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Oceanic Bank Named Best in Nigeria

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Oceanic Bank International Plc has won the coveted ‘Best Bank in Nigeria’ awards. This was pronounced by EMEAfinance, the UK-based financial intelligence magazine covering Europe, Middle East and Africa.
Oceanic Bank emerged best bank in Nigeria among the hordes of banks nominated for the award at the magazine’s maiden African Bank Awards luncheon held in London recently.
Oceanic Bank, according to EMEAfinance, won the awards on account of “robust growth in its asset base, profitability, return on equity, regional expansion, among others. The feat achieved by the bank, according to a statement issued by EMEAfinance, is coming on the heels of similar award of Bank of the Year in 2006 and 2007 consecutively – an award instituted by The Banker magazine, a subsidiary of the Financial Times of London.
Speaking at the award ceremony in London, Publisher/CEO of EMEAfinance magazine, Christopher Moore, described Nigeria’s banking sector as the most dynamic in Africa. “The story of African banking over the last 12 months has, in some ways, been the story of Nigeria,” he said.
Declaring Oceanic Bank as an outstanding financial conglomerate with consistent impressive performance record, EMEAfinance noted: “Our winner of the best bank award – Oceanic Bank, has seen its gross earnings grow by an annual average of 65 percent every year since 2004. Its assets tripled last year. Profit before tax also more than doubled last year.”
The magazine also noted that Oceanic Bank’s shareholders’ funds grew by around seven times last year, while the bank recorded the lowest cost-to-income ratio of its peers, at just 56 per cent, for the period under review.
"Oceanic Bank has expanded its branch network aggressively, from 53 branches in 2004 to 320 business offices as of September 2007. It has accelerated its international expansion, with offices and affiliates open in Ghana and Gambia and operations opening soon in Liberia, Cameroon, Sierra Leone, Chad and Sudan," the magazine added.
Receiving the award, Cecilia Ibru, Oceanic Bank’s managing MD/CEO, said the recognition was yet another testimony to the bank’s consistent impressive performance over the years.
She dedicated the award to the Bank’s staff, noting that their expertise and commitment to excellence and best practices had given the Bank a competitive edge that has made it a top player in the nation’s financial services sector.
“Oceanic Bank remains committed to pioneering innovative changes in the finance sector and partnering the government and all sectors in the task of building a stronger Nigeria,” she said.
She also informed that the bank is building lasting structures and devising strategies that will make it possible for many more Nigerians to have access to job opportunities.
According to Julia Evans, editor of EMEAfinance, “Oceanic Bank’s profitability history and consistent high return on equity clearly demonstrates the bank’s leading position in Nigeria’s financial services sector, and one with huge prospects to compete effectively in the global markets.”
“At a time when financial institutions across the globe are experiencing challenges, Oceanic Bank is showing clear signs of solidity and huge prospects of emerging as a global brand,” he added.


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NigComSat-1R, Nigeria’s Only Satellite to Expire this Year

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NigComSat-1R, a Nigerian geostationary communications satellite will outlive its usefulness this year, meaning that the satellite will expire anytime now.

NigComSat-1R, Nigeria’s Only Satellite to Expire this Year

NigComSat-1R was launched by China Great Wall Industry Corporation (CGWIC) for Nigeria on December 19, 2011, as a replacement for the failed NigComSat-1.

NigComSat-1 which was put in the orbit in May 2007, was de-orbited in November 2008 following the development of power fault.

It was replaced with NigComSat-1R by the same company and has a lifespan of 15 years.

Positioned at 42.5°E, it provides C, Ku, Ka, and L-band services across Africa, Europe, and parts of Asia for broadcasting and internet.

Should the satellite fail, support for television broadcasting, internet connectivity, and secure communications for government and private sectors, may be affected.

The satellite is currently been controlled from China since 2019 following technical issues with the Abuja control station.

NigComSat-1R is currently the only active communications satellite managed by NIGCOMSAT Limited, though it operates alongside other Nigerian observation satellites.

 

 


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Banks, Offices to Close for Thursday and Friday for Eid-el-Fitr

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Federal government has declared Thursday, March 19, and Friday, March 20, as public holidays to mark this year’s Eid-ul-Fitr celebration.

Banks, Offices to Close for Thursday and Friday for Eid-el-Fitr

Consequently, banks, schools and offices nationwide will be shut for the two days.

The declaration was made by Olubunmi Tunji-Ojo, minister of Interior, on behalf of the government, according to a statement issued on Tuesday, by Magdalene Ajani, permanent secretary of the ministry.

