Ocean News

The National Broadcasting Commission (NBC) has slammed a fine of N5 million on Channels Television for breaking the broadcasting law during an interview with the Vice-Presidential candidate of Labour party, Datti Baba-Ahmed. The sanction was communicated to the Chief Executive Officer of the television station in a letter titled “Broadcast of an Inciting Interview, A Sanction”, and signed by Balarabe Ilelah, the commission’s Director-General. It read in part ‘’The NBC monitored the broadcast of a live interview of the running mate of the Labour Party Vice presidential candidate, Dr Datti Baba-Ahmed, by the anchor of Politics Today, Seun Okibaloye, on Wednesday, March 22. Dr Baba-Ahmed said it will be unconstitutional to swear in an elected president on May 29, 2023, because of election irregularities,”  The NCC chairman stated that the interview was volatile and capable of inciting public disorder and therefore violated some sections of the broadcasting code. This, according to him...

To boost access to finance for smaller businesses in Nigeria and to support increased trade, IFC today announced a partnership with Union Bank of Nigeria Plc to help the bank expand lending to hundreds of businesses operating in critical sectors in the country, including food, healthcare, manufacturing, and services.  IFC’s $30 million loan will allow Union Bank to increase trade financing and working capital lending to Nigerian businesses, including those whose cashflows have been strained by recent disruptions in global and local markets.  “As a bank, we are deeply committed to enabling success for SMEs. We understand the critical role of small businesses in leading Nigeria’s economy towards growth. This funding from IFC will enable us to extend financial relief to our customers during this difficult time. I am confident that the funds will help these businesses harness opportunities, and preserve jobs,” said Mudassir Amray, Managing Director and Chief Executive Officer of U...

Following a six-month successful run, the second edition of Union Bank’s Save & Win Palli Promo is finally coming to an exciting conclusion. The grand finale event, which is set to hold on January 27th, 2023, at the bank’s Head Office in Marina, Lagos, will reward over 300 lucky customers with cash prizes worth over 40 million naira and other exciting consolation prizes. In addition, one lucky customer will go home with the grand prize of 5 million naira from the Save and Win promo draw, while other customers will receive other cash prizes of N105,000 and N500,000 for the last set of the monthly and quarterly draw winners. Union Bank will also reward 227 customers with 18.5 million naira in its other ongoing savings promo called UnionKorrect. The UnionKorrect regular and exclusive draws will run alongside the Save and Win Palli Promo draw on the same day. The event will be live-streamed, and participants can join virtually from anywhere in the country. Winners will be randomly sele...

In line with its Corporate Social Responsibility(CSR) drive, Polaris Bank in partnership with the National Youth Service Corps (NYSC) and NerdzFactory has commenced a high-impact capacity-building workshop on digital skills for 5,000 National Youth Service Corps members across 12 states in Nigeria. The Bank explained that her action is intended to equip young Nigerians with relevant work-ready digital skills which is focused on building the youth’s self-sustenance in innovation, creativity, digital skills, business acumen, and relevance in the 21st-century economy and workplace. According to Polaris Bank's Group Head, Product & Market Development, Mrs. Adebimpe Ihekuna, “This partnership is part of Polaris Bank’s commitment to Youth development and empowerment in Nigeria which aligns with the Bank's strategic CSR pillars.” According to her, “We see the need for a work-ready and digitally equipped youth which has informed Polaris Bank’s partnership with NerdzFactory to make ...

  The Foundation became the pioneer winner of the ECOSEA Award for Most Outstanding Foundation in Environmental Sustainability.  The Environmental Sustainability Conference, Expo, and Awards (ECOSEA) hosted by Brand Communicator, a leading brand and marketing publication, and Impact Report Africa, a fast-rising CSR, and Sustainability platform recognized the Sterling One Foundation for its strides in combating climate change in Nigeria with the Most Outstanding Foundation in Environmental Sustainability award. At their 1-day event themed; “Only One Earth: Building A Safer Environment,” the host organizations commended Sterling One for designing what it described as grassroots interventions that are leaving a positive footprint. The event which was curated as a convergence of public and private sector stakeholders in the environmental sustainability space, as well as development agencies, was geared towards developing a blueprint of solutions tailored to address some of the cha...

