Connect with us

Business

UNION BANK OF NIGERIA COMPLETES SHAREHOLDING TAKEOVER, DELISTS FROM STOCK EXCHANGE

Published

on

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

In May, 2023, Union Bank received an offer from its core shareholder, Titan Trust Bank Limited, to acquire the shares of all minority shareholders in Union Bank after the completion of core investors’ sale of a majority shareholding to Titan Trust Bank Limited, a subsidiary of TGI Group.

The acquisition of the minority shareholding has led to the application to delist Union Bank of Nigeria Plc from the Nigeria Stock Market.

This development was implemented by way of a scheme of arrangement between the bank and the bank’s shareholders (the minority shareholders), by Section 715 of the Companies and Allied Matters Act 2020 (as amended).


Union Bank of Nigeria has notified all esteemed stakeholders that the Bank is finalizing the process of obtaining approval to delist the Bank’s shares from NGX, upon which shareholders of the Bank will receive a Scheme Consideration of N7.70 per share.


Commenting on this development, Mudassir Amray, CEO of Union Bank of Nigeria said: “This move is an effort to attract larger private investments to reconsolidate our position as one of the top pioneer Banks in Nigeria.

We remain committed to deliver value to our customers, employees and shareholders through superior solutions. We appreciate the support of the Central Bank of Nigeria, Securities Exchange Commission, Nigerian Exchange Group (NGX) and every other agency and parastatal that were instrumental to achieving this.”


About Union Bank of Nigeria
Union Bank of Nigeria (“UBN”) was established in 1917 and is one of Nigeria’s long-standing and most respected financial institutions, offering a portfolio of banking services to individuals, Small and Medium-sized Enterprises (SMEs), commercial and corporate clients.
 With a robust geographical network comprising more than 300 service centres and over 950+ ATMs spread across Nigeria, we have remained committed to helping individuals, families and businesses grow for over a century.


We are committed to being widely recognised as Nigeria’s most reliable and trusted banking partner. Our ambition is hinged on successfully delivering against six strategic pillars including the quality of our customer experience, client base, talent, banking platform, professional standards and earnings.

Continue Reading

Business

Abbey Mortgage Bank Host Sustainability Workshop with Non-Profit Stakeholders in Abuja

Published

on

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H


Geared towards boosting impactful investment opportunities for Non-profit organizations, a leading primary mortgage Bank in Nigeria, Abbey Mortgage Bank has organized a sustainable workshop for stakeholders of non-profit organizations to enhance financial sustainability and drive positive change within the civil society sector.


The event which was Tagged “Financial Management: A Sustainability Tool for Non-Profit Organizations” held on Wednesday 29th November 2023 in Abuja, is aimed at creating impactful investment opportunities to aid sustainability efforts in line with SDG 17 which supports the implementation and revitalization of Global Partnership for sustainable development in the civil society.


The workshop was attended by prominent guests including Jubril Shittu, CEO of PPDC; Dr. Ayodotun Olutola, CEO of CCCRN; Hamza Lawal, CEO of CODE; and Gideon Olanrewaju, CEO of AREAi among other guests.


Speaking at the event, The Group Head, Non-Profit Organizations at Abbey Mortgage Bank, Bukola Ewedairo, noted that, “Abbey Mortgage Bank is rightfully positioned to partner with institutions in the civil society by creating opportunities for long-term sustainable investment.  


“We believe that Non-profit organizations need to be strengthened to achieve their mission and this workshop was our way of collaborating to ensure that they can thrive especially with the volatilities in our local economy.” She stated.

 
Also speaking at the event, the Managing Director of Abbey Mortgage Bank and a key speaker at the event, Mobolaji Adewumi, noted that, ” At Abbey, we are creating an ecosystem where non-profits can flourish, contribute meaningfully to society and drive sustainable change.  


Adewumi further noted that “We are committed to helping individuals build wealth and attain financial empowerment and we are proud to collaborate with these distinguished leaders to make a lasting impact by supporting financial growth and empowerment” He stated.

 
The workshop had informative and interactive discussions, providing a forum for participants to share insights and explore collaborative opportunities.

Attendees engaged in dynamic conversations, delving into strategies to enhance financial sustainability and drive positive change within the civil society sector.


Abbey Mortgage Bank reaffirms its commitment to fostering continued partnerships with NGOs, furthering its impact on the non-profit sector. The bank looks forward to ongoing collaboration, contributing to the achievement of sustainable development goals in Nigeria.

About Us
Abbey Mortgage Bank Plc is one of the seven national Primary Mortgage Banks (PMB) licensed by the Central Bank of Nigeria and the Federal Mortgage Bank of Nigeria (FMBN). Last year, Abbey got a double investment grade rating from two prestigious rating companies, Agusto & Co. and DataPro. This credit rating enhances our reputation, validates our risk practices, and provides us access to capital and increased liquidity for our business. Our banking services range across personal savings, business banking, investments, cash management specialized.

Continue Reading

Business

ZENITH BANK SIGNS MOU WITH CFA INSTITUTE TO BOOST FINANCIAL EXPERTISE

Published

on

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Zenith Bank Plc has signed a Memorandum of Understanding (MoU) with the Chartered Financial Analyst (CFA) Institute to promote efforts and activities that support the formation, training, and updating of human capital in finance and investment for the overall development of the Nigerian financial services sector.

