Otedola sets ambitious investment goals for First HoldCo, eyes ₦320bn boost, lauds Tinubu’s reforms
Femi Otedola, chairman of First HoldCo Plc, announced that his investment in the financial institution is set to reach N320 billion in cash by the upcoming capital raising round. He…
NDIC begins payment of ₦46.6bn liquidation dividends to Heritage Bank depositors
The Nigeria Deposit Insurance Corporation (NDIC) has started paying N46.6 billion in liquidation dividends to depositors of the defunct Heritage Bank. The funds were realized from the sale of the…
America’s largest bank JP Morgan to begin full banking operations in Nigeria
JP Morgan, America's largest bank, plans to upgrade its Lagos representative office to a full-fledged business branch, marking a significant expansion of its presence in Nigeria and Africa. The bank…
Sterling Bank revolutionizes digital banking with zero transfer fees
In a pioneering move, Sterling Bank has abolished transfer fees on all local online transactions, setting a new standard for customer-centric banking in Nigeria. This bold decision, effective immediately, underscores…
Coming Up: National Credit Guarantee Company: Boosting access to credit for all Nigerians
The federal government is set to establish the National Credit Guarantee Company (NCGC) by the second quarter of 2025, aiming to increase access to credit for individuals and critical sectors…
NCC approves USSD disconnection of Zenith, UBA, six others by telcos over debt
The federal government through the Nigerian Communications Commission (NCC) has granted approval to Mobile Network Operators comprising MTN, Airtel, Globacom and 9mobile to disconnect the Unstructured Supplementary Service Data (USSD)…
CBN fines nine banks ₦1.3bn for cash scarcity at ATMs
The Central Bank of Nigeria (CBN) has sanctioned some Deposit Money Banks (DMBs) for failing to make naira notes available through Automated Teller Machines (ATMs) during the yuletide season. They…
Tinubu meets Otedola in Abu Dhabi amid $230m legal dispute with Arise News owner
President Bola Tinubu arrived in Abu Dhabi on Sunday and promptly met with Femi Otedola, the chairman of FBN Holdings Plc. Upon his arrival in the United Arab Emirates, Tinubu…
Court backs First Bank against Arise New/ThisDay owner over $225m debt
A Federal High Court in Lagos has restrained First Bank and other commercial banks from dealing with General Hydrocarbons Limited and the Publisher of ThisDay Newspaper, Nduka Obaigbena, over a…
Despite error on validity of old naira notes, CBN’s policy indecisiveness embarrassing – Rep Ogene insists
Rep Afam Victor Ogene, Leader of the Labour Party Caucus in the House of Representatives, has said that despite the unintended factual error in the motion asking the Central Bank…