Business

10 Banks Lose N187.81bn In Share Value

Published

5 years ago

May 3, 2021

Ten of Nigeria’s commercial banks posted stock losses in the first three months of this year as N187.81bn was wiped off their combined market capitalisation, an analysis of data from the Nigerian Exchange Limited has shown.
The affected banks are United Bank for Africa Plc, Zenith Bank Plc, Access Bank Plc, Ecobank Transnational Incorporated, Union Bank of Nigeria Plc, Fidelity Bank Plc, Wema Bank Plc, FCMB Group Plc and Jaiz Bank.
Four banks, namely FBN Holdings Plc, Guaranty Trust Bank Plc, Stanbic IBTC Holding Plc, and Unity Bank Plc saw their market value increase in Q1.
The shares of UBA, Zenith and Access fell by 18.49 per cent, 9.07 per cent and 4.98 per cent respectively in the first quarter of 2021, erasing from each bank’s market value N54.71bn, N70.64bn and N16bn.
Zenith saw its market value fall to N707.99bn on March 31 from N778.63bn at the end of last year as its share price dropped to N22.55 from N24.80.
The market value of Access Bank dipped to N284.36bn at the end of March from N300.36bn as of December 31 as its share price fell to N8 from N8.45, while UBA’s market value dropped to N241.11bn on March 31 from the N295.82bn at which it closed in December.
The market capitalisation of Union Bank dropped by N1.45bn to N154.34bn as its share price fell to N5.30 from N5.35, while Ecobank Transnational Incorpo-rated’s market value declined by N17.42bn to N92.67bn as its share price fell to N5.05 from N6.00.
Sterling Bank Plc saw its share price dip to N1.70 from N2.04, making its market capitalisation reduce by N9.79bn to N48.94bn, while Fidelity Bank Plc’s market capitalisation fell by N3.77bn to N69.25bn as its share price fell to N2.39 from N2.52.
The market value of Wema Bank Plc declined by N4.63bn to N21.99bn as its share price fell to N0.57 from N0.69, while FCMB Group Plc saw its market value reduced by N8.51bn to N57.43bn as its share price dropped to N2.90 from N3.33.
The market value of Jaiz Bank Plc dropped by N890m to N18.56bn as its share price declined to N0.63 from N0.66, while GTB, the country’s biggest bank by market cap, boosted its market value by N14.72bn in the three-month period to N966.81bn. Its share price closed at N32.85 on Mar. 31, up from N32.35 in December.

Stanbic IBTC saw its market value increase to N569.18bn from N489.22bn as its share price rose to N51.25 from N44.05, while FBN Holdings, the holding company of First Bank of Nigeria Limited, boosted its market value to N260.24bn from N256.65bn as its share price rose to N7.25 from N7.15.
Unity Bank Plc’s market value rose by N1.29bn to N8.77bn as its share price increased to N0.75 from N0.64.

Transport

Automated Points Concession : FAAN Workers Gave 72hrs To Revise Decisions In PH

Published

4 hours ago

March 2, 2026

The Tide

The trapatriate Unions conprising the National Union of Air Transport Employees (NUATE), and the Air Transport Service Senior Staff Association of Nigeria, (ATSSSAN), has given 72 hours Ultimatum to Federal Airport Authority of Nigeria FAAN, Omagwa Airport, Portharcourt to revise its recent decision on the concession of Tollgates and Parks to private hands.

The chairman of the Trapatriate Union, Comrade Felix Ohwoefe gave the Ultimatum yesterday immediately after the joint Unions meeting held at the Airport office of the union, Omagwa, Portharcourt.

Comrade Ohwoefe who double as the chairman of the National Union of NUATE said the two Unions have agreed to take drastic actions if the Authority of the Airport declined to step down it’s decision of concessioning the major revenue points to private hands.

According to the Union chairman, the two union was not aware of the concession plans, and that there were no due process to the procedures.

Comrade Ohwoefe said any attempt for the Airport Management to decline it’s demands towards the concession will result to barricading all entrance and access points of the Airport.

Expressing the the challenges associated to the concession, the Union Chairman said the gesture might resulted to massive sack of workers in the Airport.

The chairman also expressed foul play on the part of either individuals or government in the terms and conditions so given to the concessionaires, demanding the reasons of contracting the automated points to private hands for only 14 millions, when the FAAN is presently generating over 28 million naira monthly, even when the tariff was not reviewed upwards.

He describes the process to the procedures as fraud with intention to increase unemployment in the state.

