Abule Egba ATM fraudster not our staff- Stanbic IBTC Bank

The management of Stanbic IBTC Bank PLC has dismissed the arraignment of a man purported to be a staff of the Bank on charges bordering on the theft of customers deposits as false.  The Bank clarified that the defendant, a 22-year-old Tope Olajide, is not, and was at no point in time an employee of Stanbic IBTC Bank PLC.      The alleged culprit was apprehended around 7:30 am, on Thursday, 27 August 2020, by security operatives after he was exposed by CCTV footage using ATM cards he had allegedly stolen…

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Stanbic IBTC Bank appoints Oyedeji as Independent Non-Executive Director

The Board of Directors Stanbic IBTC Bank PLC has announced the appointment of Mr Wale Oyedeji as an Independent Non-Executive Director with effect from 08 September 2020, following the receipt of all required regulatory approvals.   Mr Oyedeji holds a Bachelor of Science in Agricultural Economics from the University of Ibadan and a Master of Science in Financial Economics from the University of London. He is also a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and an associate of the Chartered Institute of Taxation. Mr Oyedeji has…

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N5trillion Debt: AMCON renews call for legislative support

Photo Caption: Senator Uba Sani, Chairman, Senate Committee on Banking Insurance and Other Financial Institutions (left) with Mr Ahmed Lawan Kuru (ALK), Managing Director/CEO Asset Management Corporation of Nigeria (AMCON) The managing director/chief executive officer of Asset Management Corporation of Nigeria (AMCON), Mr Ahmed Lawan Kuru (ALK) has renewed the call for legislative support to his agency. The AMCON CEO made the call at the weekend when he led the management of AMCON to appear before a technical session of the Senate Committee on Banking Insurance and other Financial Institutions…

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Stanbic IBTC Bank partners UN on women empowerment in Nigeria

Stanbic IBTC Bank PLC, a subsidiary of Stanbic IBTC Holdings PLC, has partnered the United Nations on an initiative to provide seed funding for women across the six geopolitical zones of Nigeria and the Federal Capital Territory. This is in furtherance of the organisation’s commitment to enhancing food security and providing employment for women in Nigeria across the agricultural value chain. The UN initiative, tagged ‘The UN Women Project’, was borne out of the need to provide economic empowerment for women and close the gender gap in agricultural productivity and…

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Zenith Bank drags Stallion Group’s founder, Vaswani to court over alleged N23.3bn debt

Zenith Bank Plc has dragged the chairman chief executive officer of Stallion Groups of Companies, Mr. Sunil Vaswani before an Igbosere High Court of Lagos State, Nigeria, over alleged unpaid N23, 388, 188, 756. 049 billion debt. Zenith Bank alleged that the suit marked LD/3945GCMW/2020, against Mr. Vaswani, is pursuant to Order 5 Rules 4 of the High Court (Civil Procedure Rules 2009 and under the court’s inherent jurisdiction, was filed due his failure and refusal to pay the alleged debt despite several and repeated demands. Consequently, Zenith Bank Plc…

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Kuru harps on strategic importance of AMP Scheme to AMCON’s recovery of N5trillion debt

The Asset Management Corporation of Nigeria (AMCON) Managing Director/Chief Executive Officer, Mr Ahmed Kuru attested to the efficacy of the processes of receivership and winding up procedures as amended in the 2019 AMCON Act, which President Muhammadu Buhari signed into law last year.   He called on Asset Management Partners (AMPs) of the Corporation to leverage those provisions among other potent aspects of the Act to rave up recoveries. Even as its sunset draws near with each passing year, AMCON is still heavily burdened by over N5trillion, which is yet…

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Ex-bankers seek order restraining UBA from tampering with accounts

Former bankers with the United Bank for  Africa (UBA) Plc, who were alleged to have be wrongly disengaged, have again dragged the bank before National Industrial Court of Nigeria (NICN), Lagos, seeking an order of interlocutory injunction restraining the bank, from debiting their accounts in any other banks in the country, over alleged outstanding consumer/staff loans. It would be recalled that early this year, 116 among former employees of UBA Plc, whose appointment were alleged to have unlawfully terminated, have dragged the bank before the court seeking several orders which…

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New survey reveals impact of COVID-19 on gig workers

Flourish, a mission-oriented global venture capital firm with portfolio investments throughout Africa, today published the South African edition of The Digital Hustle: Gig Worker Financial Lives Under Pressure. The report tracks the experiences of gig workers, including those who use digital platforms such as e-hailing or delivery apps, to learn more about how they are faring during the COVID-19 pandemic. The South African survey is part of a bigger study in May tracking the experiences of gig workers across the globe. The firm released the Brazil edition in June 2020…

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Interswitch boss calls for sustenance of electronic payment policies post COVID-19

Following the outbreak of COVID-19, more Nigerians have embraced electronic payments as a means of avoiding physical contact around cash handling. For this momentum to be sustained after the pandemic, good policies that drive value for customers must be implemented by the Apex bank, commercial banks and Fintech companies. This was the view of Interswitch’s Founder and Group Chief Executive Officer, Mitchell Elegbe while speaking at the 14th Annual Nigerian Bar Association’s Section on Business Law (NBA-SBL) tagged “Business Unusual: Digital acceleration for growth in a new world”. The two-day…

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Court orders Fidelity Bank to return alleged stolen N51.4m to UBA via Police

A Federal High Court, sitting in Lagos, has ordered Fidelity Bank Plc to return the sum of N51, 443, 606. 48 million, to the United Bank for Africa (UBA) Plc through the Nigeria Police. The said N51.443,606.48 million, according to the Intelligence Response Team (IRT) of the Nigeria Police, was said to be part of N107, 907, 039, allegedly stolen from a client of UBA Plc and fraudulently hid in a Fidelity Bank Plc’s account number 6323548628 maintained by one Eze Roseline. The court presided over by Justice Oluremi Oguntoyinbo,…

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