First Bank joins Access, GT Banks adopt IFRS

Two Nigerian banks, First Bank Nigeria Plc and Access Bank on Wednesday adopted… continues here.

WHEN FIRST REGISTRARS REJECTED FIRST BANK’S CONFIRMATION

But for strident protestation, the management of the Securities and Exchange Commission might have insisted on the January 2009 deadline for the dematerialization of share certificates in Nigeria. Some investors believe this is yet a tall dream for both the SEC and investors especially in consideration of the inadequacy of the Registrars.
Because of lack of [...]

SUNDAY AKINTOLA: HOW MUSHIN HOME BOY GREW MULTI-MILLION NAIRA BUSINESSES IN MUSHIN, LAGOS

SUNDAY AKINTOLA is specially proud of beating all the odds as a home boy growing up in the densely populated Mushin area of Lagos State to become a successful owner of business chains that span micro finance and telecommunications. In this interview with GOKE OLUWOLE, and TAI ADEWALE SHOFELA, Chairman of Sovereign Micro Finance [...]

Finally! Arisekola takes control at FirstBank

As published in the Sept. 28, Issue 33. Uploaded by ol’Victor Ojelabi.

Public attention, especially in the investment and banking sectors, have been riveted on Mr. Sanusi Lamido Sanusi, FirstBank Plc’s Executive Director, Risk and Management Control, whose appointment as the Managing Director-designate of FirstBank Plc was announced about two weeks ago.

For insiders of the [...]

BANK MDs TROOP TO FIRST BANK FOR BAIL-OUT…FINANCIAL INSTITUTIONS REJECT SHARES AND PROPERTY AS COLLATERAL

First Bank of Nigeria might have become the unofficial lender of last resort for many banks currently experiencing liquidity problems. A bank is said to experience liquidity crisis when it can not support its short term obligation to its customers by itself. Thus to continue to serve the needs of its customers, the bank may [...]

THEY SAY ADENUGA’S WISH TO SIGN OFF ETB SUFFERS SET BACK

Perhaps some ETB staff that were in the know of the negotiation of the acquisition of the bank by FirstBank were excited at the prospect of changing boss from the authority of Otunba (Dr.) Mike Adenuga to the structured management of FirstBank. Feelers from the bank owned by Adenuga indicated that some staff members were [...]

Obama will be a good president

Away from our beleaguered stock market and the yet roiling global financial markets. At least, a little bit of sanity is returning to the Nigerian stock market though not by way of positive market activities, thankfully, the management of the Nigerian Stock Market has finally discerned the wisdom that informs free market activities by removing [...]

WONDER BANKS DEPOSITORS REFUND…CBN WAITS ON 17 RECEIVING BANKS FOR PAYMENT

The Central Bank of Nigeria has commenced the final processes to refund sums of money deposited by investors in pyramid schemes operating as fund managers that had, since July this year, declared as illegal fund managers by the Investment and Securities Tribunal (IST).
The CBN had in a letter of 15 October, 2008 signed by T.A [...]

IN SEARCH OF A CONSCIENCE FOR THE STOCK MARKET

The nation’s stock market regulatory authorities and the money market counterparts have said for the umpteenth time that Nigerians need not lose sleep over the crisis wracking the membranes of global financial and stock markets. Of course, those that should know have acquiesced to this persuasion, except with the notification of the caveat of a [...]

THEY SAY ADENUGA’S WISH TO SIGN OFF ETB SUFFERS A SET BACK

Perhaps some ETB staff that were in the know of the negotiation of the acquisition of the bank by FirstBank were excited at the prospect of changing boss from the authority of Otunba (Dr.) Mike Adenuga to the structured management of FirstBank. Feelers from the bank owned by Adenuga indicated that some staff members were [...]