Fitch Ratings yesterday affirmed the Long-term Issuer Default Ratings (IDR) of Zenith Bank Plc , First Bank, United Bank for Africa Plc, Guaranty Trust Bank Plc , Access Bank Plc, Diamond Bank Plc, Fidelity Bank Plc and the Long-term National Ratings of Stanbic IBTC Bank Plc. The agency has also downgraded Union Bank Plc’s Long-term IDR due to a change in Fitch’s opinion of the bank’s systemic importance relative to peers. Union’s Support Rating Floor (SRF) has been revised to ‘B’ from ‘B+’ due to its perceived lower systemic importance post restructuring. As a consequence, the bank’s Long-term IDR has…
Author: tech
With the start of the sacred month of Ramadan, Michelle and I extend our best wishes to Muslim communities here in the United States and around the world. For the world’s 1.5 billion Muslims, Ramadan is a time for thoughtful reflection, fasting and devotion. It is also an opportunity for family and friends to come together and celebrate the principles that bind people of different faiths – a commitment to peace, justice, equality and compassion towards our fellow human beings. These bonds are far stronger than the differences that too often drive us apart. This month also reminds us that…
Citing improved security and up-coming month of Ramadan, authorities at the Nigerian Army 23Armoured Brigade, Yola, have announced relaxation of curfew imposed on Adamawa state. Adamawa is one of the three states where emergency rule is in being enforced. President Goodluck Jonathan had in May declared state of emergency in Borno, Yobe and Adamawa states following escalation of attacks by the dreaded Islamist sect, Boko Haram in the north. The Brigade’s Public Relations Officer, Lieutenant Ja’afar Nuhu, said the 8:00 p.m. to 5:00 a.m. curfew had been reviewed to 11:00 p.m. to 5:00 a.m. “In view of improved security situation…
In its bid to ensure safety of customer deposits and security in Internet banking, First Bank of Nigeria Limited has signed a G-secure Authentication Platform agreement with Clydestone Nigeria Limited to drive second level authentication on Card-Not-Present transactions. This initiative is in line with global practices and also compliant with the mandate of the Central Bank of Nigeria (CBN) that all banks should ensure integration of payer authentication is guaranteed on a 3-D secure platform. According to FirstBank’s spokesperson, Mrs. Folake Ani-Mumuney the agreement has further improved the Bank’s fraud prevention platform with robust security protocols and enables customers enjoy…
The Presidency on Monday rose in defence of President Goodluck Jonathan’s five-day state visit to China, debunking the insinuations that it is a mere ‘junket’. Presidential spokesman, Reuben Abati told State House correspondents shortly before his Principal left the country that the trip, which has 13 ministers on board is very strategic to national interest. He also used the opportunity to deny report in some quarters that the President is visiting China to spite United States President Barrack Obama who recently avoided Nigeria during his recent visit to some African countries. Abati insisted it is in Nigeria’s strategic interest to…
The Federal Government on Monday claimed it has recorded over N80 billion private sector driven investments in the agriculture sector in the last one year. President Goodluck Jonathan disclosed this at the opening of a two-day summit by Rockefeller Foundation in Abuja. The theme of the summit is: “Realizing the Potential of African Agriculture”. The summit, which is part of the centennial (100 years) celebration of the Foundation, is being attended by the Prime Minister of Togo, Kwesi Ahoomey-Zunu and Ministers of Finance and Agriculture from 21 African countries, including Nigeria’s Ngozi Okonjo-Iweala and Akinwumi Adesina, Ministers of Finance and…
KANO – The Federal Government has announced signing of ceasefire deal with Jama’atu Ahlul Sunnah Lidda’awati wal Jihad, popularly known as Boko Haram. The major breakthrough is coming on the eve of the Muslim Holy month due to commence Tuesday throughout the country. The minister of Special Duties, Alhaji Tanimu Turaki announced the ceasefire agreement on Radio France International Hausa services monitored in Kano Monday afternoon. Details soon (Vanguard)
The Joint Admission and Matriculation Board (JAMB) is to fast-track the building of Computer based testing centres across the country as part of measures to smoothen and erase bottlenecks in the conduct of examinations into tertiary institutions before the end of the year. This is to erase the problems of logistics, curb examination malpractices and other shortcomings associated with the previous arrangement. One of the new centers is to be built in Otukpo, Benue State to complement the one already constructed in Makurdi, to cater for the North Central zone. Senate President Senator David Mark announced at…
As serious underground alignments and campaigns have begun for the 2015 general elections which is clearly over two years away, one major point of discussion is on how best to carry all segments of the Nigerian society into consideration and give every one of them a sense of belonging in the project Nigeria. A salient component of the public conversations is the place of the Igbo speaking nationality in the 2015 elections given that the ethnic nationality is the only one among the tripod of Yoruba, Igbo and Hausa that has never produced executive President of the Federal Republic of Nigeria right…
Former Minister of the Federal Capital Territory (FCT), Nasir El-Rufai is not comfortable with the proposed six-year single term for the President and Governors, saying it is not feasible. According to him, no clear difference between single tenure and the two terms of four years, saying since we are operating the United States-styled presidential system, we should not deviate. El-Rufai who is now the Deputy national secretary of the newly former All Progressive Congress (APC) spoke in Kaduna on Sunday at an event organised by the Movement for Better Future. His words, “I do not think six-year single…