Old Port Harcourt Refinery has confirmed that the facility is fully operational, addressing recent debates surrounding the resuscitation of the 60,000-barrel-per-day plant. Last week, the Nigerian National Petroleum Company Limited (NNPCL) reported that the refinery is operating at 90% capacity, countering earlier claims by the Petroleum Products Retail…
By Ayomide Otitoju Wema Bank, renowned for its innovation and as the pioneer of Africa’s first fully digital bank, ALAT, has once again proven its excellence, emerging as the Overall Winner of the Nigeria Bankers Game (NBG) 2024 Grand Finale. This marks the bank’s third consecutive victory at the prestigious annual sporting event. The bank…
By Ayomide Otitoju Adron Homes has announced the cancellation of the highly anticipated Adron Games 2024, citing heightened security concerns as the primary reason for the decision. In a statement issued by the company, the decision to cancel the event was described as being in the best interest of participants, stakeholders, and the broader community….