Eid-el-Fitr, meaning ‘festival of breaking the fast,’ is one of the most important feasts in Islam.

The festival marks the end of Ramadan, a sacred month of fasting, prayer, and spiritual reflection observed by Muslims worldwide.

During Ramadan, Muslims fast from dawn to sunset, abstaining from food, drink, and other physical needs as an act of devotion to Allah.

Eid-el-Fitr is a time of joy and gratitude, beginning with a special congregational prayer at mosques and open prayer grounds.

It is also marked by feasting, gift-giving, and charitable acts, particularly the giving of Zakat al-Fitr, a mandatory charity given to the less privileged before the Eid prayer.

Congratulating Muslim faithful on the successful completion of Ramadan, Tunji-Ojo urged them to sustain the virtues of love, generosity, peace, tolerance, and sacrifice imbibed during the period.

He also called on Nigerians to use the festive season to pray for the peace, unity, and continued development of the country.

The minister further encouraged citizens to celebrate responsibly and extend acts of kindness to the less privileged, in line with the spirit of the season.

He reiterated the Federal Government’s commitment to promoting national unity and peaceful coexistence among all Nigerians.


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New Horizons Nigeria Expands Digital Access with New Retail Centre in Akute

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Residents of Akute and surrounding communities now have direct access to world-class technology training following the launch of a new retail center by New Horizons Nigeria.

New Horizons Nigeria Expands Digital Access with New Retail Centre in Akute

Mr. Tim Akano

The newly commissioned center, strategically located in Akute, is expected to serve learners and professionals across Alagbado, Ajuwon, Matogun, Lambe, Ojodu-Berger, Isheri, Giwa, Iju-Ishaga, Ishasi, and Oke-Aro.

This initiative has brought internationally recognized ICT training closer to thousands of young people and working adults. For years, distance and accessibility have limited many aspiring tech professionals from enrolling in structured, global-standard programs. With this expansion, residents no longer need to travel long distances to acquire in-demand digital skills.

New Horizons Nigeria, widely recognized as Africa’s largest ICT training organization, continues to strengthen its footprint in Nigeria’s digital education sector.

In 2025, the institution received the prestigious Best ICT Training Company award from CompTIA in South Africa. This further reinforce its leadership position within the continent’s technology training ecosystem.

As a franchise of New Horizons International, which operates in over 90 countries across six continents, the organization has consistently aligned with global best practices while addressing local capacity gaps.

The organization currently provides ICT training services to more than 30 universities and nearly 200 high schools nationwide.

The center would be used for the training of high-end technical courses like Cyber Security, Web Development, Artificial intelligence, Full Stack, Graphics and CompTIA courses like Hardware, Network and Security Plus.

New Horizons trains over 100,000 students yearly across 27 universities and 150 secondary schools, as well as corporate organizations, government agencies and retail offices.

Students trained by New Horizons Nigeria are always well-sought after in the labour market after graduation and the certificate they obtain are recognized in all the 90 countries where New Horizons have offices.

Speaking on the broader vision behind the expansion, the Founder and Chief Executive Officer, Mr. Tim Akano, emphasized that the future of the nation’s economy depends largely on accessible and practical tech education.

He noted that in today’s digital economy, virtually 100 percent of jobs require some level of IT skill, regardless of one’s field of study. From finance and healthcare to agriculture, media, engineering and public administration, technology now drives productivity and competitiveness.

He further stated that IT has evolved from being a specialized field to becoming a foundational requirement for career growth and wealth creation. Acquiring digital skills, he stressed, remains one of the most strategic pathways to higher earning potential and long-term financial stability.

Furthermore, he stated that young Nigerians considering relocation abroad need to prioritize acquiring IT skills before traveling.

He asserted that obtaining internationally relevant technology training outside Nigeria is significantly more expensive than enrolling locally.

By gaining these skills locally, individuals position themselves for better opportunities overseas. Rather than struggling to survive in low-paying or unrelated jobs, they can compete as skilled professionals in global labour markets.

Also, holding a globally recognized certifications from New Horizons Nigeria gives candidates a competitive edge, and enhances their credibility and employability abroad.

As of January 2026, New Horizons Nigeria and its CEO have collectively received over 320 national, continental, and international awards, making them one of the most decorated institutions and individuals in Nigeria’s technology, entrepreneurship, and youth empowerment space.

The launch of the Akute retail center signals more than physical expansion; it represents a deliberate effort to democratize access to technology education at the grassroots level. With increasing demand for skills in cybersecurity, cloud computing, artificial intelligence, software development, and digital business solutions, the new center is positioned to become a hub for digital transformation within Ogun State and its border communities.


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