By Ayomide Otitoju Union Bank has introduced an industry-first initiative in Nigeria’s financial sector, offering comprehensive maternity leave and a new on-site crèche facility to support working parents. The new policy, which is available to both male and female full-time employees, underscores the bank’s commitment to gender equality and employee well-being. The initiative includes five…
By Ayomide Otitoju First Bank of Nigeria has revealed plans to transition to a new cloud-based procurement and financial platform, as part of its efforts to enhance operational efficiency and improve service delivery. The migration, set to begin on Saturday, October 26, is expected to cause temporary disruptions to some services, the tier-one lender announced…
By Ayomide Otitoju Ethiopian Airlines has announced plans to soon introduce a new Airbus A350-1000 to its Lagos fleet. The airline’s Sales Manager, Mrs. Adetola Alabi, revealed this at the 20th Akwaaba African Travel Market, held recently in Lagos. During her presentation titled “Ethiopian Airlines: Past, Present, and Future Innovations for Continued Leadership in Aviation,”…
By Ayomide Otitoju The Nigerian National Petroleum Company Limited (NNPC) has acquired equipment to establish an additional 40 Compressed Natural Gas (CNG) stations nationwide, as part of efforts to expand access to alternative fuel. The Federal Government also plans to have 100 CNG stations operational within the next six months. Oluwagbemi Michael, the Programme Director…
By Ayomide Otitoju Dangote Petroleum Refinery and Petrochemicals has initiated legal action against the Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and several oil marketers, demanding N100 billion in damages. The suit, filed at the Federal High Court in Abuja (FHC/ABJ/CS/1324/2024), challenges the continued issuance of import licences for refined petroleum products, including Automotive…
The federal government has officially approved Seplat Energy’s acquisition of Exxon Mobil’s onshore assets, valued at $1.28 billion. The announcement was made by Gbenga Komolafe, Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), during the commission’s 3rd Anniversary event in Abuja on Monday. Komolafe confirmed that ministerial approval for the transaction has…
By Ayomide Otitoju TAJBank Limited, one of Nigeria’s rapidly growing non-interest banks, has achieved a historic milestone by paying dividends to its shareholders at the end of the half-year period ending June 2024. This marks the second dividend payout within the bank’s four years of operation, setting a new record in Nigeria’s banking sector. The…
Abbey Mortgage Bank has expanded its investment awareness campaign to Abuja, aiming to educate residents on the benefits of sound financial planning and investment. The initiative, announced in a statement on Monday, focuses on promoting the financial and real estate opportunities available through the bank. As part of the campaign, Abbey Mortgage Bank held a…
By Ayomide Otitoju United Bank for Africa Plc (UBA) reported a significant rise in gross earnings, reaching N2.39 trillion for the third quarter of 2024, an 83.2% increase from N1.31 trillion recorded during the same period in 2023. This was revealed in the bank’s unaudited financial results filed with the Nigerian Exchange Limited for the…
