Tuesday , November 13 2018
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Business & Finance

Access Bank may soon acquire Diamond Bank

  Access Bank Plc may soon acquire Diamond Bank. This is coming barely a couple of months after the regulatory agencies staved off the collapse of Skye Bank and renamed it Polaris Bank. Reports have it that the fusion is set for the first quarter of next year. Both financial institutions, according to the paper, have agreed on broad terms ... Read More »

Retirees get N679.68bn pensions in 11 years – PenCom

A total of N679bn has been paid as accrued pension rights to retirees from 2007 to September this year, the National Pension Commission has stated. In its update on the status of accrued right payment, PenCom said the money for the 2018 budget was released on September 27, 2018, which was used to make payments in October 2018. The payments, ... Read More »

Dangote initiates World Puff-puff Day, targets Guinness record

The President, Dangote Group, Aliko Dangote, has initiated a new project aimed at celebrating hardworking homemakers. The project, tagged the World Puff-puff Day, is to be celebrated on October 27 every year, according to Dangote Flour Mills. Two tonnes (40 bags of 50-kilogramme) flour were used at the maiden edition of the event, which held on Saturday, with 30,000 pieces of puff-puff produced. The ... Read More »

UBA shows resilience as gross earnings hit N375bn, with group profit of N79bn

  United Bank for Africa Plc, the pan African financial institution with presence in 20 African countries has announced its unaudited 2018 Third Quarter Financial Results, with impressive growth in Gross Earnings, which berthed at N374.8 billion, an 12.3 percent increase when compared to N333.9 billion recorded in the corresponding period of 2017.   According to the report filed to ... Read More »

Arunma Oteh canvasses support for Green Sukuk Financing Scheme

Green Sukuk financing scheme is promising for green projects, the Vice President and Treasurer of the World Bank, Arunma Oteh has said. Speaking at the International Monetary Fund-World Bank Annual Meetings in Indonesia, Oteh said the world is now focusing on projects that are based on sustainability. Oteh added: “If governments have full commitment to protect the environment, many international ... Read More »

Tax collection: Nigeria seeks IMF’s support

The Federal Government is seeking assistance from the International Monetary Fund (IMF) on modalities for improving tax collection, especially  from the International Oil Companies (IOCs), Finance Minister  Zainab Ahmed, has said. She told reporters  on the sidelines of the ongoing 2018 International Monetary Fund (IMF)/World Bank Group Meetings, in Bali, Indonesia, that government has to be in a position to develop tools  that ... Read More »

Mobile money: Telcos to reach 90m people by 2020

  Five Nigerian network operators have pledged to deploy over one million airtime agents for mobile money services in the country. The Global System for Mobile communication operators said they would leverage their mobile base, integrated identity systems and distribution network to offer financial services to Nigerians. During the inauguration of a financial inclusion committee made up of representatives of ... Read More »

Airline operators urged to invest in newer aircraft

Aviation experts have asked airline operators to invest more in new aircraft in order to reduce their operational costs. They noted that one of the problems of the country’s aviation industry was the use of the wrong type of aircraft for domestic operations. A former Managing Director of the defunct Virgin Nigeria, Capt Dapo Olumide, said airlines fail in the ... Read More »

CBN to try offenders in mobile court over Naira abuse

Bankers in the country have expressed their readiness to enforce the law against the abuse of naira notes by setting up mobile courts to punish violators of the currency. They said this during a press briefing after the Bankers’ Committee meeting in Lagos on Thursday. The bankers said they also resolved at the meeting that the discretionary bank reserves built ... Read More »