The Central Bank of Nigeria (CBN) has said that no Nigerian bank is ‘experiencing stress,’ and as such has not compelled any to recapitalise before June 2016. This followed an online publication purporting that some deposit money banks in Nigeria are ‘experiencing stress.’ Describing as fictitious, CBN said the story as published “is not only…
Sometimes, to get to the top may be easy, but to stay up there may not be palatable. Here in Nigeria and some other African countries, those who find themselves at the top either by accident or by their dint of hard work usually find it very difficult to hold on firmly to their positions…
The current fuel scarcity across Nigeria is due largely to the entrenched corruption at the Nigerian National Petroleum Corporation, reliable sources familiar with the operations of the state-owned oil company have told PREMIUM TIMES. The NNPC had said the resurgent queues in filling stations were due to panic buying and claimed it had 1.4 billion…
It was a Friday evening at the international wing of the Murtala Mohammed International Airport (MMIA) and 20 lucky customers of United Bank for Africa (UBA) Plc were eagerly waiting for their flight. These were the people who received their Western Union and MoneyGram transfer at UBA during the UBA Remittance Awoof Promo. Their destination…
A Federal High Court in Lagos last week entered judgment in favour of Diamond Bank in a N26.2bn debt recovery suit it filed against a businessman, Chief Sunny Odogwu, and his two companies, Robert Dyson & Diet Limited and SIO Properties Limited. The trial judge, Justice Saliu Saidu, granted Diamond Bank the leave to foreclose…
No fewer than 15 traditional rulers from four local government areas of Osun State stormed the office of Ibadan Electricity Distribution Company in Osogbo, to protest poor supply of electricity in their domains. According to a statement made available to our correspondent in Osogbo on Wednesday, the monarchs took the decision following threats of violence…
Barely 10 years after Nigeria exited from the Paris and London Clubs debt crises, the nation is back to public debt crisis, a Non-Government Organisation – Social Development Integrated Centre – and stakeholders have said. They spoke in Abuja on Tuesday at a forum titled Promoting Accountability in the Management of Public Debt convened by…
The leading financial services institution in digital banking offerings in Nigeria, and across Africa, United Bank for Africa (UBA) Plc is changing the payments landscape in Nigeria with the introduction of contactless payment cards. The contactless payment cards offer UBA customers an easier and more convenient hassle-free way to pay for goods and services. It…
Nigeria’s current fuel scarcity is likely to persist and even worsen unless the Muhammadu Buhari administration takes radical steps to address certain root problems, among them corruption, banking snags and a crisis management in the Nigerian National Petroleum Corporation (NNPC), according to information gathered through investigations by SaharaReporters. During our weeklong investigation, several players in…
Attention to detail is in Delta Air Lines’ DNA, so when the airline decided to refresh and enhance its on-board serviceware in Delta One and First Class, it looked to the renowned network of designers at Alessi to create a signature line featuring a modern and functional design. Customers will see the product of Delta’s…
