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BUSINESS

10 Largest Banks in Nigeria by Assets

Although the outbreak of the coronavirus was a major setback to Nigeria's economy and that of the world, the Nigerian banking sector witnessed growth. Some of the top banks in the country gained more profits during this period There have been mergers between banks and that has made them stronger. One of them is the merging of Access Bank and Diamond Bank. This has increased the assets owned by Access Bank Banks are most times rated based on their assets and how much those assets cost. Here are a list of the

  1 year ago ago
10 Largest Banks in Nigeria by Assets

ECONOMY-FINANCE

Otedola Takes Over First Bank To Get A Competitive Advantage Against Dangote In The Billionaire Race.

According to reports, billionaire Femi Otedola has purchased the majority of shares in FBN Holdings, the company that owns First Bank of Nigeria Limited. Otedola is said to have taken over the bank by purchasing 30 billion worth of shares, making him the bank's single largest stakeholder.

  3 months ago ago
Otedola Takes Over First Bank To Get A Competitive Advantage Against Dangote In The Billionaire Race.

POLITICS

Biggest News In Nigeria This Evening, Thursday 30th July, 2020

The Nation Newspaper  ‘Pardoned insurgents returning to terrorism’  Three suspects lynched in Oyo bank robbery   Imo APC seeks end to division in party   Fidson’s net profit hits N407.19m   Man beats expectant wife to death   Ikpeazu mourns Onuigbo   Workers’ fear heightens as killings, insecurity escalate   Ex-APC members rejoin party   ‘Governor awaits disgrace on Sept 19’   Union Bank posts N11.3b PBT   Boko Haram attacks Borno Governor’s convoy   Ward councillor, six others

  1 year ago ago
Biggest News In Nigeria This Evening, Thursday 30th July, 2020

ECONOMY-FINANCE

"We are unaware of Femi Otedola’s share acquisitions" – FBN Holdings

The holding company for First Bank of Nigeria Limited has reportedly reacted to media reports that, Mr. Femi Otedola, has acquired a significant shareholding in the company, stating that the company is yet to receive any notification of such acquisitions from the billionaire businessman. According to them, FBN operate in a regulated environment, which requires notification of significant shareholding by shareholders to the company, where shares are held in different vehicles, further to which the company will notify the regulators and the public as appropriate.

  3 months ago ago

ECONOMY-FINANCE

First Bank Refutes Reports Of Otedola Takeover

FBN Holdings Plc denied reports made by online media on Friday that Femi Otedola, a Nigerian billionaire businessman, had purchased a majority share in the bank. The bank has yet to get any communication from the individual mentioned on such acquisition, according to a statement signed by the company secretary, Seye Kosoko, received from Nigerian Exchange Limited (NGX).

  3 months ago ago
First Bank Refutes Reports Of Otedola Takeover

BUSINESS

Meet Current Nigeria's largest bank by Customer Deposit

Deposit Zenith Bank  Media  News   Zenith Bank is now Nigeria's largest bank by Customer Deposit Zenith Bank Plc is now officially Nigeria’s largest bank by Customer Deposit. In its 2018 annual report and first quarter 2019 interim report released by the company, it reported that its total customer deposits are now a whopping N3.396 trillion as at end of March 2018. It was N3.43 trillion as at year-end December 2019. Zenith Bank has thus overtaken First Bank as Nigeria’s largest bank by Customer D

  1 year ago ago
Meet Current Nigeria's largest bank by Customer Deposit

PERSONAL-INVESTING

Honeywell Group Replies CBN on Insider Loan Scandals

News reports have disclosed that Oba Otudeko,the sacked Chairman of the FBN Holdings who was criticised by the CBN of insider loan deals at First Bank,has made his own comments on the issue known publicly through his company.Chairman of the FBN Holdings conveyed his response through his Honeywell Group.

  9 months ago ago
Honeywell Group Replies CBN on Insider Loan Scandals

ECONOMY-FINANCE

Femi Otedola Purchases Majority Interest in First Bank Holdings

Image: Femi Otedola. There are strong indications that Femi Otedola, the founder and chairman of Geregu Energy Group, has acquired the bulk stake in FBN Holdings (FBNH). According to a source who requested anonymity, Femi Otedola is behind a huge takeover of FBN Holdings' shares, which might end in him becoming the company's sole majority shareholder.

  3 months ago ago
Femi Otedola Purchases Majority Interest in First Bank Holdings

ECONOMY-FINANCE

FBN Holdings denies claims by Media that Otedola has majority stake in the Company

The First Bank of Nigeria, (FBN) Holdings Plc on Friday, 22nd, denied claims by online media that a Nigerian Enterpreneur, Femi Otedola has procured majority stake in the bank.  This was contained in a statement signed by Seye Kosoko, The FBN Secretary, obtained from Nigerian Exchange Limited, which states that the bank is yet to receive any notification from the individual mentioned on such procurement.

  3 months ago ago
FBN Holdings denies claims by Media that Otedola has majority stake in the Company

ECONOMY-FINANCE

Investors swoop on shares of FBN Holdings

The shares of FBN Holdings (FBNH) PLC, the parent company of First Bank of NIgeria Limited was the toast of Investors at the close of trading on the floor of The Nigerian Stock Exchange (NSE) as 99,387,274 units of the Tier-1 bank shares valued at N700,499,365.45 changed hands in 265 deals at the close of trading on Thursday December 17, 2020. Despite the lead in both volume and value of transactions it's share price was flat as it closed at N7 per share, the same price at which it closed at the close of trading

  1 year ago ago
Investors swoop on shares of FBN Holdings

BUSINESS

Nigerian Stock Exchange resumes 2020 on positive trend

The Nigerian Stock Exchange resumed trading for 2020 on a positive trend with the benchmark index appreciating by 0.10 per cent following investors’ interest in MTN Nigeria stock. Specifically, the All-Share Index which opened trading for the year on Thursday at 26,842.07 rose by 25.72 points or 0.10 per cent to close at 26,867.78. Also, the market capitalisation inched N12 billion or 0.10 per cent to close higher at N12.970 trillion against N12.958 trillion on Tuesday. Market sentiment, as measured by ma

  2 years ago ago
Nigerian Stock Exchange resumes 2020 on positive trend

BUSINESS

NSE index resumes 2020 with 0.10% growth, amid MTNN gain

The Nigerian Stock Exchange (NSE) resumed trading for 2020 on a positive trend with the benchmark index appreciating by 0.10 per cent following investors’ interest in MTN Nigeria stock. Specifically, the All-Share Index which opened trading for the year on Thursday at 26,842.07 rose by 25.72 points or 0.10 per cent to close at 26,867.78. Also, the market capitalisation inched N12 billion or 0.10 per cent to close higher at N12.970 trillion against N12.958 trillion on Tuesday. Also, New year cheer for stoc

  2 years ago ago
NSE index resumes 2020 with 0.10% growth, amid MTNN gain