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Wednesday , 26 October 2016


GTBank Releases 2016 Q3 Unaudited Results.. report the best financial ratios in the industry(N140.84Billion)


Guaranty Trust Bank plc has released its unaudited financial results for the 3rd quarter ended September 30, 2016, to the Nigerian and London Stock Exchanges. A review of the 3rd quarter performance shows positive growth across all key financial metrics and improved strategic positioning of the brand. Gross earnings for the period grew by 44% to N329.3billion from N229.4billion reported in the ...

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UBA Excite cashless and digital banking with EmailMoni


MEC, Inc.  announced today it has entered into agreements with pan-African financial services group, United Bank for Africa (“UBA”) Plc to provide a revolutionary email-based billing, payment and banking software system called “EmailMoni.” EmailMoni represents the world’s latest fin-tech for cloud banking and social payments, and is expected to transform the payments, invoicing/billing and remittances landscape in Africa. The service provides a convenient and ...

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Access Bank Raises US$300m Eurobond from International Market


Leading financial institution, Access Bank Plc has successfully raised US$300 million via a Eurobond from the international bond market. The Bank recently assessed the international market to raise the bond with maturity date in October 2021, at a coupon of10.5%. This makes Access Bank the first Nigerian bank to raise bond from the international market this year despite the country’s ...

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Ex-Vanguard editor, Bayagbon launches news website


The immediate past Editor of Vanguard Newspaper, Mr Mideno Bayagbon has launched an online news website, With former Acting Editor of Guardian Newspapers, Jewell Dafinone as its group Managing Editor, the new website according to a statement on Monday by the company “hopes to stem the seeming lack of professionalism among some practitioners in the digital media space.” Bayagbon, ...

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EFCC wants a cut from recovered loot

magu EFCC

The Economic and Financial Crimes Commission, EFCC, has urged  a review of Nigerian  laws  to enable anti-graft agencies in the country  retain a percentage of  the loot recovered to fund their operations. The Acting Chairman of the commission, Mr Ibrahim Magu, made  the request at the   national anti-corruption conference organised by the Presidential Advisory Committee against Corruption (PACAC) and the ...

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Femi Otedola Loses $1.3billion, Drops out of Billionaires’ List


Nigerian businessman Femi Otedola has fallen out of the ranking of Africa’s Billionaires after his net worth plunged from $1.8 billion to $550 million as a result of a massive drop in thestock price of his petroleum marketing company, Forte Oil. According to FORBES, Forte Oil’s share price was at N145 ($o.44) per share down from an all time high of N342 ...

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Dangote Regrets Investment In Banking..Sold-Off 2 Banks

aliko dangote

President, Dangote Group, Alhaji Aliko Dangote, yesterday foreclosed a return of investments to the Nigeria’s banking sector just as he declared plans to sell power to Nigeria through excess generation of 2, 000 Mega Watt (MW) by 2019. The Africa’s richest man quit banking sector in year 2,000 through sale of two banks. On the banking sector, he declared that ...

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Dangote Cement Competitor; Lafarge, Shut Down over huge tax debts


In a renewed crackdown on companies with tax liabilities, the Federal Inland Revenue Service (FIRS) on Monday shut down some defaulting companies in Port Harcourt, Lagos and Ibadan. In Port Harcourt, Rivers state, the FIRS enforcement team, led by Ruth Madeun, shut down two companies having a combined tax debt of N1.077bn. The companies are Lafarge Cement Limited and IGPES, ...

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EFCC denies arresting Fani-Kayode’s wife or kid,..”Fayose a dramatist”


The Economic and Financial Crime Commission (EFCC) has  denied arresting or detaining Mr. Fani-Kayode’s wife or kid.even as the anti graft body traced N1.1billion to the Zenith Bank account of the former aviation minister, Femi Fani-Kayode. The commission said this in response to Mr. Fani-Kayode’s claim that it tried to arrest his wife and toddler in Ado-Ekiti, the Ekiti State ...

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Fidelity Bank, Gazelle Train 500 Unemployed Youths in Kebbi

fidelity md

In furtherance of its quest to improve the wellbeing of communities where it does business, Fidelity Bank Plc, in partnership with Gazelle Academy and Waziri Umaru Federal Polytechnic, Birnin Kebbi have empowered 500 Nigerians through entrepreneurial skills. The programme, which was part of the bank’s corporate social responsibility (CSR) initiatives, was aimed at equipping Nigerian youths with skills and capabilities ...

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