Heritage Bank, Zamfara, PAC update Buhari on AEIB cooperation
The management of Heritage Bank, Zamfara State Government and the Pan African Capital, at the just concluded Russian-African Summit in Sochi, Russia, held a meeting to brief President Muhammadu Buhari on the African Export Import Bank cooperation. During the meeting,…
(Special Report) Investment impacts on Deep Offshore, Inland Basin PSC Bill 2019
BACKGROUND Let us bring to mind for the essence of this analysis that the Senate, on Tuesday October 15, 2019, passed the Deep Offshore and Inland Basin Production Sharing Contracts (Amendment) Bill, 2019 (“PSC Amendment Bill”). This is sequel to…
Access Bank buys Kenyan bank, raises customers’ confidence on D’Extra Account
Just as more winners have continued to emerge in the ongoing Diamond Extra Account promotion nationwide, the Competition Authority of Kenya (CAK) has given Access Bank the approval to acquire 93.57% of Transnational Bank Ltd., one of the leading financial…
Chinese bank’s $629m changing the face of Lekki Seaport scheme—Sanwo-Olu
Reference to the vote of $629 million made by China Development Bank (CDB) on the Lekki Seaport project, the Lagos State Government has averred that the milestone will change the narrative of infrastructural financing in Nigeria and the state in…
Partial, full closure of land borders won’t end smuggling in Nigeria— Experts
Former President of the Nigerian Association for Energy Economics (NAEE), Mrs Wunmi Iledare has joined the league of experts insisting that the partial border closure would not bring an end to smuggling of petroleum products out of the country and…
Zenith Bank’s unaudited 9M-19 results show 4.5% y/y jump in profitability
Recently released Zenith Bank Plc’s unaudited 9M-19 results, which analysts at Codros Capital and others say are in line with expectations, see gross earnings grew by 3.5% y/y with supports by non-funded income as interest income growth has remained weak…
How Heritage Bank is driving entrepreneurial targets of Nigerian youths
Heritage Bank Plc has given fresh insights on why it has continued to support The Next Titan entrepreneurial reality TV show, saying the drive is to ensure that the entrepreneurial targets of the Nigerian youths are attained. Business Hilights recalls…
FBNH unaudited 9M-19 results see capital adequacy levels below statutory limit
FBNH recently released unaudited 9M-19 numbers, which was decent and generally in line with expectations. Gross earnings declined moderately by 0.4% y/y, while profitability increased by 15.3% y/y given the decline in credit impairment charges. Nonetheless, the Holdco’s result showed…
How Ghana may lead ECOWAS gang up against Nigeria over border closure
Strong signals are emerging from Ghana and other sister ECOWAS economies in possible gang up against Nigerian products that dominate the regional market if the border closure continues without end. The signals further indicate that none of the West African…
CBN lists permissible, non-permissible activities of fintechs, agent bankers’
As the economy continue to grow in activities and polices driving financial and digital inclusions using fintechs operators, Agent banking platforms and Mobile Money outfits, the Central Bank of Nigeria (CBN) has opened up on permissible and non-permissible activities. CBN,…