Yemisi Izuora Stanbic IBTC Holdings Plc, has advanced it’s digital payment initiative with unveiling of its wholly-owned financial technology subsidiary, the Stanbic IBTC Financial Services Limited. The firm which has commenced operations has received all required regulatory approvals and licenses. It will function primarily as a Payment Solutions Provider (PSP), focusing on developing innovative technology solutions to enhance Stanbic IBTC’s existing financial services offerings. The launch of Stanbic IBTC Financial Services Limited marks an important milestone for Stanbic IBTC as the company seeks to remain at the forefront of the rapidly evolving financial services industry. The subsidiary will leverage cutting-edge technology…
Author: Orientalnews Staff
Yemisi Izuora Despite challenging macroeconomic conditions, Zenith Bank Group achieved a 24 per cent growth in gross earnings, from NGN765.6 billion in the previous year to NGN945.5 billion in 2022. This was driven by a 26 per cent YoY growth in interest income and a 23 per cent YoY growth in non-interest income. Customer deposits grew by 39 per cent reflecting the bank’s market leadership and customers’ trust. Net-Interest-Margin (NIM) increased from 6.7 per cent to 7.2 per cent, positively impacted by the elevated yield environment. Operating expenses grew by 17 per cent YoY, though still below the inflation rate.…
Yemisi Izuora The Center For The Promotion Of Private Enterprise, CPPE, has reacted to some tax and import duty provisions in the 2023 Fiscal Policy Measures of the Federal Government saying that it would significantly hurt the economy and worsen the de-industrialization worries in the Nigerian economy. The Chief Executive Officer, CEO, of the Center, Dr. Muda Yusuf, after appraising the policy, in a document shared with Oriental News Nigeria, said, construction and transportation sectors are also vulnerable to fiscal policy induced downside risks. Some of the measures, he warned could exacerbate inflationary pressures which are detrimental to economic…
Richard Ginika Izuora Eko Electricity Distribution Company (EKEDC) has been highly rated among notable brands in Nigeria by LinkedIn, American professional social networking platform. This follows the firm’s steady growth into becoming a great place to work. Through deliberate and intentional efforts embodied by policies and system optimization, it is attracting and retaining great talents, while seeing new levels of performance output. It’s been one great success story in elevating a workplace for sustained optimum performance! EKEDC has witnessed some marked changes in staff remuneration and incentivization, as well as training and capacity development. The strategy has been to…
Yemisi Izuora The Organization of Petroleum Exporting Countries, OPEC oil output fell in April largely due to a halt in some of Iraq’s exports and delays to Nigerian shipments. The Organization also recorded strong adherence by top producers to a supply cut deal by the wider OPEC+ alliance, Reuters survey found on Tuesday. The OPEC, pumped 28.62 million barrels per day (bpd) last month, the survey found, down 190,000 bpd from March, showing more than 1 million bpd drop from September. The second-biggest drop of 100,000 bpd came from Nigeria, where Exxon declared force majeure on liftings at its…
………as Defendant is Absent at Arraignment By Admin Following the failure of Michael Ukiye Diongoli and UK Dion Investment Limited to appear in court, the prosecution has applied to Justice Zainab Abubakar to issue a criminal summon to ensure the accused appears in court on June 19th for commencement of trial. When the matter came up for arraignment Tuesday, the defendant was not available in court prompting the representative of the Attorney Generals’ office, Mr. Moshood Adeyemi to request a new date as well as a criminal summon. In the two count charge brought against Michael Ukiye Diongoli, UK Dion Group…
By Philip Odiakose In recent years, influencer marketing has become a crucial part of many brands’ marketing strategies. The power of social media and the rise of influencers have given brands the opportunity to reach a wider audience, increase brand awareness, and drive sales. However, with this increased visibility comes a need for brands to monitor their influencers and ensure that their brand message is being communicated effectively. Influencer media monitoring involves tracking and analyzing the content that influencers are creating and sharing across media platforms, blogs, social media, and other online channels. By monitoring the content that influencers are…
Valentine Okafor The Managing Director, Global Process & Pipeline Services (GPPS) Limited, Engr. Obi Uzu, has said that the Pipeline Tool Award the company received at the just concluded Nigeria International Energy Summit (N.I.E.S 2023) is a recognition for the huge investments the firm made over the years. “We have forged enduring partnerships and made enormous investments in our bid to become the reference point for indigenous capacity for process and pipeline services in the country and we are happy that the industry has taken note of our genuine efforts”, said Obi Uzu on the sidelines of the annual…
Valentine Okafor The Africa Prudential Plc, has posted gross earnings of N4.1 billion in 2022 financial year against N3.5 billion in the comparative period of 2021. Mrs Eniola Fadayomi, the Chairman of the company, said the feat was achieved in spite of the challenging operating environment in 2022. Fadayomi said the company also recorded a Profit Before Tax PBT, of N2.1 billion during the review period against N2 billion in 2021. She said that the figure represented a year-on-year increase of eight per cent compared to the previous year. The chairman said notwithstanding the Central Bank of Nigeria projection…
Yemisi Izuora The Guaranty Trust Holding Company Plc (GTCO or the Group) has released its Unaudited Consolidated and Separate Financial Statements for the period ended March 31, 2023, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE). The Group reported profit before tax of ₦74.1billion, representing an increase of 36.5 per cent over ₦54.3billion recorded in the corresponding period ended March 2022. The Group’s loan book (net) dipped by 1.5 per cent from ₦1.88trillion recorded as at December 2022 to ₦1.86trillion in March 2023, while deposit liabilities increased by 9.9 per cent from ₦4.61trillion in December…