Wema Bank, Nigeria’s foremost innovative bank and pioneer of Africa’s first fully digital bank, ALAT, has successfully concluded the first tranche of its recapitalisation exercise having secured all relevant regulatory approvals for the allotment of its N40bn Rights Issue which was initiated in December 2023. In view of macroeconomic conditions, the Central Bank of Nigeria (CBN) in March 2024, launched a recapitalisation programme requiring commercial banks to raise fresh capital in alignment with the minimum requirement for their respective banking licenses, within a 24-month timeline spanning April 1, 2024, to March 31, 2026. The goal of this recapitalisation programme is…
Author: Oluwatoyin Mathnuel
Nigeria’s 6th largest bank, Fidelity Bank Plc will on Thursday, June 20, 2024 open its public offer and Rights Issue. As part of this capital raising process, Fidelity Bank will same Thursday, June 20, 2024 at the NGX hold a Facts Behind the Offer presentation. According to an article posted on the Businessday website and authored by Iheanyi Nwachukwu, 3.2 billion ordinary shares of 50 kobo each will be offered in the ratio of 1 new ordinary share for every 10 ordinary shares held as of 05 January 2024, at N9.25 per share under the Rights Issue, For the public…
The Lagos Waste Management Authority (LAWMA) has urged residents to properly bag and dispose of their waste, especially animal waste, during and after this year’s Id el Kabir celebrations. Managing Director/CEO of the agency, Dr. Muyiwa Gbadegesin, has noted that comprehensive measures were being implemented to ensure a clean and hygienic environment during the festivities, with service providers working assiduously. He said, “We have put in place a robust system to manage waste effectively during Id el Kabir. Our goal is to ensure that the celebration is enjoyed in a clean and safe environment. We are working tirelessly to ensure…
Few months after kidnappers operations reduced in Nigeria, there has been a renewed operation with the abduction of the Managing Director of a famous electronics distribution company, Fouani Nigeria Limited, along with three Lebanese while travelling by boat in Lagos yesterday. The captives, whose names have not been ascertained, were said to be travelling through the Lagos waters from Apapa to Victoria Island when the kidnappers struck. It was also disclosed that the abductors had reached out, demanding a $1.5m ransom. This is in fulfillment of the prophecy of Primate Elijah Ayodele which he shared in the month of May…
The national body of the Bola Ahmed Tinubu Vanguard (BAT), is calling on all Nigerians to avoid pessimism as the government of Bola Ahmed Tinubu, OFR commemorates one year in office. The BAT Vanguard emphasizes the importance of all Nigerians providing patriotic support towards the President’s Renewed Hope Agenda for the nation’s progress. According to Hon. Sola Olofin, the National Convener of Bola Ahmed Tinubu Vanguard (BAT Vanguard), who led the world press conference in Abuja on Friday, the group highlighted the numerous accomplishments of the current administration. They urged Nigerians to unite with Tinubu’s government during this period and…
Following complaints of house-to-house armed robbery incidents received from residents in Bonsaac, Okwe and other areas in the metropolis, the Commissioner of Police CP Abaniwonda Olufemi deployed a new DPO to ‘B’ division Asaba with a clear mandate to identify, and arrest those responsible. Consequently, on the 8th of June, 2024 at about 0340hrs, the newly posted DPO CSP Edewor Akponegware received credible information from a concerned resident (name withheld) that he cited some suspicious-looking boys around the Mango tree market and that they were armed. The DPO immediately led patrol teams of the division to the scene and in…
A lot of mischief is going on in the banking sub-sector of Nigeria’s financial ecosystem since the Central Bank of Nigeria (CBN), on June 3, 2024, revoked the banking licence of Heritage Bank Plc. The not-so-subtle campaign by some faceless groups to demarket an otherwise solid financial institution like the Fidelity Bank Plc., however, has not escaped the attention of discerning banking publics. But it is a mischief taken too far. In revoking the banking licence of Heritage Bank, the CBN made it clear that its board and management have been unable to improve the bank’s financial performance, a situation…
“I will prefer to be an NSCDC officer, if I had wanted to work in any of the security agencies in Nigeria,” Ewenla says. Ewenla gifts two most punctual officers at the clinic Fifty Thousand Naira ( 50,000 ) only, each for possessing the qualities of excellence required of security personnel in this challenging times. The State Commandant, Nigeria Security and Civil Defence Corps ( NSCDC ), Lagos State Command, Mr Adedotun Keshinro, flagged off the Lagos NSCDC PR MONTHLY CLINIC and June Maiden Edition, yesterday, Thursday, 13th June, 2024, at the command’s headquarters, in Alahusa, Ikeja. The aforementioned clinic…
By Oluwatoyin Mathnuel On June 12, 2024, the Institute of Criminology and Strategic Studies (ICSS) hosted a notable National Security Summit. The event focused on the theme “National Security Agenda: Community Engagement, Law Enforcement, and Technology.” At the gathering were representatives of Nigeria security agencies , experts as well as paramilitaries stakeholders regarding Nigeria security agencies deformity and way forward. Professor Omololu Shoyonbo the lead speaker exclusively dissected the theme and suggested way forward to better policing as well as community engagement in Nigeria by clamouring on use of advance technologies in curbing crime , lack of collaboration between the…
At the World Press conference of the forthcoming 2024 Ojude-Oba Festival in Ijebu-Ode, the management and organizing committee of the annual event has unveiled plans for the smooth running of this year’s edition during the unveiling and announcement of proud sponsor brands which the leading real estate firm; Adron Homes and Properties were part of. At the world press conference, the organizing committee especially hailed the Management of Adron Homes and properties for their constant support and also their sponsorship for this year’s edition to make sure the annual colourful parade is indeed getting the needed support to soar higher.…