Featured Archives - Page 22 of 32

Ecobank Nigeria rids Lagos of 2m plastic bottles

July 31, 2019 admin

Ecobank Nigeria has successfully removed over two million plastic bottles in exchange for cash from the streets of Lagos. The campaign, which started in May, targets to remove at least four million bottles from the environment.it is part of the bank’s environmental sustainability campaign. Ecobank had in May told Lagos residence to exchange plastic bottles for cash at designated location across the state. Commenting on the initiative and success achieved so far, the Managing Director, Ecobank Nigeria, Patrick Akinwuntan, stated that the lender was committed to support the sustenance of the environment…

Promo: UBA rewards 20 customers with N30m

July 31, 2019 admin

Pan African financial institution, United Bank for Africa (UBA) Plc, has again rewarded another 20 customers, who emerged winners in the third quarterly draw of the UBA Wise Savers Promo. They won N1.5 million each, bringing the total amount won by 60 customers so far to N90 million. The electronic raffle draw, which was held at the bank’s head office in Lagos yesterday was witnessed by relevant regulatory bodies including the National Lottery Regulatory Commission, Lagos State Lottery Board and Consumer Protection Council. Lucky customers, who emerged winners in the…

Firms optimistic on macro-economic conditions

July 31, 2019 admin

The latest Central Bank of Nigeria’s (CBN) monthly Business Expectations Survey (BES) report has shown that majority of respondent firms expressed optimism on macro economy in July 2019. According to the BES report, which was posted on the apex bank’s website yesterday, majority of businesses in the country expect the naira to appreciate in the coming months. Furthermore, the report said: “Level of inflation is expected to increase slightly in both the next six months and the next twelve months; borrowing rate is expected to rise in the current month,…

Unity Bank reports N1.052bn in HY’19 profit

July 31, 2019 Chris Ugwu

Unity Bank Plc has recorded growth in profitability by over 96 per cent as its profit before tax stood at N1.052 billion as against N536 million in H1 2018. A review of the bank’s performance also shows significant improvements across key financial metrics such as the earning assets and gross loans. The bank recorded a quantum leap in its earning assets by 62 per cent, thus leading to higher income and grew its gross loans by 456 per cent. This increase was also boosted by an increase in investment securities…

CBN: Manufacturing PMI edges to 57.6

July 31, 2019 admin

Nigeria’s official manufacturing Purchasing Managers’ Index (PMI) reached 57.6 index points in July compared to previous month’s reading of 57.4, the Central Bank of Nigeria’s (CBN) PMI July 2019 report, released yesterday, shows. According to CBN, “a composite PMI above 50 points indicates that the manufacturing/non-manufacturing economy is generally expanding, 50 points indicates no change and below 50 points indicates that it is generally contracting.” The apex bank, thus stated in the report that: “Manufacturing PMI in the month of July stood at 57.6 index points, indicating expansion in the…

Tecno rewards winners in Pouvoir 3 promo

July 31, 2019 admin

Africa’s most preferred smartphone, Tecno, has rewarded the winners of its recently concluded Pouvoir 3 Power Extravaganza promo. The lucky winners, who emerged after a keen competition, had their prizes presented to them at the company’s Abuja office. The winners include Mr Adigan Ibrahim, who won the 1st prize– a 24/7 solar energy system; Mr Joseph, who won the 2nd prize – an inverter; Alhaji Mohammad, who won the 3rd prize – a Generator set; and Mr. Paul Malik, who also won a power generator set. …

Nigerian fintech emerges finalist at MIT Challenge

July 31, 2019 admin

Social Lender, a lending solution based on social reputation on mobile, online and social media platforms and major players in Nigerian fintech ecosystem, has been selected as a regional finalist for the Massachusetts Institute of Technology [MIT] Inclusive Innovation Challenge (IIC). The Nigerian fintech firm is the only Nigerian start-up that made the Africa regional finalist for the challenge. Other finalists are Forasna, a Cairo-based platform for blue-collar jobs; Farmline, a Ghana based agrictech startup that distributes content to farmers and 10 other technology startups companies in Africa.…

Telco partners Gravitas for fibre deployment

July 31, 2019 admin

One of Nigeria’s mobile telecommunication outfits, 9mobile, has signed an agreement with Gravitas, a property and infrastructure development company, to provide exclusive telecommunications services on Gracefield Island. The company, in a statement, said the deal demonstrated its commitment towards enabling the growth of Nigerian businesses. According to 9mobile, Gracefield Island will be a new integrated cosmopolitan smart city of 25,000 inhabitants initiated by Gravitas and built on purposely-reclaimed land within the fast-rising premium Lekki, Lagos shoreline. It added that exclusive Island would offer world-class utilities and services for…

ICT experts demand FG’s investment in Wi-Fi

July 31, 2019 admin

To bridge digital gap in the country, stakeholders in the ICT sector have called on the Federal Government to invest in infrastructure that will provide free public Wi-Fi across the country. The stakeholders, who gathered at the 2019 Nigeria ICT Impact CEO Forum (NIICF), themed: ‘Connecting the Unconnected,’ said private operators had made some investments in this regard, but their efforts would not be enough to cover all cities in the country. Specifically, the Chief Executive Officer, Bitflux Communications, Mr Lekan Balogun, said the private sector…

JPMorgan, HSBC, others face $1bn FX-rigging suit

July 29, 2019 admin

JPMorgan Chase & Co. HSBC, and UBS Group AG are among five banks being sued over allegations of foreign-exchange rigging in a class-action lawsuit seeking more than £1bn ($1.2bn or just over R17bn), Bloomberg reported yesterday. Barclays, Citigroup and Royal Bank of Scotland Group are also among the targets of the United Kingdom suit that will say pension funds, asset managers, hedge funds and corporations lost out because of market manipulation between 2007 and 2013 and should be compensated. The lawsuit centers on collusion on foreign-exchange trading strategies, for which the…