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In an unusual development, Airtel, one of the world’s largest telecommunications services companies, has declared an unprecedented $13 billion dividend payout. The announcement came despite the company’s huge foreign exchange (forex) loss of $549 million. Airtel to pay $13bn Dividend:…
In a bold move that underscores its commitment to monetary discipline, the International Monetary Fund (IMF) has asked the Central Bank of Nigeria (CBN) to stop waivers for banks. The directive comes as part of a wider strategy to make…
In a sudden reversal, Nigerian banks have stopped collection of deposit processing fees, providing relief to customers who were met with the charges on May 1st, 2024. The move came as the Central Bank of Nigeria ( The CBN) issued…
UBA Directors Acquire 27 Million Shares: Executive Directors of United Bank for Africa have been buying the company’s shares with fervor recently. Among the directors is Ugochukwu Nwaghodoh, and a Group Company Secretary, Bili Odum, who have acquired 27 million…
United Bank for Africa (UBA) continues to prioritize a seamless and secure digital banking experience for its customers with recent upgrades in their mobile app. The bank recently upgraded its mobile app to include additional features to help users and…
CrusaderSterling Pensions Limited (CPL), a leading Pension Fund Administrators (PFA), has paid out N137 billion as benefits payments to its contributors and retirees. CPL said the benefits range from lump sum, death benefits, and other approved National Pension Commission (PenCom). …
Government under pressure to stop cybersecurity levy. CBN declared the cybersecurity levy, on May 6, to empower the cybersecurity unit in the country. The policy caused a major uproar in the country and citizens called for the suspension of the…
The Nigerian Bottling Company (NBC) Ltd has revealed it has trained 1,327 young Nigerians with entrepreneurial skills for self-sufficiency. NBC stated that the training was carried out at one of its editions of the #YouthEmpowered initiative. The initiative was held…
Access Pensions has declared an impressive 70 percent surge in revenue, with turnover boosting from N7 billion in 2022 to N12.3 billion in 2023. As a result, its Assets Under Management (AUM) expanded by 25 percent to reach a significant…
In what could change the face of the Southern African fintech industry, influential NASDAQ-listed fintech firm Lesaka Technologies has bought the Cape Town-based Adumo, the market-leader in the payment processing field, for $85 million. The deal, a cash-and-equity transaction, reflects…
