Government takeover of ailing Arik Air is generating controversy even as some undercurrents suggest that there could be more to it than the purported rescue mission of the Asset Management Corporation of Nigeria. Arik air was until recently, the pride of the Nigerian aviation industry; and frequent travellers who patronised the airline did so with…
AMCON Takes Over Arik Airline
The Federal Government has taken over Arik Airline, which has been experiencing difficulties in recent times. The decision to intervene, according to the Asset Management Corporation of Nigeria, AMCON, “clearly underscores the government’s commitment to instilling sanity in the country’s aviation sector and prevent a major catastrophe.” The airline will now be managed by…
UBA Wins In 5 Categories At Global Banking Awards
The United Bank for Africa, UBA, won in five categories at this year’s Bankers Award held in London. The bank bagged the Bank of The Year 2016 in Gabon, Congo-Brazzaville, Senegal, Cameroon and Chad, a feat that the Group Managing Director/CEO, Mr. Kennedy Uzoka dedicated to the customers, whose loyalty, support and patronage he said,…
Emefiele Under the Gun
Much uncertainty grips the Central Bank of Nigeria as the Presidency probes alleged irregularities in the audited financial statement of the bank for the 2015 financial year, — even in the midst of the institution’s curious foreign exchange transactions The love of money, the good book says, is the root of all evil. And so…
The Odds Against Buhari’s $30 Billion Loan
President Muhammadu Buhari’s quest to secure about N9.12 trillion foreign loans, required by his administration for infrastructural development, to get the country out of recession may surfer a setback due to political rivalry and failure of the government to gain the confidence of the people The feeling within the Presidential Villa last week was…
FG Restates Commitment To Infrastructure Financing
Finance Minister, Kemi Adeosun has restated the importance of critical infrastructure projects, especially in the areas of rail and power to the country’s economic development. Adeosun, who spoke during the visit of the Chinese Ambassador to Nigeria, Zhou Pingjian, to her office in Abuja, described the commitment of the current administration to infrastructure development as…
CBN, SEC, PTDF, NAFDAC, Others To Return N450bn
Top government agencies including the Central Bank of Nigeria, CBN, Petroleum Technology Development Fund, PTDF, National Agency for Food and Drug Administration and Control, NAFDAC, are to refund about N450 billion to the Federal Government. Others are the Nigerian Television Authority, NTA, and the Securities and Exchange Commission, SEC, among others. To this end the …
Fidelity Bank Showcases Products at Lagos Trade Fair
Visitors to the 2016 Lagos International Trade Fair have been treated to an array of rewarding products by Fidelity Bank Plc. Nnamdi Okonkwo, managing director and chief executive officer of the bank used the occasion to explained the secret behind the success story of the bank. He explained that in spite of the harsh business…
Fidelity Bank Launches NIBSS mCash Product
As part of the renewed efforts to further drive the financial inclusion mandates of the Central Bank of Nigeria, CBN, Fidelity Bank Plc has gone live on the Nigerian Inter-Bank Settlement System, NIBSS mCash product which will allow it’s registered merchants to receive payments from customers using their phones. Launched in collaboration with the NIBSS,…
Fidelity Bank Gets New Board Leadership
Fidelity Bank Plc appoints three new non-executive directors, among them, a former deputy governor of the Central Bank of Nigeria A former Deputy Governor of the Central Bank of Nigeria, CBN, Ernest Ebi has emerged as a non-executive director and chairman designate of the board of directors, Fidelity Bank Plc. The appointment comes on the…
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