Stanbic IBTC retains Fitch’s ‘AAA’ Rating

A recent report by globally renowned credit rating agency, Fitch Ratings, has affirmed that Stanbic IBTC Holdings PLC, Nigeria’s leading end-to-end financial solutions provider, and Stanbic IBTC Bank PLC, its banking subsidiary, have retained their National Long-Term Ratings of AAA(nga). According to the report, both organisations also maintained their National Short-Term Ratings of F1+(nga). The ‘AAA (nga)’ rating represents the highest score assigned by Fitch Ratings in its National Rating Scale for Nigeria; and it is assigned to issuers with the lowest expectation of default risk in comparison with other…

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Verve Card formally announces its acceptance in Ghana

Verve, a leading payments technology and card business in Africa, has partnered with the Ghana Interbank Payment and Settlement Systems Limited (GhIPSS) to launch acceptance in Ghana. The initiative by Verve international also signals acceptance across several other African countries. On the back of this strategic partnership between GhIPSS & Verve International which took place at Accra Marriot Hotel, on Friday October 25, 2019, Verve Card users (both Verve Global & Verve Classic) can now transact across all channels throughout Ghana. This acceptance of Verve card is available in a…

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InterswitchSPAK 2.0 begins airing November 2

Interswitch Group, is set to begin the airing of the InterswitchSPAK 2.0 Television quiz competition on Saturday, November 2, 2019. The transmission will feature the Television quiz show which is a segment of InterswitchSPAK Switch-a-future initiative, a CSR initiative of the company focused on driving increased interest in the study of Science, Technology, Engineering and Mathematics (STEM) subjects among Senior Secondary School students across Africa. The competition is focused strictly on SS2 (Year 11) students between the ages of 14-17 years. The quiz competition will be premiered by Africa Magic…

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AMCON seeks Judiciary intervention to recover over N5trillion debt

Photo Caption: Sitting L-R: Hon. Justice Adamu Jauro of the Court of Appeal; Mr. Ahmed Kuru, Managing Director/Chief Executive Officer, Asset Management Corporation of Nigeria (AMCON); Hon. Justice Zainab Bulkachuwa CFR, Nigeria’s President of the Court of Appeal; Hon. Justice A.D. Yahaya as well as Hon. Justice T.A. Wilson. Standing L-R: Hon. Justice Idris Buba; Hon. Justice S.J. Adah; Hon. Justice P.O. Ige; Mr Albert Nwanozie, Head, Legal Department, AMCON; Hon. Justice E. Agim; Mr Joshua Ikioda, Group Head, Resolution Strategy, AMCON; Mr Jude Nwauzor, Head, Corporate Communications Department, AMCON;…

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Stanbic IBTC rewards long serving staff for hard work, loyalty

Stanbic IBTC Holdings PLC, a member of Standard Bank Group has held the 2019 edition of the company’s Long Service Awards. The annual event is an avenue for the organisation to recognise and reward staff who have put in significant years of service to Stanbic IBTC.   Delivering his welcome remarks, Dr. Demola Sogunle, Chief Executive, Stanbic IBTC Bank PLC, described the event as being in line with the bank’s tradition of honouring employees who have distinguished themselves through hard work, dedication and commitment to Stanbic IBTC Holdings PLC.  …

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Standard Bank partners Rhiza Africa to boost agricultural produce through innovation

Standard Bank has partnered Rhiza Africa in a bid to boost Agricultural produce and increase farmers’ yield, through innovation, driven by digital intelligence. Standard Bank’s satellite hosted-remote sensing innovation is delivered in partnership with service provider RHIZA Africa and backed by Origin Enterprises PLC and the European Space Agency. About 60 per cent of the world’s uncultivated arable land presents is situated in Africa, which presents a major opportunity to meet the 70 per cent increase in global food demand expected by 2050. Africa also has potentials to grow through…

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How hackers fraudulently withdrew N752m from UBA

An auditor with United Bank for Africa (UBA) Plc, Ojo Oladimeji, has told a Federal High Court, Lagos, how suspected fraudsters hacked into the bank’s server and fraudulently withdrew N752 million from the account of the Flour Mills of Nigeria Plc, domiciled with his bank. Oladimaji made sterling revelation on Tuesday, while giving evidence in a criminal charge filed against one of the alleged hackers, Ola Lawal, a.k.a Lawal Roland, who is standing trial on alleged fraud of N46 million, brought against him by the Economic and Financial Crimes Commission…

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Stanbic IBTC shines at All Africa Employee Engagement Awards

Stanbic IBTC Holdings PLC, a member of Standard Bank Group, won three awards at the All Africa Employee Engagement Awards held recently in Sandton, Johannesburg, South Africa. The All-African Employee Engagement Awards rewards individuals and businesses for contributions to the development of employee engagement and the future of work on the African continent. Stanbic IBTC Holdings emerged winner in three of the 12 categories. The organisation won in the Customer and Employee Experience and Major Corporate Engagement Company of the Year categories. Mrs. Olufunke Amobi, Country Head, Human Capital at…

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2019 Amended Act: Legal consultant challenges, AMCON, others to recover over N5trillion debt

In what seemed like an x-ray of the newly amended 2019 AMCON Act, which was recently signed into law by President Muhammadu Buhari, a legal consultant and Senior Partner, Olaniwun Ajayi -LP, Mr Muyiwa Balogun has challenged the Asset Management Corporation of Nigeria (AMCON); Asset Management Partners (AMPs) and the Inter-Agency Presidential Committee set up by the federal government to leverage the 2019 Amended AMCON Act, to recover the over N5trillion outstanding AMCON debt before the corporation’s sunset.   Balogun who made a case in support of the 2019 Amendments…

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Pensions Alliance Limited appoints Godwin Onoro as acting MD

Leading Nigerian Pension Fund Administrator, Pensions Alliance Limited, has announced a change of guards in the highest level of its leadership. A press statement from the Company, dated 4th October 2019, and signed by the Company Secretary, Folasade Modebelu, stated that the erstwhile managing director, Mrs. Morohunke Bammeke, concluded her term with effect from 3rd October 2019. Mr. Godwin Onoro, executive director of Finance and Operations since 2013, has been appointed as acting managing director to steer the affairs of the company, until a new substantive Managing Director is announced.…

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