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Jovago.com, one of Africa's leading hotel booking website, and AXA, a worldwide leader in Insurance and Asset management announced today a partnership to develop the expansion of Jovago in a new round of funding aimed at boosting its activities in Africa. This would further ensure the expansion of the business and strengthen the brand in major cities across Africa and Asia. AXA as a major investor confirms Jovago’s strategy to

  Islamic banking leaders and dignitaries from across Africa and the Middle East gathered today at the 2nd annual International Forum on Islamic Finance (IFIF 2016) ( www.IFIF2016.com ). Held under the patronage of the Government of the Republic of the Sudan, the Central Bank of Sudan and the Ministry of Finance & Economic Planning – and in strategic partnership with the Bank of Khartoum - IFIF 2016 hosted 200 dignitaries, central bank representatives,

By Niyi Tabiti Back in the days, Union Bank pay off "Big, Strong,Reliable" was very exciting to the ears.The adverts was shown regularly on television with the logo of a horse.Union bank was always on the top five best banks in Nigeria.    However, Gistmaster findings show that Union bank management forgot to consolidate on the achievement of the

After publishing the news of Financial council suspension of IBTC directors,Gistmaster got a message from the bank stating their own side of the story. Our attention has been drawn to the media statements by the Financial Reporting Council of Nigeria (FRCN) in which several inaccurate and unseemly allegations were made against Stanbic IBTC Holdings PLC (“Stanbic IBTC”). Although the matter is in court, we are

The Financial Reporting Council of Nigeria has suspended the Chairman of Stanbic IBTC Bank Plc, Atedo Peterside; its Managing Director, Sola David-Borha; and two staff of KPMG, Arthur Oginga and Dr. Daru Owei, over accounting irregularities and improper disclosures in Stanbic IBTC’s 2013 and 2014 financial statements. The FRC in a statement on Monday, said Peterside, David-Borha and the KPMG staff remain suspended until the conclusion of investigation into the

The Nigerian Stock Exchange’s efforts to at promoting corporate social responsibility and sustainability received boost recently when the bourse was honored with the Best Corporate Social Responsibility Company Award in New York, United States at the African Business Awards.  The African Business Awards, launched in 2008 by African Business magazine, is designed to celebrate excellence in African businesses, by recognizing the individuals and companies that are driving Africa’s rapidly transforming economy and creating new socio-economic opportunities for citizens and communities all over the continent.   The Managing Director of IC Publications and Group Publisher of African Business magazine, Mr. Omar Ben Yedder said “It is encouraging

    Following the introduction of the post-UTME into tertiary institutions in Nigeria, most schools have been making good money off admission seekers. A statement issued the public relations officer of Obafemi Awolowo University,Ile Ife (OAU) shows that no fewer than 27,000

FCMB Group Plc on Wednesday declared a profit after tax of N8.3bn for the half-year ended June 30, 2015, 13 per cent lower than the N9.576bn it made in the same period last year. Although the group grew its gross earnings by 11 per cent from N69.620bn to N77.353bn in the review period, higher expenses led its profit before tax to dip by 14 per cent from N11.140bn to N9.565bn. FCMB’s financial statements, which it filed with the Nigerian Stock

Nnamdi Okonkwo, the MD/Ceo of Fidelity Bank has declared that his bank is positive about gaining more grounds in it business operations. Okonkwo said despite some economic and political issues in the country, the bank was able to record increase in it gross earnings and profits. Read the full details of the financial records of the bank here

Benin Republic Prime Minister,  Mr. Lionel Zinsou, Nigeria’s Vice President, Prof. Yemi Osinbajo, Founder, Tony Elumelu Foundation Mr. Tony Elumelu and Kaduna State Governor, Mallam Nasir El-Rufai at the $100 Million Tony Elumelu Entrepreneurship Programme (TEEP) boot camp for 1000 entrepreneurs from 51 countries across Africa, Ota, Ogun State, on Saturday July 11, 2015. As part of Tony Elumelu’s $100 million commitment to empowering African entrepreneurs, 1,000 Tony Elumelu Entrepreneurs, representing 51 African countries from the Tony Elumelu Entrepreneurship Programme (TEEP) Class of 2015, converged near Lagos, Nigeria for an intensive

One of the world's biggest e-commerce companies,Alibaba just announced that it would be a major investor in mei.com. Forbes reported that the company would be investing more than one hundred million dollars into mei.com, a website that

