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YET, ANOTHER MULTIBILLION COURT SCANDAL

Bad habits and corruption in the system are causing the nation mounting anxiety A combination of weak and compromised institutions cutting across the executive, legislature and judiciary is increasingly encouraging the culture of corruption and impunity in Nigeria. While the country is still struggling hard to free itself from the attempt by the Process and Industrial Development Ltd (P&ID) to skim off $9.6 billion in damages through a failed gas processing contract, another similar case has popped up. A company named Petro Union Oil and Gas Ltd is demanding a mind-boggling sum of about $15 billion from the Central Bank of Nigeria (CBN) and Union Bank Plc and indeed, Nigeria, for a transaction that was at best intriguing. The court must act expeditiously to curtail another assault on our commonwealth.

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Union Bank unveils its 2020 citizenship, sustainability, and innovation (CSI) report

Union Bank, one of Nigeria’s foremost financial institutions, has announced the release of its 2020 Citizenship, Sustainability, and Innovation (CSI) report, outlining its initiatives across three pivotal areas- Citizenship, Sustainability, and Innovation. The report gives a detailed account of Union Bank’s continued efforts towards creating a more sustainable future by further embedding responsible business practices, positively impacting people, and communities, and driving innovation. The Bank’s initiatives are in alignment with the Nigerian Sustainable Banking Principles (NSBPs) and the Sustainable Development Goals (SDGs), The CSI Report is compliant with the Global Reporting Initiative (GRI) Standards, underscoring the Bank’s focus on transparent, accountable reporting of its initiatives.

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The Rise and Rise of Access Bank

Oluchi Chibuzor writes on Access Bank Plc’s aggressive expansion drive in the continent The recent revelation that Access Bank Plc is among the list of financial institutions from Africa and the Middle East that have expressed interest in the acquisition of Union Bank Plc and other African assets of Atlas Mara Group, a Pan-African banking group, is a cheering news. Atlas Mara Limited, the London Stock Exchange-listed pan-African banking group started by Mr. Bob Diamond, it was gathered has received a number of approaches for its 49.97 per cent holding in Union Bank of Nigeria. Indeed, listing Access Bank Plc among the suitors is a clear reflection of the resolve of the financial institution headed by Herbert Wigwe, its chief executive officer, not to relent in its aggressive expansion drive.

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Zenith, Access Banks express interest to acquire Union Bank —Atlas Mara

Zenith, Access Banks express interest to acquire Union Bank —Atlas Mara
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Bloomberg: Zenith, Access Banks Express Interest to Acquire Union Bank

Obinna Chima with agency report Two Nigerian lenders – Zenith Bank Plc and Access Bank Plc – are among the list of financial institutions from Africa and the Middle East that have indicated an interest in the acquisition of Union Bank Plc and other African assets of Atlas Mara Group, a Pan-African banking group. Bloomberg which disclosed this quoted sources familiar with the matter to have disclosed that Atlas Mara Limited, the London Stock Exchange-listed pan-African banking group started by Mr. Bob Diamond has received a number of approaches for its 49.97 per cent holding in Lagos-based Union Bank of Nigeria. Zenith Bank Plc and Access Bank Plc are among the suitors that have expressed interest alongside other African rivals such as Morocco’s Attijariwafa Bank, the sources said.

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