The Lagos State High Court has declared the sale of a property used as collateral by the late Otunba Adedoyin Olayide Ogunde, a Union Bank customer, as fraudulent. Justice I.O. Harrison delivered the judgment in a case filed by the beneficiaries of Ogunde’s estate against Union Bank on May 31. Ogunde, who owned a valuable…
Skyway Aviation Handling Company PLC (SAHCO) has compensated Tolulope Adeniran, an Abuja resident, with N100,000 after her luggage was damaged during a flight from Abuja to Kwara State. The compensation came after a two-month delay, following a complaint she filed regarding the damage. Adeniran, who flew with Overland Airways on June 5, discovered that one…
The Federal Government has disbursed the outstanding 45-month minimum wage arrears owed to employees of the Nigerian Meteorological Agency (NiMet), according to a statement released on Monday by Okechukwu Nwokoro, Secretary of the NiMet Union Joint Action Committee. The arrears, which had been pending since 2019, had been a major point of contention between NiMet…
By Ayomide Otitoju Zenith Bank Plc has launched a major capital-raising initiative to generate N290 billion in fresh funds through a combination of rights issues and a public offer. This move is aimed at bolstering the bank’s expansion efforts both within Africa and internationally. The bank is offering 5.23 billion shares at N36 each to…
By Ayomide Otitoju The Nigerian National Petroleum Company Limited (NNPCL) has strategically reduced its stake in the Dangote Refinery from 20% to 7.2%, opting to divert funds toward the development of Compressed Natural Gas (CNG) infrastructure across the country. This was disclosed by NNPCL spokesperson Olufemi Soneye during an appearance on Berekete Family Radio, a…
Benin City, Nigeria – The management of AIPCC Energy Limited, operators of the Edo Refinery and Petrochemicals Company Limited, has sounded the alarm over a persistent shortage of crude oil, which has severely hampered operations at its 1,000-barrels-per-day refinery in Edo State. Despite a directive from President Bola Tinubu mandating the Nigerian National Petroleum Company…
The minority investors community has expressed strong support for the recent approval by the Central Bank of Nigeria (CBN) for the merger between Unity Bank Plc and Providus Bank. The CBN, in a statement signed by its Acting Director of Corporate Communications, Hakama Sidi, confirmed the approval on Tuesday, in accordance with Section 42 (2)…
By Ayomide Otitoju Ecobank, the pan-African banking giant, is set to host the semi-final event of its inaugural Fintech Challenge in Lagos on Wednesday, August 14. The hybrid event will be held at the Ecobank Pan African Centre (EPAC), marking a significant milestone in the bank’s commitment to fostering innovation across the continent. The 2024…
By Ayomide Otitoju Property owners affected by the demolition exercise carried out by the Nigerian National Petroleum Company Limited (NNPCL) in 2018 are demanding compensation exceeding ₦160 billion. The demolitions, which took place along the pipeline and Tanke Road in Ilorin, were conducted by Nigerian Army engineers on the orders of the national oil company…
