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NGX Rates Fidelity Bank highest on Corporate Governance

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  Fidelity Bank Plc complies with the highest corporate governance standards as the leading commercial bank adheres promptly to all full disclosure requirements and global best practices. Fidelity Bank is awarded CG+, the highest rank under the Corporate Governance Rating System (CGRS), which screens quoted companies against prescribed best practices and standards. A    review of the latest compliance report showed that Fidelity Bank sustains its highest-ranking rating of CG+, with shareholders and market pundits commending the high corporate standards of the bank. Head, Listings Regulation Department, NGX Regulation (NGXRegco), Mr. Godstime Iwenekhai, explained that the CGRS was designed to strengthen the governance structures of listed companies and provide a valid basis for discerning investors to differentiate between listed companies on the basis of their compliance withIn our view, corporate governance promotes ethical business practices, transparency and fair compe...

Fidelity Bank Partners Lagos State to Plant 20,000 Trees

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As part of initiatives under its Environment Corporate Social Responsibility (CSR) pillar, leading financial institution, Fidelity Bank Plc, has partnered with the Lagos State Parks and Gardens Agency (LASPARK) to launch a tree planting drive.   Through the collaboration, Fidelity Bank will support LASPARK to plant 20,000 trees in the state by July 2025 as part of its strategy to combat climate change and promote environmental sustainability in alignment with the United Nations Sustainable Development Goal 13.    Speaking at a tree planting exercise put together to launch the partnership in Alausa, Ikeja recently, the Divisional Head, Brand and Communications at Fidelity Bank Plc, Dr. Meksley Nwagboh noted that, “Environmental preservation is a key driver of our CSR focus at Fidelity Bank, and partnering with LASPARK aligns with our sustainability objectives.    “We believe that protecting the earth is a shared responsibility, and LASPARK’s commitment to this ca...

1,500 Osun Residents Benefit from Fidelity Food Bank Outreach

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  Over 1,500 residents made up of women, children, widows, and the elderly have benefited from the one-day feeding program organized by Fidelity Bank in Osun State. The food bank project was held at St. Benedict Catholic Church, Osogbo, Osun State under the bank’s Corporate Social Responsibility (CSR) Initiative created to reach out to vulnerable persons and reduce the effect of hunger in the society. Speaking at the distribution event, the Divisional Head, Brand and Communication, Fidelity Bank Plc, Dr. Meksley Nwagboh, described the Food Bank Initiative as the bank’s contribution towards helping the less privileged in the society. Highlighting the bank's commitment to supporting the underserved communities in its outreach efforts in the Osogbo and environs, he noted that, “Food security is a pressing challenge, and as a socially responsible organization, we are committed to tackling this issue. We collaborate with various non-governmental organisations (NGOs) to identify communit...

Lagos converts Computer Village, Ikeja to residential area

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  The  Lagos State Government has said the Ikeja Computer Village is a residential area, hence the reason for the proposed relocation of the electronic gadgets village to Katangua in Abule-Egba area of the state . The Special Adviser to the Governmen  e-GIS and Urban Development,  Dr Olajide Babatunde , disclosed this on Tuesday, during a visit to the electronic gadgets’ centre in Ikeja. The assessment was conducted by the Lagos State Building Control Agency, in collaboration with law enforcement agencies and other pertinent government bodies responsible for such affairs. Babatunde said that by law, the Ikeja Computer Village is currently located in a residential area, adding that the plan to relocate the centre to Abule Egba has been delayed due to certain reasons. He, however, said the issues were being addressed already, declaring that occupants of the residential area within the computer village would soon be relocated and settled in Katangua, Abule Egb...