“We are not against the concession of the Automated points, but due process must be followed. If government is concessioning the place, we are asking what will happen to our workers in the existing units.

“Secondly, if the concessionaires is taken over, they must pay higher than what the FAAN is generating presently, we are generating to the Management over 28 Millions monthly, but we had that the private company is required to pay only 14 Millions monthly, which is far below 5 percents of what we are generating presently, even when the tariff is increased, which means there is a foul play.

“The process is fraud either on the part of individual in the Government, or Government itself.

” The unions is saying no to the Concession until we come to a terms of understanding ourselves., we are afraid of loosing workers, we don’t want to loose any workers if due process is not followed in this hard of economy, we even demanding for employment of more workers in FAAN.” Comrade Ohwoefe said.

The Union used the opportunity to called on the minister of aviation, and the President of the Country, Bola Tinubu to intervene.

When contacting the Management of the Airport Authority through the head of Corporate Affairs, Dr Ngozi V. Onyeanwuna-Nwosu, she said the management has not given her the approval to say something.

Transport

FAAN Announces Pick-Up Points for Go-Cashless Cards

Published

4 hours ago

March 2, 2026

The Tide

The Federal Airports Authority of Nigeria (FAAN) has announced designated pick-up points for individuals wishing to obtain their Go-Cashless cards ahead of the March 1, 2026 deadline.

This was announced in a statement signed by the Director Public Affairs and Consumer protection, Henry Agbebire and made available to the Tide last Friday in Portharcourt.

According to the statement, Go-Cashless cards is at all FAAN commercial offices and access gates of Airports in the country .

The release further stated that cards will also be available at designated branches of Fidelity Bank Plc from March 16, 2026.

FAAN in the statement said the cashless policy followed the Federal Government directive mandating all Ministries, Departments and Agencies (MDAs) to transition to a cashless system to enhance transparency and reduce revenue leakages as well improve transaction traceability in the Aviation sector.

FAAN reiterated its commitment to full compliance with the directive, appealing to the public for their understanding and cooperation during the transition period.

FAAN also inform that the Go-Cashless cards can still be obtained at the designated points after the March 1, deadline.

The Authority assures airport users that the initiative will promote faster, safer, and more convenient transactions across its airports nationwide.

By: Enoch Epelle

Business

Fidelity Bank To Empower Women With Sustainable Entrepreneurship Skills, HAP2.0

Published

3 days ago

February 27, 2026

The Tide

Leading financial institution, Fidelity Bank Plc, has announced the launch of the second edition of its flagship women-empowerment initiative, the HerFidelity Apprenticeship Programme 2.0 (HAP 2.0).

According to the report, the programme is designed to equip women with practical, income?generating skills and structured pathways to entrepreneurship.

Accordingly, the HAP 2.0 will build on the success of its inaugural edition held in 2023.

During media chat with journalists to herald the launch of HAP 2.0, the Divisional Head, Product Development, Fidelity Bank Plc, Osita Ede, explained that the initiative has been enhanced to deliver greater impact.

He said HerFidelity Apprenticeship Programme 2.0 reflects their commitment to continuous improvement, having evaluated feedback from the first edition, they have returned with stronger partnerships and deeper mentorship programmes to ensure that women acquire not just skills, but sustainable economic opportunities.

Mr Ede, who said the programme is guided with real?world learning, also said that participants will undergo intensive apprenticeship training under reputable institutions and industry experts across selected fields such as hair styling, shoe making, auto mechatronics, and interior decoration.

Additionally, he said HerFidelity Apprenticeship Programme 2.0 goes beyond skills acquisition by offering participants a wide range of business advisory services.

These include business and financial literacy training, mentorship support throughout the apprenticeship journey, access to Fidelity Bank’s women?focused and SME financial solutions, as well as guidance on business formalisation and growth strategies.

Emphasizing the bank’s vision further, Ede said: “By integrating structured mentorship with entrepreneurial development, Fidelity Bank is positioning women not just as trainees, but as future employers, innovators, and economic contributors within their communities.

This aligns with our mandate to help individuals grow, businesses thrive, and economies prosper”.

It is noteworthy that interested participants are encouraged to indicate their interest by visiting https://bit.ly/Apprenticeshipbyherfidelity.

It is important to note that Fidelity Bank Plc is ranked among the best banks in Nigeria, with a full-fledged Commercial Deposit Money Bank serving over 10 million customers through digital banking channels, with 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

It is reported that the Bank is a recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards, the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine.

By: Nkpemenyie mcdominic, Lagos