As earnings increased to N13.4 billion in September 2022, up 41.6 percent from N9.46 billion in September 2021, Sterling Bank announced its best nine-month profits in seven years.
The bank’s most recent financial statement shows that it earned N90 billion in interest income in September 2022, an increase of 8.8% from N82.7 billion in September 2021.
From N35 billion in September 2021 to…
Tech4Dev, a social change and development initiative has explained that complex challenges facing Nigeria’s business environment can become a thing of the past if adequate investment is made in ensuring literacy in Science, Technology, Engineering, and Math (STEM)…
The Transcorp Hilton hotel has illuminated its surroundings as Nigeria gets ready for the holiday festivities.
At a “Christmas Tree Lighting Ceremony” in Abuja, Bulent Tarlan, the hotel’s general manager, invited guests and stakeholders.
The Chief Executive…
The MD of Polaris Bank emphasizes the need of addressing cybersecurity concerns
December 17, 2022
In order to secure the security of the online banking environment, Adekunle Sonola, managing director of Polaris Bank Limited, has emphasized the necessity to address the core concerns of human capital, technology, and third-party stakeholders.
According to Sonola, achieving a secure and long-lasting financial services sector requires addressing issues such as skill gaps, information sharing, and…
The Board has been given permission by the shareholders of Dangote Cement Plc, the largest cement producer in Africa, to repurchase up to 10% of the company’s outstanding shares as of the resolution’s effective date.
At the Dangote Cement Plc. Extraordinary…
11Plc appeals the sale of the Lagos Continental Hotel to the Supreme Court
December 17, 2022
The recent decision of the Appeal Court invalidating the sale of the Lagos Continental Hotel to 11Plc has been appealed to the Supreme Court by the Asset Management Corporation of Nigeria (AMCON), Polaris Bank Limited, and 11Plc.
The parties appealed to the Supreme Court via…
The Nigerian Inter-Bank Settlement Scheme (NIBSS) data for the past eleven months reveals that the amount of Point of Sale (PoS) transactions climbed by 20.5 percent to 1.06 trillion from 883 million in the same time of 2021.
However, its worth increased by 32% from N5.73 trillion in the same period of 2021 to N7.56 trillion as of November 2022.
The new N20,000 daily cash withdrawal cap through…
Cherry Finance has been introduced by Payday to boost international money transfers.
December 17, 2022
Payday, a Pan-African Fintech startup, unveiled Cherry Finance, a new remittance product that would make it easy and safe for African immigrants in North America (the US and Canada) to send money home.
With a flat fee of $2 for each transaction or transfer, Cherry Finance…
Visa promises to invest $1 billion in Africa's payment system over the next five years.
December 17, 2022
Visa has committed to spending $1 billion over the following five years to improve Africa’s payment environment. The international payment company made the investment announcement on Wednesday during the US-Africa Business Forum.
The investment will, in the…
Investments in Venture Platform's $40 million early-stage fund exceed expectations.
December 17, 2022
With a final close of $46 million, Venture Platform’s early-stage and international fund has surpassed its initial $40 million goal.
New global participants in the oversubscribed fund include corporates, DFIs, commercial banks, high-net-worth individuals, and global institutional investors (HNIs). This list consists of Standard Bank, the International Finance Corporation (IFC), British…