Category: Business
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COVID-19, banks and the new normal
Robert Obioha One of the realities of the Coronavirus (COVID-19) pandemic in Nigeria and elsewhere is the new normal it has engendered in the way things are done. The disease has so much affected social life and the world of work that there must be new ways of carrying out our daily human activities. And…
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Banks adopt promos to woo customers
Many banks have taken to promos to woo customers. One of them is United Bank for Africa (UBA), which Bumper Account promo raffle draw, has held in Lagos. During the event, over 100,000 of them won N100,000 each, with N2 million as the bigger prize. Fidelity bank PlC and Access Bank also held similar events.…
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NEXIM MD, Others Seek Quick Passage Of Nigerian Factory Bill
The Nigerian Export-Import Bank (NEXIM) says there is every need to expedite action on the passage of the Nigerian Factory Bill. The Bill seeks to amongst other objectives, promote Small and Medium-sized Enterprises (SMEs) development and also to serve as a strategic tool towards financial inclusion in trade services. Managing director of NEXIM Bank, Mr…
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Bridging Infrastructural Gap, Key To Economic Revival
The managing director, Old Mutual Life Assurance, Segun Omosehin, said bridging the infrastructural deficit gap covering power, transportation and housing is critical to affecting the quality of economic growth and jobs creation. Speaking at the Business day 2020 Nigeria Economic Outlook Conference which held yesterday in Lagos, he said it will also enhance economic well-being…
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Buhari: Nigeria Committed to Providing Enabling Business Environment
Omololu Ogunmade President Muhammadu Buhari yesterday in Abuja said the federal government was committed to providing an enabling environment for businesses in the country to thrive. This came as the telecoms’ giant, MTN, pledged to pump $1.6 billion into its Nigerian operations to strengthen its network. According to Buhari, partnerships between the public and private…
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FirstBank enhances educational sector, supports schools with over N10 billion loan
Nigeria’s premier and leading financial services provider, First Bank of Nigeria Limited, has announced that within the last year, it has supported educational institutions in the country with loans in the sum of over N10 billion. The Bank’s support is carried out through its FirstEdu product, an educational solution created to enhance the educational facilities in…
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Three Nigerian start-ups, 9 others to showcase businesses at Investors’ Summit in S/Africa
Venture Capital for Africa (VC4A) has announced the 12 ventures (11 Series A and 1 Seed+) for its 2019 Venture Showcase. According to the firm, these companies represent the best investment opportunities on the African continent. “They have been vetted by 40 VC investors through a rigorous referral and selection process. “The companies demonstrate strong…
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Recapitalisation’ll enhance corporate governance in MfBs — MD Advans MfB
Obinna Ukachukwu is the Managing Director, Advans La Fayette, Microfinance Bank, MfB, which recently opened its first branch in Lagos. In this interview, he spoke on the necessity for recapitalisation in the MfB sub-sector and why it took Advans La Fayette MfB, seven years before it opened its first Lagos branch. He also shares his…
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SystemSpecs: The indigenous technology company transforming the future of Nigeria
Business transformation is a hackneyed phrase in the corporate world, yet it holds sway over the longevity of brands. History is replete with tales of companies emphatically ascending to the zenith of their industries double-quick, due to their eccentricity but ultimately failing to sustain the momentum for various reasons. Most commonly attributed to their failures…
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CBN Governor unfolds five-year agenda, targets increased financial inclusion, bank recapitalisation.
Bassey Udo The Central Bank of Nigeria (CBN) governor, Godwin Emefiele, on Monday unfolded the policy direction of his new five years tenure, promising to facilitate access to financial services to 95 per cent eligible Nigerians by 2024. Mr Emefiele, who acknowledged much was still left to be achieved from a similar agenda set in…