Home Topics Financial Services

Financial Services

Samsung Electronics vice-chairman Lee Jae-yong was not in attendance for a scheduled court hearing Monday after the death of his father, Samsung chairman Lee Kun-hee, was announced yesterday. Yonhap

Samsung heir absent from bribery retrial following father’s death

Samsung Electronics vice-chairman Lee Jae-yong was not in attendance for a scheduled court hearing Monday after the death of his father, Samsung chairman Lee Kun-hee, was announced yesterday. Yonhap reports that the conglomorate’s de facto leader and presumed heir had asked the Seoul High Court to permit him to attend the funeral.

Melbourne lifts lockdown after zero new virus cases

Australia’s second-biggest city will this week exit its coronavirus lockdown following nearly four months under onerous restrictions, authorities announced Monday, after no new daily cases or deaths were recorded.

Tony Elumelu named in 2020 TIME100

TIME has named Tony O. Elumelu, one of Africa’s leading investors and philanthropists, in the 2020 TIME100, the annual list of the 100 most influential people in the world. The list, now in its seventeenth year, recognises the activism, innovation, and achievement of the world’s most influential individuals. Mr Elumelu, who is one of only four Africans on the 2020 list, is recognised for his track record of business turnaround and value creation, and economic empowerment of young Africans.
There have been too many scams and scandals in Britain’s financial services’ market and a fundamental review is needed, the Financial Conduct Authority (FCA) said on Tuesday.

UK watchdog seeks to overhaul scandal-hit consumer investment market

There have been too many scams and scandals in Britain’s financial services’ market and a fundamental review is needed, the Financial Conduct Authority (FCA) said on Tuesday.

POS, Mobile transactions volume hits four-year high in Nigeria

According to the Principal Lead MasterCard Advisors for Sub-Saharan Africa, Bola Asiru, “POS transaction volume along with mobile transactions (Interscheme) value, reached four years high with N416 billion and N275 billion transactions in July respectively.
ATM Queues

Nigerian banks urged to address increasing numbers of customers visiting daily

Prof. Olayinka David-West of Information Systems/Academic Director, Lagos Business School, has urged banking institutions to embrace digital economy to address the increasing numbers of people visiting their branches daily.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

NSE strengthens investor protection, upgrades X-Whistle

The Nigerian Stock Exchange (NSE) has announced the upgrade of its whistleblowing platform, X-Whistle.
Kudakwashe Tagwirei, whose business interests range from gold mining, financial services to fuel, becomes the third ally of President Mnangagwa to be added to the US sanctions list this year.

US slaps sanctions on Zimbabwean tycoon

The US on Wednesday imposed sanctions against a business tycoon with close links to Zimbabwean President Emmerson Mnangagwa and former leader Robert Mugabe for allegedly abetting corruption.
Pan-African investment company, Heirs Holdings has announced the appointment of Dan Okeke as Group Executive Director.

Heirs Holdings names new group executive director

Pan-African investment company, Heirs Holdings, has announced the appointment of Dan Okeke as Group Executive Director.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

Investors gain N73.07 billion as equities market adds 0.58% WoW

Despite weak sentiments, the Nigerian equities market closed positive last week as All Share Index (ASI) gain 0.58 per cent. Thus local bourse recorded its largest weekly gain in seven weeks.
A branch of South African mobile communications provider Vodacom in Cape Town is shown in this picture taken November 10, 2015. REUTERS-Mike Hutchings-File Photo

Vodacom partners with China’s Alipay to create ‘super app’

Vodacom Group plans to create a ‘super app’ in partnership with digital payment provider Alipay, part of China’s Alibaba group, to allow consumers in South Africa to shop online, pay bills and send money to family from next year.
The Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

