Expert contests Stanbic IBTC Bank’s report on Private Sector Rebound in April
Whereas a new study commissioned by the Stanbic IBTC Bank of Nigeria says that the private sector rebounded after March cash crunch, Dr Mike Adeola has disagreed with the report, saying “The Stanbic IBTC Report on recovery of the private…
Nigerians still divided on CBN’s denial of not phasing out new notes
Whereas many Nigerians have disagreed with the apex bank and still maintain that the bank is withdrawing all the redesigned new notes from circulation as banks no longer issue them, in a recent statement, the same apex bank claimed that…
Transcorp: How Friends intervention saved Elumelu from Otedola’s incursion
© Chukwudi Iwuchukwu At last, Femi Otedola has sold his Transcorp shares to Tony Elumelu after mutual friends intervened. The battle for the ownership of Nigeria’s biggest conglomerate between two of Nigeria’s finest business tycoons, Tony Elumelu and Femi Otedola,…
Wigwe grosses shares in Access Holdings to N29.34bn
Group Managing Director and Chief Executive Officer of Access Holdings, Herbert Wigwe, has increased his stake in the financial institution to 8.13 percent. This followed last week Thursday’s acquisition of 1.13 billion shares valued at N11.35 billion in the lender….
How ethnicity killed Udenwa’s $600m Oguta Blue Seaport scheme—IMAN
Disturbing revelation has emerged on why the strategic $600m Oguta Lake Blue Seaport scheme planned by the former Achike Udenwa administration in Imo State did not see the light of the day. National President of the Importers Association of Nigerian…
CBN’s naira redesign policy worsened the informal sector—UN Report
Fresh revelations have emerged from the recent currency abracadabra carelessly stage-managed by the Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele in the name of currency redesign policy which did not only fail, but pushed the ailing economy further…
Strong growth across funded, non-funded income lines raised AccessCorp’s EPS
Access Holdings Plc (ACCESSCORP) released its Q1-23 unaudited financials after trading hours on last Thursday, April 20, 2023, revealing a double-digit EPS growth (+26.4% y/y to NGN2.06 I Q1-22: NGN1.63). The rise in the Holdco’s earnings was supported by the…
Just in: NGX, ETI plan synergy on sustainability, market growth
The Nigerian Exchange Limited (NGX) and Ecobank Transnational Incorporated (ETI) have expressed mutual interest in partnering on sustainability initiatives and overall market development. This was stated at the Closing Gong Ceremony introducing the new Group Chief Executive Officer (GCEO) of…
FDI was at its lowest during Buhari’s 8 years administration
Esosa Aihie Data on foreign direct investment (FDI) for Nigeria, shows a bleak and downward spiral. The bleakness of this FDI data needs to be addressed to turn Nigeria’s economic and investment fortune around. Aihie averred that “If we fail…
CBN silent as banks’ customers suffer more failed transactions
One major revelation of the recent failed Central Bank of Nigeria’s (CBN) Naira redesign policy has been the unprecedented volume of failed transactions complaints from customers due to network hiccups. Investigations showed that majority of the banks were never ready…
