February 7, 2025
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Zenith Bank
Money

Zenith Bank restructures workforce, increases salaries, elevates over 4,000 staff

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BY TEMITOPE ADEBAYO Zenith Bank, one of Nigeria’s leading financial institutions, has embarked on a significant restructuring initiative, introducing a substantial salary increase for lower-level employees and streamlining promotion criteria to reward exceptional performance. The restructuring exercise, which included salary adjustments effective January 2025, marks the
PalmPay
Money

We remain a driving force for cashless payments adoption in Nigeria- PalmPay MD

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BY TEMITOPE ADEBAYO The Managing Director, PalmPay Nigeria- one of Africa’s leading fintech platforms, Chika Nwosu has restated the commitment of the company towards the adoption of cashless payments across the country. Nwosu disclosed this during a media roundtable held on Friday, January 17, 2025 at the company’s headquarter in Lagos. Speaking during the interactive […]
Access Bank
Money

Access Holdings lists 17.77bn shares on NGX

Ihesiulo Grace 0
BY TEMITOPE ADEBAYO Access Holdings Plc has listed additional 17.773 billion shares on the Nigerian Exchange Limited. The additional shares arose from Access Holdings rights issue of 17.773 billion ordinary shares of 50 Kobo each at N19.75 per share. Access Holdings in a statement said, “Trading licence holders are hereby notified that additional 17.773 billion […]
bvn
Money

Nigeria’s BVN enrollment hits 64.8m amid push for financial inclusion

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BY TEMITOPE ADEBAYO The enrollment for Bank Verification Numbers (BVN) in Nigeria has reached 64.8 million as of January, according to data from the Nigeria Inter-Bank Settlement System (NIBSS). This reflects an increase of 800,000 registrations in just two months, highlighting ongoing efforts to improve financial security and inclusion. The BVN, a unique identifier issued
Smartphone
Money

Smartphone growth, internet access fuel surge in mobile money services-Palmpay boss

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BY TEMITOPE ADEBAYO Smartphone penetration, improved internet connectivity, and technological advancements have significantly increased access to mobile money services in Nigeria, according to Chika Nwosu, Managing Director of PalmPay. Speaking at an interactive media session at the company’s head office in Ikeja, Lagos, Nwosu highlighted that smartphone penetration is
Taiwo Oyedele
Money

Oyedele assures Nigerians of reforms in budget processing, tax policy

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BY MOTOLANI OSENI Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has assured Nigerians that significant reforms will be introduced in budget processing, the Medium-Term Expenditure Framework, and the Fiscal Strategy Paper in 2025. These reforms aim to support Nigeria’s economic rebasing efforts and strengthen fiscal policies for the
AfDB
Money

AfDB, PowerGen join forces with global investors to expand renewable energy in Africa

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BY MOTOLANI OSENI The African Development Bank (AfDB) and PowerGen Renewable Energy have partnered with global investors to launch a transformative initiative aimed at deploying 120 MW of renewable energy across Africa. The project will integrate advanced battery energy storage systems to enhance energy reliability and efficiency. Key collaborators include the Private
market
Money

Equities market dips by 2.94%, loses N1.45trn W-o-W

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BY TEMITOPE ADEBAYO The Nigerian stock market closed the week on a bearish note, recording declines in three out of five trading sessions. The All-Share Index (ASI) fell by 2.94 per cent Week-on-Week (W-o-W) to settle at 102,353.68 points, while market capitalisation dropped by N1.45 trillion to close at N62.851 trillion. Sectoral performance was largely […]