BUSINESS 

Access Bank to partner Benin monarch on Satellite town development, others

The management of Access Bank has pledged to support the initiative of the Benin monarch, Omo N’Oba N’Edo Uku Akpolokpolo Ona ewuare II to build a new city outside the city which he said would discourage rural urban-rural migration. The Group Managing Director of the bank Herbert Wigwe made this declaration when he and members of the management team paid a courtesy visit to the Oba of Benin in his palace where he also promised that the bank would be part of this year’s annual Igue festival. He said; “We…

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BUSINESS 

FMBN unveils scheme for home ownership

As part of fulfilling its mandate of bridging housing gap that is currently posing a great challenge to the county, the Federal Mortgage Bank of Nigeria (FMBN) has unveiled various products for affordable homes. Speaking to journalist at the ongoing Lagos International Trade Fair, FMBN, Managing Director  Ahmed Dangiwa, said that the Bank has the primary mandate of financing affordable housing for the low and middle income earners in both the formal and informal sectors through the National Housing Fund (NHF) Scheme by registering and contributing 2.5 percent of their…

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BUSINESS 

Disruptive innovations key to economic development….IT firm

The management of System Specs, a Nigerian company with interests in financial technology, designs and development of human resource management, (HRM) solutions has called for a newer and disruptive innovative approach to national issues for a rapid development of the country.  Disruptive innovation is one that creates a new market and value network and eventually disrupts an existing market and value network, displacing established market-leading firms, products, and alliances. Speaking as a panelist at the 51st Annual Chartered Institute of Personnel Management (CIPM) conference, the Executive Director of the firm,…

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BUSINESS 

Telecom firms get five days to stop illegal deductions

The Minister of Communications and Digital Economy, Dr Isa Pantami, has ordered the Nigerian Communications Commission to implement a directive on the reduction of the cost of data in the country. The NCC was equally ordered to enforce an earlier directive to compel service providers to put a stop to illegal deduction of subscribers’ data within five days. The commission was given five days to act on the directives. Pantami had given the directives in October, after receiving a progress report on the implementation of Short-Term Performance Targets set for…

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BUSINESS 

Labour set for minimum wage negotiations

The organised labour is set to commence discussions with the state governments on the new minimum wage for workers in their respective state vis-à-vis the recent agreements it reached with the Federal Government on the consequential adjustments. Already, the Joint National Public Service Negotiating Council, which negotiated the consequential adjustments arising from the new minimum wage of N30,000 with the FG said on Tuesday that it had written to the state governments on the issue and directed the representatives of the workers’ unions to commence the negotiations. The Secretary of…

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BUSINESS 

Ernest Ndukwe resigns from Access Bank board

Access Bank Plc, on Tuesday, announced the resignation of Dr Ernest Ndukwe as an independent Non-Executive Director from its board. This was contained in a statement issued by Mr Sunday Ekwochi, the bank’s Company Secretary and posted on the Nigerian Stock Exchange (NSE) website. “The Board of Directors of Access Bank hereby announces that Ndukwe has indicated his intention not to seek re-election during the bank’s 2020 AGM. “Accordingly, he has resigned from the board, effective March 31, 2020, to enable him focus on his current and additional responsibilities. “Ndukwe…

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BUSINESS 

Quest for uniform exchange rate for ERGP

The Federal Government Economic Recovery and Growth Plan’s (ERGP’s) medium-term plan of 2017 to 2020 was designed to improve implementation of flexible foreign exchange (forex) rate regime. After three years, experts have assessed where the country is in its quest to full exchange rate unification as against the multiple exchange rate. The  Lagos Chamber of Commerce and Industry advised the Central Bank of Nigeria (CBN)  to discontinue the official exchange rate of N305 to $1. According to LCCI Director-General, Muda Yusuf, “The current multiplicity of rates is inimical to sustainable…

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BUSINESS 

FCMB Flexxtern winners get internship, others

Another set of 30 young graduates is ready to gain first-hand work experience and employment opportunity in the corporate world, under the fourth First City Monument Bank (FCMB) internship programme and contest, tagged #FCMBFlexxtern. The participants, who are between 16 and 25, emerged victorious in an online contest organised by the bank as part of its youth engagement, capacity building and reward initiatives. This brings to 50, the number of winners produced by the #FCMBFlexxtern initiative since it was launched in 2016. The latest winners (Flexxterns) were inaugurated and presented…

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BUSINESS 

Stanbic IBTC launches @ease wallet

Stanbic IBTC Holdings PLC, a member of Standard Bank Group, has unveiled its @ease wallet, in line with its commitment to deepening financial inclusion and drive its digitilisation agenda. The product will provide a unique range of services to the informally served, the underbanked and the unbanked on various structured platforms with the last 10 digits of a phone number. Stanbic IBTC @ease wallet affords customers the opportunity to access banking services such as interbank transfers, debit card issuance and card less withdrawals from Automated Teller Machines (ATMs) or the…

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BUSINESS 

AIB probes Air Peace air return

The Accident Investigation Bureau (AIB) said on Tuesday that it has been notified on of a serious incident involving a Boeing 737-500 aircraft operated by Air Peace, with registration numbered 5N-BUJ. Spokesman of the Bureau,  Tunji Oketumbi disclosed this in a statement. He said the aircraft  departed Murtala Muhammed Airport in Lagos at 0735 local time enroute Owerri with 90 passengers and six  crew members on board. He said information provided by the Air Traffc Control (ATC), indicated that the flight crew declared engine failure at 07:47 local time and…

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