Business

Shareholders of Zenith Bank Plc unanimously approved the restructuring of the Bank to a holding company during a court-ordered Extraordinary General Meeting (EGM) held virtually from Zenith Heights, Zenith Bank Plc, Victoria Island, Lagos, on Friday, April 26, 2024. In accordance with the Scheme of Arrangement dated March 28 2024, pursuant to Section 715 of the Companies and Allied Matters Act (CAMA), 2020 ...

Lagos, 25 April 2024 – First Bank of Nigeria Limited, West Africa’s premier financial institution and leading financial inclusion services provider, announced its recognition as the Best Private Bank in Nigeria and Best Private Bank for Sustainable Investment in Africa at the Global Finance ninth annual World’s Best Private Banks Awards for 2024 held at the Harvard Club of New ...

First Bank of Nigeria has appointed Olusegun Alebiosu as its acting managing director with effect from April 2024. The Bank stated this in a release signed by its acting company secretary Adewale Arogundade. Alebiosu takes from Adesola Adeduntan, who gave up the role abruptly on Saturday even though he was due to complete his tenure in December 2024. The release ...

The National Union of Banks, Insurance and Financial Institutions Employees (NUBIFIE), has shut down Heritage Bank’s head office in Lagos following the sack of over 1000 personnel by the management of lender led by Mr. Akinola George-Taylor without following due process, THE WITNESS reports. The union said it had resolved to continue with the picketing until the management of the ...

The Alternative Bank Limited (AltBank) has announced a strategic collaboration with FoodBank and Sterling One Foundation to raise approximately N20 million in support of hunger alleviation and educational initiatives. This initiative aligns with the theme of the African Union Summit 2024, “Educate and Skill Africa for the 21st Century.” Hassan Yusuf, the Managing Director of The Alternative Bank, unveiled this ...

–Declares a final dividend of 60kobo per share Lagos, Nigeria, April 16, 2024: Leading financial institution, Fidelity Bank Plc, has released its 2023 full year Audited Financial Statements, reporting a 131.5% growth in Profit Before Tax to N 124,26 billion. According to the results, which was issued to the Nigerian Exchange (NGX) today, the bank grew Gross Earnings by 64.9% ...

In a country with short-lived corporate excellence and a handful of centenary companies, hitting 130 years is undoubtedly a significant milestone for Nigeria’s premier financial institution, FirstBank. GEOFF IYATSE writes. Experience, they say, comes with age. Nothing else aptly defines the consistent growth of First Bank of Nigeria Limited (FirstBank) and its consistent reinvention as the conscience of corporate Nigeria ...

Zenith Bank Plc has announced its audited results for the year ended December 31, 2023, achieving a remarkable triple-digit growth of 125% in gross earnings from NGN945.6 billion reported in 2022 to NGN2.132 trillion in 2023. According to the audited financial results for the 2023 financial year presented to the Nigerian Exchange (NGX), this impressive triple-digit growth in gross earnings ...

The Central Bank of Nigeria (CBN) has crashed the exchange rate for Bureau De Change (BDC) operators to N1,101 per dollar from N1,251/$1, following rising inflow of the greenback into the country. The apex bank also planned to sell $15.88 million to 1,588 eligible BDCs. At this rate, the BDCs would sell at not more than 1.5 per cent margin ...

Newsmax online reports that First Bank of Nigeria Limited has rewarded six of its customers with N1 million each at the fourth and grand finale of its ‘WinBig’ promo draw held at its head office in Lagos recently. The promo, which kicked off in October last year, was one of the biggest campaigns in the financial industry with FirstBank targeting ...