BUSINESS

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BREAKING: CBN stops banks from retrenching workers

The Central Bank of Nigeria (CBN) has ordered all banks not to retrench any workers A statement from the apex bank signed by Mr. Isaac Okorafor Director, Corporate Communications said the CBN, Bankers’ Committee both decided to suspend lay-offs in banks. Access Bank has been trending in the media after an alleged video of a […]

Access Bank Shuts Down 346 Branches Nationwide (Full List)

Nigerian financial power house, Access Bank, annunciated the closure of more than 300 of its branches nationwide in a bid cut down running costs as a result of the outbreak of the deadly virus, COVID-19. This move comes in the wake of a statement made by the group managing director/CEO of Access Bank, Herbert Wigwe […]

BREAKING!!! Popular Nigerian Billionaire Dies During Surgery(Photos)

Popular Nigerian Billionaire from Bayelsa State, Keniebi Okoko, has died of Liposuction in Lagos Hospital. A reliable source close to the Bayelsa born Billionaire told our source that the billionaire died a painful death from the Anaesthesia Liposuction. The source said; “while the operation was going successful, there was a power outbreak in the hospital”. […]

COVID-19: Reps seek two-month free power supply to Nigerians

The House of Representatives is to consider a fresh Stimulus Bill that will ensure that Nigerians get free electricity supply for two months to mitigate the effects of the COVID-19 pandemic, Speaker Rep. Femi Gbajabiamila has said. The Speaker said the proposed Bill is to help in boosting the economy through the informal sector as […]

Union Bank, Eko Hotels shut down operations over Coronavirus

Amid the scare of Coronavirus, Union Bank of Nigeria and Eko Hotels have joined corporate organisations lending their voices to the war against the deadly disease, Covid-19 by shutting down operations. As regards Union Bank, it was gathered that members of staff have been urged to work from home. In a statement obtained by TheNewsguru, […]

Zenith, Union Banks clear air on alleged merger talks

The managements of both Zenith Bank Plc and Union Bank of Nigeria Plc have reacted to the widespread reports that they were having discussions bordering on becoming a single entity. Zenith Bank on Tuesday released a press statement to the Nigerian Stock Exchange (NSE), claiming it had not made any binding offer to acquire any […]

BREAKING!!! FG Slashes Petrol Price To ₦130 From ₦145

Any moment from now, the Federal Government may reduce the pump price of Premium Motor Spirit, PMS, from N145 per liter to about N130. It was learned that the Federal Government may have approved the new price after a presentation by Minister of State for Petroleum Resources, Timipre to the ongoing meeting of the Federal […]

Coronavirus: Economic Council Meets Buhari, Warns Of Recession

The Presidential Advisory Council on Tuesday warned about dire economic consequences for Nigeria if the raging coronavirus infection was not contained as quickly as possible. The council, which is chaired by Prof Doyin Salami, met with the President, Major General Muhammadu Buhari (retd.), at the State House, Abuja. It said one of the immediate consequences, […]

Over 1000 shops burnt in Benue market

Goods valued at millions of Naira reportedly went up in flames as a result of the fire incident. Fire engulfs Otukpo Main Market in Benue. [Tribune] No less than 1000 shops have been burnt after fire engulfed the Otukpo Main Market in Benue on Monday, March 16, 2020. It was gathered that the incident, which […]

Zenith Bank To Acquire Union Bank

Zenith Bank Plc has reportedly been given the green light to merge or acquire Union Bank Nigeria Plc. Nairametrics got wind of this from a reliable source. We understand talks are currently ongoing between the banks and a tentative arrangement may have been reached to commence due diligence. Zenith Bank is Nigeria’s largest bank by […]