$1trn economy: Banks mùst focus on lending, not trading, says Alawuba
Post AMUGE
April 14, 2025
Bamidele Famoofo In a bid for Nigeria to achieve the target of $1trillion economy as declared by President Bola Tinubu, commercial banks must focus on lending to the economy, which is the main reason why they are in existence. Oliver Alawuba, group managing director and chief executive officer, United Bank for Africa Plc, who made […]
UBA expands digital footprint with new PoS solutions, MONI App upgrade for African entrepreneurs
Post AMUGEApril 13, 2025
Onome Amuge United Bank for Africa (UBA) Plc, renowned as Africa’s Global Bank, has unveiled upgrades to its digital payment infrastructure, launching a revamped Point of Sale (POS) terminal and an enhanced UBA MONI App. The move underscores the lender’s ambition to reshape the digital payments landscape across the continent and provide crucial support to […]
Pascal Dozie, champion of Nigerian innovation, economic growth, dies at 85
Post AMUGEApril 8, 2025
Onome Amuge Pascal Gabriel Dozie, a renowned figure in Nigerian banking and a pioneering force in the country’s telecommunications revolution, has died at the age of 85, his family announced. Dozie, who would have turned 86 on Wednesday, April 9th, passed away on Monday, April 8th. In a statement released by his son, Uzoma Dozie, […]
Wema Bank’s stock undervalued on NGX- Analysts
Post AMUGEApril 7, 2025
Bamidele Famoofo An independent Report on Wema Bank PLC’s equity by a Team of Analysts at Global Assets Management Nigeria Limited, has revealed that the Bank’s stock, which currently stands at N10.90 per unit (as at Friday, April 4) on the Nigerian Exchange Limited (NGX), is trading below intrinsic value. An intrinsic value of […]
NDIC to begin liquidation payouts for Heritage Bank’s uninsured depositors in April 2025
Post AMUGEApril 1, 2025
Joy Agwunobi The Nigeria Deposit Insurance Corporation (NDIC) has announced that the first tranche of liquidation dividends for uninsured depositors of the defunct Heritage Bank will be disbursed in April 2025. This follows the revocation of the bank’s license by the Central Bank of Nigeria (CBN) in 2024. In a recent statement, Hawau Gambo, acting […]
GTCO sets new profit record with N1.02trn earnings for 2024 FY
Post AMUGEMarch 28, 2025
Delivers windfall for shareholders with N8.03 total dividend Bamidele Famoofo Segun Agbaje, Group CEO, Guaranty Trust Holding Company Plc Guaranty Trust Holding Company Plc (GTCO) grew profit 88.4 percent year on year in 2024 to N1.02 trillion from N539.65 billion in 2023, representing the highest profit ever reported by the bank in its history. The […]
Zenith Bank’s bottom line booms as net profits jump 52% to N1trn
Post AMUGEMarch 27, 2025
Offers N4 final dividend to shareholders Onome Amuge Adaora Umeoji, group managing director/CEO of Zenith Bank Zenith Bank Plc, has announced exceptional growth across all its key performance indicators for the year ended December 31, 2024, with its net profit soaring 52 percent from N676.909 billion reported in the previous year to N1.033 trillion. According […]
Strong core earnings help UBA to N3.19trn, up 53.6% YoY
Post AMUGEMarch 24, 2025
Offers shareholders N3.00 final dividend Onome Amuge Oliver Alawuba, managing director/chief executive officer, UBA Group United Bank for Africa (UBA) Plc, has released its audited financial results for the full year ended December 31, 2024, revealing solid core earnings that fueled significant improvements across all major indicators, driving growth in profitability and returns. The Tier-1 […]
New ATM tariffs stir anxiety over Nigeria’s economic growth
Post AMUGEFebruary 24, 2025
PoS operators hint on raising service charges Onome Amuge The Central Bank of Nigeria (CBN), recently announced a revision to Automated Teller Machine (ATM) withdrawal fees, effective from March 1 2025. The policy update, according to the apex bank, is part of sustained efforts to reduce the use of physical cash and promote digital transactions. […]
No cause for alarm, CBN tells customers of Keystone Bank
Post AMUGEFebruary 14, 2025
Says depositors funds safe Bamidele Famoofo Following the court order that the shares of Keystone Bank Limited previously held by the shareholders be forfeited to the Federal Government of Nigeria, the Central Bank of Nigeria (CBN) has reassure the public that Keystone Bank Limited remains safe, sound, and fully operational. A statement signed by Hakama […]