Business

A witness in the trial of Godwin Emefiele, former governor of the Central Bank of Nigeria (CBN), Folashodun Shonubi  told a federal capital territory (FCT) high court that the naira redesign policy did not follow standard procedure. Shonubi, who was acting governor of the CBN from June 9 to September 15 2023, said Emefiele admitted to intrigues and politics around…

The director-general (DG), Manufacturers Association of Nigeria (MAN), Segun Ajayi-Kadir has expressed that businesses cannot survive borrowing at 35 per cent interest rate, given the hike in interest rate by the   Central Bank of Nigeria (CBN). Ajayi-Kadir who was speaking during a forum themed ‘Nigeria’s Challenging Economy: Strategies For Recovery,’ organised by Channels Television to commemorate Nigeria’s 64th Independence anniversary,…

Unity Bank Plc has hosted a capacity-building workshop to support the Association of Nigerian Women in Business Network (ANWBN) in a move aimed at empowering women entrepreneurs with the necessary skills required to thrive in today’s digital economy. The initiative for the workshop stems from the growing advancement in technology and its impact on business hence the theme: “Empowering Women…

Customers of Zenith Bank are groaning over their inability to access their accounts or carry out any transactions almost 24 hours after the bank announced a routine IT maintenance. Contrary to the promise by the bank that online transactions would resume after 2.30 pm on Tuesday, October 1, 2024, as of 8.00 am on Wednesday, October 2, customers of the…

The U.S. Securities and Exchange Commission (SEC) has charged Nigerian auditor Olayinka Oyebola and his accounting firm, Olayinka Oyebola & Co., for their alleged involvement in a major securities fraud scheme orchestrated by businessman Dozy Mmobuosi, and three U.S.-based companies collectively referred to as the Tingo entities. This comes on the heels of a $250 million judgment that the SEC…

A high-level delegation from Nigerian Exchange Group Plc (NGX Group), led by the Group Chairman, Alhaji (Dr.) Umaru Kwairanga, alongside top officials from the Securities and Exchange Commission (SEC), headed by the Director General, Dr. Emomotimi Agama, recently visited the Johannesburg Stock Exchange (JSE) for a strategic engagement. The visit, which aimed to expose the Nigerian delegation to JSE’s governance…

NOVA Bank has reaffirmed its commitment to the well-being and interests of high-net-worth individuals by sponsoring the 27th Nigeria Cup Golf Tournament. Hosted at the prestigious Ikoyi Golf Club 1938, the annual tournament for 2024 took place from, September 21st, to Saturday, September 28th, 2024. The Nigeria Cup Golf Tournament, organized by the Ikoyi Golf Community Nigeria Association (IGCNA), showcased…

After a two-year suspension, Emirates Airlines resumed operations in Nigeria, landing at the Murtala Muhammed International Airport (MMIA) in Lagos on Tuesday. Flight EK 783, a Boeing 777-300ER, touched down at 3:32 PM, marking the airline’s first landing in the country since halting services in 2021 due to unresolved issues, including approximately $85 million in trapped funds. The flight’s return…

…Relaunches W Initiative in Zambia, Botswana Access Bank Plc has reinforced its dedication to advancing women’s empowerment across Southern Africa with the relaunch of its ‘W’ Initiative in Zambia and Botswana. The ‘W’ Initiative, which provides a wide array of financial services and support programs specifically designed for women, is a key component of Access Bank’s broader strategy to drive…

Total Assets up by 37.2% to N28.3 trn Customer Deposits hits N23.2 trillion, climbs 34%, makes profit before tax of N401.6bn  United Bank for Africa (UBA) Plc has released its audited financial results for the half year ended June 30, 2024, showing impressive performance across some key financial indicators. The audited financials released to the Nigerian Exchange Limited (NGX) on…