Author: admin
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Agro-Industrial Zone 50000 Jobs In Nigeria
Agro-Industrial Zone 50000 Jobs The Special Agro-Industrial Processing Zones (SAPZ) project will create about 50,000 direct and indirect jobs, with women accounting for 40% of the beneficiaries within the five-year duration of the project. This was disclosed by the Minister of State, Federal Capital Territory (FCT), Dr. Mariya Mahmoud, on Wednesday at the commencement of…
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20 PFAs meet N5 billion minimum regulatory capital – PenCom
PenCom says the exercise resulted in some mergers and acquisitions. National Pension Commission (PenCom) has announced that up to 20 Pension Fund Administrators (PFAs) were able to meet the April 27 deadline for a Minimum Regulatory Capital (shareholders’ fund) from N1 billion to N5 billion. This was disclosed by the commission in a statement on Friday,…
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Airtel Smartcash now a full Payment Service Bank (PSB)
CBN grants Airtel final Approval Licence for Smartcash, a full Payment Service Bank (PSB) The Central Bank of Nigeria (CBN) has granted final approval for Airtel subsidiary, SMARTCASH Payment Service Bank limited (‘Smartcash’) to operate a Payment Service Bank (‘PSB’) in Nigeria. This was disclosed in a press release posted on the website of the Nigerian Exchange…
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First Bank: Best Bank in Nigeria 2022
The Bank wins the Best Bank in Nigeria 2022 award and the Best Bank in Digital Transformation Nigeria 2022 at the International Awards Investor 2022 Nigeria’s premier banking institution and leading financial services inclusion services provider, First Bank of Nigeria Limited has won the Best Bank in Nigeria 2022 as well as the Best Banking…
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Twitter inflates user numbers by almost 1.9 million for 3 years
Twitter recorded $1.2 billion in revenues in the first quarter of 2022. Twitter, a social media company, has admitted to overstating the figure of the platform’s users by 1.9 million in the last three years. The company disclosed this in its Q1 2022 financial report released yesterday Thursday April 28, 2022. The revelation comes days…
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SEC raises concerns over huge unclaimed dividends in Nigeria
Says unclaimed dividends were being transferred into a trust fund The Securities and Exchange Commission (SEC) has voiced concern about the market’s high proportion of unclaimed dividends. This was disclosed by Mr. Lamido Yuguda, the Director-General of the SEC during the Post Capital Market Committee (CMC) webinar press briefing on Thursday. Unclaimed dividends, according to…
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Shareholders of Zenith Bank gets N97 billion dividends
The Shareholders of Zenith Bank to share N97.33 billion dividend as approved at the 31st AGM of the bank Shareholders of Zenith Bank Plc, at the 31st Annual General Meeting (AGM) of the bank held on Wednesday, April 6, 2022, at the Civic Centre, Victoria Island, Lagos, unanimously approved the proposed final dividend, expressing delight…
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Naira appreciates against USD at the P2P FX market
The Naira appreciates against USD as exchange rate at the I&E window closed at N416.67/$1 on Thursday. The Naira appreciates against USD as the exchange rate closed at N416.67/$1 at the Investors and Exporters (I&E) window on Thursday 7th April 2022, where forex is traded officially. However, at the peer-to-peer market, the exchange rate appreciated…
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Fidelity Bank PBT grows by 35.7% to N38.1bn for FY 2021
Fidelity Bank proposes dividend of 35 kobo Per Share Leading financial institution, Fidelity Bank Plc has recorded 35.7% growth in Profit Before Tax for its 2021 financial year to close the year at N38.1bn according to the bank’s recently issued financial result. Analysis of the results indicates that the bank grew Gross Earnings by 21.6%…
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Forex turnover down to a 5-day low, exchange rate depreciates across markets
The exchange rate at the I&E window closed at N417 to a dollar on Tuesday, 29th March 2022, representing a 0.12% depreciation compared to N416.5/$1 recorded in the previous trading session. FX turnover also fell by 51.5% to $97.9 million on Tuesday. Also, Naira recorded a 0.172% depreciation against the US dollar on Wednesday, trading…