Investors lost N188 bn on the Nigerian Exchange Limited recently due to declines in the share prices of Ikeja Hotel, Honeywell Flour, and Seplat Energy. Ikeja Hotel shed 9.29 per cent to close at N6.35 PZ, Honeywell flour lost 8.41per cent to N3.16 and Seplat Energy declined by 8.30 per[Read More…]
Author: Godwin Anyebe
Zenith Bank seeks NGX approval to sell 5bn shares through rights issue
Zenith Bank Plc has sought approval from the Nigerian Exchange (NGX) Limited to sell 5.23 billion shares through rights issue to raise N188.37 billion. According to a statement recently signed by Godstime Iwenekhai, head of the issuer regulation department at NGX, the qualification date for the rights issue is July[Read More…]
Exciting Prizes to be Won with FirstBank Visa Gold and Visa Infinite Cards in the 2024 Summer Campaign
FirstBank, the West African premier financial institution and financial inclusion services provider announces its continuous VISA Cross Border and Summer campaign in partnership with VISA. The campaign, which commenced on 1 April 2024, is set to run until 31 August 2024 as a rewarding initiative for existing VISA Gold and[Read More…]
OPay Gets Court Order to Restrict Customer Accounts over ₦714m System Glitch
OPay, Chinese-backed fintech giant has received approval from a Federal High Court in Lagos to freeze customer bank accounts in thirty listed banks as part of a process to recover ₦714 million received by customers during a system glitch. A TechCabal exclusive has that the system glitch occurred from December[Read More…]
Hope PSB hit by ₦6.5 billion cyberattack, seeks legal recourse for recovery
Hope Payment Service Bank, the self-described “premier digital-first bank in Nigeria,” has begun a legal process to recover ₦6.5 billion fraudulently obtained from its banking platform by unknown persons. “On about July 15, 2024, there was unauthorised access to the Plaintiff’s banking platform, following which huge sums of money were[Read More…]
Fitch Revises Outlooks on FBN Holdings, First Bank of Nigeria
Fitch Ratings has revised the Outlooks on FBN Holdings Plc’s (FBNH) and its main operating subsidiary First Bank of Nigeria Ltd.’s (FBN) Long-Term Issuer Default Ratings (IDRs) to Positive from Stable and affirmed the IDRs at ‘B-‘. The revision of the Outlooks mirrors the recent sovereign outlook revision and reflects[Read More…]
Cordros Asset Management Announces Date for Second Annual Wealth Summit
Cordros Asset Management, a subsidiary of Cordros Capital, one of Nigeria’s leading financial services firms is thrilled to announce the second edition of its Annual Cordros Wealth Summit, themed “The Wealth Revolution.” According to a statement made available to newsmen recently in Lagos, the exclusive, invitation-only event will take place[Read More…]
Court rejects Ortom’s request to stop probe
A Makurdi High Court recently, presided by Justice Tertsea Asue, on Monday declined to grant an application by former governor of Benue, Samuel Ortom seeking to appeal against its ruling. In the ruling, the court had dismissed his ex parte motion seeking to stop Gov. Hyacinth Alia from investigating him.[Read More…]
Edward Israel-Ayide Honoured in 2024 PR Power List alongside Industry Leaders
Edward Israel-Ayide, Founder of the Lagos-based public relations agency Carpe Diem Solutions, has been recognised as one of 50 influential PR professionals in the GLG Communications 2024 PR Power List. The prestigious list, unveiled at a recent event to celebrate World PR Day, spotlights select change-makers, emerging voices, and community[Read More…]
Nigerian Communications Commission directs telcos in Nigeria to conduct billing audits
The Nigerian Communications Commission (NCC) has directed telecommunication companies in Nigeria to conduct a comprehensive audit of their billing systems. A source within the Commission, who requested anonymity, revealed this development to our correspondent. The source confirmed that KPMG, one of the leading global audit firms, has been appointed to[Read More…]
Consumer TV
FG Revenue Rises 76% to N12.5tn, Fueled by Tax and Oil Gains — Budget Office
The Federal Government’s earnings have increased by 76 percent, rising from N7.1 trillion in 2022 to N12.5 trillion in 2023, due to higher taxes and oil revenues. This information was revealed in the recently released 2025-2027 Medium Term Expenditure Framework and Fiscal Strategy Paper from the Ministry of Budget and[Read More…]