Okonedo in, Oteh out on Ecobank Board
Shareholders of Ecobank Transnational Incorporated (ETI) have elected Prof. Enase Okonedo and Mr Simon Dornoo as board members of the bank. A statement issued by the Group Head Communication, Adenike Laoye, explained that the election took place at the Bank’s…
Transcorp Hotels set to raise N10b rights issue
Core investors and shareholders of Transcorp Hotels Plc have authorised the Board of Directors to raise N10 billion in new equity capital from shareholders as part of efforts to strengthen the capital base of the hotel and tourism company. At…
NPA denies running hidden $1bn account in any bank
Following the leakage of the petition against the AGF by a whistleblower over delays in paying his cut in line with the policy after giving tips that the Nigerian Ports Authority (NPA) had a secretly ran dollar account with not…
Digital financial services group, Carbon releases 2019 financial results
Nigeria’s leading digital financial services company, Carbon, has released its 2019 financial statements audited by KPMG, detailing its product growth and $17.5mm in revenue. Carbon began operations in 2012 and within the space of six years, it grew revenue steadily,…
NSE reviews, amends Pension Index at Exchange
The Nigerian Stock Exchange (NSE) Tuesday announced review of the eligibility criteria for the NSE Pension Index (“The Index”) in line with changes in the regulatory and market requirements. The amended methodology and rebalancing will be effective from today, Wednesday…
AGF’s response to latest whistleblower discouraging—Nigerians
The way and manner of response to the request put forward by a whistleblower to the Office of the Attorney-General of the Federation and Minister of Justice on his share after revealing and bursting a $1bn hidden in an account…
Access Bank responds to outrage, pledges to refund deducted stamp duty arrears
Leading financial institution with the largest branch networks, Access Bank on Sunday said it will refund its stamp duty deductions made from the account of its customers after a social media outcry on Saturday. Business Hilights recalls that stamp duty…
2020 Tax Report says Africa making headway in tackling tax evasion, others
African countries made great strides in strengthening commitments and capacity to achieve tax transparency and exchange information on illicit fund flows in 2019, the latest Tax Transparency in Africa report, launched Thursday, revealed. Tax Transparency in Africa 2020 – produced…
Nigeria economic indices still looking bleak
From a record USD6.95 billion deficit reported in Q4-19, Nigeria’s Current Account (CA) deficit shrank by 29.8% q/q to USD4.88 billion over Q1-20. When viewed as a percentage of GDP, this translates to -1.3%. The blend of a marked reduction…
Revealed: Why Access Bank floated digital lending portal, ‘Cashflow Loans’
Renewed zeal to fast-forward Small and Medium Enterprise (SMEs) in growing and expanding their businesses across the country, leading tier one financial giant, Access Bank has floated on-the-go digital lending portal, christened ‘Cashflow Loans’. Business Hilights gathered that the scheme…
