Commends CBN’s Global Recognition THE Association of Corporate Affairs Managers of Banks (ACAMB) has commended the Nigerian banking industry for its strength, capacity and resilience following its enviable compliance ahead of the March 31 recapitalisation deadline. With over 96% compliance, the association applauded the disciplined execution of the exercise by all financial institutions and extended special praise to the Central Bank of Nigeria (CBN) for its regulatory oversight. It will be recalled that In March 2024, the CBN released a circular on review of minimum capital requirement for commercial, merchant and non-interest banks. The apex bank increased the new minimum…
Author: Abimbola Daniels
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THE Lagos State chapter of the All Progressives Congress (APC) has debunked allegations that its delegates were stranded while travelling for the party’s national convention in Abuja, insisting that all logistics were properly handled. In a statement sent to News Point Nigeria on Saturday, the Lagos APC spokesman, Hon. Seye Oladejo, described a report by Sahara Reporters as inaccurate and sensational, maintaining that delegates from the state were neither abandoned nor inconvenienced. According to the party, all accredited delegates from Lagos State were conveyed to Abuja in a “coordinated, orderly, and comfortable manner,” contrary to claims that they were left…
ZENITH Bank Plc has announced the appointment of Kennedy Okwudili as an Executive Director of the bank. News Point Nigeria reports that a corporate disclosure by the bank through the Nigerian Exchange Ltd on Tuesday noted that his appointment takes effect from May 1, 2026. It noted that the appointment aligned with its tradition and succession strategy of grooming leaders from within its system. The bank said the development would further strengthen its executive management team. Okwudili holds a Bachelor of Science (Hons) in Accounting from the University of Maiduguri, obtained in 1998 with a Second Class Upper Division. He…
WITH just days to the March 31, 2026 deadline, Nigeria’s banking sector has recorded a major milestone as 34 banks have successfully met the new minimum capital requirements set by the Central Bank of Nigeria. Findings by News Point Nigeria indicate that the majority of lenders including all major banks with international licences and most national banks have scaled the recapitalisation hurdle, marking one of the most successful exercises in the country’s financial history. A final status report from the apex bank is expected in the coming days, with officials indicating that the process is largely on track for completion…
PRESIDENT Bola Tinubu has congratulated economist, banker and philanthropist, Tony Elumelu, on his 62nd birthday, describing him as an African business icon and a leading advocate of enterprise on the continent. The Chairman of Heirs Holdings, United Bank for Africa and Transcorp, will turn 62 on March 22, 2026. In a statement issued on Saturday, the president commended him, for his resilience, commitment to excellence and unwavering belief in Africapitalism. Tinubu praised the impact of the Tony Elumelu Foundation (TEF), noting its significant role in empowering young Africans through entrepreneurship. He said the foundation’s entrepreneurship programme had trained about 2.5…
PROPERTIES worth millions of naira have been ruined, and two persons were burnt beyond recognition as a gas tanker and a tipper truck collided on the Lekki-Epe Expressway, resulting in a massive explosion on Saturday. A statement sent to News Point Nigeria by the Controller General, Lagos State Fire and Rescue Service, Margaret Adeseye, noted that the accident occurred at 02:36 wee hours of the day. The incident saw Lekki Phase II, Oniru, and Epe II Fire Stations of the Agency rush to the scene after it was reported that an oncoming speeding 20-tonne tipper truck from Epe end, rammed…
AFRICA’ss Global Bank, United Bank for Africa (UBA) Plc, has reiterated its commitment towards building tangible economic bridges and strengthening diaspora-driven investment into Nigeria. UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, stated this on Monday, while hosting key representatives from the Nigerians in Diaspora Commission (NiDCOM) led by its chairman/CEO, Hon. Abike Dabiri, at the bank’s UK office. The strategic visit comes on the heels of UBA’s recently launched Diaspora Banking platform, which is designed to provide a seamless, integrated platform for Africans in the diaspora to bank, invest, and manage their financial obligations back home, thus connecting global…
