ZENITH BANK EARNS 5% INCREASE IN GROSS REVENUE, DECLARES N94.18BN DIVIDEND

Zenith Bank has posted a 5 per cent increase in gross earnings in the financial year ended December 31, 2020, to end the period at N696.5 billion from N662.3 billion reported in the previous year. Figures from the bank’s 2020 result, show that profit before tax also increased by 5 per cent from N243.3 billion to N255.9 billion in the current year. The increase came from a combination of growth in the top-line and a significant reduction in interest expense. The bank declared a final dividend of N2.70 for every…

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COURT VINDICATES TECH BILLIONAIRE, LEO STAN EKEH’S COMPANIES IN N170M FIRS CONTRACT FRAUD

An Abuja High Court has vindicated the long-held position of Zinox Technologies Ltd., and TD Africa, two of Nigeria’s leading technology giants, that its Chairman, Leo Stan Ekeh and its staff, Company Secretary, Barr. Chris Eze Ozims and two others, Shade Oyebode and Charles Adigwe respectively, had no wrongdoing in a long-drawn court case involving a N170 million Federal Inland Revenue Service (FIRS) contract. The High Court of the Federal Capital Territory, Jabi, Abuja, on Wednesday discharged and acquitted the duo of Princess Kama Onyeoma and Chief Onny Igbokwe, partners…

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LASACO ASSURANCE SHARES NOT SUSPENDED-MANAGEMENT OPENS UP

The management of Lasaco Assurance Plc, has debunked the rumour making the rounds, that shares of the company has been suspended indefinitely. According to the management, “shares of the Company was placed on suspension by the Exchange from Monday 1st February, 2021 to Friday, 19th February, 2021 to allow a Share Reconstruction exercise to be performed.  The management in the statement informed that following a successful conclusion of the Share Reconstruction exercise, shares of the Company has since resumed trading on Monday, 22nd February, 2021. Read full text of the…

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ACCESS BANK COMMENCES ACCELERATOR PROGRAM, TO EMPOWER STARTUPS THROUGH AFRICA FINTECH FOUNDRY (AFF)

The Africa FinTech Foundry (AFF), an initiative of Access Bank Plc has commenced its accelerator programs. The initiative is set to empower emerging startups, with mentorship programs, advisory and has committed N10 million in cash to the top three finalists. The accelerator program which opened its entries last month, received 306 registration sand after rigorous assessments was later shortlisted to 30 participants. These finalists   were   further screened   by   the  Head   of  the  Africa   Fintech  Foundry,   Mr.Daniel Awe; Group Head, Emerging Businesses, Access Bank, Mrs. Ayodele Olojede; and Vice President, Investments…

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EX MINISTER, DEMOLA SERIKI SETTLES AMCON DEBT

Following series of negotiations and eventual restructuring of his huge indebtedness by Asset Management Corporation of Nigeria (AMCON), former Minister of State for Defence and former Supervising Minister for Mines and Steel Development and current Nigeria Ambassador designate to Spain, Ademola Seriki, has fully settled his obligation with the Corporation and collected his letter of non-indebtedness. Head, Corporate Communications AMCON, Jude Nwauzor who confirmed this development, said the former minister negotiated with the Corporation and both parties eventually reached a settlement term, which has also been fulfilled. “So, having met…

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