The Nigerian National Petroleum Company (NNPC) Limited has approved an upward review in the pump price of Premium Motor Spirit (PMS) from N165 per litre to N179 per litre, effective Tuesday, July 19. NNPC in a notice to fuel marketers directed them to change the petrol price on pumps to the new price effective today. This was even as the company equally increased the ex-depot price from N148.17 to N167 per litre. This came after weeks of petrol scarcity resurfaced across the country as fuel retailers were adopting different price bands to force unofficial deregulation attempts. Already, majority of filling stations in Lagos have adopted different price models. While some filling stations have changed the price on their meters to reflect the current price they are selling at, others have left theirs to show the approved retail price of N165 per litre but were selling above the displayed price, Guardian News reports.  

... Highlights Commitment to Environmental, Social Impact Leading financial institution, Union Bank, has today released the 6th edition of its annual Citizenship, Sustainability and Innovation (CSI) report, which provides an update on the bank’s initiatives across environmental, social and economic areas during 2021. Like previous editions, this year’s report highlights Union Bank’s continued efforts toward positively impacting the people and communities it serves through sustainable and responsible business practices, while also driving innovation. In 2021, the bank focused on community-led projects which directly impacted the lives of over 250,000 Nigerians in 20 communities across the six geopolitical zones of the country. These initiatives covered infrastructure support, education, health and general safety.  Speaking about the release of the report, Chief Brand and Marketing Officer, Union Bank, Ogochukwu Ekezie-Ekaidem said: “Support for our communities is a top priority for ...

…Businesswomen Drags Bank To Court, Demand N10million Damages Three businesswomen and customers of Polaris Bank have dragged the bank before a Surulere Magistrate Court in Lagos over alleged unjustifiable freezing of their domiciliary and Naira accounts with the bank and subsequent illegal deductions on the said accounts amounting to about $30,769 (USD). The applicants – Mrs. Adebomi Orogun, Mrs. Kehinde Banjo, and Mrs. Oluwatoyin Ode, in an originating application brought pursuant to Order 1 Rule 2 of the Magistrates’ Courts Civil Procedure Rules of Lagos State (2009), accused the bank of freezing their USD (US Dollar), Euro and Naira account with the bank without a valid court order. They said the bank proceeded to make unauthorized deductions from their accounts without any justification whatsoever as there was no time they were accused of engaging in fraudulent activities with the said accounts. In her affidavit in support of the application, the first applicant (Orogun) who mainta...

Leading financial institution, Union Bank of Nigeria has received the highly acclaimed award for the Best Trade Finance Platform Initiative, at the recently concluded Middle East & Africa Banking Innovation Awards 2022. The Middle East & Africa Banking Innovation Awards, organised by The Digital Banker, is a prestigious award program designed to recognise the world’s best-in-class commercial banks - across the Middle East and African region, that blend technology and innovation, to deliver superior products and service for improved customer experience.  Speaking on the win, Mr. Peter Amadi, Head, Trade Products Union Bank, said: “We are honoured to be recognised by The Digital Banker. This award is a testament to our contribution towards the acceleration of the financial markets in the Middle East and African region. Union Bank remains committed to supporting our trade partners as we continue to deliver the highest quality transaction services and trade finance solutions to...

reiterates commitment to innovation and technological advancement in Nigeria Leading financial institution, Union Bank has launched a technological and innovation hub known as SpaceNXT. Built to promote innovation and encourage collaboration within the tech ecosystem in Nigeria, SpaceNXT is a future-forward purpose designed co-working hub for innovators, creators and techpreneurs. Located within the Union Bank Head Office in Lagos Nigeria, SpaceNXT was set up to provide an enabling environment where tech enthusiasts, visionaries and creators can converge for the propagation of new ideas. It is a launching pad for innovators to collaborate, develop and improve on ideas around digital systems and technology. Lola Cardoso, Executive Director and Head, Retail Banking and Digital, Union Bank, spoke on the benefits of SpaceNXT to the tech ecosystem. She said, “Globally, technology and innovation are key drivers of growth, and here in Nigeria, the tech community is at the forefront of our ong...