The United Bank for Africa has revealed plans to sell the Abuja Electricity Distribution Company to recover a $122m debt the Disco is owing it.
The lender had in December 2021 taken over the disco following the government’s approval.
The plan to sell was revealed at the bank’s audited 2022 results conference call (strategic review and outlook).
In December 2021, UBA took over AEDC over the…
UBA Foundation, the corporate social responsibility arm of United Bank for Africa Plc, says it has joined the rest of the world to celebrate women in the month of March, with various activities aimed at empowering young women and promoting gender equality.
Specifically, the…
No fewer than 173 digital lending applications have been approved to operate in Nigeria by the Federal Competition and Consumer Protection Commission.
The 173 loan apps, only 119 have full approvals while 54 currently have conditional approvals while it bars illegal online…
Polaris Bank has offered free entry to local and international airport lounges to its customers.
In a statement on Thursday, the bank said that its customers who open its Polaris Select Plus Account would get free entry to local and international airport lounges across the globe.
The bank said that new customers could open the Select Plus Account and an existing customer could migrate their…
World Bank has said developing counties including Nigeria have huge investment needs due to their inadequate infrastructure and other challenges.
As such, the Washington-based lender called on policymakers to create an environment conducive for investment and devoid of…
United Bank for Africa on Thursday said it recorded N201bn profit before tax in its 2022 financial period.
The bank disclosed this in a statement on its audited financial results for the full year ended December 31, 2022, titled, ‘Full year 2022: UBA delivers strong…
First Bank of Nigeria Limited has announced a phased corporate name change for its subsidiaries in the United Kingdom and Sub-Saharan Africa.
The bank disclosed this in a statement by the Group Head, Marketing & Corporate Communications, First Bank, Folake Ani-Mumuney, on Thursday titled, ‘FirstBank announces a name change of its subsidiaries, reiterates its commitment to boosting…
Zenith Bank Plc grew its gross earnings by 24 per cent from N765.6n as of the end of 2021 financial period to N945.5bn in the corresponding period of 2022.
The bank disclosed this in a statement on Tuesday on its audited results for the year ending December 31, 2022, titled…
The Central Bank of Nigeria has barred banks and other financial institutions seeking a conversion licence from expanding or reducing their current banking network in its new draft guidelines.
The CBN discloses this in a circular tagged ‘FPR/DIR/PUB/CIR/001/072’ to banks…
The House of Representatives, on Tuesday, approved the request by the Federal Government to borrow $973,474,971.38 from China Development Bank.
This followed the decision by the China-Exim Bank to reject Nigeria’s $22,798,446,773 loan request earlier approved by the National Assembly.
The Chairman of the House Committee on Rules and Business, Abubakar Fulata, moved a motion for the legislative…