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Union Bank

Union Bank of Nigeria (“UBN”) was established in 1917 and is one of Nigeria’s long-standing and most respected financial institutions, offering a portfolio of banking services to individuals, SMEs, commercial and corporate clients.

Zenith, Access Banks express interest to acquire Union Bank

Two Nigerian lenders – Zenith Bank Plc and Access Bank Plc – are among the list of financial institutions from Africa and the Middle East that have indicated an interest in the acquisition of Union Bank Plc and other African assets of Atlas Mara Group, a Pan-African banking group.
Zainab Ahmed, the minister of finance, budget and national planning, says state and local governments share some of the responsibility to fix roads in Nigeria.

Finance minister charges NEXIM on mandates

The Minister of Finance, and National Planning, Mrs Zainab Ahmed has charged the Board of the Nigerian Export-Import Bank (NEXIM) to pursue relentlessly its assigned Ministerial Mandates with a renewed vigour.
Nigeria Naira

11 Nigerian banks pay N308.2 billion dividends to shareholders

A total of 11 listed banks have declared a cumulative N308.206 billion dividends to their numerous shareholders in their respective 2020 financial year, in a move to give these investors good returns on investment, according to a report.
The suspects are to be transferred to the state CIID for discreet investigation as ordered by the Ogun State Commissioner of Police, Edward Ajogun.

Police dismiss three officers who extorted N150,000 from LASU student at gunpoint

Ogun State Police Command, Tuesday, dismissed three police officers who extorted N150,000 from a student of the Lagos State University (LASU), Sheriff Adedigba, through the Point of Purchase, PoS machine.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

NSE: Investors lose N118 billion on renewed profit taking

Investors on the Nigerian equities market yesterday lost N118 billion as the market reversed its previous session gains on renewed profit-taking.
Ngozika Ihuoma, a defence witness, on Tuesday, said he was not paid to defend Abdulrasheed Maina, Chairman, defunct Pension Reform Task Team (PRTT), in the ongoing money laundering charge against him.

I was not paid to defend Abdulrasheed Maina – witness tells court

Ngozika Ihuoma, a defence witness, on Tuesday, said he was not paid to defend Abdulrasheed Maina, Chairman, defunct Pension Reform Task Team (PRTT), in the ongoing money laundering charge against him.
The Lagos Zonal Office of the Economic and Financial Crimes Commission, (EFCC) has secured the conviction of Temitope Oluwasanmi and Augustine Olayinka before Justice Mojisola Dada of a Special Offences Court, Lagos State High Court, Ikeja.

Banker, one other bag jail terms for N116 million fraud

The Lagos Zonal Office of the Economic and Financial Crimes Commission, (EFCC) has secured the conviction of Temitope Oluwasanmi and Augustine Olayinka before Justice Mojisola Dada of a Special Offences Court, Lagos State High Court, Ikeja.
The Board of Lagos-based Mountain of Fire Ministry (MFM) FC is on the verge of announcing a replacement for its former Coach, Fidelis Ilechukwu.

MFM appoint new interim head coach

The management of Mountain of Fire and Miracles Ministries Football (MFM) Club has confirmed the appointment of Olalekan Gabriel as the interim head coach of the modest Nigeria Professional Football League (NPFL) team.
Cross-border digital payments service, World Remit has described the move by the Central Bank of Nigeria, CBN, mandating commercial banks to open dollar accounts for customers who do not have as timely and apt.

World Remit aligns with CBN on new dollar account opening

Cross-border digital payments service, World Remit has described the move by the Central Bank of Nigeria, CBN, mandating commercial banks to open dollar accounts for customers who do not have as timely and apt.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

NSE’s capitalisation drops further by N112bn on profit taking

The local bourse sustained its negative run on Thursday recording the fourth consecutive loss, following profit taking in Dangote Cement, Zenith Bank and United Bank for Africa stocks.

AGPC secures $260 million financing for $650 million gas processing facility

ANOH Gas Processing Company Limited (AGPC), a gas processing company established by the Nigerian Gas Company (NGC) and Seplat Petroleum Development Company Plc (Seplat) on a 50-50 basis has successfully raised $260million in debt to fund the completion of the AGPC Gas Processing Plant. The financing was more than 50percent oversubscribed.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

Profit taking: NSE market indices drop further by 0.10 percent

Nigeria’s bourse on Wednesday sustained its bearish performance for the third consecutive trading day, with the market indicators dropping further by 0.10 per cent.

NSE: Zenith Bank tops value-traded stocks as investors gain N1.1 trillion YTD

Activity chart of the Nigerian Stock Exchange (NSE) for the last trading session of the month, Friday January 29, showed Zenith Bank atop Most-Traded stocks with a total value of N1.2 trillion and transaction volume of 44,956,083 shares.
African Export-Import Bank (Afreximbank)

Afreximbank disburses $250 million to Nigerian company to acquire 45% stake in oil lease

Afreximbank has disbursed 250 million dollars as part of its support for Trans Niger Oil and Gas Ltd (TNOG) to acquire 45 per cent stake in Oil Mining Lease (OML) 17 onshore oilfield.
Heirs Holdings, in partnership with Transnational Corporation of Nigeria Plc, on Friday announced the “unconditional acquisition” of a 45 percent participating interest in OML 17 through TNOG Oil and Gas Limited, their associated company.

TNOG acquires 45% of OML 17 from Shell, Total, ENI

Heirs Holdings, in partnership with Transnational Corporation of Nigeria Plc, on Friday announced the “unconditional acquisition” of a 45 percent participating interest in OML 17 through TNOG Oil and Gas Limited, their associated company.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

Nigeria stock market advances by N214 billion

Nigeria extended bullish posture on Wednesday with the market capitalisation increasing further by N214 billion on sustained bargain hunting of blue chips.
The Board of Union Bank Nigeria Plc Minday announced that its Chief Executive Officer, Mr. Emeka Emuwa, will retire on March 31, 2021, after leading the financial institution for eight years.

