Fidelity Bank undertakes ₦29.6 billion rights issue, ₦97.5 billion public offer
Fidelity Bank undertakes ₦29.6 billion rights issue, ₦97.5 billion public offer 5 June 2024: Lagos, Nigeria : Fidelity Bank Plc (“Fidelity Bank” or the “Bank”) has concluded all necessary arrangements to raise a total of up to ₦127,100,000,000.00 (One Hundred Twenty-Seven Billion, One Hundred Million Naira) by way of a Rights Issue to existing shareholders and a Public Offer (the “Combined Offer”). The Combined Offer is a part of the Bank’s strategy to increase its share capital base in compliance with the revised minimum capital requiremen…
Stanbic IBTC Announces Nationwide Scholarship Programme for 200 Deserving Students
Stanbic IBTC Announces Nationwide Scholarship Programme for 200 Deserving Students Stanbic IBTC is delighted to announce the launch of its scholarship programme for the 2023/2024 academic year. The initiative is designed to support and invest in the educational development of exceptional Nigerian youths. Through the initiative, scholarships will be awarded to 200 students across the country, thus reaffirming Stanbic IBTC’s commitment to supporting education and providing opportunities for outstanding students to achieve their academic drea…
Depositors Panic Over N40bn Fraud As First Bank Staff, Wife Escape
Depositors Panic Over N40bn Fraud As First Bank Staff, Wife Escape Some depositors of the Olusegun Alebiosu led First Bank of Nigeria Limited are stiff worried about the N40 billion fraud that rocked the bank. They are perturbed that the staggering amount involved in the fraud might affect their deposits, NATIONAL WAVES gathered that some of them have been tropping to the bank to withdraw their money or transfer to another bank. The staff of the old generation bank, Tijani Muiz Adeyinka, who perpetrated the fraud and his wife have escaped ac…
Stanbic IBTC Recognised as Nigeria's Fastest-Growing Brand
Stanbic IBTC Recognised as Nigeria's Fastest-Growing Brand Stanbic IBTC Holdings, a leading end-to-end financial institution in Nigeria and a member of the Standard Bank Group, has achieved a significant milestone by being recognised as the fastest-growing brand in Nigeria. This recognition comes from a comprehensive report by Brand Finance, a renowned London-based brand valuation consultancy. The annual analysis, which covered the period from March 2023 to March 2024, highlighted Stanbic IBTC’s impressive brand value growth. The brand va…
Ecobank Nigeria Announces Third Edition of ‘Adire Lagos Experience’
Ecobank Nigeria Announces Third Edition of ‘Adire Lagos Experience’ Ecobank Nigeria says it has concluded plans to host the third edition of ‘Adire Lagos Experience’. The planned four days exhibition will take place at the ultra-modern Ecobank Pan African Centre (EPAC) on Victoria Island, Lagos, from Thursday, June 14th till Sunday, 17th, 2024. Announcing the program in Lagos, Adeola Ogunyemi, Head, Consumer Banking, said the exhibition will feature authentic Adire fabric displays from over 100 diverse merchants, indigenous cuisine, and Af…
Fidelity Bank outperforms banks, stock market with 507% gain in 5 years
Fidelity Bank outperforms banks, stock market with 507% gain in 5 years Investors in Fidelity Bank Plc have earned more than 507 per cent in capital gains over the past five years, ranking above all other major return benchmarks at the Nigerian stock market and the entire banking sector. Trading reports at the Nigerian stock market for the five-year period between May 31, 2019 and May 31, 2024 showed that Fidelity Bank outperformed all key indices at the stock market. Fidelity Banks share price rose by 507.14 per cent over the period, repre…
Minimum Wage: Strike may end today as Nigerian govt, labour unions reach agreement
NLC Protesters and NLC flagNLC Protesters and NLC flag Minimum Wage: Strike may end today as Nigerian govt, labour unions reach agreement President Bola Tinubu says he is committed to implementing a National Minimum Wage that is higher than the N60,000 offered by the government. The indefinite strike by labour unions may soon end after the unions late Monday reached an agreement with the federal government on a new national minimum wage. The agreement was reached at a meeting convened by the Secretary to the Government of the Federation (SGF…
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