Author Archives: Shalom

UBA, Facebook Launches Leo, Chat Banking Platform

By Nse Anthony-Uko (Sundiata Finance) – United Bank of Africa (UBA), has launched an artificial intelligence (AI) banking which rides on social networks by offering seamless transactions for its customers through a collaboration with Facebook. The new banking platform called ‘LEO’ launched on Thursday in Lagos is designed to understand customers’ needs, patterns, lifestyle and also relates with customers in ...

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Premium Pension Boss Targets N1trn Pension Assets

By Nse Anthony-Uko (Sundiata Post) — The new managing director and chief executive officer of Premium Pension Limited(PPL), Mr. Umar Sanda Mairami is targeting to grow the pension assets base of the company from its current N500 billion to about N1 trillion in the next few years. Currently, the Pension Fund Administrator (PFA) manages 738,736 Retirement Savings Accounts (RSAs) and ...

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Union Bank To Deploy Fresh Capital To Business Areas In 2018

By Nse Anthony-Uko (Sundiata Finance) – Chief executive officer of Union Bank, Mr. Emeka Emuwa, has the bank would deploy fresh capital across identified business areas and it is expected to increase capacity to serve customers better while accelerating the speed of doing business in 2018 and delivering returns to investors in short to medium term. In a statement issued ...

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Restructuring: 7-UP Major Owner Raises Offer Price To N125 Per Share

By Nse Anthony-Uko Seven-Up Bottling Company (7UP) announced that its majority shareholder, Affelka S.A, a privately-owned Lebanese firm, has revised the scheme consideration upward to N125 per share. It would be recalled that Seven-Up Bottling has received an offer from its majority shareholder, Affelka to buy out the minority shareholders for N19.33 billion ($60 million). Affelka has offered to buy ...

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BVN: Mortgage, Microfinance Banks’ Customers, Others Barred From Withdrawals

By Nse Anthony-Uko (Sundiata Finance) — The Central Bank of Nigeria (CBN) has directed Other Financial Institutions (OFIs) to place all accounts without Biometric Verification Number (BVN) on a ‘post no debit’ status. OFIs operators are those in Microfinance Banks (MFBs), Primary Mortgage Institutions, Development Finance Institutions (DFIs), Discount House, Bureaux-de-change, among others. The CBN in a circular signed by ...

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Nigerian Stock Market Upbeat, Crosses 40,000 Points To 4-year High

By Nse Anthony-Uko (Sundiata Finance) – Nigerian stocks have rallied to their highest level since 2014, as the dust settles on a bruising economic recession that hammered company profits and share prices. The All Share Index (ASI) rose 1.29 per cent to 40,362.97 points Tuesday, January 9, according to data available on the website of the Nigerian Stock Exchange, its ...

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Diamond Bank Receives ISO/IEC 20000-1:2011 Certification On Infotech Security

By Nse Anthony-Uko (Sundiata Finance) – Diamond Bank has been awarded the  ISO/IEC 20000-1:2011 certification by the British Standard Institute (BSI) Group. The certification, which was awarded after a rigorous process and systems audit by qualified BSI auditors, is a seal of approval that the Bank’s network architecture, software design, security policies, procedures and protective practices conforms to global security ...

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Vitafoam To Pay N156.3m Dividend For 2017

By Nse Anthony-Uko (Sundiata Finance) — The board of directors of Vitafoam Nigeria Plc on Monday recommended a total dividend payout of N156.3 million to its shareholders for the financial year ended September 30, 2017. Shareholders will be paid 15 kobo per share and the dividend is subject to shareholders’ approval and withholding tax. If approved at the Annual General ...

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CBN To Fine Banks N10,000 Per Week for Payment Infractions

By Nse Anthony-Uko (Sundiata Finance) – The Central Bank of Nigeria (CBN) has said banks that failed to comply with its payments system rules and regulations will be sanctioned N10,000 per week. The apex bank said operators in the National Payments System who failed to apply for licence in three months before the date of expiration will be penalized. The ...

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