• Bayo Adetu
• October 28, 2021
• BUSINESS
• 0 Comments

The board of FBN Holdings Plc (FBNHoldings) has appointed the immediate past managing director of Fidelity Bank Plc, Mr. Nnamdi Okonkwo as its group managing director following the retirement of Mr. U.K. Eke, who has completed his two-term tenure.. Okonkwo’s appointment takes effect from January 1, 2022. Uke, according to the board, tendered his Notice of Retirement on August 10, …

• Bayo Adetu
• October 28, 2021
• BUSINESS
• 0 Comments

By Simon Okeke  The World Bank released a report titled “The Changing Wealth of Nations 2021” on Wednesday, which noted that the current Nigerian oil reserves would only last about 49 years unless new oil wells are discovered. “Oil-producing countries like Nigeria and Ecuador could entirely deplete their oil reserves in fewer than 50 years at current depletion rates, assuming …

• Bayo Adetu
• October 27, 2021
• BUSINESS
• 0 Comments

By Josephine Agbonkhese Lack of consistency in field of study, poor proofs of tie to home country, random cash deposits to bank account, as well as weak employment status, have been given as some of the reasons many Nigerians seeking Canadian Visas are denied their applications. Reeling out these was Angela Ogundele, CEO, HisCharis Immigration Citizenship Service, while speaking at the …

• Bayo Adetu
• October 26, 2021
• BUSINESS
• 0 Comments

Members of the Lagos State House of Assembly on Tuesday intensified moves to repeal the State’s Consumer Protection Agency law and replace it with an amended version that is more people-friendly and aimed at strengthening the rights of residents. The bill, which also aims to eliminate substandard and hazardous products the state, scaled second reading with Speaker of the House, …

• Bayo Adetu
• October 24, 2021
• BUSINESS
• 0 Comments

First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services organisation has announced its partnership with Nigeria Inter-Bank Settlement System plc (NIBSS) on its recently launched Nigeria Quick Response (NQR) Payment Solution. The NQR is an innovative payment option implemented for all financial service providers and designed to promote quick and fast transactions by scanning the code on …

• Bayo Adetu
• October 21, 2021
• BUSINESS
• 0 Comments

By Nike Popoola  The Central Bank of Nigeria has said it will support youths in tertiary institutions with grants to promote entrepreneurship and reduce unemployment. The CBN disclosed this on Wednesday in a report, titled ‘Guidelines for the implementation of tertiary institutions entrepreneurship scheme’. “Five top Nigerian polytechnics and universities with the best entrepreneurial pitches/ideas shall be awarded as follows: …

• Bayo Adetu
• October 20, 2021
• BUSINESS
• 0 Comments

The World Bank Group has debarred 18 Nigerian companies and individuals for engaging in corrupt and collusive practices in its 2021 fiscal year. In a new annual report titled ‘World Bank Group Sanctions System FY21’, the bank said the individuals and companies were sanctioned different sentences according to their offences. According to the world lender, the companies and individuals were …

• Bayo Adetu
• October 19, 2021
• BUSINESS
• 0 Comments

Every other day, social media brings us a picture or video of a dilapidated school somewhere in Nigeria or shares images of a distraught widow, a struggling roadside trader or street hawker, or some other hapless victims of the extremely harsh realities of living in Nigeria. Immediately, as if on cue or automated, viewers launch into stinging attacks of government, …

• Bayo Adetu
• October 18, 2021
• BUSINESS
• 0 Comments

The Central Bank of Nigeria has said the eNaira will be available to Nigerians without Internet-enabled phones. The CBN disclosed this in a document obtained by our correspondent, with the title ‘Design paper for the eNaira’. It said maximising the value and use cases of the eNaira would depend largely on devices with Internet capabilities. “The eNaira thus risks further …

• Bayo Adetu
• October 17, 2021
• BUSINESS
• 0 Comments

The Nigerian National Petroleum Corporation (NNPC) in the last seven months spent over N816billion in subsidising the cost of Petroleum Motor Spirit (PMS) for Nigerians, a report has shown. Despite this, within the period, the country lost another N182billion to product losses, which is about 22.3percent of the total cost spent on subsidy. According to the industry’s report obtained from …