Give Tinubu time to achieve results. Don’t rush to judge him – Gowon tells Nigerians

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  Former Head of State, Gen. Yakubu Gowon (rtd), has appealed to Nigerians to give President Tinubu time to produce results and also cautioned Nigerians against rushing to judge the performance of the President.   He made the call while speaking to State House correspondents after meeting with President Tinubu at the Presidential Villa, Abuja on Wednesday, February 21. The former Military leader said it is too early to deliver a final verdict on the Tinubu-led government.   ‘’WELL, I WAS TELLING HIM THAT NO NIGERIAN LEADER CAN GET THERE AND WILL NOT HAVE ALL THE REPORT OF WHAT IS BEING SAID ABOUT HIM. BUT CERTAINLY, THERE’S NO DOUBT FROM WHAT ONE HEARS AND WHAT ONE SEES ON THE VARIOUS MEDIA, ETC. I THINK THE GOVERNMENT IS TRYING THEIR BEST TO DEAL WITH THE VARIOUS PROBLEMS OF THE COUNTRY. DON’T YOU WORRY YOU WILL GET CRITICISED, BUT PEOPLE WHO GET THERE KNOW BETTER THAN YOU KNOW. I THINK ALL WHAT ONE CAN SAY IS THAT NIGERIANS, WE’VE GOT TO GIVE THE PRESIDENT TIME. AND IT ...

Fidelity Bank Extends CEO's Contract: Dr. Nneka Onyeali-Ikpe to Lead Till 2026

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  Fidelity Bank Extends CEO's Contract: Dr. Nneka Onyeali-Ikpe to Lead Till 2026 Fidelity Bank Plc has recently made a significant decision regarding the tenure of Dr. Nneka Onyeali-Ikpe, extending her role as Group Managing Director/Chief Executive Officer (GMD/CEO) from 2024 to 2026. This announcement, conveyed through a notice to the Nigerian Exchange Limited (NGX), signifies the board's deep trust in Onyeali-Ikpe's capabilities and highlights her exceptional performance since assuming office on January 1, 2021. The official confirmation of this decision came during the board meeting convened on February 12, 2024, as attested by Ezinwa Unuigboje, the Company Secretary. This extension of tenure is in line with Fidelity Bank's strategic objectives and serves as a recognition of Onyeali-Ikpe's significant contributions to the bank's growth and transformation, particularly evident throughout her tenure. Drawing on her extensive experience spanning over three deca...

INEC Suspends Bye-Elections Amid Disruptions and Irregularities

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  The Independent National Electoral Commission (INEC) has taken the decision to suspend ongoing bye-elections in several constituencies and polling units (PUs) across the country due to disruptions and irregularities. Sam Olumekun, the INEC National Commissioner and Chairman of the Information and Voter Education Committee, announced this development on Saturday, February 3, amidst the ongoing electoral process in 26 states and 80 local governments. Olumekun outlined the affected areas, including the Ikono/Ini Federal Constituency in Akwa Ibom State, where elections were suspended in two units due to the carting away of all election materials by hoodlums. Similarly, in Enugu State, the exercise was halted in all eight PUs of Enugu South 1 State Constituency because the original result sheets were unavailable for voter inspection before polling commenced. Additionally, in Kunchi/Tsanyawa State Constituency, Kano State, the elections were suspended in all 10 PUs in Kunchi LGA due to...

Guinea's Junta Seizes Government Officials' Passports and Freezes Bank Accounts

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  Guinea's Junta Seizes Government Officials' Passports and Freezes Bank Accounts Guinea's military junta has issued orders to confiscate the passports of government officials and freeze their bank accounts following the dissolution of the administration under mysterious circumstances. Since seizing power in a coup in September 2021, the military has continued to assert its authority, with the latest decree on Monday dissolving the government that had been in office since July 2022. General Ibrahima Sory Bangoura, the Chief of Staff, announced on state television, flanked by around 20 soldiers, that the junta has directed the freezing of government officials' bank accounts, confiscation of travel documents, and removal of their service vehicles, bodyguards, and assistants. Notably, the junta has not provided any public explanation for these measures, although it has emphasized its commitment to combating corruption, a common theme among recent military takeovers in West...

