Category: Business

A Lagos State High Court in Ikeja has frozen assets and funds to the tune of N19,178,253050 billion allegedly kept in 24 banks by a convicted former Managing Director of the defunct Bank PHB, Francis Atuche. The banks include Access Bank Plc, Citi Bank Ltd, Ecobank Nigeria Ltd, Fidelity Bank Nigeria Plc, First Bank Of Nigeria Plc, First City Monument Bank and Globus Bank Ltd. They also include Guaranty Trust Bank Plc, Heritage Bank Ltd, Keystone Bank Ltd, Lotus Bank Ltd, Mainstreet Bank Plc, Polaris Bank Plc, Platinum Mortgage Bank…

Business conditions in Nigeria’s private sector improved modestly midway through the third quarter, but the rate of growth slowed to a six-month low. Softer upticks in output, new orders and employment contrasted with quicker expansions in held inventories as firms seek to take advantage of faster lead times, and protect against any future supply shocks. However, a loss of momentum in demand resulted in a dip in optimism. Sentiment was the third-weakest in the series history.  Meanwhile, purchase prices continued to rise sharply, although the rate of inflation softened from…

Right now, atmosphere at the British American Tobacco company in Ibadan is very tensed. This is due to a scary numbers of staff that have tested positive to covid-19 in recent days. News of the People reliably gathered. In the last two weeks, this magazine gathered that over twenty members of staff tested positive to corona virus and advised to follow necessary health protocol. A particular department was said to have recorded a shocking output where fifteen people tested positive out of seventeen that were tested. This development according to…

Road Transport owners across Nigeria have expressed optimism that the 650,000 barrels-per-day Dangote Petroleum Refinery would deepen the downstream sector and positively impact their businesses. The transporters, under the aegis of Nigerian Association of Road Transport Owners (NARTO) after a guided tour of the refinery Plant in Ibeju-Lekki area of Lagos, said they had no doubt that the project would generally accelerate the development of Nigeria’s oil and gas sector; just as they also expressed the willingness to play a good role in the distribution of refined products from Dangote refinery when…

First Bank of Nigeria Limited, Nigeria’s premier and leading financial services provider has again reinforced its commitment to Youth Empowerment and Entrepreneurship through its sponsorship of the docuseries ‘’First Class Material’’ from the stables of Linda Ikeji TV  Arguably Nigeria’s most valuable bank brand, FirstBank continues to pride itself as indeed the Bank of many firsts. First Class Material is a docuseries designed to celebrate Nigerians who are excelling in various fields of endeavour whether academic or non-academic. It is a programme that aims to chronicle the success stories of…

As the world is evolving digitally, Nigerian banks are currently looking for ways to make the banking experience better and FirstBank is not an exception to this aggressive drive. The efforts in this regard include building and constantly improving on its product offerings like the FirstMobile, its industry-leading mobile banking app; FirstOnline, the internet banking portal and many other platforms provided by the Bank to ensure banking operations are performed with ease and convenience without having to be physically present at the bank. In line with its commitment to offer…

It has been reported that Sterling Bank Plc is currently enmeshed in a N1.7 billion fraud scandal the has allegedly landed the bank’s staff and a businessman in court. The case is currently before an Ikeja High Court, Lagos and detailed how an official of the bank, Ifeanyichukwu Shallom Isituah and a businessman, Ighodaro Austin Osaretin allegedly stole the sum of N1,790,558,000. 00 belonging to a customer of the bank. In the charge sheet seen by our correspondent, an operative of the Economic and Financial Crimes Commission (EFCC), Adamu Mohammed, told…

The Bank has been at the forefront of promoting financial inclusion in the country, impacting Nigerians, regardless of their locations nationwide.  The Bank currently has over 120,000 Firstmonie Agents spread across 772 Local Government Areas in Nigeria The Agent Credit scheme was launched a year ago to empower its Firstmonie Agents to grow their businesses, whilst being at an advantage to contribute to national development. Barely a year after the launch of its Agent Credit scheme, First Bank of Nigeria Limited, Nigeria’s leading financial inclusion services provider, has announced that…

This is not the best of time for Fidelity bank as four of its staffers have been nabbed over a mega fraud against the bank. Four employees of the bank alongside eleven accomplices, are currently facing criminal trial before a Lagos Federal High Court for allegedly defrauding the bank to the tune of N200 million. In the suit number FHC/10/10089c/19  the four Fidelity Bank staff identified as: Olusegun Babasola, Abisola Ahmed, Uchechukwu Uma and Jude Alphaeus, were charged alongside eleven others: Adeowale Jeff Johnson, Ogubiukwu Peace Chinenye, Olanrewaju Joseph, Alabi…