The Nigerian private sector returned to growth in December, with renewed increases in both output and new orders recorded amid some signs of recovery in demand. This was despite continued intense inflationary pressure, with purchase costs and selling prices each rising at sharper rates than in November. Meanwhile, business confidence dropped to the joint-lowest in the decade-long survey so far. …

Sterling Bank Limited has announced a strategic change in its Board of Directors, with Mr. Olatunji Mayaki assuming the role of Chairman of the Board effective 1st January 2024, following the resignation of Mr. Asue Ighodalo from 31st December 2023. According to a statement by the Company Secretary, Temitayo Adegoke, “the resignation of our erstwhile Chairman is in line with …

Union Bank Plc has announced a significant financial performance for the third quarter ending 30th September 2023. The bank reported a Profit Before Tax (PBT) of N102.3 billion, reflecting an impressive growth of 461.1 per cent compared to the PBT of N18.2 billion in the corresponding period of 2022. This notable achievement is attributed to a surge in gross earnings, …

Emir of Zazzau in Zaria, Kaduna State, Ambassador Ahmed Nuhu Bamali has extolled the benefits of The Alternative Bank (TAB) as a non-interest banking institution which propels economic growth through sustainable practices, responsible investment and financial decisions. In a keynote address during the inauguration of TAB’s first physical branch in Zaria, Kaduna State, the traditional ruler highlighted the manifold advantages …

A financial expert, Mr Okechukwu Unegbu has commended the Central Bank of Nigeria (CBN) for lifting the restrictions on cryptocurrency transactions. Unegbu, a past president of the Chattered Institute of Bankers of Nigeria (CIBN), said this in an interview with the News Agency of Nigeria (NAN) on Wednesday in Abuja. The CBN had announced the reversal of the policy banning …

Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings, has rewarded 77 customers with cash prizes in the first quarterly and third monthly draws of its Reward4Saving 3.0 promo. Both draws took place at the bank’s head office at Walter Carrington Crescent, Lagos. Seventy customers won N100,000 each, while seven other customers received N1 million each. The winners were selected …

The Office of the Special Investigator probing the Central Bank of Nigeria (CBN) has summoned the Chairman of Titan Trust Bank (TTB), Mr. Tunde Lemo, and two other shareholders of the bank to a “follow-up meeting” in Abuja on Thursday over the controversial acquisition of Union Bank of Nigeria last year. The summons were issued hours after Lemo, a former …

A former Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele has been released from the Kuje Correctional Centre after meeting up with his bail condition.. It was learnt that Emefiele was released on Friday. The spokesperson for the Kuje Correctional Centre, FCT, Adamu Duza, confirmed the development to our correspondent on Saturday. “I can confirm to you …

As part of its continued commitment to the growth and development of the Nigerian economy, Sterling Bank Limited has concluded arrangements to host a mega business fair during the yuletide. The event will showcase the best of Made by Nigerians (MBN) and Eat Drink Festival (EDF) on the 27th and 28th of December 2023 at the Tafawa Balewa Square, Lagos. …

The Inspector General of Police, Kayode Egbetokun, has counselled financial institutions and business owners over the growing sophistication of cyber threats and consequent attacks on their databases and businesses. The IGP spoke over the weekend at the Moniepoint Staff Retreat in Abuja, urging those in the financial sector and business owners to take proactive steps towards the protection of their …