Union Bank chief Emeka Emuwa retires

The Board of Union Bank Nigeria Plc Minday announced that its Chief Executive Officer, Mr. Emeka Emuwa, will retire on March 31, 2021, after leading the financial institution for eight years.
Russian President Vladimir Putin on Monday bestowed the national honour of “The Order of Friendship” on Prof. Benedict Oramah, President of the African Export-Import Bank (Afreximbank) in Moscow.

Afreximbank expands trade finance intermediary initiative, lists eight Nigerian banks

The African Export-Import Bank (Afreximbank) has increased the number of its trade finance intermediaries (TFIs) to more than 65 in 30 African countries.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

All-Share Index grows by 1.7% as trading resumes

The first trading session of the week opened bullish following the 1.73 per cent growth recorded by the Nigerian Stock Exchange (NSE) on Monday.
The logo of MTN is pictured in Abuja, Nigeria September 11, 2018. REUTERS-Afolabi Sotunde-File Photo

Dangote Cement, MTN Nigeria, 9 others raise N478.4 billion from commercial paper

Dangote Cement, MTN Nigeria, Nigerian Breweries and nine other Industry leading Nigerian companies have raised a sum of N478.4 billion through Commercial Paper issuances between January and September 2020. Newsletter from Nigerian Investment Promotion Commission (NIPC) has revealed.
Access Bank Plc has urged its customers and the general public to disregard social media report of its shutting 340 branches nationwide.

Access Bank in talks to buy Atlas Mara assets

Access Bank, Nigeria’s biggest bank by customer base, is in talks to acquire some assets belonging to Atlas Mara Limited, a financial services group, in order to expand its reach on the continent.

Tax appeal tribunal orders Union Bank to pay CRIRS N56.6 million

The Cross River Internal Revenue Service (CRIRS) has won a landmark case instituted against it by Union Bank Plc, before the Tax Appeal Tribunal (South-south zone) sitting in Benin.

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Ole Gunnar Solskjaer criticised football authorities for Manchester United’s punishing schedule after his side advanced to the Europa League final on Thursday, calling it “physically impossible” for his team.

Manchester United boss blasts tight schedule after reaching Europa League final

Ole Gunnar Solskjaer criticised football authorities for Manchester United’s punishing schedule after his side advanced to the Europa League final on Thursday, calling it “physically impossible” for his team.
The police command in Ekiti on Friday confirmed the killing of a police officer as gunmen allegedly abducted a Chinese expatriate in Ado Ekiti, the Ekiti State capital.

Eight ‘gunmen’ killed, vehicles recovered in Imo

Eight people suspected to be hoodlums operating under the name “unknown gunmen” on Thursday night were gunned down in a gun battle with joint security operatives.
England’s chances of winning the Euro 2020 tournament this year have been boosted by the success of the Premier League clubs in the Champions League and Europa League, says Harry Kane.

Euro 2020: Club success in Europe can give England edge – Harry Kane

England’s chances of winning the Euro 2020 tournament this year have been boosted by the success of the Premier League clubs in the Champions League and Europa League, says Harry Kane.
Namibia plans to go ahead with the roll-out of the AstraZeneca vaccine even after South Africa stalled its use because trials showed it’s less effective against mild infection of a Covid-19 strain dominant in the region.

Ghana takes delivery of 350,000 coronavirus vaccines from DRC

Ghana has been sent 350,000 more AstraZeneca vaccines to help in the fight against the deadly coronavirus disease.
Hertha Berlin climbed out of the Bundesliga relegation places on Thursday with a 3-0 home win over Freiburg in their second match after coming out of a two-week quarantine.

Bundesliga: Hertha down Freiburg to climb out of relegation places

Hertha Berlin climbed out of the Bundesliga relegation places on Thursday with a 3-0 home win over Freiburg in their second match after coming out of a two-week quarantine.

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Liberia's President George Weah speaks during a news conference at Presidential palace in Abidjan, Ivory Coast, April 4, 2018. REUTERS-Thierry Gouegnon

CAF, FIFA confer Liberia’s president with ambassador of inter-school project

In continuation of a three-nation tour by Dr. Patrice Motsepe, President of the Confederation of African Football (CAF), which newsmen reported on recently, a joint CAF and FIFA delegation arrived in Liberia on Thursday, to hold meetings in Monrovia with the Liberian Football Association and government officials.
Gov. Dapo Abiodun of Ogun State.

Ogun workers make case for 2015-2020 leave allowance

Ogun state workers have pleaded with the state governor, Prince Dapo Abiodun to look into the remnants of the 2015-2020 leave allowance of the state public servants.

Senator Anyim: Military action or foreign help alone cannot bring permanent solution to insecurity

The former Senate President, Anyim Pius Anyim, Monday stated that “military actions or even foreign help alone cannot bring permanent solutions to ethnic conflicts or nationality agitations breeding insecurity across the country.
Ukaeje John Emeka, the suspected syndicate leader also known as Dr Phil, was arrested in April for allegedly impersonating medical doctors to buy human organs like kidneys.

EFCC arrests ‘leader’ of human organs trafficking syndicate

The Economic and Financial Crimes Commission (EFCC) has arrested an alleged human organs trafficker.
Governor Oluwarotimi Akeredolu of Ondo State has granted amnesty to 11 inmates serving various jail terms in correctional centres in the state to mark the beginning of 2021.

May Day: Ondo governor reiterates commitment to workers’ welfare

Ondo State Governor, Mr Rotimi Akeredolu has reiterated the commitment of his administration to the welfare of workers in the state.