Skip to content
Subscribe

Reporter

Seun Ibiyemi

2,051 stories

  1. News

    Nine months results: FX gains lift Fidelity Bank income, derivative losses pressure profit

    Fidelity Bank Plc delivered strong topline growth in the first nine months of 2025, driven by improved asset pricing, expanding digital income streams, and solid balance-sheet expansion. However, bottom-line performance faced pressure from derivative-related losses triggered by the recent appreciation of the naira, underscoring the volatility inherent in Nigeria’s evolving foreign exchange environment. Revenue growth ...

  2. News

    BUA Group honours 510 employees with ₦30bn cash for long service awards

    BUA Group has disbursed a total of ₦30 billion to 510 employees at its 2025 Night of Excellence and Long Service Awards, one of the most significant employee reward initiatives undertaken by a Nigerian private sector company. The ceremony recognised long service, loyalty, and exceptional contribution by employees whose commitment spans from five years to ...

  3. Business

    CBN targets N825bn in final 2025 domestic debt auctions as yields climb

    The Central Bank of Nigeria (CBN) plans to raise a total of N825 billion from the domestic debt market in the final round of sovereign issuances for 2025, highlighting the Federal Government’s sustained dependence on local borrowing amid elevated yields. The planned fundraise comprises N460 billion in Federal Government of Nigeria (FGN) bonds and N365 ...

  4. Capital Market

    FG to borrow N17.89trn to finance 2026 budget deficit

    The Federal Government has revealed its plan to borrow N17.89 trillion to fund a projected N20.12 trillion budget deficit in 2026. This is according to the 2026 Abridged Budget Call Circular released by the Federal Ministry of Budget and Economic Planning. In the circular seen by NewsDirect, N14.31 trillion, representing 80 percent of the borrowing, ...

  5. Business

    Grant tax incentives to Airline operators to mitigate costs – Reps urge FG

    Members of the Nigerian House of Representatives have urged the Federal Government to reduce airport charges by 50 percent and grant tax incentives to aviation companies to make flights more affordable during the Christmas season. The call followed the adoption of a motion moved by Rep. Obinna Aguocha (LP-Abia) at Thursday’s plenary session. Aguocha highlighted ...

  6. Education

    Dangote launches N100bn annual education initiative to support Nigerian students

    Industrialist and philanthropist Aliko Dangote has unveiled a landmark N100 billion annual education support initiative aimed at transforming education in Nigeria and providing opportunities for students affected by financial hardship. The announcement was made at a ceremony attended by Vice President of Nigeria, state governors, ministers, traditional rulers, senators, and other dignitaries. Dangote described education ...

  7. Economy

    Expert forecasts major economic reset as Nigeria heads into 2026

    …Predicts GDP growth to rise to 4.1% Nigeria could enter 2026 in its strongest economic position in more than a decade, according to Bismarck Rewane, economist and Managing Director of Financial Derivatives Company (FDC). Speaking at the Parthian Economic Discourse 2025 held in Lagos, Rewane said the country is on the verge of a historic ...

  8. News

    FG unveils Blue Economy framework to boost Nigeria’s maritime sector, economic growth

    The Federal Government has launched a new security and economic framework aimed at unlocking Nigeria’s vast marine and aquatic resources under the blue economy. The blueprint was unveiled on Wednesday during a Presidential Parley with participants of Senior Executive Course 47 of the National Institute for Policy and Strategic Studies (NIPSS) at the Presidential Villa, ...

  9. News

    Tinubu seeks Reps approval for 2026–2028 medium-term expenditure framework

    President Bola Tinubu has transmitted the 2026–2028 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) to the House of Representatives for consideration and approval, laying the foundation for the 2026 federal budget. Deputy Speaker, Benjamin Kalu read the President’s letter during Wednesday’s plenary session. The policy documents were previously endorsed by the Federal Executive ...

  10. Money market

    FCMB projects N62.5bn Q1 2026 profit

    FCMB Group Plc has projected a post-tax profit of N62.5 billion for the first quarter of 2026, signaling a 94.08 pet cent increase compared to the N32.2 billion recorded in Q1 2025, according to its recently released earnings forecast. The bank has a consistent history of surpassing its own profit projections. In Q1 2025, FCMB ...

