The National Universities Commission (NUC) says no fewer than 24,000 Nigerians will benefit from a new $65 million funding phase of the World Bank-supported Sustainable Procurement, Environmental and Social Standards Enhancement (SPESSE) project. The Executive Secretary of the NUC, Prof. Abdullahi Ribadu, disclosed this on Wednesday in Abuja during the signing of performance contracts for…
Shareholders have commended the retired Chairman of Zenith Bank Plc, Jim Ovia, for his contributions to the growth of the bank and the transformation of the banking industry. The News Agency of Nigeria (NAN) reports that Ovia retired on May 5 after serving the mandatory 12 years as chairman in line with regulations of the…
Bank customers have continued to complain over the jmany transaction charges by banks, saying it is discouraging them from depositing money in their bank accounts. Some of them who spoke to the News Agency of Nigeria (NAN) in Abuja on Sunday, described the situation as alarming and discouraging. They appealed to the Central Bank of…
The Federal High Court in Abuja has fixed October 16 for ruling on whether the Managing Director of SunTrust Bank, Halima Buba, can cross-examine an EFCC witness on issues raised during his evidence-in-chief. Justice Emeka Nwite adjourned the trial on Monday following an objection raised by Rotimi Oyedepo, SAN, counsel to the Economic and Financial…
Nigeria’s fight against corruption in its oil sector has taken another turn after a court froze the bank account of Mars Aviation Limited over allegations it received illicit payments from the state-owned oil company. The Federal High Court in Abuja granted the order on 22 September, directing Fidelity Bank Plc to freeze the firm’s account…
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…