Meets CBN Capital Requirements, To Open Eight New Branches On 2026 NOVA Bank Limited has announced the appointment of Jude Anele as its Managing Director and Chief Executive Officer, following the approval of the Central Bank of Nigeria. The appointment comes at a pivotal moment in the Bank’s evolution, following its transition from merchant banking to commercial banking and the successful completion of its recapitalisation programme ahead of the March 31, 2026, regulatory deadline. Anele brings more than 33 years of banking experience across West and Central Africa, with deep expertise in retail / commercial banking, corporate banking, risk management,…
ZEDVANCE Finance Limited, a leading provider of consumer and business financing solutions in Nigeria, has disbursed over ₦96 billion in funding to support commercial businesses across the country, establishing its strong positioning beyond retail lending and reinforcing its commitment to bridging the gap between enterprise growth and access to timely financing solutions. Leveraging its 11-year legacy, Zedvance’s Commercial Solutions business, launched in 2025, has in just one year become a major driver of credit expansion, achieving one of the highest loan disbursement rates among financial institutions, empowering thousands of local enterprises and boosting economic growth. The business has consistently supported…
AFRICA’s Global Bank, United Bank for Africa (UBA) Plc, is set to host a special edition of its impactful quarterly UBA Business Series, which be specifically focused on celebrating and empowering the modern woman with the theme: “gen w- ‘The Evolved Woman’. The session, which is scheduled to hold on Wednesday, March 12, 2026 from 11AM at UBA House, Lagos, will bring together an array of accomplished female leaders and professionals who will share insights, experiences and practical strategies for navigating ambition, leadership and growth in today’s dynamic environment. The session will also be streamed live across all UBA digital…
RETAIL petrol prices across Nigeria may soon climb to between N980 and above N1,000 per litre following a fresh increase in the gantry price of Premium Motor Spirit (PMS) by the Dangote Petroleum Refinery. Industry sources confirmed to News Point Nigeria that the refinery has raised its ex-depot price from N774 to N874 per litre, a N100 jump that marketers say will inevitably be transferred to consumers depending on location and logistics costs. The National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Ukadike, told journalists that retail prices could soon approach or exceed the N1,000…
THE Coroner sitting at the Yaba Magistrate Court has adjourned till April 14, 2026, the commencement of the inquiry into the death of 21-month-old Nkanu, son of renowned Nigerian author Chimamanda Ngozi Adichie and Dr. Ivara Esege. News Point Nigeria reports that Magistrate Atinuke Adetunji fixed the date on Wednesday when the matter came up before the court. When the case was called, a Senior Advocate of Nigeria, Kemi Pinheiro, announced appearance for the family, while Adebola Rahman appeared on behalf of the Attorney-General of Lagos State. Cheluchi Onyemelukwe of Health Ethics and Law Consulting represented Atlantis Hospital, while another…
THE Chartered Institute of Bankers of Nigeria (CIBN) has pledged its full support to the Association of Corporate and Marketing Professionals in Banks (ACAMB) following a high-level strategic meeting between the leadership of both bodies. The high profile meeting, which took place on Tuesday at the CIBN Building, Lagos, served as a formal introduction of the new ACAMB Executive Committee to the CIBN leadership and marked the beginning of a renewed collaborative alliance. Leading a delegation of the newly inaugurated ACAMB EXCO and Board of Trustees, the President, Jide Sipe, described the visit as a crucial first step in his…
