Tag: Ecobank
-
Ecobank to Appeal Tribunal Judgment on Tax Liability
Ecobank Nigeria Thursday disclosed that it has resolve to send an appeal to the Federal High Court, on the judgement of the Tax Appeal Tribunal (TAT), sitting in Lagos, in respect of a disputed tax liability between the bank and the Federal Inland Revenue Service (FIRS) for the 2015 financial year. The bank explained in…
-
Ecobank in tax avoidance trouble, ordered to pay N1.6b to FIRS
The Tax Appeal Tribunal has declared as illegal, null and void the decision of EcoBank Nigeria Limited to pay N5, 545, 000,000 as dividends to its shareholders in 2016. That year, Ecobank had claimed it made no taxable profit and rather declared losses from its banking operations. A statement from the Federal Inland Revenue Service…
-
Ecobank adopts CBN’s reduced bank charges
Ecobank Nigeria has complied with the Central Bank of Nigeria’s recent directive on the reduction of bank charges. The bank commended the CBN for taking bold steps to further strengthen the financial inclusion drive in the country. In October 2019, Ecobank announced the elimination of session charges on its USSD platform – *326#, months prior…
-
Enjoy Pleasurable New Year Day Banking with *326#
Make your New Year Day a pleasure by banking at your fingertips, right on your mobile with *326#. It doesn’t matter what kind of phone you have; you can avoid crowded banking halls and bank on the go simply by dialing *326#. Perhaps you are holidaying in Nigeria and need to open an account, you…
-
Ecobank announces fresh appointments
Ecobank Nigeria has announced the appointment of key Management Officers across various levels. Among those appointed are Kenneth Okere, who is now the Company Secretary & Chief Legal Counsel; Ibukunoluwa Oyedeji, Chief Financial Officer (CFO); Abiola Aderinola, Financial Controller; Adetokunbo Uko, Treasurer and Akintunde Dawodu, Chief Compliance Officer and Head, Compliance & Control. All the…
-
Ecobank, NIRSAL sign MoU on agric financing
Ecobank Nigeria Limited and Nigeria Incentive-Based Risk-Sharing System for Agricultural Lending (NIRSAL) has signed a Memorandum of Understanding (MoU) signalling the beginning of a collaboration between both institutions on agri-business financing and the development of products that will support lending to actors in the agricultural value chain in conformity with Ecobank’s risk acceptance criteria and…
-
Labour dialogues Ecobank over mass sack of contract staff
Members of the organized labour under the aegis of the Nigeria Labour Congress (NLC) have entered into dialogue with Ecobank over the Bank’s non-renewal of the contract of its third party recruitment agencies. The dialogue, which commenced yesterday is expected to be completed today. A source at the meeting confirmed that officials of both bodies…
-
Retrenchment: We why didn't renew contracts of affected staff – Ecobank
…says over N500m paid as severance packages and other palliative measures The management of Ecobank on Wednesday explained why it did not renew contracts of its Vendor Managed Personnel. Recall that TNG exclusively reported on Tuesday that over 1,500 staff were affected by the bank’s recent retrenchment exercise. However, the bank in a statement on…
-
EXCLUSIVE: Ecobank commences nationwide retrenchment exercise, over 1,500 staff affected
…affected staff duly compensated – Ecobank insists The management of Ecobank Plc last week Friday laid off over 1,500 staff on its pay roll, TNG can authoritatively report. According to one of the affected staff who confided in TNG, the mass retrenchment started last Friday (July 5) across the bank’s branches nationwide and affected mostly…
-
Investors oversubscribe Ecobank $450m Eurobond
The debut $450 million Eurobond recently issued by Ecobank Transnational Incorporated was oversubscribed by investors, the company has disclosed. The money was raised to assist the Lomé-based parent company of the Ecobank Group to meet its general corporate purposes and to refinance existing Holdco obligations. The Global Offering is a 5-year unsecured note (144A/RegS) listed…