On Tuesday, Fidelity bank was backed by the United states’ Global X Management announcing a binding agreement for full acquisition of Union Bank Uk, reported for the period from January …
Banking, Finance & InvestmentBusinessNigeriaWestern Africa
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Western Africa
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NCC raises international calls termination rate to $0.10
Telecommunications companies operating in Nigeria are set to earn more from international calls as the Nigerian Communications Commission (NCC) increases the international termination rate (ITR) to $0.10 from the current $0.045 for voice services. …
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Risevest CEO steps down on allegations of sexual misconduct
Founder and chief executive officer (CEO) of Risevest, a Nigerian stock investment app, Eke Urum, has stepped down due to an ongoing investigation into sexual and non-sexual impropriety allegations against him. …
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Kenyan court freezes more money belonging to Flutterwave
A Kenyan High Court has frozen an additional sum of $3.3 million (Sh400.6 million) belonging to Nigeria’s fintech Unicorn Flutterwave over allegations of money laundering and card fraud. This comes …
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Delta Airline suspends New York to Lagos Flights, effective Oct 4
Delta Airline, United States’ longest serving flight operator in Nigeria has revealed that it will from October 4, 2022, suspend flight operations between JFK airport, New York and Lagos. In …
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Fidelity Bank set to acquire Union Bank UK
Fidelity Bank Plc has entered a binding agreement to acquire a 100 percent equity stake in Union Bank UK Plc. The bank made this known in a corporate filing on …
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CBN records N2.4B diaspora remittances under its Naira 4 dollar scheme
Central Bank of Nigeria (CBN), says Nigeria has recorded $2.4 billion in diaspora remittances under the “Naira 4 Dollar Scheme” in 2022. Director of Trade and Exchange Department CBN, Ozoemena Nnaji …
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Access Corporation acquires First Guarantee Pension
Access Corporation has announced the acquisition of a majority equity stake in First Guarantee Pension Limited. The secretary, Access Corporation, Sunday Ekwochi disclosed this in a corporate filing on Monday. …
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Digital Bank, Moneymie shuts down retail service operations
Digital bank for Africans in the diaspora, Moneymie, has shut down retail service operations. Without stating the reason for this, but a highlight of its transition to cross-border payments and payouts for …
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Japan, AfDB announce $5B financing for Africa’s private sector
The government of Japan and the African Development Bank (AFDB) have announced a $5 billion financial cooperation under the fifth phase of the Enhanced Private Sector Assistance for Africa initiative …