Business

First City Monument Bank led by Yemisi Edun is in the bad books of customers who are frustrated over its epileptic services. “This is not the first time FCMB users would complain of service downtime but the bank has refused to upgrade and it’s really sad”, said Osas a customer of the bank. FCMB is the brainchild of Otunba Subomi ...

Elon Musk pulled the plug on his $44 billion deal to buy Twitter on Friday, accusing the company of “misleading” statements about the number of fake accounts, a regulatory filing showed. Musk terminating the deal that he inked in April to buy the social media giant sets the stage for an epic court battle over a billion-dollar breakup fee and ...

Nigerian lender, Unity Bank Plc has doled out N10 million business grant to 30 corps members who emerged the winners of the eighth edition of its flagship Entrepreneurship Development Initiative, known as Corpreneurship Challenge. The winners emerged after a business pitch that took place across 10 states – Rivers, Delta, Sokoto, Edo, Abuja, Akwa-Ibom, Osun, Kano, Bayelsa, and Enugu recently. ...

…The loan scheme covers female-owned or partnered SMEs in various sectors of the economy Launched in 2016, FirstGem has been impactful in driving financial inclusion, influencing women’s empowerment through gender-advancement programmes like savings culture, financial literacy, wealth management and building an investment portfolio. In furtherance of its role in promoting female entrepreneurship across the country, Nigeria’s premier banking institution and ...

Foreign investors are worried over continued scarcity of dollars in Nigeria even as the naira today depreciated to N615 per dollar in the parallel market today. Newsmaxng findings showed that the parallel market exchange rate rose by N10 to N615 per dollar at the close of business today from N605 per dollar on Friday. Similarly, the naira depreciated in the ...

Favour Fame-Eruagbere, a staff of Sterling Bank Plc, Effurun, Delta State Branch, is currently on the run after allegedly defrauding customers of the bank of the sum of N300 million. The female bank worker was said to have approached some account owners to grant her permission to use their money for business, while she would be giving each of them ...

A magistrate court sitting in Surulere, Lagos has ordered Polaris Bank to refund $30,769 illegally deducted from the domiciliary and Naira accounts of three of its customers. The order followed an originating application filed by Adebomi Orogun, Kehinde Banjo and Oluwatoyin Ode against the bank for unjustifiable freezing of their accounts and subsequent illegal deductions on the said accounts, a ...

First City Monument Bank has appealed the Imo State High Court Judgement awarding N10 million as damages to a businessman, Kingsley Unegbu. Justice I.G. Chukwunyere of the court on May 12, 2022, lambasted the bank for putting a wrong picture on Unegbu’s debit card. The court ruled that the plaintiff timely reported the picture mismatch on his Mastercard to the ...

Indications have emerged that Nigerian Exchange Limited p(NGX) has recently fined Union Bank Plc, 1.5 million for failure to file their financial statements after the regulatory due date.   Investigation shows that the company was sanctioned during the current financial year 2022 for their inability to meet the regulatory requirements ranging between FY’2021 and the first quarter of 2022. Union ...

Policemen on Thursday sealed all branches of Zenith Bank in Owerri, the Imo State capital, rendering staff and customers of the bank stranded. Our correspondent who monitored the development saw policemen taking possession of the entrances to all the branches of the bank while staff and customers loitered around. The stern-looking cops said that they were implementing a court judgment ...