The Alternative Bank has reaffirmed its commitment to fostering sustainable economic growth in Africa through its catalytic capital approach. In a statement released on Monday, the bank highlighted its innovative financial model, which was prominently showcased at the Africa Social Impact Summit 2024, co-hosted by the Sterling One Foundation and the United Nations. The catalytic…
By Ayomide Otitoju Airtel Nigeria’s subsidiary, SmartCash Payment Service Bank, has announced a new partnership with Touch and Pay, the provider of automated payment solutions and owner of Cowry Card. This collaboration allows SmartCash customers to top up their Cowry cards using the SmartCash mobile app, promoting convenient and cashless transportation payments. In a statement…
A coalition of Civil Society Organisations has announced their intention to closely monitor the compliance of the Nigerian National Petroleum Limited in its crude oil sales to the Dangote Refinery. This move, according to the CSOs aims to ensure transparency and adherence to regulatory standards in the dealings between the state oil company and the…
The Federal High Court in Lagos has declared the sale of Nigerian Air Ltd to Ethiopian Airlines null and void. In his judgment, Justice Ambrose Lewis-Allagoa ordered that the proposed establishment of a national carrier, Nigeria Air, by the Federal Government, should not proceed. The judge granted the reliefs sought by the plaintiffs, the Registered…
The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has been blamed for the fall of the Naira. This was part of the 2024 Nigerian Banking Sector Report by the Afrinvest Group, which was obtained on Friday. The report said Cardoso’s delay in providing market direction guidance to Foreign Exchange dealers and investors was…
The prices of some perishable food items have plummeted by about 50 percent amid the ongoing nationwide hunger protest, according to reports from the News Agency of Nigeria (NAN). The protest, marked by the hashtag #EndBadGovernanceinNigeria, is scheduled to continue until August 10, aiming to draw the Federal Government’s attention to the severe economic hardships…
Customers have expressed satisfaction with the new holographic seal tape recently introduced by Big Bull Rice on its 25kg and 50kg packs. This measure, aimed at combating counterfeiting, has been widely approved by major distributors, wholesalers, retailers, and consumers. In a statement, the company highlighted that the holographic seal tape allows customers to easily verify…
The House of Representatives Special Joint Committee investigating impediments in the petroleum sector has directed the Nigerian National Petroleum Company Limited (NNPCL) to cease any plans to mortgage Nigeria’s future crude oil until its ongoing investigation is concluded. The committee, led by Ikenga Ugochinyere, the representative for Ideato South/Ideato North Federal Constituency, Imo State, initiated…
FCMB Group has unveiled plans to raise N110 billion by issuing 15,197,289,219 ordinary shares of N0.50 each at N7.30 per share. This announcement was made by the Chief Executive Officer of First City Monument Bank, Ladi Balogun, during the “Facts Behind the Offer” presentation at the Nigerian Exchange Limited on Tuesday. Balogun explained that the…
