Pan-African investment company, Heirs Holdings (HH), has announced the appointment of Dan Okeke as Group Executive Director. In a statement, the company said the appointment took effect from August 1, 2020. According to the statement, “Mr. Okeke joins HH following a distinguished three-decade career at the United Bank for Africa Plc (UBA), where he most recently served as an Executive Director, responsible for leading consumer, commercial and public-sector businesses. “At HH, he will be responsible for business coordination and growth across Heirs Holdings’ portfolio of pan-African investments in the…
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Analysts: Lockdown ease to boost VAT inflow in H2’20
Citing the relaxation of COVID-19 restrictions, analysts at Cowry Asset Management Limited have said that the Federal Government will likely rake in more revenue from Value Added Tax (VAT) in the second half of this year compared with the amount it generated in H1’20. The analysts made the prediction in the latest edition of the firm’s “Cowry Weekly Financial Markets Review and Outlook” report. According to data released by the National Bureau of Statistics (NBS) last week, total VAT collected in H1’20 rose by 8.45 per cent to N651.77 billion, from…
Read MoreFraud: Access Bank advises customers to be vigilant
Access Bank has admonished its customers to remain vigilant and beware of the common tricks used by fraudsters to rob them of their monies. Executive Director of Retail Banking, Access Bank Plc, Victor Etuokwu, expressed concern about the growing number of fraud cases being reported. He implored customers to take more responsibility in safeguarding their funds and offered reassurance of the bank’s commitment to providing information relevant to identifying and fending off fraudsters. He said: “Over the last few months, the number of reported fraud cases has spiked considerably.…
Read MoreEcobank Nigeria unveils package for female entrepreneurs
Ecobank Nigeria has unveiled a special loan package for female entrepreneurs in the country, the lender announced in a statement at the weekend. The loan package, “The Ecobank Female Entrepreneurs’ Initiative (EFEI),” is specially designed by the bank to financially empower female business owners and entrepreneurs in the country. Head, Consumer Asset Product, Ecobank Group, Daberechi Effiong, said the EFEI loan was targeted at boosting small scale businesses owned by women, adding that it was a further demonstration of the importance the bank attaches to the role of women in…
Read MoreStanbic IBTC partners institute on technology start-ups
Stanbic IBTC Bank, a member of Standard Bank Group, has continued with its partnership with the Founder Institute Lagos to support entrepreneurs using technology to solve some of the continent’s most pressing challenges. Founder Institute recently held the first online graduation ceremony, tagged, “Velocity Mini” to celebrate the Cohort II graduates who have passed through a 14-week hard core, Navy-seal type curriculum programme. According to the statement, the Velocity Mini is the digital version of the Velocity Conference held at the end of every Cohort, to honour founders that…
Read MoreCoronavirus, oil threatens debt sustainability, says FBNQuest
The crisis occasioned by the coronavirus (Covid-19) pandemic, as well as the slump in oil prices, does not augur well for the chances of Nigeria’s external debt becoming sustainable, FBNQuest Capital Research has said. The firm stated this in a note obtained by Newsfieldglobal yesterday. According to latest data released by the Debt Management Office (DMO), Nigeria’s total public debt rose to $79.5 billion (N28.63 trillion) as of the first quarter of 2020. 34.89 per cent-$27.66 billion (N9.9 trillion)- of this amount is the total external debt, while $51.64 billion (N18.64 trillion) is the…
Read MoreUBA rewards 100 customers with N100,000
Pan African financial institution, United Bank for Africa (UBA) Plc has again given its loyal customers reason to cheer as it rewarded 100 loyal customers with N100,000 each in the UBA Bumper account draw. The draw, which took place at the UBA head office on Tuesday, was held via Facebook platform in strict compliance with social distancing rules as directed by the federal and Lagos State Government where 100 more customers emerged winners through a transparent draw. When contacted, the customers, who emerged winners of the draw,…
Read MoreWema Bank’s ALAT celebrates anniversary
Wema Bank Plc digital bank, ALAT by Wema, is celebrating three years of delivering financial services. The bank in a statement made available to newsmen said ALAT had strategically positioned itself as a fast, reliable and convenient banking solution and will continue to align itself with evolving user habits and preferences, especially when users are quickly adjusting to a world where speed, efficiency and multiplicity will be the new normal. “Known for reinventing the narrative in the delivery of financial services and experiential banking in Africa,…
Read MoreAccess Bank not sacking 75% employees
Access Bank Plc yesterday denied reports that it planned to sack 75 per cent of its workforce and as well close more than 300 branches. The bank, in a statement signed by Mr Sunday Ekwochi, its Company Secretary, and obtained from the Nigerian Stock Exchange (NSE) website, described the news as malicious and a distraction from the genuine and compassionate plan to protect its staff and help keep jobs in the unfolding macroeconomic environment. It said the closure of a bank branch was an action that…
Read MoreLockdown: FirstBank commends customers’ support
FirstBank Nigeria Ltd has expressed its appreciation to the public – especially its customers – for their continued patronage of its services during the coronavirus ( COVID -19) lockdown. This is even as the lender has assured the public that stringent measures have been implemented to ensure its branches and locations across the country operate in line with the health and safety guidelines issued by the Nigeria Centre for Disease Control (NCDC to mitigate the spread of Coronavirus. Expressing the bank’s delight at welcoming customers to…
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