Udo Onyeka

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Can First Bank Sustain its Position?

At FirstBank we believe in continuous implementation of strategies that will enable us sustain our number one position in the industry and we have consistently achieved this over the past 117 years. In fact, after a century of landmark operations, the Bank flagged off the “Century II” business transformation project in 1996. The goal was to reposition the brand to align with constantly changing features of the Marketplace.

Expert Stresses Importance of NPA to Economic Devt

Mr. Omar Suleiman, managing director,Nigeria Ports Authority(NPA), has emphasized the important role the NPA is playing in the development process of the nation, saying that any economic policy in the Country which does not take appropriate congnisance of its vital role is incomplete.

CBN to Sanction Banks over Infrastructure Collapse


(L-R) Mr. Thabo Mabe, MD/CEO Unilever Nigeria Plc, discussing with Mr. Sudarshan Kasturi, ED, at the company's 86th annual general meeting in Lagos.
THE Central Bank of Nigeria (CBN) may sanction some banks that have been giving epileptic services to their customers due to poor IT infrastructure. In the last three months, the frequency of collapse experienced by the telecommunication infrastructure of most banks has been a source of worry to many customers who have been disappointed by their banks on several occasions.

CIBN Axe Dangles on Bankers


(L-R) Mr Emmanuel Ikazoboh, interim administrator, Nigerian Stock Exchange and Ms Arunma Oteh, DG, Sec at the official opening of the NSE contact centre in Lagos.
There are strong indications that the Chartered Institute of Bankers of Nigeria (CIBN), an institute empowered by law to ensure the furtherance, maintenance and observance of ethical standards and professionalism among practitioners of the banking profession may sanction some top managers of banks.

No Buyers for Spring Bank, Finbank


(L-R) Dr. Oscar Odiboh, managing consultant, Afribaby and Mrs. Olayinka Odiboh, coordinator, Afribaby, at the opening ceremony of the first African international baby exhibition in Lagos recently.
There are strong indications that Spring Bank Plc and Finbank Plc may have been sidelined by core investors who did not find their books to be impressive, competent banking sources have revealed.

Union Bank Loses N1billion to Labour Crisis

Union Bank of Nigeria Plc may have lost as much as N1 billion in the one week its face-off with the Nigeria Labour Congress (NLC) lasted. BusinessWorld Intelligence can reveal that the daily net revenue of the bank after each working day is about N100 million not including other earnings that form part of a long term income.

Banks May Shut Down ATMs Over CBN Threats


(L-R) Titi Omo-Ettu, president of Association of Telecom Operators of Nigeria, Ogugua Chioke, board member of IXPN, Ernest Ndukwe, former EVC of NCC, Eugene Juwah, EVC of NCC and Chima Onyekwere, chairman of IXPN during an award presentation to Ndukwe recently in Lagos, Nigeria.
The new stringent guidelines set by the Central Bank of Nigeria (CBN) for the operation of Automated Teller Machines (ATMs) by banks may force some banks to shut down some of their ATMS in a bid to reduce operational cost associated with running ATMs.