The battle for the control of the country’s premier and leading financial institution, FBN Holdings Plc persists as strong indications emerged yesterday that another majority shareholder is mopping up the shares of the leading bank. At the close of trading yesterday, the market capitalisation of the bank rose from N656 billion with a share price of N18.35 kobo as at Monday, July 3, 2023 to N800 billion at yesterday’s market closure. The stock rose to N22.30 kobo in one week or by 18 per cent. Transactions in the shares of FBN Holdings also led market activity with 198.221 million shares…
Author: Elvis Eromosele
LOTUS Bank, a non-interest financial institution in Nigeria, has announced and celebrated its second anniversary. Over the past two years, LOTUS Bank has been involved in the transformation of the financial landscape in Nigeria, offering innovative solutions and customer-centric services. Since inception, the bank has prioritised providing a banking experience that goes beyond traditional norms, focusing on ethical practices and financial inclusion for all. “Our journey over the past two years has been incredible, and we owe our accomplishments to our customers, who have placed their trust in us,” said the Managing Director of LOTUS Bank, Mrs. Kafilat Araoye. In…
The Edo State Government in conjunction with the Bill and Melinda Gates Foundation have trained 500 youths in the state to build their skills for the future workplace. The one-day programme tagged, ‘Digi Link’ which took place at the University of Benin, was organised in partnership with ACIOE Associates and Public Digital to help the state government improve its digital capabilities. Ms Osayueamem Aladeselu, the Focal Person, Edo State Social Investment Programme, told journalists at the one-day Workshop that the programme would prepare the youths for the future world of work, fostering entrepreneurial skills and inspiring enthusiasm about their future…
The European Union Election Observation Mission (EU-EOM) final report on the 2023 general elections in Nigeria is out. The report identified six priority areas requiring immediate attention to clean up Nigeria’s elections. These included removing ambiguities in the electoral (which allowed the Independent National Electoral Commission, INEC, to change course and compromise the presidential election); making the appointment of INEC top officials more accountable to the public, ensuring real-time publication of election results and making them accessible to the public, providing greater protection for media practitioners on election coverage and showing more commitment to punishment of electoral offenders. It is…
Foreign investors overlooked 28 states as the value of capital importation into Nigeria grew by 6.78 per cent in the first quarter of 2023, according to the National Bureau of Statistics (NBS). The total capital imported stood at $1.13 billion, up from the $1.06 billion recorded in Q4 2022. According to the NBS report, the 28 states that failed to attract foreign investment in Q1 2023 include: Abia Bauchi Bayelsa Benue Borno Cross River Delta Ebonyi Edo Enugu Gombe Imo Jigawa Kaduna Kano Katsina Kebbi Kogi Kwara Nasarawa Osun Oyo Plateau Rivers Sokoto Taraba Yobe Zamfara In the quarter under…
A report by FITC has revealed that bank customers in Nigeria lost N472m to fraud in the first quarter of 2023. The report available on the organisation’s website also disclosed that there was a total of 12,553 cases of fraud recorded within this period. The data, however, showed a decline in losses compared to what was lost to fraudulent banking activities in Q4, 2022. According to FITC, a total of N3.18bn was lost to fraudsters across banking platforms in Q4 2022, which meant that the losses declined by 85.13 per cent in Q1 2023. The FITC data also revealed that…
Elvis Eromosele Introduction The power of the media is undeniable when it comes to shaping public perception, influencing attitudes, and driving societal change. As a key source of information and storytelling, the media holds immense influence and responsibility in today’s interconnected world. The Nestle Webinar on ‘Climate Change Implications for Food and Nutrition Outcomes: The Role of the Media’ in collaboration with the Lagos Business School Sustainability Centre (LBSSC) shed light on the significance of media in raising awareness about climate change and its impact on food systems. The webinar emphasized the urgent need for media professionals to engage with…
The German government, through its Federal Ministry for Economic Cooperation and Development (BMZ), has approved 10 million Euros to expand infrastructure in Nigeria and other parts of Africa. The African Development Bank (AfDB) and KfW announced the replenishment of the New Partnership for Africa’s Development (NEPAD) – Infrastructure Project Preparation Facility (NEPAD-IPPF) Special Fund, designed to boost infrastructure. The agreement was signed in Berlin by the Head of Financial Cooperation in Sub-Saharan Africa on behalf of KfW, Helmut Gauges, and AfDB Vice-President and Chief Financial Officer, Hassatou N’Sele. Germany’s support will bolster NEPAD-IPPF’s efforts towards priority areas such as green,…
By David Wariboko “Fuel subsidy is gone,” Tinubu declared in his inaugural speech at the Eagle Square on Monday, May 29, 2023, after being sworn in as Nigeria’s 16th President. However, this declaration did not sit well with many Nigerians who were hoping for a focus on key economic issues to improve the overall well-being of the economy and its citizens. The removal of the fuel subsidy became a topic of concern among policymakers, economists, and media houses across the country. Various policymakers hold divergent views on this issue, with some experts believing that it is the right time for…
Growing up, my two major causes of death were brief illness and sudden death. Looking back in hindsight, it was clear that in both cases, they will probably pre mitigating circumstances that led to the death of these people but we now have better diagnoses, one thing about healthcare is that early detection prevents catastrophic events. Now we know that certain indicators tell us when our body is functioning at its best and when it’s in danger. Thankfully, in the 21st Century, we have the internet with loads of information, but the information is limited without knowledge of what it…