Thursday, November 19, 2020
Firm to Train Software Engineers, Offers Job Placement
In a bid to boost digital skills in software engineering, Nigerian singer and entrepreneur, Mr. Eazi has concluded a partnership deal with Decagon, organisers of Nigeria’s top software engineering training program, designed to help brilliant young Nigerians actualise their dream of becoming software engineers. Read more
HP to Equip Educators with Digital Tools
HP has launched the HP Innovation and Digital Education Academy (IDEA) in collaboration with Intel and Mirai Partners, an education innovation consultancy. The newly launched programme offers teachers and educators in Nigeria the opportunity to create digital capabilities based on educational frameworks from leading international universities. Read more
Union Bank Posts N119bn Earnings, N16bn Profit in Nine Months
Union Bank of Nigeria Plc has recorded gross earnings of N118.8 billion for the nine months ended September 30, 2020, indicating a six per cent growth from N111.9 billion posted in the corresponding period of 2019. Net interest income before impairment grew by 15 per cent N41.7 billion from N36.4 billion in 2019 driven by increase in earnings assets and lower interest expense. Read more
Nigeria’s oil rigs fall by 30% as exploration drops
The number of active oil rigs in Nigeria declined by 30 per cent in October, with stakeholders lamenting the reduction in exploration activities in the nation’s oil and gas industry. Data obtained by our correspondent from the Organisation of Petroleum Exporting Countries showed that Nigeria’s rig count fell to seven in October from 10 in September. It stood at 21 in March before the COVID-19 pandemic started taking a huge toll on the nation’s oil industry. Read more
UK petrol car ban threatens Nigeria’s oil sales
Except the country finds new buyers, the plan to ban petrol and diesel vehicle sales by the United Kingdom government will threaten Nigeria market share of crude oil. UK imports Nigeria’s crude oil, which is a major revenue earner for the country. Imports from OPEC countries, especially from Algeria and Nigeria, reportedly stood at 22 per cent of the UK’s crude import in 2018. Read more
Nigeria’s oil rigs fall by 30% as exploration drops
The number of active oil rigs in Nigeria declined by 30 per cent in October, with stakeholders lamenting the reduction in exploration activities in the nation’s oil and gas industry. Data obtained by our correspondent from the Organisation of Petroleum Exporting Countries showed that Nigeria’s rig count fell to seven in October from 10 in September. Read more
Reps decry N200bn unclaimed dividends
The House of Representatives has expressed concerns over a projection that unclaimed dividends will hit N200bn or more by the end of 2020. According to the House, this is not a good picture of the state of the capital market and should be a source of concern to watchers. The House Committee on Capital Markets and Institutions recalled how in 1999, unclaimed dividends were valued at N2.09bn; N100bn in 2017; N120bn in 2018; and N158.44bn by end of 2019. Read more
Brokers to drive market penetration with new tools
The Chairman, AfriGlobal Insurance Brokers Limited, Sylverius Okoli has said that technology is key to driving the next phase of growth in the insurance sector. Okoli spoke at a virtual launch of an innovation called ‘AfriCover24/7’, around the clock digital insurance transaction platform conceived to bring insurance practice closer to the people. Read more
GT targets payment, asset management, PFA, others under HoldCo
Having obtained regulatory approval in principle, GT Bank Plc plans to join some of its peers in the banking sector to diversify its financial services under a holding company (HoldCo), which it anticipates would protect it from future headwinds. Under the new structure, the GT said it plans to go into opportunities open in the payment system, asset management, pension fund administration (PFA), and any other area that will enable it to add value to all stakeholders in terms of higher dividend and higher return on investment (RoI). Read more
AMCON confiscates Jimoh Ibrahim’s assets over N69.4billion debt
In continuation of its debt recovery drive, the Asset Management Corporation of Nigeria (AMCON), has taken possession of 12 prime assets belonging to Jimoh Ibrahim, the chief promoter of Global Fleet Oil & Gas Limited, and NICON Investment Limited, in Lagos and Abuja over a staggering indebtedness of nearly N70billion. Read more
Lender deepens retail products, services through digital channels
Pan-African financial services institution, United Bank for Africa (UBA) Plc said it has deepened its retail products and services aimed at delivering services to meet its customers’ needs across Africa. The lender said the services and product offerings, targeting all classes of customers have been specifically tailored to meet the unique needs of individual customers of the bank, in line with its Customer First policy. Read more
