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Business

December, 2021

  • 31 December

    Cash Shortage Hits Banks, Lobby For Naira Notes begin

    The Nigerian banking system is facing a severe cash shortage, according to a senior official at First City Monument Bank in Abuja. The senior bank official who does not want to be mentioned said officials at the Central Bank of Nigeria are also concerned with the impact of the shortages on businesses. He said, “A deputy manager at the Central ...

  • 28 December

    Probing Questions raised about Titan Trust Bank’s acquisition of Union Bank

    A concerned former Union bank staff writes: FGN injected N300bn to stabilize/recapitalize Union Bank. Federal Ministry of Finance and CBN can confirm this position. A further N239bn was deployed into the Bank by AMCON to buy off toxic assets in the Bank’s books How then did FGN end up with 21% of the Bank while Union Global Partners (foreign investment ...

  • 24 December

    Covid-19: Nigeria records highest single daily infection

    Nigeria has recorded 4,035 new cases of the Covid-19 infections, its highest single daily tally since the outbreak of the virus in February 2020, according to the daily report of the Nigeria Centre for Disease Control (NCDC). Wednesday’s record of 4,035 infections from 15 states showed a 1,912 increase over the 2,123 infections recorded on Tuesday. According to the NCDC ...

  • 24 December

    Union Bank sold off excites CEO, Okonkwo

    Chief Executive Officer, Union Bank, Mr. Emeka Okonkwo noted: “This transaction marks a significant milestone in the journey of our 104-year old Bank. Whilst thanking our current investors for their unwavering commitment to the Bank over the years, we welcome our new core investor, TTB. We recognize the strategic fit between the two institutions and expect that this deal will ...

  • 23 December

    What about Titan Trust Bank ?

    Titan trust bank takes over one of Nigerians oldest bank, Union bank. Titan Trust Bank is one of the newest national commercial banks in Nigeria. The lender commenced operation in October 2019 with a strong capital base and has demonstrated precision in the execution of its strategy by showing tremendous growth, even in difficult times. In just two years of ...

  • 21 December

    Kwankwaso immediate younger brother is dead, buried

    The younger brother of former Kano State Governor, Senator Rabiu Musa Kwankwaso, Comrade Inuwa Musa, is dead. This was contained in a statement signed by the Coordinator, Kwankwasiyya Media Centre Sanusi Bature Dawakin Tofa. The statement reads “With the total submission to the will of Almighty Allah, we announce the passing away of Comrade Inuwa Musa Kwankwaso, the immediate younger ...

  • 15 December

    A peep into Mafab, winner of 5G licence that rises from ‘Nowhere’ to beat giants

    Faint signs of permutations demolition and emergence of underdog began to appear days ahead of the last week mock auction. Industry stakeholders and insightful tech communicators, like Shina Badru saw it coming.. Mafab name had been popping up. And now, it has reach the zenith. Not entirely from nowhere.. It has been in existence, operating smoothly, like surdust fire burning ...

  • 15 December

    Who is behind MAFAB, the trending Telecom coy names on lips

    Musbahu Muhammad Bashir serves as chairman on the board of his two companies — Althani Group of Companies and Cobalt International Services Limited, a pre-shipment inspection agent currently inspection agent for oil and gas exports in the country. The business magnate is also a director at Bento Drill Nigeria Limited, Offshore Technologies International Limited, and Resource Capital Group. At Jaiz ...

  • 15 December

    Tinubu, a powerful investor in MAFAB, the Telecom with 5G licence

    asiwaju bola ahmed tinubu

    Senator Bola Ahmed Tinubu, a chieftain of APC All Progressive Congress is a powerful investor in MAFAB. Tinubu, a current national leader of the ruling party is said to be pocket deep, with wide solid connections. The two winners gave till February to pay… There are indications that the company will meet up. On Monday, Mafab Communications Limited challenged MTN ...

  • 14 December

    Fears about 5G removed, the advantages

    The 5G trial was critically reviewed by stakeholders with a view to understanding its health and security implications. “The review showed that that 5G is safe for deployment in Nigeria and will not compromise our security as a country The World Health Organisation (WHO) and the International Telecommunications Union (ITU), organs of the United Nations, have confirmed that the deployment ...