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Federal government’s Sukuk bond oversubscribed, receives N132 billion for N100 billion offer
The federal government received over N132 billion subscriptions from 2,073 investors for its N100 billion 7-year 15.74 per cent Sukuk offer, the Debt Management Office (DMO) has said. The DMO, in a statement in…
Yemi Osinbajo hits Warri, Asaba for TraderMoni
Vice President Yemi Osinbajo visited Warri and Asaba on Friday to inaugurate the TraderMoni programme as well as felicitate and enlighten traders on the government’s Enterprise and Empowerment Programme (GEEP).…
$1.1b Malabu oil bribes: Swiss to reveal Nigerian beneficiaries
Materials in a suitcase seized nearly three years ago by Swiss authorities may unlock the identities of the Nigerian recipients of the $1.1billion in corrupt payments by Shell and ENI over the purchase of OPL 245…
Diamond Bank to write off non-performing loans before merger – Wigwe
Herbert Wigwe, group managing director of Access Bank Plc, says Diamond Bank is determined to write off its non-performing loans before the merger is finalised. Speaking in an interview on Thursday, Wigwe said…
New taxes, excise duties on the way to boost revenue
The Federal Government will soon introduce new taxes and excise duties to raise funds for the execution of projects. Minister of Finance Mrs Zainab Ahmed made this known yesterday at the budget breakdown in Abuja,…
Court restrains Diamond Bank from taking over aircraft
A Federal High Court sitting in Lagos south west Nigeria has restrained Diamond bank Plc and its appointed Receiver /Manager Mr. Babajide Koku and any of their agents from exercising any right of a secured credit…
Diamond Bank’s merger: Access Bank increases capital raising to $457m
Access Bank Plc could raise up to $457 million or about N165.6 billion in new debt and equities capital to support ongoing business combination with Diamond Bank Plc. Access Bank will be the post-merger entity and its Group…
Diamond Bank market cap rises to N26.4bn after acquisition
The market has remained happy with the decision of Diamond Bank to merge or be acquired by Access Bank as share price continues to rise. Diamond Bank shares have gained over nine percent in value every day after …
The Difference N1000 Can Make
Ever thought that only N1000 can help you start the journey to long-term wealth and rewrite your story? Do you wish your money could work for you while you hustle, allowing you to spend yet still plan for a future…
We‘ve invested $100 million in Nigeria – China
The Chinese government has said that Chinese companies invested a whopping $100 million in the first 10 months of 2018. It also expressed its willingness to give priority to supporting Nigeria in breaking the…
NNPC moves to acquire 30% market share in petrol retailing
The Nigerian National Petroleum Corporation (NNPC) is working on increasing penetration in the downstream sector to enable it capture 30 per cent of the retail market in the country.The Group Managing Director of the corporation,…
Fed Govt retains $60 benchmark as oil dips to $58
SHOULD oil prices continue to dip, funding next year’s N8.73 trillion budget may be tough for the Federal Government. Brent declined 2.01 per cent to $58.41 a barrel yesterday on the back of global equity…
CLOSE-UP: Pascal Dozie, the investment guru who ‘sold MTN shares’ to rescue Diamond Bank but failed
Pascal Dozie, founder of Diamond Bank Plc, will remember December 17, 2018, as the day his bank began its journey into extinction. Once described by Forbes as the ‘Rolling Stone That’s Never At A Loss’, the…
CBN approves Diamond Bank merger with Access Bank
The Central Bank of Nigeria (CBN) has approved the proposed merger between Access Bank and Diamond Bank. In a letter dated December 17, 2018, and addressed to the managing director of Access Bank, the apex bank…
Government agric efforts crash prices of food items in Lagos
Various government efforts at revamping agriculture may have started yielding results as prices of tomatoes and pepper have reduced in major markets in Lagos. A survey by NAN on Monday at Mile 12, Oyingbo and Iddo…
Diamond Bank’s managers to go
Diamond Bank Plc’s acquisition by Access Bank Plc is official. Yesterday’s confirmation of the deal has reinforced the story exclusively reported by The Nation on November 12. Diamond Bank’s Chief Executive…
EXPLAINER: 10 things to know about Access Bank, Diamond Bank merger
The management of Diamond Bank on Monday announced its merger with Access Bank. A statement by Uzoma Uja, the bank’s Secretary/Legal Adviser, said the transaction will be completed by the first half of 2019.…
Fuel Subsidy Debt: Marketers receive N236bn promissory notes
Petroleum products marketers on Monday confirmed they have started collecting the N236 billion promissory notes for their outstanding subsidy debts. The payment is an implementation of the federal government’s promise to pay them…
What might be your fate as a Diamond Bank Staff
As the news of Access Bank’s likely merger with tier two lender, Diamond Bank continues to filter into the financial system, one thing that would be uppermost on the mind of staff of both entities is job security. …
Access Bank merger: This is what will happen to your Diamond Bank Deposit
As the news of Access Bank’s merger with tier two lender Diamond Bank continues to reverberate across the country, the primary concern for many Nigerians will be what happens to their deposits. Echoes of banking…
UPDATED: ‘We’ll become biggest retail bank in Africa’ — Diamond Bank
Diamond Bank has announced its decision to merge with Access Bank Plc, as earlier reported by TheCable. In a statement on Monday, the bank said the strategic decision will help it become the biggest retail bank…
Access, Diamond Bank share prices jump after ‘acquisition’
Diamond Bank share price is on the rise, following the conclusive acquisition by Access Bank PLC. On Sunday, TheCable reported the acquisition by Access Bank, as midwifed by the Central Bank of Nigeria to…
BREAKING: Diamond Bank announces acquisition by Access Bank
Diamond Bank has announced its decision to merge with Access Bank Plc, as reported by TheCable. In a statement on Monday, the bank said the strategic decision will help it become the retail biggest retail bank on…
Why Access Bank is acquiring Diamond Bank
Nairametrics confirms that a merger deal between Access Bank Plc and Diamond Bank will be announced on or before Close of Business Monday, December 16th, 2018. Nairametrics had earlier postulated on how a possible…