A member of staff at First Bank Nigeria Plc, one of Nigeria’s founding banks, is wanted for allegedly transferring $29 million (N829 billion) into personal accounts, one of which is his wife’s. Tijani Muiz Adeyinka was one of the employees escaping from the bank’s Iganmu branch. The bank is struggling to meet the recapitalization requirements…
The Nigerian National Petroleum Company Limited has refuted media reports alleging that it inflated the fuel subsidy payments by N3.3 trillion. A report claimed that a forensic audit conducted by a global accounting firm, KPMG, had uncovered a significant discrepancy in the fuel subsidy claims made by the national oil company. According to a report…
Ecobank Transnational Incorporated (“ETI”), the parent company of the Ecobank Group, today held its 36th Annual General Meeting in Lomé, Togo, which was followed by an Extraordinary General Meeting. Shareholders applauded the group’s strong performance in 2023, with its net revenues exceeding the US$2 billion mark for the first time in nearly 10 years.They also…
Ibom Air, Nigeria’s leading airline, proudly celebrates its 5th anniversary today, marking a significant milestone on its journey to provide reliable, exceptional air travel services in Africa. Since its inception, Ibom Air has been committed to offering world-class schedule reliability, on-time departures and excellent service, earning the confidence and loyalty of passengers across the region….
The Managing Director of NDIC, Bello Hassan, disclosed this in a briefing on the liquidation of the bank in Abuja on Wednesday. The NDIC commenced the liquidation of Heritage Bank following the revocation of its banking license by the Central Bank of Nigeria (CBN) on Monday. Hassan said the total bank deposits at Heritage Bank…
Fidelity Bank Plc, also known as “Fidelity Bank” or the “Bank,” has completed all required preparations to raise up to ₦127,100,000,000.00 (one hundred twenty-seven billion, one hundred million naira) through a public offer and a rights issue to current shareholders (the “Combined Offer”). The Central Bank of Nigeria (“CBN”) on March 28, 2024, updated the…
As part of efforts to enhance employer-employee relations and business success, Future Eagle Consultants is excited to announce the upcoming Business Expo & Employee Engagement event. This pivotal event is scheduled for June 15th, 2024, at the esteemed BeniGold Hotel in Parkview, Ikoyi, Lagos. In a statement, Mrs. Bukola Adebusoye, Chief Executive Officer of Future…
First Bank has received the full repayment of a “N456 billion loan” extended to Heritage Bank, a report by Nairametrics has confirmed. This recovery is part of a “bailout loan” arranged during the tenure of former Central Bank of Nigeria (CBN) Governor Godwin Emefiele. Quoting to top sources from First Bank, the report said the…
Stanbic IBTC Holdings has been recognised as the fastest-growing brand in Nigeria by Brand Finance, a London-based brand valuation consultancy. The annual report, which covered March 2023 to March 2024, highlighted Stanbic IBTC’s brand value growth using market and income valuation approaches. In a statement on Monday, the Chief Executive of Stanbic IBTC, Dr Demola…
