Fidelity Bank Plc on Monday said it had entered into a binding agreement to acquire 100 per cent equity stake in Union Bank UK Plc. In a corporate filing at the Nigerian Exchange Ltd. (NGX) on Tuesday, the bank said the Central Bank of Nigeria (CBN) had issued ‘No Objection’ to its proposed acquisition of the bank, which commenced London operations in 1983. The notice signed by Fidelity Bank’s Company Secretary, Ezinwa Unuigboje, said the transaction was still subject to the approval of the Prudential Regulatory Authority of the United Kingdom. The bank said the acquisition was part of its…
Author: Newsdesk
The Director of Trade and Exchange Department, Central Bank of Nigeria (CBN), Dr Ozoemena Nnaji says there is urgent need to diversify the Nigerian economy to spur growth. Nnaji made the call on Saturday, at the 33rd Seminar for Finance Correspondents and Business Editors in Abuja.She said that the status of Nigeria as a mono-product economy had been detrimental to economic growth. She described a mono-product economy as one that depends on a single product or resource for economic growth and development. She said that the concept could further be referred to a case where a country depended on a single…
Some residents of Northwest have rejected the idea of granting amnesty to bandits and terrorist, saying such action was akin to ‘robbing Peter to favour Paul’. In their responses to a survey conducted by NAN, most of them said such ‘gesture’ to bandits, most of whom had killed innocent souls, was a grave injustice to their victims. Besides, they argued that there was no guarantee that the beneficiaries of the amnesty, most of whom are hardened criminals, would repent genuinely and shun their evil acts. The respondents cited some cases in Northwest states where hardened ‘repentant’ criminals returned to the…
The background; The fact-check; The verdict: Outcome of a team-based investigation By Kemi Kasumu “Overall, it does appear that the directive of the Ondo State Government will now compel the Deji of Akure, his chiefs, and supporters to obey their own ancient practices and traditions going forward. It is therefore an irony, that it is indeed the government that is protecting traditions! The attempt to instigate the people against the governor is therefore premised on untruths, the fact-check showed.” The Oyemekun Development Initiative (ODI) and other supporters of the Deji of Akure recently accused the governor of Ondo State, Oluwarotimi…
President Muhammadu Buhari has signed into law the bill establishing the Counselling Practitioners Council of Nigeria and seven other bills. This is contained in a statement by Mr Nasir Illa, the Senior Special Assistant to the President on National Assembly Matters (House of Representatives) on Monday in Abuja. Illa said that the council was saddled with the responsibility of advancing the study, training and practice of counselling profession. He said that the standard of knowledge and skill to be attained by persons seeking to become registered members of the counselling profession was stated by the new law. He said the…
Amaka, one of the housemates in the ongoing television reality show, Big Brother Naija, Season 7, has been evicted from the show. This came after Biggie, the coordinator of the show introduced a new eviction twist to the game. Biggie had asked all the housemates to nominate two fellow contestants for immediate eviction and Amaka got the highest nominations. Biggie announced the eviction to the housemates at the lounge, following their nominations. Amaka left the house leaving some of her fellow housemates emotional, most especially, Phyna wept uncontrollably. After Amaka’s eviction, Biggie announced that all the housemates were up for…
Kano state government has set up a technical committee to expeditiously look into the prevailing incidents of flooding occasioned by the intermittent heavy downpours recorded in the state in the last few days. The state commissioner for information, Muhammad Garba disclosed this in a statement obtained by ASHENEWS on Monday. “Government is worried about the occurrence of the floods which have wrecked havoc on the metropolitan area. “The committee has been saddled with the task of studying the metropolitan roads, drainage and culverts in the state of disrepair, with a view to rehabilitating them and the reconstruction of new others…
Shortly after his resignation from the membership of the Academic Staff Union of Universities (ASUU) on Monday, Prof. Mohammed Aliyu Paiko has proposed the creation of another association to be charged with the administration of state universities. Paiko, who is of the Department of Biochemistry and Biotechnology at the Ibrahim Badamasi Babangida University Lapai (IBBUL), tendered his resignation earlier today. In alternative to ASUU, he proposed the creation of “Academic Staff Union of State Universities (ASUSU). Read his reasons below: 1. Each State University should take up their local issues with their Council and Visitor. 2. National Body of ASUSU…
The Kano state chapter of the African Democratic Congress (ADC) has distanced itself from ongoing plot to destabilise the party by sponsored agents of the ADC Presidential Candidate, Dumebi Kachikwu. Kachikwu, believed to be uncomfortable with national leadership if the paarty, has last week openly arranged for the dissolution of the National Working Committee of the party using few state chairmen. The plot was aborted and the NWC led by Chief Ralph Nwosu survived the onslaught when a majority of the members of the National Executive Council voted in favour of extension of tenure for the NWC in the presence…
The Police command in Lagos State on Monday, confirmed the killing of one Sulaimon Onaolapo, popularly known as Akiru, who was the leader of Mile-12 Lagos Parks and Garages. The command’s spokesperson, SP Benjamin Hundeyin confirmed the killing on Monday. “One Alhaji Sule was killed following the incident at Mile 12. No arrest made yet. Normalcy returned. Police officers are on ground to prevent reprisals,” he said. There was pandemonium at the Mile-12 area in Kosofe local government area of Lagos state, following the killing of a member of the parks and garages, Mr Sulaimon Onaolapo. His lifeless body was seen on…