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Sterling Bank petitions IG over court ruling violations

30.01.2025
Sterling Bank Limited has petitioned the Inspector-General of Police, Kayode Egbbetokun to address the alleged use of the National Assembly and the Police Force CID by Miden Systems Limited and its director, Dr Brendan Usoro, to harass the bank and its executives. In a statement made available to The PUNCH on Monday, the lender said...
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Dangote-backed investors to acquire Kenyan coffee chain

30.01.2025
Alterra Capital, an Africa-focused private equity fund with Dangote among its key investors, is partnering with Phatisa Group to purchase the restaurant chain from UK-based investment firm Actis for an undisclosed sum. According to a Malawi-based COMESA Competition Commission notice, Mauritius-based Alterra will hold a majority stake in Java House. Click here for more
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LAPO Bank rewards savers with N1.5m

30.01.2025
LAPO Microfinance Bank Limited has unveiled a raffle draw for the Xpress Savings Promo Season III, offering over N1.5m and 50 prizes of N50,000 to promote a savings culture. The raffle draw is  scheduled to take place on January 31, 2025. The LAPO Xpress Savings Promo Season III, which ran from October 1 to December...
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Recapitalisation: Four banks target N931bn

30.01.2025
As the second round of capital raising exercise kicks off, four banks will be looking to raise about N931.91bn in fresh capital to meet the new capital base required for banks operating in Nigeria. These banks include national lenders like Wema Bank and Stanbic IBTC Holdings. Others have international authorisation, like FCMB Group and Fidelity...
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Heavy sanctions for FX code breaches, CBN warns banks

30.01.2025
The Central Bank of Nigeria Governor, Olayemi Cardoso, has issued a stern warning to financial institutions, emphasising that violations of the newly launched Nigeria Foreign Exchange Code will attract severe sanctions. Speaking during the launch of the FX Code at the CBN headquarters in Abuja on Tuesday, Cardoso highlighted the significance of the framework in...
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FG invests N150bn in real estate fund

30.01.2025
The Federal Government of Nigeria, through the Ministry of Finance Incorporated, has fully subscribed to the Series 1 issuance of N150bn for the Real Estate Investment Fund. In a recent statement, it was revealed that the full subscription to the Series 1 Fund underscores the FG’s role as the sponsor while empowering the private sector...
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UBA to educate SMEs, business owners

30.01.2025
Africa’s Global Bank, United Bank for Africa Plc, is set to host a Knowledge Series webinar to educate small and medium business owners on the 2024 withholding tax regulations that went into force this year. The webinar themed ‘2024 Withholding Tax Regulations, Specific Emphasis on How They Affect SMEs’ is scheduled to be held on...
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FG approves 25-year licence for 10 gas distribution companies

30.01.2025
The Federal Government, through the Nigerian Midstream and Downstream Petroleum Regulatory Authority, has issued a 25-year gas distribution licence to 10 companies for the establishment, construction and operation of gas distribution networks. The licenses issued, aimed at promoting domestic gas utilisation, cover franchise areas in Lagos, Ibadan, Port Harcourt, and Benin City. It is to...
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NUPRC targets N15tn revenue in 2025

30.01.2025
The Nigerian Upstream Petroleum Regulatory Commission has said it is targeting N15tn revenue this year. The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, disclosed this on Tuesday while addressing newsmen shortly after he was awarded the ThisDay CEO of the Year Award in Lagos State. Komolafe recalled that the NUPRC surpassed...
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I apologise for saying no heaven without tithe – Adeboye

04.10.2024
The General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adeboye, has apologised for saying that Christians who don’t pay tithe might not make it to heaven. Adeboye who had previously said that paying tithe was one of the prerequisites for going to heaven, apologised for the comment while addressing his congregation Thursday...

Protesters storm Rivers electoral commission, insist election must hold

04.10.2024
Angry protesters on Friday stormed the office of the Rivers State Independent Electoral Commission, singing and chanting ‘Election must hold’. They defied the heavy rainfall spreading canopies, while singing and drumming, with one side of the road blocked. The protest came after the Rivers State governor stormed the RSIEC in the early hours of Friday...

Man who asked Tinubu to resign admitted in psychiatric hospital

04.10.2024
The Adamawa State Police Command has disclosed that the 30-year-old Abdullahi Mohammed who climbed a 33 kv high tension electricity pole in Mayo-Belwa last Friday has been admitted at the Yola Psychiatric hospital for mental examination. The Police Public Relations Officer of the command SP Suleiman Nguroje, told Arewa PUNCH on Friday in an exclusive...

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