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UBA’s former Deputy MD, Apollos Ikpobe resigns

United Bank for Africa Plc has announced the resignation of Mr. Apollos Ikpobe, a former Deputy Managing Director of the Bank effective 11 June 2015. The resignation of Mr. Ikpobe was duly accepted by the Board of Directors of the Bank at its meeting of 15 June 2015. Mr. Apollos lkpobe has been Deputy Managing Director of Domestic Bank at ... Read More »

Nespresso Launches first boutique in Dakar, Senegal

Nespresso, one of the world’s top coffee equipment and accessory brands, has launched its first innovative coffee-drinking boutique in Dakar, Senegal. Coffee aficionados and lovers of unique sensory experiences will now be able to immerse themselves in the Nespresso universe in a magnificent space, 60 square metres in size, sporting the brand’s colours and the latest architectural concepts developed by ... Read More »

Fuel crises: MTN warns of possible shut down

With many Nigerians and corporate bodies groaning over the biting effects of the current fuel crises, telecommunication giants, MTN has come out to warn customers that its services across  the country is being affected and it may even shut down! In a release delivered on its official twitter page titled “Diesel scarcity jeopardizes MTN Operations”, the company’s management stated that ... Read More »

Ikeja Power Problems Not Our Fault-Ikeja Electric

THE Ikeja Electricity Distribution Company (Ikeja Electric) has explained the reason behind the power outage being experienced in Ikeja for over one week. Head, Communication and Strategy, Ikeja Electric, Olanipekun Adeyanju, confirmed that there was gross shortfall in supply and Ikeja Electric gets 330MW from the grid. He said: “We have transmission limitation coupled with the substantial decline in supply ... Read More »

FG hails private partnership in housing finance, delivery

The Federal Government has once again hailed the private sector initiative in mortgage finance in the country, which has resulted into delivery of housing units across the country just like the  Federal Mortgage Bank of Nigeria (FMBN)/ Sky Diamond Estate in Kaduna recently inaugurated  by Vice President, Namadi Sambo. At the event, Sambo said the administration was pleased to note ... Read More »

IBTC Bank secures $90m credit for SMEs

Stanbic IBTC Bank has concluded a $90 million line of credit facility from the FMO (NederlandseFinancierings-MaatschappijvoorOntwikkelingslanden N.V). The purpose of the facility is for Stanbic IBTC Bank to on-lend to small and medium sized companies for the financing of projects in the infrastructure sector, which include agriculture, oil and gas, power, ports, telecom companies, etc. within Nigeria. The facility will ... Read More »

Sterling Bank posts N9.9b profit, holds AGM

Sterling Bank on the heels of an improved performance has concluded all plans to hold its annual general meeting in Lagos where its shareholders will approve the banks’ 2014 audited financial report and accounts. Key extracts of the audited report and accounts for the period under review released last week by the Nigerian Stock Exchange (NSE), showed appreciable growth in ... Read More »

Buhari effect on Brand Nigeria, how far can it work?

BY Olamide Bakare The presidential election has come and gone and the winner had since emerged. To some, the concluded election was seen as a contest involving two strong contenders where one of the aspirants had to run on the record of performance and the other hedged his bet on the attribute of integrity and probity. However, if there is anything ... Read More »

Dangote Set For Profit Boom As Cameroun Bans Cement Import

The management of the leading Pan African Cement Manufacturer, the Dangote Cement Plc has assured the government of Cameroon that it would help shore up local production of the vital product following the ban on importation of cement into Cameroon. The assurance came in the wake of the formal launching of the Company’s high grade 42.5 cement type into the ... Read More »

CBN Moves To Stamp Out Fraud

The Central Bank of Nigeria (CBN) has enjoined banks to report any unethical practices that borders on dishonesty and lack of integrity among others, in the action/behaviour of CBN staff that visit their organisation in the course of performing their duty. This directive is contained in a circular to all banks and discount houses signed by Director of Banking Supervision, ... Read More »