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FirstBank appoints Ado Yakubu Wanka non-executive director

Speaking on his appointment, Dr. Adesola Adeduntan, Chief Executive Officer, First Bank of Nigeria Limited said, “We are delighted to welcome Alhaji Ado Yakubu Wanka, to the FirstBank Board. We are especially excited that he is bringing a combination of complementary skills and rich experience to the table which will no doubt enhance the quality of governance towards meeting our strategic goals.

How Lagos policemen abducted me, extorted N185,000 – fashion designer

A fashion designer, Joseph Ejiro, has narrated how he was allegedly abducted by some policemen from the Festac Town Police Post and made to pay a ransom before he was released.
Nigerian Stock Exchange NSE

NSE: Guinness, PZ lowest performing stocks in October

Guinness Nigeria Plc emerged the lowest performing stock on the Nigerian Stock Exchange (NSE) for the month of October in percentage terms.
The Economic and Financial Crimes Commission (EFCC) says an investigation is ongoing on the seized $2.8 million at Akanu Ibiam International Airport, Enugu.

EFCC arraigns banker for ‘multi-million naira fraud’

Nigeria’s anti-corruption agency, EFCC, on Thursday arraigned a banker, Adam Adam, before a State High Court in Yobe State over alleged theft of N11.7million.

Fire engulfs Unity Bank’s head office in Lagos

The head office of Unity Bank on Victoria Island, Lagos State has been gutted by fire.
Nigerian Stock Exchange NSE

Nigerian equities market down 0.74 per cent

The Nigerian equities market resumed trading week on Monday with a loss of 0.74 per cent, following losses achieved by medium and large equities.
Seyi Makinde

I will recover looted funds – Oyo governor

Oyo State Governor Seyi Makinde has wooed banks’ executives to assist the government in ensuring that looted funds are recovered.

Experts: Central bank deposit forfeiture order is legal

Contrary to insinuations in some quarters, the Central Bank of Nigeria (CBN) new policy regime mandating banks to go after customers who default on the repayment of their loans by seizing their deposits in other accounts is backed by law.

Central bank alerts on fraudulent loan schemes

The Central Bank of Nigeria (CBN) on Monday warned loan seekers and owners of small-scale businesses to beware of fraudulent loan offers purportedly by the Federal Government.
Nigerian Stock Exchange NSE

Nigerian stocks slump further

The Nigerian stock market took another round of pummelling following the weak state of the economy and as a result of the N157 billion shaved off from the market capitalisation of the Nigerian Stock Exchange (NSE) Week-on-Week (W-o-W).
Telecommunications operators have blasted the Nigerian Civil Aviation Authority (NCAA) over its threat to demolish about 7000 mast, largely owned by Global System for Mobile communication (GSM) service providers in the country.

NCAA begins 8,805 telecom masts demolition

The Nigerian Civil Aviation Authority (NCAA) on Tuesday said it will demolish 8,805 masts belonging to Globacom Nigeria Limited, banks and other financial institutions.

Unity Bank refutes SPIPRPP’s N7 billion allegation

Unity Bank Plc on Tuesday faulted the allegation against it by the Special Presidential Investigation Panel for Recovery of Public Property (SPIPRPP) over the ongoing reconciliation of affected Ministries, Departments and Agencies’ (MDA) accounts.

Reps: Over $900 million found in secret non-TSA accounts

The House of Representatives said it discovered that over $900m was still “being held” by Federal Government’s ministries, departments and agencies (MDAs) outside Treasury Single Account (TSA).
Nigerian Stock Exchange NSE

Equities market sheds 1.22 percent on sustained profit taking

The Nigerian equities market yesterday shed 1.22 per cent, causing market capitalisation to dip below the N11 trillion mark on sustained profit taking.

Court attaches Imo’s accounts in central bank, 16 other banks over N1.5 billion debt

A High Court of the Federal Capital Territory (FCT), Abuja has ordered the attachment of funds in accounts owned by the Imo State Government in the Central Bank of Nigeria (CBN) and 16 other banks in the country.

Banks partner Mojec on prepaid meters

Mojec Meter Assets Management Company, a subsidiary of Mojec International Limited, has announced a partnership with some banks to provide retail financing for the rollout of prepaid meters to its customers within the coverage area of its partner distribution companies (DISCOs) across the country.

Court to hear contempt proceedings against central bank chief Godwin Emefiele on June 13

An FCT High Court in Kubwa has fixed June 13, to hear contempt proceedings against the CBN Governor, Godwin Emefiele, to enable the applicant, Godwin Emmanuel, respond to a motion on notice served on him.

Contempt: Court orders substituted service on CBN governor

An FCT High Court, on Wednesday, granted an application seeking substituted service on CBN Governor, Godwin Emefiele, who is charged with alleged contempt in a case filed against him by one Godwin Emmanuel.

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Dangote Cement Industry

Shareholders seek more mergers, acquisitions in cement industry

Shareholders under the aegis of Constance Shareholders’ Association of Nigeria (CSAN) on Saturday said that mergers and acquisitions would improve cement industry activities on the Nigerian Stock Exchange (NSE).
North Korea has conducted another “crucial test” at its Sohae satellite launch site, state media reported Saturday, as nuclear negotiations between Pyongyang and Washington remain stalled with a deadline approaching.

North Korea conducts ‘crucial test’ at Sohae launch site

North Korea has conducted another “crucial test” at its Sohae satellite launch site, state media reported Saturday, as nuclear negotiations between Pyongyang and Washington remain stalled with a deadline approaching.

Tony Momoh: Anyone who calls President Buhari derogatory names will be dealt with

Prince Tony Momoh, a former Minister of Information on Saturday said Punch newspaper did nothing wrong by referring to President Muhammadu Buhari as a Major General.
Godwin Obaseki

Edo government begins revalidation exercise for pensioners in 18 local councils

The Edo State Government has announced the commencement of the revalidation exercise for pensioners in the 18 Local Governments Areas (LGAs) of the state.

Ondo governor presents staff of office to Olowo of Owo

Royal fathers from far and near who graced the occasion include Oba Adeyeye Enitan Babatunde Ogunwusi, Ooni of Ife, Oba Aladetoyinbo Aladelusi, Deji of Akure, Oba Victor Kiladejo, Osemawe of Ondo Kingdom and other prominent traditional rulers in the state.