  11. Capital Market

    Reps summons CBN over non-remittance of over ₦16trn revenue

    ...summon bank CEOs over alleged illegal charges The House of Representatives has summoned Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN), alongside other relevant agencies, to appear before its Public Accounts Committee (PAC) on Tuesday, December 16, to explain the non-remittance of over ₦16 trillion in government revenue. The decision follows a motion ...

  12. Capital Market

    Equities market loses N34bn as ASI slips amid share price declines

    Investors in the Nigerian equities market lost N34 billion on Wednesday following declines in key stocks, including Chams Plc, Haldane MCall, and UAC Nigeria. The All-Share Index (ASI) dropped to 146,862 points from 146,940.29 recorded the previous day, while market capitalisation fell slightly to N93.6 trillion from N93.64 trillion. Market activity showed a negative breadth, ...

  13. CRIME

    Comptroller Aliyu takes over Customs FOU Zone ‘A’, pledges intensified fight against smuggling

    Comptroller Gambo Aliyu has officially assumed leadership of the Federal Operations Unit (FOU) Zone ‘A’ of the Nigeria Customs Service (NCS), promising to strengthen intelligence-driven operations against smuggling and other illicit trade activities threatening national security and economic growth. Speaking at the handover ceremony on Wednesday at the unit’s headquarters in Ikeja, Lagos, Aliyu expressed ...

  14. Energy

    NNPC Ltd, Heirs Energies sign gas flare commercialisation agreements for OML 17

    The NNPC/Heirs Energies OML 17 Joint Venture has taken a decisive step toward eliminating routine gas flaring and advancing Nigeria’s energy transition goals with the signing of Gas Flare Commercialisation Agreements under the Nigerian Gas Flare Commercialisation Programme (NGFCP) and approved Non-NGFCP frameworks. The agreements were formalized at a ceremony in Lagos on Tuesday, December ...

  15. Money market

    CBN inaugurates new board for agricultural credit scheme

    The Central Bank of Nigeria (CBN) on Tuesday has inaugurated a revamped board for the Agricultural Credit Guarantee Scheme Fund (ACGSF). The ceremony took place in Abuja, with officials, board members, and industry stakeholders in attendance. Speaking at the event, Cardoso highlighted the persistent financing gap in Nigeria’s agricultural sector, noting that less than 5 ...

  16. Business

    SEC unveils major reforms to boost Nigeria’s capital market efficiency, Digital Transformation

    The Securities and Exchange Commission (SEC) has announced a wide-ranging set of reforms aimed at enhancing market efficiency, deepening investor confidence, and accelerating the digital transformation of Nigeria’s capital market. The initiatives were unveiled by SEC Director-General, Emomotimi Agama, during the second Capital Market Committee (CMC) meeting for 2025, where he also confirmed Nigeria’s roadmap ...

  17. Money market

    Foreign Investment dips as Nigeria pushes reforms to achieve $1trn economy

    Nigeria’s push to become a $1 trillion economy by 2030 is being hampered by declining foreign investment, even as the government implements sweeping macroeconomic reforms. According to a recent report by the Bashir Adeniyi Centre for International Trade and Investment (BACITI) of the Nigerian Institute of International Affairs (NIIA), reforms such as exchange rate unification, ...

  18. Business

    Cashless policy: FG rolls out unified revenue platform

    ...Sets January 2026 deadline for mandatory e-Receipts The Federal Government has launched its most ambitious overhaul of public finance administration in more than a decade, introducing a unified digital revenue platform designed to transform how ministries, departments and agencies (MDAs) collect, track and remit federal funds. The reform anchored on four circulars issued by the ...

  19. Business

    Revenue Leakages: Reps blow hot issues deadline to NNPCL

    The House of Representatives Committee on Public Account has set December 15 as the deadline for the Nigerian National Petroleum Company Ltd. (NNPCL) to appear before it and address alleged revenue leakages. The ruling was made by the committee chairman, Rep. Bamidele Salam, during a hearing on Monday in Abuja, following the NNPCL management’s repeated ...

  20. Business

    Debt service to gulp 46% of revenue in 2026 — CPPE warns

    ​The Centre for the Promotion of Private Enterprise (CPPE) has sounded the alarm over Nigeria’s deteriorating fiscal outlook, warning that nearly half of the nation's projected revenue in 2026 will be swallowed by debt servicing. ​Reacting to the Federal Government’s 2026–2028 Medium-Term Expenditure Framework (MTEF), the think tank described the country’s debt profile as a ...