Author: Citynews

Adaora Umeoji Highlights Zenith Bank’s Robust Financial Metrics: Says Bank Is Poised To Cross The N1 Trillion Mark In Profit In 2024. Zenith Bank Plc, Nigeria’s leading financial institution, held its Capital Markets Day last week to showcase the bank’s inherent values as it embarks on its recapitalisation journey. The event, which brought together key market players, focused on the bank’s growth trajectory, strategic objectives, market performance, and consistent, robust dividend payout over the years. It also provided an opportunity for the bank to inform capital market stakeholders about its robust risk management culture, adherence to regulations, capital adequacy, and…

Amo Farm Sieberer Hatchery Ltd., a leader in Nigeria’s agricultural sector, commemorated and supported the coronation of the new Alaawe of Awe, Oba Cornelius Abiola Taiwo Oladokun III, reaffirming its commitment to the community. The coronation took place on July 5, 2024, at St. Joseph Grammar School, Awe, Oyo State. Awe, Oyo State, where approximately 70% of Amo Farm’s – national operations are based, holds a special place in the company’s ethos. Over the years, Awe has been a pivotal location for operations and a cherished home where the company has flourished. Amo Farm Sieberer Hatchery is the primary employer…

Guaranty Trust Holding Company plc (“GTCO PLC” or the “Issuer”) (NGX: GTCO) today announced the opening of its Offer for Subscription of 9,000,000,000 Ordinary Shares of 50 kobo each at N44.50 per Ordinary Share (the “Offer”) following the clearance of the Offer Prospectus and registration of the Offer Shares by the Securities and Exchange Commission, Nigeria (SEC Nigeria). Net proceeds of the Offer will be applied toward the recapitalisation of GTCO PLC’s principal banking subsidiary, Guaranty Trust Bank Limited (GTBank Nigeria) as well as support Group-wide growth and expansion initiatives.  Application List for the Offer opens on Monday, July 15,…

Against the background of groundswell of supports and enthusiasm for the bank’s ongoing offers, Fidelity Bank Plc has started preparations to allow the bank absorb oversubscriptions. With investors rallying behind the bank’s N127.1 billion combined rights and public offer, market pundits had indicated that the bank would raise more than initial size of the combined offer. Reports have shown high subscription levels for the offers early weeks of the offer period, riding on the back of acceptances by existing shareholders and demand by the general investing public. Fidelity Bank is offering a rights issue of 3.2 billion ordinary shares of…

Digital Solutions Provider, Globacom, is offering up to N12 million and other exciting prizes in its newly unveiled innovative AI-focused services designed to elevate customers’ experience on the network. The services according to a Globacom statement in Lagos include “Glo Awoof Win EverWage”, ” Glo Awoof Win SMS-to-Ai” and “Glo Awoof Win Ai Fortune”, which it said would provide invaluable insights into harnessing AI for everyday needs. They also offer subscribers the chance to win exciting prizes through lottery draws. The “Glo Awoof Win EverWage” is a game service that provides a platform for subscribers to win a lifetime salary or…

In line with the United Nations’ initiative to highlight population-related issues on World Population Day, it is crucial to emphasize the significance of investing in data collection to understand population dynamics, tailor solutions, and drive progress. Nations worldwide are encouraged to develop policies that enhance the standard of living for their citizens. In this global context, real estate plays a pivotal role, especially in Nigeria, which boasts a burgeoning population of over 200 million people. Adron Homes and Properties stands out as a key player in addressing the housing needs of this rapidly growing population by creating thriving communities. Adron…

By Dave Agboola Have you ever wondered why Rt Hon Dr Mudashiru Obasa is well loved by people, especially those from his constituency? Well, don’t wonder further! It has been discovered that he is a grassroots politician! In the realm of politics, few things are as crucial as providing a platform for the voices of ordinary citizens to be heard. The essence of democracy lies in the ability of elected representatives to champion the interests and concerns of their constituents. In this regard, one name that stands out in Lagos of today is Rt Hon (Dr) Obasa, Speaker of the…

A former Presidential Candidate Gbenga Olawepo-Hashim, has hailed the Supreme Court Judgement that bars the Federal Government from sending Local Governments funds to States, but directly to the LGAs. The Supreme Court, on Thursday, declared that it is unconstitutional for State governors to hold onto funds meant for Local Government (LG) administrations. In its lead judgement read by Justice Emmanuel Agim, the apex court observed that the refusal of state government on financial autonomy for local governments has gone on for over two decades. However, Mr Olawepo-Hashim counseled that accountability structures including the local Governments Legislative Assemblies, should be strengthened…

Adetola Adewale Murisiku, an artisan resident in Lagos State, has narrated how the failure of PalmPay customer service agents to answer his calls cost him money to the tune of N2.8 million in May. Murikisu said he had lost his mobile device on his way to work on that fateful day, May 20. Left with no means of communication and apprehensive about his financial safety, he attempted to reach PalmPay through their customer service lines to no avail. According to him, all of PalmPay’s agents were suddenly busy when he tried reaching them. “When I was sure I couldn’t find…

Just a year after the Spanish women’s team defeated England 1-0 at the FIFA Women World Cup final, their male counterparts will go head-to-head for European glory at Euro 2024 in Germany. Can the Three Lions avenge the Lioness at the Olympiastadion Berlin on Sunday 14 July? Gareth Southgate will be hoping to be fourth time lucky on Sunday having led his team to consecutive Euro finals for the first time in England’s history. The former defender has outperformed his predecessors and he his keen to etch his name in history books by clinching England’s first Euro silverware. For the…