WEMA BANK concludes 1st tranche of Capital Raise Programme.
WEMA BANK concludes 1st tranche of Capital Raise Programme. 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 i…
Why We Must Protect Nigeria’s Democracy, Obasa, Fashola, Foreign Diplomats Speak
Why We Must Protect Nigeria’s Democracy, Obasa, Fashola, Foreign Diplomats Speak Despite its challenges, democracy in Nigeria must be protected by every citizen, speakers at an event to commemorate the country’s 25 years of unbroken democratic governance organised by the Lagos State House of Assembly have warned. Speaker of the House, Rt. Hon. Mudashiru Obasa, former governor of Lagos, Mr. Babatunde Fashola, foreign diplomats, and business experts argued on Wednesday evening that democracy has benefitted the Nigeria since 1999 when the count…
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$2.4bn of $5.5bn refinery loan repaid, says Dangote
$2.4bn of $5.5bn refinery loan repaid, says Dangote The founder of Dangote Group, Aliko Dangote, has revealed that he has paid off $2.4bn of the $5.5bn loan for his $19bn Lagos-based refinery. The Africa’s richest man also alleged that powerful oil cartels tried to undermine his refinery project. Speaking at the Afreximbank Annual Meetings in Nassau, The Bahamas, on Wednesday, Dangote said his 650,000-barrel-per-day refinery will act as Nigeria’s strategic reserve, as reported by This Day Newspaper. “We borrowed the money based on our own ba…
Who is afraid of Fidelity Bank?
Who is afraid of Fidelity Bank? 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 it…
Adron Homes Sponsors Ojude Oba, Unveils Plans to Excite
Adron Homes Sponsors Ojude Oba, Unveils Plans to Excite Customers with Massive Prize Slash 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 Adr…
Bigi-Sponsored Nigerian Idol Bids Farewell to Jennifer After Powerful Performance
Bigi-Sponsored Nigerian Idol Bids Farewell to Jennifer After Powerful Performance A beloved contestant, Jennifer, known for her powerful vocals, left the Bigi-sponsored Nigerian Idol stage with a bang on Sunday night. Despite captivating the judges with her rendition of Andra Day's "Rise Up" during the first live show, Jennifer's journey ended due to receiving the lowest number of viewer votes. However, she didn't go down without a fight. After host IK announced her departure, Jennifer belted out a powerful rendition of A…
Adron Homes pens poem to commemorate Democracy Day
Adron Homes pens poem to commemorate Democracy Day Adron Homes pens poem to commemorate Democracy Day Adron Homes, a trailblazing force in Nigeria’s real estate landscape, unveils a poignant ode to mark the occasion of Nigeria’s Democracy Day. Also read: Adron Homes chairman announces Ojude Oba sponsorship, pays homage to Awujale In a stirring tribute to the nation’s spirit of unity and aspiration, Adron Homes celebrates the cherished values that bind Nigerians together as one. In the heart of our nation, where dreams take flight. Adron Home…
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