BANKS have raised N4.05tn in verified and approved capital ahead of the March 31, 2026, recapitalisation deadline set by the Central Bank of Nigeria. News Point Nigeria reports that the CBN Governor, Olayemi Cardoso, disclosed this on Tuesday during the Monetary Policy Committee briefing in Abuja, saying, “As of February 19, 2026, total verified and approved capital raise stands at N4.05tn.” This newspaper observed that this figure was nearly double the N2.4tn reportedly raised as of April 2025. Cardoso said N2.90tn of the amount, representing 71.6 per cent, was mobilised domestically, while N1.15tn, equivalent to 28.33 per cent, came from…
IN a bid to foster accurate public discourse as well as protect the stability of the financial sector, the Association of Corporate and Marketing Professionals in Banks (ACAMB) has stepped in to educate renowned content creator, Unofficial Osas, following his misrepresentation of facts concerning the Central Bank of Nigeria’s (CBN) recapitalisation drive, and subsequent invitation by the Nigerian Police Force. News Point Nigeria reports that the intervention by ACAMB led to the successful retraction of a misleading video regarding the CBN recapitalisation policy, demonstrating the Association’s commitment to its core mandate of public enlightenment. In his official apology video, the…
ROTARIANS, Rotaractors and friends of Rotary across District 9127 are set to roll out the red carpet for the President of Rotary International, Francesco Arezzo, and his spouse, Anna Maria Arezzo-Criscione, as they arrive in Abuja on Tuesday, February 17, for the final leg of their Nigeria-wide tour. News Point Nigeria reports that President Arezzo, who arrived in Lagos on February 13th and has since engaged with Rotary stakeholders in different parts of the country, will fly into Abuja from Port Harcourt to a colourful, carnival-like welcome at the Nnamdi Azikiwe International Airport. In a statement signed by Dr. Max…
AFRICA’s Global Bank, United Bank for Africa (UBA) Plc, has unveiled a diaspora banking and investment platform designed to serve Africans living and working across the world and within the continent. The platform, launched in collaboration with leading ecosystem partners including United Capital, Africa Prudential, UBA Pensions, Afriland Properties, Heirs Insurance Group, and Avon Healthcare Limited — represents a major step in redefining diaspora banking beyond remittances toward structured wealth creation and long-term investment. At the unveiling, which took place at UBA’s global headquarters in Lagos under the theme: “Beyond Banking: Powering the Global African Lifestyle, all the company representatives…
GOVERNOR Siminalayi Fubara of Rivers State has described his calm and non-confrontational approach amid the protracted political turbulence in the oil-rich state as a deliberate and strategic decision aimed at preserving peace and protecting national interest. News Point Nigeria reports that the governor made the remarks on Friday night in Lagos while receiving the Man of the Year 2025 award from New Telegraph at a well-attended ceremony. Addressing guests at the event, Fubara said his perceived weakness should not be mistaken for incapacity, but rather understood as a conscious choice. “I chose for a lot of reasons to be weak.…
AFRICA’s Global Bank, United Bank for Africa (UBA) Plc has launched a new Aggregator Sales Structure for its RedPay POS and Agency Banking Network, as part of efforts targeted towards the advancement of its mission to deepen relationship with its network and most importantly, expand financial inclusion across Nigeria. The newly launched multi benefit structure which offers partners a comprehensive value proposition, was unveiled at the inaugural UBA Aggregator Engagement Session, held at the Bank’s Head Office in Lagos on Tuesday. The session themed, “POS-itive Impact: Connecting Agents, Merchants, and Customers,” served as a collaborative platform to align strategies for…
AN Arik Air Boeing 737-7GL aircraft operating a scheduled domestic flight from Lagos to Port Harcourt experienced an in-flight engine anomaly on Wednesday but landed safely at the Benin Airport following a precautionary diversion. The Nigerian Safety Investigation Bureau (NSIB) confirmed the development in a statement sent to News Point Nigeria by its Director of Public Affairs and Family Assistance, Mrs. Bimbo Olawumi Oladeji. According to the Bureau, the aircraft, registered as 5N-MJF, encountered abnormal engine indications during the cruise phase of the flight. The flight crew reportedly detected the irregular readings and, in line with established aviation safety protocols,…