The MoU, was signed by the Group Managing Director/CEO of Zenith Bank Plc, Dr. Ebenezer Onyeagwu; the President/CEO of the CFA Institute, Margaret Franklin; and the President of CFA Society Nigeria, Ibukun Oyedeji on Tuesday, November 28, 2023.


Speaking at the MoU signing ceremony, the Group Managing Director/CEO of Zenith Bank Plc, Dr. Ebenezer Onyeagwu commended the CFA Institute and the CFA Society, Nigeria for their laudable programmes in developing finance and investment professionals in Nigeria.

According to him, your Women in Investment Management Initiative, CFA Institute Research Challenge, CFA Society Nigeria Ethics Challenge and University Affiliation Program are very laudable, and Zenith Bank will continue to partner with the CFA Institute and the CFA Society Nigeria to ensure that young finance and investment professionals get the needed support for their career development.

In his words, “As a good corporate citizen, Zenith Bank remains committed to furthering the economic, cultural and social development of the society.

As such, we continue to support projects and initiatives that have long-term social and economic benefits for our various publics and stakeholders. Partnering with the CFA Institute and the CFA Society Nigeria is therefore a demonstration of our commitment to building professional excellence in the finance services industry in Nigeria”.


At the CFA Institute Africa Investment Conference, during the ‘Journey to the Top: A Discourse with CEOs’ segment, Dr. Onyeagwu inspired future finance and investment professionals to uphold the highest standards of integrity.

He stressed the importance of making difficult yet high-quality decisions, building robust networks, and dedicating themselves to hard work for career success. In his words, “as upcoming professionals, the opportunities are immense for you. Africa doesn’t get bigger than Nigeria.

There is scarcity of the right kind of people that have the talent, that have the character and the leadership to provide leadership in organizations. Make a decision to be one of those, make a decision to be different.

You must be driven by your passion; you must delay gratification. In Zenith what is driving us is the strive for excellence. It is not about who you are and where you come from. We have the best class of talents you can think of anywhere in the world.” He assured the young finance and investment professionals that Zenith Bank will offer immediate employment opportunity to CFA Charter Holders and those who qualify as Chartered Accountants.


Also speaking on the MoU, the President/CEO, CFA Institute, Margaret Franklin reiterated the Institute’s commitment to the professional development of students and upcoming professionals. In her words, “there are many things that we do for students, we invest heavily in students and why is that? Because they are our future.

The mission of the CFA Institute is to lead the investment industry with the highest standards of ethics, education and professional excellence for the ultimate benefit of society and that starts with our CFA programme”. She commended Zenith Bank for its continued support to the CFA Society Nigeria and sponsorship of the CFA Institute Research Challenge over the years. She also commended the bank for being one of the top employers of CFA members in the country.

She expressed her admiration of the culture of excellence in Zenith Bank. Also speaking at the MoU signing ceremony, the President of CFA Society Nigeria, Ibukun Oyedeji commended Zenith Bank for its partnership with CFA Society Nigeria and its commitment to the development of young finance professionals in the country.


The the CFA Institute Africa Investment Conference is being hosted by the CFA Institute and CFA Societies from Ghana, East Africa, South Africa and Mauritius. The conference has representatives from over 20 universities in Nigeria (members of their investment clubs being supported by CFA Society).

Continue Reading

Business

The Alternative Bank Unveils AltBiz and AltInvest at the 44th Kano Trade Fair

Published

on

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

The Alternative Bank has unveiled two of its major financial products at the on-going Kano International Trade Fair namely AltBiz and AltInvest.

This marks a significant step for the bank as it continues to play a pivotal role in shaping the financial landscape especially in the northern region.

Whilst AltBiz caters to the financial needs of businesses, offering a comprehensive suite of services to fuel growth, innovation, and sustainability; Altinvest, a digital investment platform empowers individuals to navigate seamlessly the investment world, blending ethical and digital features for increased accessibility.

The products were unveiled to the public at The Alternative Bank Day, which was a day dedicated to the bank as a major sponsor of the trade fair.  

Executive Director at The Alternative Bank, Garba Mohammed remarked, “The Kano International Trade Fair is a vibrant platform, and we are thrilled to introduce AltBiz and AltInvest as innovative solutions that underscore our commitment to fostering economic growth and financial inclusivity. These products align with our vision of providing accessible and tailored financial services to both businesses and individuals in this region.”

The event which took place at the spectacular booth of bank witnessed a large turn out of visitors who wanted to open accounts or make enquiries about the new products. 

The Alternative Bank has continually reaffirmed its dedication to supporting entrepreneurship, fostering economic development, and providing financial solutions that cater to the evolving needs of the Nigerian market.

The bank officially entered the market in October 2023, with a one-of-its-kind multi-city launch, marking the beginning of a new era in banking that combines innovation and accessibility to customer satisfaction. 

The Alternative Bank is set to foster financial freedom across Africa with pioneering digital solutions and ethical, non-interest banking principles. The bank empowers individuals and businesses to prosper by offering seamless and customer-centric solutions that transcend traditional financial boundaries.

Continue Reading

Trending

Copyright © 2021 All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from August24news.com
This Website is designed and Managed by: August 24 Communications Nigerian Limited (RC: 798585)