Central bank unveils non-interest guidelines for AGSMEIS, MSMEDF, others

The Central Bank of Nigeria (CBN) has unveiled series of guidelines for Non-Interest Financial Institutions under its Agri-Business, Small and Medium Enterprise Investment Scheme (AGSMEIS), Micro, Small and Medium Enterprises Development Fund (MSMEDF), the Accelerated Agricultural Development Scheme (AADS) and seven other intervention schemes in its bouquet.
Mustafa Chike-Obi

Mustafa Chike-Obi emerges new Fidelity Bank chair

“Under the chairmanship of Ebi, Fidelity Bank recorded significant growth across key financial metrics with both Ebi and Adetu playing significant roles, complementing management effort in the delivery of these milestones; in service of the long term vision of the Bank,” a bank spokesperson said in a statement.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

Nigerian stock market records N29 billion loss

Trading activities on the floor of the Nigerian Stock Exchange fell by 0.22 per cent on Thursday to halt its gaining streak as market speculators began profit-taking.
A member of medical staff attends to residents as they queu during screening and testing campaign aimed to combat the spread of the coronavirus disease (COVID-19), in Lenasia, South Africa, April 21, 2020. REUTERS-Siphiwe Sibeko

South Africa considers flexible restrictions after lockdown

South Africa is considering introducing flexible restrictions on economic activity after it phases out a nationwide lockdown, according to a draft government presentation seen by Reuters on Wednesday.
Prime Minister Shinzo Abe said the measures will be announced in detail Tuesday and will include increased social distancing but stop short of hard lockdowns of the kind in place in Europe.

Japan records 53 new coronavirus cases, 7,744 in total

Japan’s Health Ministry and local governments said on Tuesday that the number of COVID-19 cases in the country rose by 53 to 7,744.

Investors stake N15.5 billion on equities ahead of Santa Claus rally

The momentum of activities at the Nigerian equities market has increased as investors opened up more orders in early positioning for the often-expected Santa Claus rally. Investors staked N15.5 billion on 1.38 billion ordinary shares in 14,528 deals last week, 32.3 per cent increase on total turnover volume of 1.04 billion ordinary shares valued at N14.63 billion in 14,974 deals traded in the previous week.

NAICOM okays new directors for standard alliance insurance

The National Insurance Commission (NAICOM) has approved the appointment of Haruna Mohammed and Uzoma Igbonwa as the nonexecutive directors for Standard Alliance Insurance Plc.

Recent Stories

Britain reopens visa application centers in Nigeria

The United Kingdom High Commission has announced that its center’s across the country has reopened.
Nigeria’s Private Sector led Coalition Against COVID-19, CACOVID, yesterday formally announced the flag-off of a nationwide distribution of multi-billion naira food palliative and other relief items to vulnerable Nigerians.

CACOVID: Looted palliatives awaiting distribution

Most of the looted palliatives in warehouses across the nation were awaiting distribution to over 2 million vulnerable households, the private sector-led Coalition Against COVID (CACOVID) has explained.
Two minors and four other suspects were paraded on Monday by police in Ekiti State in connection with arson attacks on three police stations in the State.

#EndSARS: Police parade two minors, four others for arson

Two minors and four other suspects were paraded on Monday by police in Ekiti State in connection with arson attacks on three police stations in the State.
ElLHr1xXIAAyqkS

#EndSARS: Ekiti panel receiving petitions ahead of November 2 sitting

The Ekiti State Judicial Panel of Inquiry on the Allegations of Human Rights Violations Against the Police, defunct SARS officers and other Persons has commenced its activities with a call on citizens of the State to start submitting petitions ahead of its November 2 inaugural sitting.
The Lekki Concession Company, LCC, has refuted claims that it removed the CCTV’s at Lekki tollgate few hours before the shooting of protesters on Tuesday.

Britain asks Nigerian government to investigate Lekki shooting, bring culprits to book

The British High Commission in Nigeria has asked the Federal Government of Nigeria led by President Muhammadu Buhari to investigate all killings and incidents associated with the #EndSARS protests.