Author: Citynews

Some members of the minority shareholders community have called for a probe of the management and directors of the failed Heritage Bank. The call was made in chats with The PUNCH following the revocation of the licence of the bank by the Central Bank of Nigeria. In announcing the licence revocation, CBN said that it was with immediate effect, saying “This action has become necessary due to the bank’s breach of Section 12 (1) of BOFIA, 2020. The board and management of the bank have not been able to improve the bank’s financial performance, a situation which constitutes a threat…

In a bid towards ensuring continuity in leadership and management as well as operational efficiency of the Public Service, the Governor of Ogun State, His Excellency, Prince Dapo Abiodun, CON, has approved the appointment of Mrs. Adejumoke Oluwatoyin ADEWOLE and Mr. Bernard Olanrewaju OGUNYINKA as Permanent Secretaries in the Public Service of Ogun State. This is in addition to the appointment of Mr. Augustine Adekunle OYESANWEN, Director (Agric. Planning), GL. 17, Engr. Olanike Olawunmi OGUNBONA, HOLGA, GL. 17 and Mrs. Arinola Nusirat ADETAYO, Deputy Director (Acct.), GL. 16 as Permanent Secretaries by His Excellency as announced in April, 2024. The…

…AGUSTO & CO UPGRADES WEMA BANK’S RATING TO Bbb+ WITH ESG SCORE OF 2 Following its strong 2023 financial performance, Wema Bank, Nigeria’s foremost innovative bank and pioneer of Africa’s first fully digital bank, ALAT, has received an upgraded rating from Agusto & Co, validating the Bank as Bbb+ rated with an ESG Score of 2 and confirming a stable outlook for the Bank. Agusto & Co is a Pan-African credit rating agency and leading provider of industry research and knowledge in Nigeria and Sub-Saharan Africa. By upgrading Wema Bank’s rating from BBB to BBB+, Agusto has confirmed that Wema…

Boxing promoter Eddie Hearn has announced that Anthony Joshua will face the winner of the Tyson Fury vs. Oleksandr Usyk bout, provided he defeats Daniel Dubois in their upcoming fight in September. Joshua’s last fight was in March, where he delivered a spectacular knockout against former UFC champion Francis Ngannou in the second round, reaffirming his dominance in the ring. In a recent interview with The Sun, Hearn emphasized that their primary focus remains on Joshua reclaiming the world heavyweight title. He said: “I expect the winner of the December fight to fight Anthony Joshua, if he wins in September.…

…As Supplementary UTME holds June 21, 22 The Joint Admissions and Matriculation Board, JAMB, has expressed concerns over the low turnout of Direct Entry registration as the exercise draws to a close. The board, in a statement by the spokesman, Fabian Benjamin, yesterday, observed that even as it had approved extra registration points, apart from the Professional Registration Centres, PRCs, which are JAMB-owned centres, in Lagos, Kwara and Osun states, the turnout had remained poor. Explaining that the expansion was to ensure that every eligible candidate was given the opportunity to realise their dreams of registering for the exercise, JAMB,…

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has submitted the projected cost implications of implementing a new national minimum wage to President Bola Tinubu. Edun, along with the Minister of Budget and National Planning, Atiku Bagudu, presented President Tinubu with the cost implications of the new minimum wage in his office at the presidential villa in Abuja. Speaking with State House correspondents after meeting with the President, Edun verified the submission and reassured that “there is no cause for alarm.” Edun’s submission of the cost implication follows a 48-hour ultimatum issued to him by President…

L BY DARE ADEJUMO The faithful across the globe stand still in joyful adoration; resonance of purity as Hallmark of human existence, altruism, love, holiness and humanitarianism vibrated and rejuvenated in the hearts of mankind as the great prophet and humanist and extra-ordinary philanthropist TBJOSHUA’S was remembered in the third year anniversary of his glorious departure from the earth on June 5, 2021. Dr. Kirstan Nematandam, a South African nationalist who flew in to Ikotun Egbe Lagos to partake in the solemn night ceremony described the all night praise and worship event as ‘a spiritual high watershed, and great moment…

Members of the Tripartite Committee on Minimum Wage comprising government representatives, organised labour, and the organised private sector, have resumed talks on a new minimum wage for workers in Nigeria. The committee reconvened at the Nicon Luxury Hotel in Abuja on Wednesday. The Federal Government was represented at the meeting by the Minister of Finance, Wale Edun; the Minister of Budget and National Planning, Atiku Bagudu; the Minister of Labour; Nkeiruka Onyejeocha, and representatives of the Secretary to the Government of the Federation, along with the Head of Service of the Federation. The President of the Nigeria Labour Congress, Joe…

Customers of the liquidated Heritage Bank gathered at the bank’s headquarters in Lagos on Wednesday, to seek clarification on the beginning of their deposit payments. A visit by a News Agency of Nigeria correspondent revealed that security personnel stationed at the bank’s entrance prevented customers from entering the premises. Addressing the customers through the gate, an official informed them that payments had begun for savings account holders and wouldcontinue until Friday. “You don’t need to take any action. NDIC staff are already processing payments. Your money will be transferred to your other account linked with your BVN,” the official assured…

L – R: Stanley Amuchie, Executive Director, Chief Operations & Information Officer, Fidelity Bank Plc; Oladele Sotubo, MD/CEO Stanbic Capital; Dr Nneka Onyeali-Ikpe, MD/CEO, Fidelity Bank Plc; Mustafa Chike-Obi Chairman, Fidelity Bank Plc; Ezinwa Unuigboje, Company Secretary, Fidelity Bank Plc; and Jubril Enakele, Chief Executive, Iron Global Markets Limited at the signing ceremony of the Fidelity Bank Public Offer and Rights Issue at the Bank’s head office in Lagos recently. Fidelity Bank Plc (“Fidelity Bank” or the “Bank”) has concluded all necessary arrangements to raise a total of up to ₦127,100,000,000.00 (One Hundred Twenty-Seven Billion, One Hundred Million Naira) by…