Category: Business

Stanbic IBTC Holdings to host the seventh edition of its Youth Leadership Series

Stanbic IBTC Holdings, a leading financial services group committed to fostering growth and innovation in Nigeria’s economic landscape has unveiled plans for its much-anticipated annual event, the Youth Leadership Series (YLS). Now in its seventh year running, the YLS serves as a beacon of inspiration and empowerment for the nation’s youth, offering invaluable insights and strategies for…

Stanbic IBTC Breakfast Session highlights investment potential in Nigeria’s energy sector

Stanbic IBTC Bank, a leading financial institution in Nigeria, recently hosted its pivotal Energy and Infrastructure Breakfast Session in Lagos. This event marked a significant milestone in the country’s dialogue on sustainable energy, drawing together a distinguished assembly of industry leaders, policymakers and experts. Dr. Demola Sogunle, Chief Executive of Stanbic IBTC Holdings, delivered a…

GTCO Plc Releases 2024 Q1 Unaudited Results Reports Profit before Tax of ₦509.3billion

Guaranty Trust Holding Company Plc (GTCO or the Group) has released its Unaudited Consolidated and Separate Financial Statements for the period ended March 31, 2024, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE). The Group reported profit before tax of ₦509.3billion, representing an increase of 587.5% over ₦74.1billion recorded in the corresponding…

Fresh Crisis Hits Heritage Bank As NUBIFIE Shuts Down Bank’s Headquarters

THE WITNESS is reporting that the National Union of Banks, Insurance and Financial Institutions Employees (NUBIFIE), has shut down Heritage Bank’s head office in Lagos following the sack of over 1000 personnel by the management of lender led by Mr. Akinola George-Taylor without following due process. The union said it had resolved to continue with…

Wema Bank Fined N61.4m For Breaching Nigerian Laws

Wema Bank found itself on the wrong side of 7 Nigerian laws in 2023, paying penalties totalling N61.350 million in one year. This was revealed in the bank’s full-year 2023 financial statement, which showed that the lender contravened a cybersecurity law, a section of the Bank and Other Financial Institutions Act (BOFIA) 2020, the Central…

Yetunde Adegbite Spotlights Digital Innovation Opportunities for Advertisers

In an inspiring call to action at the World Out of Home Organization (WOO) Forum, Yetunde Adegbite, Managing Director iProspect Nigeria, an integrated marketing communications under Dentsu has emphasized the significant digital transformation opportunities awaiting out-of-home (OOH) advertising professionals, particularly in emerging markets. Delivering a keynote on “The Market & Media Landscape of Nigeria,” Yetunde’s…

Agbaje Gives Insight to ‘A Digital only Africa – A Vision for 2030’ at Infosys Finacle 2024 Nigeria Banking Connect

Infosys Finacle, the industry leader in digital banking solutions, hosted the Finacle Nigeria Banking Connect 2024 in partnership with IBM and CWG on February 24 at the Eko Hotel, Lagos. Over 200 senior bankers representing all the leading banks in Nigeria attended the event. The conference theme – Recomposing Banking – had sessions covering the…

Harvard Business School Launches Tony Elumelu Foundation Case Study

At a time of renewed geopolitical interest in Africa, and an increasing questioning of traditional development finance models, Harvard Business School today released a case study examining the role and impact of the Tony Elumelu Foundation (TEF), and its unique approach to catalysing entrepreneurship in Africa. The Foundation, Africa’s leading funder of young entrepreneurs, has…

Squad Powers OmniPay’s Trade Business to Simplify Payments for FMCG Industry

In a strategic move aimed at furthering its mission to empower African traders with the necessary payment solutions for thriving in the digital era, Squad, a fintech subsidiary of Guaranty Trust Holding Company Plc (GTCO), offering comprehensive payment and e-commerce solutions for businesses, has entered a partnership with OmniPay, a subsidiary of OmniRetail Inc. This…

Stanbic IBTC Bank Nigeria PMI: Output returns to growth but inflationary pressures remain elevated

The Nigerian private sector returned to growth in December, with renewed increases in both output and new orders recorded amid some signs of recovery in demand. This was despite continued intense inflationary pressure, with purchase costs and selling prices each rising at sharper rates than in November. Meanwhile, business confidence dropped to the joint-lowest in…