Shareholders of Unity Bank Plc have overwhelmingly approved a proposed merger with Providus Bank Limited, a deal regulators say will reinforce stability in Nigeria’s financial sector. At a court-sanctioned Extraordinary General Meeting held on 26 September, 293 Unity Bank shareholders, representing 99.32 per cent of total shareholding worth ₦4.4 billion, voted in favour of the…
Chinese authorities have launched an investigation into Lin Jingzhen, former vice president of the state-owned Bank of China, over alleged “serious breaches of Party discipline and national law.” The Communist Party’s Central Commission for Discipline Inspection and the National Commission of Supervision confirmed the probe in a statement on Tuesday, without elaborating on the accusations….
Consumers in Nigeria are voicing frustration over growing bank charges, alleging unauthorised debits that have left many questioning the fairness of the country’s financial system. Customers interviewed by the News Agency of Nigeria (NAN) said the deductions ranged from alert fees to inflated transfer levies and account maintenance charges. Helen Agodo, a First HoldCo Plc…
Nigeria’s decision to halt the export of raw shea nuts for six months will strengthen local processors and cut production costs, the head of the Nigerian Export-Import Bank (NEXIM) has said. Managing Director Abba Bello told youth members of the ruling All Progressives Congress (APC) in Abuja on Tuesday that the measure would help Nigeria…
First Bank HoldCo Plc says it has spent more than N15 billion to protect its systems against criminals between January and June. Olusegun Alebiosu, the Chief Executive Officer (CEO), First Bank HoldCo Plc, said this in an interview with the News Agency of Nigeria (NAN) in Abuja on Wednesday. Alebiosu, who spoke to NAN on…
Former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, has been granted bail by an Abuja High Court in connection with a fresh criminal case involving a disputed housing estate and billions of naira allegedly hidden in proxy accounts. Justice Yusuf Halilu, presiding over the case at the FCT High Court, granted bail to Emefiele…
Some bank customers, especially those of Guaranty Trust Holding Company (GTCO) say they will opt for electronic mail alert from their banks to cut costs and reduce charges on their accounts. Some of them who spoke to the News Agency of Nigeria (NAN) in Abuja on Sunday, said they would deactivate the Short Message Services…
Fidelity Bank Plc says it generated N105.8 billion as its profit before tax (PTB) for the first quarter of 2025. This represents a growth of 167.8 per cent compared to N39.5 billion in same period of 2024. The bank disclosed this in its unaudited financial statements released on the Nigerian Exchange. The company’s gross earnings…
The World Bank has hailed the Jigawa Government for transparency and effective coordination in the implementation of the Agro-Climatic Resilience in Semi-Arid Landscapes (AcReSAL) project. Dr Joy Agene, the AcReSAL Task Team Lead gave the commendation when she led a delegation on a courtesy visit to Gov. Umar Namadi in Dutse. Agene, praised Namadi’s administration…
An Economic and Financial Crimes Commission (EFCC) witness, Femi Remigus, on Monday refused to confirm the legality of bank entries in the trial of Ali Bello, the Chief of Staff to Gov. Usman Ododo of Kogi. Remigus, a compliance officer at Zenith Bank Plc, denied knowing if associated bank transfers in the disputed transactions were…
