By JKNewsMedia RECORD GROWTH across key financial indicators marked the release of Wema Bank’s FY 2025 audited financial results, with profit before tax rising to N221.85bn and total assets reaching N5tn. Head, Strategy and Investor Relations, Femi Akinfolarin, and Chief Finance Officer, Bunmi Oladosu, stated in a press release, that profit b...
By JKNewsMedia FORMER DIRECTORS of the Union Bank of Nigeria (UBN) caused the institution to lose billions in losses after stealing funds, manipulating reports, hiding over N250 billion in losses, and diverted foreign loans, a media release states. According to the statement, investigators found that $300 million in foreign loans was added wi...
By Jemimah Wellington, JKNewsMedia Correspondent A NEW 7.5 percent Value Added Tax (VAT) will be applied to bank transfers and Unstructured Supplementary Service Data transactions, following notices issued to customers by Nigerian banks including Moniepoint. The customer notice, obtained on Wednesday said the VAT charge will take effect from ...
By JKNewsMedia THE SUPREME Court has ruled in favour of Fidelity Bank in its long-running legal dispute with Sagecom Concepts Limited as a five-member panel led by Justice Lawal Garba delivered the judgment on Friday, granting key aspects of the bank’s appeal. The ruling brings definitive closure to a legacy case that has attracted attention ...
By JKNewsMedia CUSTOMER ENGAGEMENT and business growth took centre stage last week as Polaris Bank hosted a Global Trade Forum in Ibadan, drawing key stakeholders and clients from across the South-West to explore new opportunities and deepen trade collaborations. The event, held last Thursday, was attended by the Bank’s Executive Director, Re...
By JKNewsMedia THOUSANDS OF Nigerians have benefitted from Union Bank of Nigeria (UBN)’s fourth edition of the Save and Win Palli Promo, which culminated in a grand finale where three customers walked away with ₦5 million each. The nationwide campaign, which launched in December 2024 and ended in May 2025, has now delivered over ₦330 [&hellip...
By JKNewsMedia CUSTOMERS USING the Unstructured Supplementary Service Data (USSD) banking services will now have charges deducted from their mobile airtime balances instead of bank accounts, following a directive from the Nigerian Communications Commission (NCC). The move enforces the NCC’s End-User Billing (EUB) model, which stipulates that n...
By JKNewsMedia BANKING FEES that once chipped away at customers’ funds are now set to become a thing of the past—at least for those using Sterling Bank. The bank says the industry-defining policy has taken effect, eliminating charges on all local transfers and reshaping the financial landscape. The announcement, made on 1 April, was initially...