Group Managing Director/CEO, UBA Plc, Mr. Phillips Oduoza and Director, Information Technology, UBA Plc, Mr Rasheed Adegoke during the press launch of the Bank’s simplified solution for  Biometric Verification Numbers (BVN) registration, in Lagos on Monday Lagos, Nigeria.    July 6, 2015 . United Bank for Africa (UBA) Plc has introduced a simple, convenient and hassle free process for customers of the bank to submit their Biometric Verification Numbers (BVN). Leveraging on its robust information technology infrastructure, on Monday July 6,

Zumax Nigeria has dragged FCMB to court over improper management of it account and the diversion of N1 Billion,resulting in what it called monumental fraud. There have been amazing revelations in the Lagos State High Court, where FCMB is currently defending allegations that it is responsible for the massive defrauding of a corporate customer.  (The suit no. in the

Keith Richards MD Promisidor Contract staff working with Promasidor in Nigeria yesterday protested what they described as delay in payment of their salaries.   As a result of the protest, the management of Promasidor invited policemen to forestall a break down of law and order, which might lead to damages of the company properties.    Gistmaster gathered that two companies hire contract staff who work mostly in the production department for promasidor.One is known as Global Manpower while the other is called Sustainability.   Those employed by Global Manpower have been paid their May salaries on the 23 May but those employed through Sustainability are yet to be paid. Sources hinted that the recent development is giving room to suspicions about politics in Promasidor, especially between the management of Sustainability and Global Manpower in a bid to out do one another in the business of staff sourcing.Sustainability is allegedly owned by

The Federal Inland Revenue Service (FIRS) has arrested Chief Executive Officers (CEOs) of three companies in Lagos for alleged failure to remit N2.17 billion taxes. In a statement at the weekend by the FIRS Director of Communications and Liaison Department, Mr. Emmanuel Obeta, the agency said the enforcement drive, led by an Assistant Director of Legal and Prosecution Department, Mr. Abu Stephen, is aimed at recovering arrears of taxes accruing to the government from Company Income Tax (CIT), Education Tax (EDT), Withholding Tax (WHT) and Value Added Tax (VAT). He said the FIRS served many notices on the companies to pay their outstanding tax liabilities or be compelled to do so. The statement added that the companies and their liabilities are: Pivot Engineering Limited, N609,911,992:36; Reliance Telecommunications Limited, N592,756,627:00; HITV Limited, N309,500,065:55; and UTC Nigeria Plc, N277,589,163:74 Others are: Sweet Sensation Confectionary Limited, N155,483,013:00; Ent...

J imoh Ibrahim, a Nigerian billionaire,politician and chairman of Air Nigeria is very excited at the moment. Air Nigeria (formerly Virgin Nigeria) just took delivery of its much awaited A300-200 aircraft. The flight is to serve the purpose of flying passengers from the Murtala Muhammed International Airport to London airport. Ibrahim and the MD of Air Nigeria flew on board the airport to Lagos via Egypt some hours ago.The arrival of the aircraft was marked with a  short ceremony. The first passenger flight has been scheduled for wednesday. Known as 'Mr. Risk Taker', Mr. Ibrahim is also a motivational speaker and publisher of Newswatch magazine.

Facebook Inc CEO Mark Zuckerberg fielded questions about the No. 1 social network's slowing revenue growth and its $1 billion purchase of Instagram as he kicked off a cross-country roadshow to promote the company's $10 billion initial public offering. Wearing his trademark "hoodie" sweatshirt, jeans and sneakers, the 27-year-old chief executive said he would do the Instagram deal again if he had to, according to attendees at the event. Hundreds of investors showed up for the presentation at New York's Sheraton Hotel, which was closed to the media, on Monday. The world's largest social network aims to raise about $10.6 billion, dwarfing the coming-out parties of tech companies like Google Inc and granting it a market value close to Amazon.com Inc's. The 8-year-old social network that began as Zuckerberg's Harvard dorm room project indicated an IPO range of $28 to $35 a share on Thursday, which would value the company at $77 billion to $...

 As the New Year unfolds, Nigeria’s leading Telecommunication network, MTN is partnering with GTBank to deliver a more convenient means of money transaction between family, loved ones and business partners across the country. In partnership with GTBank, the newly introduced service “Mobile Money” is a secure, convenient and affordable way of sending money using an MTN mobile phone. With this new exciting service powered by MTN, you can: 1)      Send and receive money across the country with your phone. 2)      Recharge your phone by purchasing airtime. 3)      Pay bills e.t.c. Mobile Money is a fast and convenient way of sending money when in an emergency or when paying bills, we have been able to create this new service which will be beneficial to a lot of Nigerians on the MTN network as well as Non-users MTN Users can dial *500# and follow the instructions to activate MobileMoney service. Visit www.mymobilemoneyng.com for more details. You can also visit www.facebook.com/MTNLoaded ...