A 43-year-old man Sunday Ozimede, who allegedly hacked Moniepoint Microfinance Bank Vault and stole the sum of N1,190, 728, 076 bn, from the bank, was on Monday arraigned by the police before the Federal High Court in Lagos State. The defendant is facing three counts bordering on conspiracy, hacking and obtaining by false pretence preferred against him by the Police …
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In the gilded halls of excellence where dreams are crafted into legacies, stands a beacon that blazes across the African financial skyline. This is the story of FirstBank, the timeless oak of Nigeria’s banking heritage. In 2024, First Bank of Nigeria Limited stands not just as a financial institution but as an emblem of innovation, resilience, and purpose. Garnering 47 …
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The Nigerian Communications Commission (NCC) has approved the request of telecommunications companies to raise tariffs. According to Reuben Mouka, spokesman of the commission, the approval was granted in pursuant to its power under Section 108 of the Nigerian Communications Act, 2003 (NCA), to regulate and approve tariff rates and charges by telecommunications operators. He said telcos made the request as …
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Seventeen days into 2025, it has ushered in a bit of hope as the prices of some food items have nosedived in Kaduna State. Checks by the News Agency of Nigeria (NAN) showed that the prices of grains and other staple food items were steadily coming down in markets across the state, against the skyrocketed prices in 2024. Further checks …
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Wema Bank, Nigeria’s foremost innovative bank and pioneer of Africa’s first fully digital bank, ALAT, is set to reward 131 customers across Nigeria with N11,000,000 in cash prizes, in its first 5 for 5 Promo Season 4 monthly draw of the year happening in Warri, Delta State, on January 24, 2025. Launched in 2021, the 5 for 5 Promo is …
Continue ReadingThe equity market rebounded on Thursday from its previous session’s loss, gaining N53 billion. Investor interest in key stocks such as Dangote Cement, FBN Holdings, Guaranty Trust Holding Company, GTCO, and Fidelity Bank, alongside other advancing equities, contributed to the market’s positive performance. The market capitalisation increased by N53 billion, or 0.09 per cent rising from N62.257 trillion at the …
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In a strategic move to sustain its impressive performance, leading financial institution Fidelity Bank Plc has announced significant changes to its Board of Directors, effective January 14, 2025. According to a regulatory filing on the corporate disclosure portal of NGX Regulation Limited, the Bank has received the Central Bank of Nigeria’s (CBN) approval to appoint Alhaji Abdullahi Sarki Mohammed as …
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The Organisation of the Petroleum Exporting Countries (OPEC) says the production of petroleum products by the Dangote Petroleum Refinery has reduced the importation of refined products from Europe. In its Monthly Oil Market Report published on January 15, 2025, the global body said with the refining efforts of the Lagos-based refinery, gasoline volumes produced in the international markets would have …
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Our attention has been drawn to recent media reports regarding a commercial transaction between First Bank of Nigeria Limited (FirstBank) and General Hydrocarbons Limited (GHL) that is currently a subject of litigation. As a responsible and law-abiding corporate citizen of Nigeria with utmost respect for the courts, FirstBank will not be able to offer comments on issues which are pending …
Continue ReadingThe Nigerian Exchange Ltd. (NGX) All-Share Index and Market Capitalisation appreciated by 1.80 per cent each, to close the week at 105,451.06 and N64.303 trillion respectively. These are against 103,586.33 and 63.166 trillion posted last week. Consequently, equity investors gained a total of N1.137 trillion for the week under review. Similarly, all other indices finished higher with the exception of …
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