Since 1945 when it commenced operations, Wema Bank has continued to show sufficient resilience having survived through numerous challenging times and circumstances to stand today as the only surviving bank among its indigenous peers. As at 2014, it operated with a regional banking license with branches spread across some 130 locations.

The Manufacturers Association of Nigeria (MAN) has said that because of insufficient power supply, over 40 per cent of production cost in Nigeria goes into electricity generation by manufacturers. Mr Regard Odiah, a member of MAN and Chairman, Technical Committee on Operationalisation of Micro-Grid for Industrial Initiative, made the statement in Abuja when he presented the report of the committee to NERC.

Fidelity Bank Plc was incorporated in 1987 and commenced business as a merchant banking outfit. It however converted to commercial banking in 1999 following the clamour of wholesale institutions for a level playing ground in the industry. The bank proceeded to list as a public entity in the Nigerian Stock Exchange in 2005. Since then, Fidelity Bank has been on a firm and steady growth trajectory to emerge as one of the admirable institutions in the sector by key stakeholders.

Ecobank Transnational Incorporated emerged in the West African banking landscape to fill a gap that long existed but not explored. Accordingly in 1985, a group of businessmen came together with the political support of the Economic Commission of West Africa States, ECOWAS, and various governments in West Africa to form Ecobank with the aim of playing a financial and economic role towards promoting international trade amongst the countries of the region and with other countries outside the region.

During the 9th Annual General Meeting of Unity Bank Plc to review activities for the financial year ended December 2014, an opportunity was provided for the bank to commend all critical stakeholders for returning the bank to the path of profitability and also sustaining the bank on a journey that started nine years ago with the coming together of nine banks during the Soludo-era consolidation exercise.

Union Bank of Nigeria Plc has unveiled four of its recently redesigned and more modern branches in Lagos state. This is part of the bank’s efforts to continue to deliver superior banking experience to its customers. The branches are located at Oba Akran, Allen, Alausa and the Agege areas of Lagos. Union Bank said the redesigned branches are part of the Bank’s plan to offer “simpler and smarter” banking solutions to customers and prospects. The branches have been exquisitely designed and furnished to wear a sophisticated look.

Sterling Bank is set to increase its customer base by attracting one million new customers in 2016. Managing Director and Chief Executive Officer of the Bank, Mr. Yemi Adeola disclosed this at the annual press conference of the banks, adding the bank will also complete ongoing efforts to raise additional fund to beef up its capital base. He said, “As we get ready to go into 2016, we are focussing on four key areas strategically. The first is to improve our funding and customer counts. We intend to increase our customer base by one million new customers in 2016.”

Oando’s cost-income structure has faltered with a sustaining decline in sales revenue and a continuing rise in costs. Turnover went down by 5.5% year-on-year at the end of September but cost of sales rose by 47%, which led to a 36% fall in gross profit. This has been the trend for the third year running. In 2013, the company lost 30.8% of sales revenue and in 2014, a further loss of 5.6% occurred. Profit drops happened for the second year in 2013 and huge losses have followed for the second year in 2015.

FBN Holdings still towers above the rest of the banks in the industry by revenue but rising credit losses have robbed it of significant profit capacity this year. Impairment charges for credit losses made an upsurge of about 250% year-on-year at the end of the third quarter to stand at N46.64 billion. That has far exceeded the total impairment charges of N25.94 billion the bank made in the whole of 2014.

The Managing Director, Federal Mortgage Bank of Nigeria (FMBN), Alhaji Gimba Ya’u Kumo, said last week that some 68 million Nigerians were improperly housed. Ya’u Kumo stated this in Abuja at a civil society interface organised by Initiative for Leadership and Economic Watch in Nigeria (ILEWN), a civil society organisation.