BUSINESS

First Bank shareholders move to remove Femi Otedola over alleged fraud

Daily Dispatch January 10, 2025

Some shareholders of First Bank of Nigeria Holdings PLC., on Wednesday, called for the removal of chairman, Femi Otedola. The group of shareholders, who own 10 per cent shares in the company, called for an Extra-Ordinary General Meeting to be held within 21 days, as provided by Section 215 (1)

BUSINESS

CBN ends export proceeds extension, tightens FX regulations

Daily Dispatch January 9, 2025

The Central Bank of Nigeria (CBN) has announced an immediate suspension of extensions for repatriating export proceeds, a bold move to tighten foreign exchange regulations. In a directive issued on January 8, 2025, and signed by W.J. Kanya, acting director of trade and exchange, the CBN reaffirmed strict deadlines: 180 days for non-oil exports and […]

BUSINESS

Tinubu calls for increase in currency swap between China and Nigeria

Daily Dispatch January 9, 2025

President Bola Tinubu, Thursday in Abuja, urged the Government of the People’s Republic of China to increase the $2 billion currency swap between Nigeria and China to enhance trade between the two countries. He also called for an upward review of the $50 billion aid package for Africa, which China’s President Xi Jinping announced last […]

BUSINESS

Fidelity Bank supports improved maternal health in Lagos

Daily Dispatch January 9, 2025

Leading Financial Institution, Fidelity Bank Plc, has donated maternity kits to 30 pregnant women at Mushin Primary Health Centre (PHC), Lagos. The donation, organized by the Great Minds Inductees Class, was made possible through the Fidelity Helping Hands Program (FHHP), a Corporate Social Responsibility (CSR) initiative by Fidelity Bank Plc aimed at promoting staff

BUSINESS

UBA emerges top 5 in KPMG Banking customer experience survey for banks

Daily Dispatch January 7, 2025

Africa’s Global Bank, United Bank for Africa (UBA) Plc, has cemented its position as a leading customer-centric institution, emerging among the Top 5 banks, in various survey’s segmentation, in the recently released KPMG 2024 West Africa Banking Industry Customer Experience Survey. The survey showed that the bank earned an impressive second place in SME Banking […]

BUSINESS

BUA Group speaks on progress of Akwa Ibom Refinery, denies 90 per cent completion claim

Daily Dispatch January 6, 2025

The BUA group on Sunday clarified that although its 200,000 barrels per day crude oil refinery located in Akwa Ibom, South-south Nigeria, was progressing and would be delivered on schedule, it had not yet achieved 90 per cent completion stage as erroneously reported in some quarters. The Abdul Samad Rabiu-led business conglomerate, in a statement […]