Parallex Bank, a newly-established financial institution, has transited into a Deposit Money Bank (DMB) barely three days after its launch. Addressing stakeholders at the bank's corporate head office in the Victoria Island area of Lagos, Parallex Bank's Chief, Adeola Philips disclosed that the financial institution has secured the Central Bank...
The supreme court has announced the reversal of its earlier verdict which struck out an appeal by Guaranty Trust Holding Company Plc (GTCO) formerly known as GTBank against the N2.4 billion judgment given in favour of Innoson Vehicles Manufacturing, an automobile company. The apex court said it erred and the...
The Nigerian National Petroleum Company (NNPC) would soon embark on restructuring to enable it to become more commercially viable. Disclosing this with the staff of the Nigerian state-owned company, the Group Managing Director/Chief Executive Officer of the organisation, Malam Mele Kyari said the strategic move would see the corporation letting...
President of Dangote Group, Aliko Dangote, has charged African leaders and citizens to be united in the promotion of the continent’s intrinsic greatness through improved trade relations amongst African countries. Speaking at the formal launch of the Pan-African Payment & Settlement System (PAPSS), which is a centralised payment and settlement...
The support of Nigeria's leading digitally-driven financial institution, Wema Bank, for Small and Medium Enterprises (SMEs) has been recognised in the 2021 KPMG Nigeria Banking Industry Customer Experience Survey. The report classifies Wema Bank as number three in SME Banking, this is three places higher than the bank’s 2020 classification. Wema...
Seasoned economist Bismark Rewane has predicted that this year (2022), financial technology companies (fintech) would experience a fresh wave of growth and opportunities compared to the preceding years. The Chief Executive Officer (CEO) of Financial Derivatives, a research company that provides insight for investment purposes, made this prediction, as a...
Prudential Africa has signed a sponsorship agreement with the Confederation of African Football (CAF) to become the official insurance partner of the ongoing 33rd edition of the Africa Cup of Nations (AFCON) 2021. At a press conference to announce the sponsorship, Eric Mboma, Chief Representative Officer, Prudential Northern Africa Region...
As part of an effort to aid trades among African countries and strengthen the continent's economy, an all-encompassing and highly anticipated payment system anticipated, the Pan-African Payments and Settlement System (PAPSS) has been officially launched. The payment technology was launched in Accra, Ghana, on Thursday, January 13, in a virtual...
The Nigerian government says it lifted the ban placed on the operation of microblogging site Twitter, because the company has made some concessions, and talks between both parties have been fruitful. A senior government official disclosed that the government decided to lift the suspension because Twitter has agreed to terms...
The Centre for the Promotion of Private Enterprise (CPPE), an economic advocacy group, has identified Dangote Petroleum Refinery as one of the key expected drivers of growth that would impact positively on the downstream sector of the Nigerian economy in 2022. Likewise, Financial Derivatives Company Limited, a financial institution, in...