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Economy
The Government of Denmark has pledged continued support for the development of Nigeria’s maritime sector while expressing readiness to explore new areas of economic collaboration. This commitment was made by the Danish Ambassador to Nigeria, Mr. Jens Ole Bach Jansen, during his courtesy visit to the headquarters of the Nigerian Maritime Administration and Safety Agency ...
Capital Market
Investors in the Nigerian equities market lost N472 billion at the close of trading on Monday, starting the week on a bearish note. The downturn was driven by declines in the share prices of key stocks such as Linkage Assurance, RT Briscoe, and NAHCO, among others, on the trading floor. The All-Share Index (ASI) fell ...
Business Direct
Access Holdings Plc has vested shares valued at approximately ₦958 million to 689 employees as part of its ongoing Restricted Share Performance Plan (RSPP), a long-term incentive program aimed at rewarding sustained performance and retaining top talent across the group. According to a corporate filing by the group on the Nigerian Exchange Limited (NGX), a ...
Money market
The Managing Director and Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), Mr. Thompson Oludare Sunday, has said that the Corporation now operates under stronger and more effective laws that empower it to prosecute individuals responsible for bank failures and enhance its bank liquidation mandate. Mr. Sunday made this known when he received the ...
Money market
The Securities and Exchange Commission (SEC) has approved Ellah Lakes Plc’s ₦235 billion public offer, paving the way for the company to raise capital for its planned acquisition of Agro-Allied Resources & Processing Nigeria Ltd. (ARPN). The approval marks a significant milestone in the company’s growth trajectory as it seeks to expand its agro-industrial footprint ...
Money market
Nigeria’s stock market suffered a significant setback on Wednesday, recording its sharpest daily decline since the beginning of November, as the benchmark index dropped by 1.19 percent. The downturn extended the market’s losing streak to three consecutive sessions, wiping out a total of over N2.1 trillion in value within the period. The latest decline was ...
Business Direct
Chairman of Odu'a Investment Company Limited (OICL), Otunba Bimbo Ashiru has disclosed that the Group is embarking on a new phase of transformation aimed at consolidating assets, improving profitability, and deepening its role in Nigeria’s economic development. Speaking in an interview monitored ny NewsDirect, the Group Managing Director, Otunba Bimbo Ashiru, said, “Our current focus is on ...
Maritime and Blue Economy
The Federal Government has set an ambitious target to significantly enhance Nigeria's global trade competitiveness, declaring its intent to position Nigerian ports among the top three most efficient trade gateways in Africa by 2026. Vice President Kashim Shettima made this known during the second meeting of the Ports and Customs Efficiency Committee held at the Presidential ...
Business Direct
•Investors lose N247bn as threat triggers market sell-off The Centre for the Promotion of Private Enterprise (CPPE) has raised concerns over the potential economic fallout of the recent threat of military action against Nigeria by former U.S. President Donald Trump. The policy think-thank warned that the threats by the American President could undermine investor confidence ...
Business Direct
The Nigerian Maritime Administration and Safety Agency (NIMASA) has accredited 27 registered shipyards across the country as part of its ongoing drive to enhance safety, operational efficiency, and compliance in the nation’s maritime industry. According to a statement issued by the NIMASA, Deputy Director/Head, Public Relations, Osagie Edward, FNIPR, the accreditation exercise was carried out ...
Story behind the figures
Ecobank Transnational Incorporated (ETI) has reported a strong financial performance for the third quarter ended September 30, 2025, with pre-tax profit rising by a remarkable 47 per cent year-on-year to ₦394.6 billion, up from ₦268.5 billion recorded in Q3 2024. The pan-African banking group also posted a 48 per cent rise in profit after tax ...
Capital Market
Fidelity Bank Plc, in partnership with the Nigerian Conservation Foundation (NCF), has donated three large recycling bins to Yaba College of Technology (YABATECH), Lagos, to promote environmental sustainability and encourage recycling among students. The donation was a highlight of the 2025 "Walk for Nature" event, which took place at the institution over the weekend. The ...
Business Direct
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, alongside three Deputy Governors of the Central Bank of Nigeria (CBN), was on Saturday conferred with Honorary Fellowships of the Chartered Institute of Bankers of Nigeria (CIBN) in recognition of their outstanding contributions to the nation’s financial sector. The awards were presented ...
Business Direct
…as Revenue rises 43% in nine months Aradel Holdings Plc has reported strong financial results for the nine months ended September 30, 2025, with profit after tax surging by 122 per cent to N245.1 billion, driven by solid revenue growth and robust performance across its energy segments. According to the unaudited financial statements filed with ...
Money market
Nigeria’s plan to allow the Central Bank of Nigeria (CBN) to take over operations of the nation’s fixed-income market is likely to be withdrawn following objections from key government institutions, Bloomberg has reported. According to the report, the Ministry of Finance, the Securities and Exchange Commission (SEC), and the CBN are currently reviewing the proposal, ...
Money market
...says Kogi becoming more attractive to investors Kogi State Governor, Alhaji Ahmed Usman Ododo, on Thursday commissioned the Lokoja branch of Premium Trust Bank, marking the bank’s formal entry into the state’s financial landscape and reaffirming his administration’s commitment to creating a thriving business environment. Speaking at the event, Governor Ododo commended Premium Trust Bank ...
Business Direct
The Nigerian Electricity Regulatory Commission (NERC) has urged the Federal Government to prioritize powering industrial hubs in the utilization of the over $2 billion renewable energy funding pool available through the Rural Electrification Agency (REA). Speaking at the Commission’s 20th anniversary in Abuja on Thursday, Musiliu Oseni, Vice Chairman of NERC, said that while the funds ...
News
The House of Representatives has approved President Bola Tinubu’s request to borrow $2.35 billion to finance part of Nigeria’s 2025 budget deficit. The lawmakers, during Wednesday’s plenary, also endorsed the President’s plan to issue a $500 million debut sovereign sukuk in the international capital market to fund infrastructure projects and diversify the country’s financing sources. ...
Business Direct
Guaranty Trust Holding Company Plc (GTCO Plc) has announced a Profit before tax (PBT) of ₦900.8 billion for the third quarter ended September 30, 2025, reflecting strong growth in core earnings driven by higher interest and fee income. According to its unaudited financial statements submitted to the Nigerian Exchange Group (NGX) and London Stock Exchange ...
News
… As UASC calls on African nations to strengthen maritime cooperation The minister of Marine and Blue Economy, Adegboyega Oyetola has reaffirmed Nigeria’s commitment to the full implementation of the African Continental Free Trade Area (AfCFTA), calling for greater regional collaboration and fairness in maritime trade practices across West and Central Africa. Speaking at the ...