IPOB Advises South-Easterners Against Participating in Nationwide Protests Against Economic Hardship

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  IPOB Advises South-Easterners Against Participating in Nationwide Protests Against Economic Hardship The separatist group  Indigenous People of Biafra (IPOB)  has issued a directive urging individuals in the South-East region to refrain from joining the ongoing protests across Nigeria against the prevailing economic challenges under President Bola Tinubu's administration. In a statement released on Tuesday by IPOB's spokesman, Emma Powerful, the group cautioned against organizing protests in the southeastern states, asserting that the Igbo community has disengaged from Nigerian affairs and awaits an opportunity to secede. Powerful emphasized that initiating protests against economic hardship in the South-East would jeopardize the safety of Igbo individuals. The statement referenced previous accusations during the #EndSARS protests, where Igbo people were blamed for attempting to destabilize Nigeria through violence. While acknowledging the economic struggles faced by Ig...

Non-existing entities, other infractions make up $2.4bn FX backlog – Cardoso

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  Non-existing entities, other infractions make up $2.4bn FX backlog – Cardoso I n a recent interview with Arise TV, Dr. Olayemi Cardoso, the Governor of the Central Bank of Nigeria, disclosed startling revelations about the foreign exchange backlog he inherited upon assuming office. Out of the $7 billion in obligations, approximately $2.4 billion was flagged for irregularities, including requests from non-existent entities, absence of import documents, and other infractions. Addressing concerns about the currency market's recent volatility, Cardoso outlined the challenges faced in addressing the backlog. He emphasized that the process of settling the obligations required a meticulous approach, especially considering the limited resources available. To thoroughly scrutinize the backlog, the Central Bank enlisted the services of Deloitte management consultants to conduct a forensic audit. The results, according to Cardoso, were eye-opening. The audit revealed that a significant port...

Headline: Minna Residents Stage Mass Protest Over Soaring Living Costs

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  Headline: Minna Residents Stage Mass Protest Over Soaring Living Cost  In a massive display of frustration, the residents of Minna, the capital city of Niger State, took to the streets to voice their concerns about the escalating expenses of both food and daily life in the region. The protest, characterized by a significant turnout, saw demonstrators converging at the Kpakungu roundabout, effectively blocking the Minna-Bida Road from as early as 7 am on Monday. Tensions escalated when attempts by the police to manage the crowd were met with resistance, pushing the protesters to demand the withdrawal of law enforcement. In response, the police resorted to firing multiple shots into the air to disperse the gathering. The situation remains tense as residents continue to express their grievances. Stay tuned for further details on this developing story. MORE DETAIL LATER............

WAEC Extends Registration Deadline for 2024 SSCE Exams for School Candidates

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  WAEC Extends  Registration Deadline  for 2024 SSCE Exams for  School Candidates This is to inform all prospective candidates and stakeholders that the registration deadline for the Secondary School Certificate Examination (SSCE) of the West Africa Examination Council (WAEC) has been extended.  All intending candidates are hereby informed that the registration period of the WASSCE for School Candidates, 2024 has been extended to Tuesday, 20th February, 2024.

How shutdown by Bureau de Change go take affect naira to dollar exchange rate

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  How shutdown by Bureau de Change go take affect naira to dollar exchange rate WIA DIS FOTO COME FROM, GETTY IMAGES Wetin we call dis foto, Di naira fall to im lowest in history against di dollar as e exchange for over N1,500 for 1 dollar on January 31, 2024 1 February 2024 Bureau de change operators for Nigeria capital, Abuja, don shutdown business starting from Thursday. Dia counterparts for Kano, Nigeria second largest city, go also lock shop by 12 noon. Dis dey come as di naira record im lowest fall against di US dollar, as e dey currently exchange above N1500 to one dollar. Mohammed Mustapha, di assistant provost marshal of di bureau de change union for Abuja tell BBC Pidgin say di decision na sake of say dem no happy as naira dey tumble against di dollar everiday. Remember say for 2021, di Central Bank of Nigeria led by Godwin Emefiele, bin  ban selling of forex to BDCs  sake of say e don become channel to dey do mago-mago. But e later lift di ban in August 2023. W...