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By Gbenga Abulude UBA Foundation, a corporate social responsibility arm of the United Bank for Africa (UBA) Plc, has unveiled the 2020 edition of its annual National Essay Competition in Nigeria with a call for entries. The National Essay Competition (NEC) in its 10th year, is part of the foundation’s initiative aimed at promoting reading…
September 1, 2020
Dr. Akinwumi Adesina has been re-elected as the President of the African Development Bank (AfDB). Adesina, who ran unopposed was re-elected by the Board of Governors of the Bank, Thursday, at the AfDB's virtual annual meeting in Abidjan, Cote d'ivoire's capital. Apart from being the sole candidate in the election, Adesina is the first Nigerian…
August 27, 2020
To tackle the challenge of perennial power outage in the country, Sterling Alternative Finance (SAF), the non-interest banking division of Sterling Bank Plc, has offered clean and affordable energy solutions to sustain the homefront and strengthen businesses across Nigeria. The energy solution known as 'Altpower' was designed to provide accessible alternative power through a combination…
August 24, 2020
By Gbenga Abulude African Development Bank (AFDB) group on Thursday announced it has sanctioned four Nigerian firms over fraudulent and collusive practices. The bank made its decision to debar them for 24 months in a statement. The firms include Sangtech International Services Limited, Sangar & Associates (Nigeria) Limited, Mashad Integrated and Investment Co. Limited and…
August 21, 2020
By Gbenga Abulude Prudential Zenith Life Insurance has donated the sum of One Hundred Thousand United States Dollars (US$100,000) to Slum2School Africa to help combat the impact of the COVID-19 pandemic on education in disadvantaged communities in Nigeria. The donation was made through a Corporate Social Responsibility (CSR) Fund from the Prudence Foundation, the community…
August 19, 2020
The 'punitive policies' by the Central Bank of Nigeria (CBN), especially the Cash Reserve Ratio (CRR) debits on Nigerian banks will have a negative impact on their earnings, top International Rating Firm, Fitch Ratings has predicted. This is even as the CRR debits on Nigerian banks have exceeded the N2 trillion mark in 2020 alone.…
August 14, 2020
The Foreign exchange scarcity in Nigeria took a turn for the worse on Friday as the exchange rate between the naira and dollar at the parallel market was offered for as high as N485/$1 on Friday at the parallel market. Some traders sell for N475/$1 while others sell for as high as N490/$1. The exchange…
July 31, 2020
Announces Six New Country CEOs In Africa, International And Senior Group Roles In a bid to further consolidate its position as one of Africa’s leading financial service provider, United Bank for Africa Plc (UBA) has announced the appointments of Rokia Hacko, Chioma Mang, Chinedu Obeta, Bode Aregbesola, Kingsley Ulinfun, and Usman Isiaka as Chief Executive…
July 28, 2020
A recent report has indicated that Nigerian banks wrote off a minimum of N1.9tr worth of bad loans in four years dating back from the 2015/2016 recession until now. This is contained in the 2020 Banking Industry Report published by Agusto & Co, a leading Credit Rating Agency in Nigeria. The report posited that Nigeria’s…
July 27, 2020
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By Gbenga Abulude UBA Foundation, a corporate social responsibility arm of the United Bank for Africa (UBA) Plc, has unveiled the 2020 edition of its annual National Essay Competition in Nigeria with a call for entries. The National Essay Competition (NEC) in its 10th year, is part of the foundation’s initiative aimed at promoting reading…
September 1, 2020
Dr. Akinwumi Adesina has been re-elected as the President of the African Development Bank (AfDB). Adesina, who ran unopposed was re-elected by the Board of Governors of the Bank, Thursday, at the AfDB's virtual annual meeting in Abidjan, Cote d'ivoire's capital. Apart from being the sole candidate in the election, Adesina is the first Nigerian…
August 27, 2020
To tackle the challenge of perennial power outage in the country, Sterling Alternative Finance (SAF), the non-interest banking division of Sterling Bank Plc, has offered clean and affordable energy solutions to sustain the homefront and strengthen businesses across Nigeria. The energy solution known as 'Altpower' was designed to provide accessible alternative power through a combination…
August 24, 2020
By Gbenga Abulude African Development Bank (AFDB) group on Thursday announced it has sanctioned four Nigerian firms over fraudulent and collusive practices. The bank made its decision to debar them for 24 months in a statement. The firms include Sangtech International Services Limited, Sangar & Associates (Nigeria) Limited, Mashad Integrated and Investment Co. Limited and…
August 21, 2020
By Gbenga Abulude Prudential Zenith Life Insurance has donated the sum of One Hundred Thousand United States Dollars (US$100,000) to Slum2School Africa to help combat the impact of the COVID-19 pandemic on education in disadvantaged communities in Nigeria. The donation was made through a Corporate Social Responsibility (CSR) Fund from the Prudence Foundation, the community…
August 19, 2020
The 'punitive policies' by the Central Bank of Nigeria (CBN), especially the Cash Reserve Ratio (CRR) debits on Nigerian banks will have a negative impact on their earnings, top International Rating Firm, Fitch Ratings has predicted. This is even as the CRR debits on Nigerian banks have exceeded the N2 trillion mark in 2020 alone.…
August 14, 2020
The Foreign exchange scarcity in Nigeria took a turn for the worse on Friday as the exchange rate between the naira and dollar at the parallel market was offered for as high as N485/$1 on Friday at the parallel market. Some traders sell for N475/$1 while others sell for as high as N490/$1. The exchange…
July 31, 2020
Announces Six New Country CEOs In Africa, International And Senior Group Roles In a bid to further consolidate its position as one of Africa’s leading financial service provider, United Bank for Africa Plc (UBA) has announced the appointments of Rokia Hacko, Chioma Mang, Chinedu Obeta, Bode Aregbesola, Kingsley Ulinfun, and Usman Isiaka as Chief Executive…
July 28, 2020
A recent report has indicated that Nigerian banks wrote off a minimum of N1.9tr worth of bad loans in four years dating back from the 2015/2016 recession until now. This is contained in the 2020 Banking Industry Report published by Agusto & Co, a leading Credit Rating Agency in Nigeria. The report posited that Nigeria’s…
July 27, 2020
