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Money market
Investors on the Nigerian Exchange Limited (NGX) recorded a significant windfall last week, with the market gaining a total of N2.4 trillion to close the capitalisation at N93.7 trillion. The bullish momentum saw the market close positive in four out of five trading sessions, reflecting renewed investor appetite. The benchmark All-Share Index (ASI) appreciated by ...
Money market
FCMB Group Plc has reported a robust financial performance for the nine months ended September 30, 2025, posting a 52 per cent increase in Profit After Tax (PAT) to N125.4 billion. The Group also highlighted significant progress in its recapitalisation efforts ahead of the Central Bank of Nigeria’s March 2026 deadline. The financial holding company ...
Digital Economy
The Corporate Affairs Commission (CAC) has warned that it will blacklist fintech companies aiding the operations of unregistered Point of Sale (PoS) agents in Nigeria, as part of a renewed regulatory crackdown on illegal PoS activities. The warning was issued in a statement released by the Commission over the weekend. The latest directive comes nearly ...
Story behind the figures
Access Holdings Plc has demonstrated resilience and strategic agility in its third-quarter (Q3) 2025 performance, leveraging an aggressive pan-African expansion strategy to deliver robust top-line growth despite a challenging economic terrain. In results released on October 30, 2025, the Group presented a positive but nuanced picture. While operations across Africa provided significant momentum driving substantial ...
Economy
Ellah Lakes Plc has announced the extension of its ongoing public offer of 18.8 billion ordinary shares at ₦12.50 per share, following approval from the Securities and Exchange Commission (SEC). The Offer, initially set to close on Friday, December 5, 2025, will now remain open until Friday, December 19, 2025. According to the Company, the ...
Capital Market
United Bank for Africa (UBA) has unveiled a major strategic partnership with Lions Group, a leading entertainment and lifestyle company, to deliver exclusive benefits to customers and visitors during the highly anticipated ‘Welcome to the Detty Side’ festive campaign. The collaboration, designed to elevate December celebrations with premium entertainment experiences, will grant both existing and ...
News
The Chartered Institute of Bankers of Nigeria (CIBN) has joined the global community in celebrating the International Day of Banks, an annual United Nations designated observance that underscores the crucial role banks play in promoting sustainable development, economic growth and financial inclusion. In a statement issued by its President and Chairman of Council, Prof. Pius ...
Economy
The Central Bank of Nigeria (CBN) has announced a major overhaul of the nation’s cash withdrawal framework, discontinuing the special authorisation that previously allowed individuals to withdraw up to N5 million and corporate bodies N10 million once a month. The new rules take effect from January 1, 2026. In a circular issued Tuesday, December 2, ...
News
The Lagos State Government has congratulated President Bola Ahmed Tinubu and the Minister of Marine and Blue Economy, Adegboyega Oyetola, on Nigeria’s remarkable return to Category C of the International Maritime Organization (IMO) Council. In a congratulatory message issued on behalf of the state government, Lagos State Governor, Babajide Sanwo-Olu, described the achievement as a ...
Business
President Bola Ahmed Tinubu has disclosed that the aviation sector now has a contribution of 2.5 percent to the nation's Gross Domestic Product (GDP). Speaking at the Nigerian International Air Show in Abuja, President Bola Ahmed Tinubu, represented by Secretary to the Government of the Federation (SGF), George Akume counted the gains and reforms in the aviation ...
Energy
The Federal Government has commenced the 2025 Licensing Round, unveiling 50 new oil and gas blocks in a major push to deepen reserves and attract an estimated $10 billion in foreign and domestic investment. At the official launch on Monday, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) confirmed that the assets on offer include 15 ...
Business
...warns of job losses, economic disruptions The Centre for the Promotion of Private Enterprise (CPPE) has raised strong objections to the proposal by the Senate Committee on Finance to amend the Customs and Excise Act to increase excise duty on non-alcoholic beverages, warning that the move could undermine Nigeria’s fragile economic recovery and trigger widespread ...
Business
Nigeria’s Gross Domestic Product (GDP) rose by 3.98 per cent year-on-year in the third quarter of 2025, marking a slight improvement over the 3.86 per cent recorded in the same period of 2024. The latest figures were released by the National Bureau of Statistics (NBS), highlighting broad-based growth across key productive sectors and a continued ...
News
Sahara Group has deepened its environmental sustainability drive with a strategic partnership between its flagship Adopt-A-Forest Initiative and the Gelegele Forest Reserve in Edo State, Nigeria. The collaboration, which formally commenced with the planting of 20,000 tree seedlings, aims to restore degraded sections of the forest and strengthen Sahara’s long-term commitment to nature-based climate solutions. ...
News
The Sahara Group Foundation (SGF), the social impact arm of Sahara Group, has awarded more than USD 130,000 in grants to 20 exceptional African EXTRApreneurs under the 2025 Sahara Impact Fund (SIF) Cohort 4 and the Making A Difference Around Africa (MADAA) initiatives. For nearly two decades, the Foundation has championed sustainable development across the ...
News
The Nigerian Railway Corporation (NRC) has applauded the judgment of the Federal High Court in Ikoyi, Lagos, which convicted and sentenced two railway vandals to two years imprisonment each for tampering with critical components of the Warri–Itakpe rail corridor. The convicts, Mudansuru Mutari (27) and Blorie Kokori (39), were arrested around Kilometer 208 before Abraka ...
News
…Warns of job losses, economic disruptions The Centre for the Promotion of Private Enterprise (CPPE) has raised strong objections to the proposal by the Senate Committee on Finance to amend the Customs and Excise Act in order to increase excise duty on non-alcoholic beverages, warning that the move could undermine Nigeria’s fragile economic recovery and ...
Business
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has outlined the apex bank’s strategic priorities for 2026, declaring that the coming year will focus on strengthening the banking sector, protecting depositors, modernizing payment systems, deepening financial stability, and bolstering Nigeria’s economic resilience. Speaking at the annual Bankers’ Dinner hosted by the Chartered ...
Business
Nigeria’s credit to the private sector recorded a modest rebound in October, rising to N74.41 trillion from N72.53 trillion in September, signaling renewed lending activity following a five-year high interest rate environment. The increase comes after private sector credit had fallen to an 18-month low in September, according to the latest data from the Central ...
Business
Former Vice President Atiku Abubakar has accused the administration of President Bola Tinubu of engaging in massive financial recklessness following reports that the Nigerian National Petroleum Company Limited (NNPCL) spent ₦17.5 trillion on pipeline security and related expenses within one year. In a statement released on Sunday via his X handle, Atiku described the reported ...
