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The Centre for the Promotion of Private Enterprise (CPPE) has warned Central Bank of Nigeria’s Monetary Policy Committee (MPC) ahead of its 305th meeting, cautioning against any further tightening of monetary policy. CPPE Chief Executive Officer, Dr. Muda Yusuf, stated that additional interest rate hikes could severely damage Nigeria's fragile economic growth, stifle private sector ...
OPay, a leading fintech company in Nigeria, has donated educational materials to over 1,000 students, including 40 students with disabilities, in Osun State through its Play4aChild Initiative, in collaboration with Do Good Charity Back-To-School project, reaffirming its commitment to education, youth development, and community empowerment. The outreach saw students across Osogbo Grammar School, Oloofa Grammar ...
President Bola Tinubu, Managing Director of International Finance Corporation, Mr. Makhtar Diop, Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele and Managing Director of Bank of Industry, Supo Olusi, on the sidelines of the Africa CEO summit in Kigali, Rwanda
The Nigerian equities market retreated into negative territory at the close of trading, as the benchmark All-Share Index (ASI) declined by 10 basis points. Despite this marginal contraction, the market maintains a robust long-term trajectory, with the year-to-date (YTD) return standing firmly at 62.10%.Market liquidity saw a significant cooling period during the session. Trading volume ...
By Taiye Olayemi Two subsidiaries of Heirs Insurance Group have been listed in the 2026 Financial Times ranking of Africa’s Fastest-Growing Companies. The group disclosed this in a statement on Thursday in Lagos. The group also said that the recognition was due to its expanding presence in Africa’s insurance industry. According to the statement, Heirs ...
The Green Finance Investment Facility (GFiF), a blended finance platform to mobilise large-scale private and institutional investment into distributed renewable energy infrastructure across Nigeria, has been officially launched. The facility, led by Barton Heyman Limited in partnership with the Rural Electrification Agency (REA), UK PACT, First City Monument Bank (FCMB), and ARMHIIL, aims to raise ...
By Damilare Adeleye Dangote Cement Plc has disclosed plans to explore a potential secondary listing on the London Stock Exchange (LSE) as part of a strategy to broaden its access to international capital and deepen its pan-African footprint. In a notice filed with the Nigerian Exchange Limited (NGX) and dated May 12, 2026, the cement ...
By Damilare Adeleye French President Emmanuel Macron has launched the Africa House in Nairobi, Kenya. This is as the Chairman of BUA Group, Abdul Samad Rabiu pledged the support of Africa's private sector leaders for the project. Speaking at the Africa Forward Summit, the Nigerian billionaire industrialist described the project as a vital platform for collaboration, dialogue, ...
Acting Managing Director of 11Plc, formerly Mobil Oil Nigeria Plc, Mr. Osagie Ogedegbe has pledged to increase the company’s market share and increase value for Shareholders. The Acting MD made this known when he made his maiden public appearance during the company’s 48th Annual General Meeting at the Abuja Continental Hotel. Mr. Ogedegbe, a seasoned executive with ...
The Nigerian equities market maintained its upward trajectory as the benchmark index advanced by 0.41%, pushing the year-to-date return to an impressive 55.98%. This bullish momentum was underscored by a robust market breadth, with forty-seven gainers comfortably outpacing twenty-two decliners, while fifty-eight stocks remained unchanged. Such widespread gains suggest a resilient underlying sentiment that persists ...
The Nigerian financial sector witnessed a dramatic surge in system liquidity, which expanded sharply to ₦6.62 trillion from a previous position of ₦1.18 trillion. Despite this massive influx of capital, the money market experienced a slight tightening as the Overnight rate edged upward by 4 basis points to settle at 22.17%. In contrast to this ...
First HoldCo Plc has announced its audited financial results for the year ended December 31, 2025, reporting a 6.9% increase in gross earnings to ₦3.4 trillion. The results reflect a year defined by robust core interest income growth balanced against a decisive reset of the Group’s balance sheet to manage systemic impaired exposures. The Group’s ...
Transnational Corporation Plc has declared a total dividend of ₦20,323,995,148, representing ₦2.00 per share to its shareholders, at its 20th Annual General Meeting (AGM), held at the new state-of-the-art Transcorp Centre Abuja. The total dividend comprises an interim dividend payment of ₦4,064,799.030, representing 40 kobo per share, paid in August 2025, together with a final dividend of ₦16,259,196,118, equivalent to ₦1.60 per share. At ...
The Central Bank of Nigeria (CBN) has cautioned state governments against their growing reliance on short-term borrowing and bank overdrafts. In a statement released on Sunday, the apex bank warned that undisciplined fiscal behavior at the sub-national level poses a significant threat to Nigeria’s transition toward an inflation-targeting monetary framework. The warning followed a strategic engagement between the CBN ...
The African Development Bank (AfDB) Group has approved a 61 million dollars financing package to expand access to affordable credit for women-owned and women-led businesses in Nigeria. This is contained in a statement released by the bank on Friday in Abuja. The package, approved by the bank’s Board of Directors, will be channelled through the ...
First City Monument Bank (FCMB) has opened a new round of applications for its SheVentures proposition, offering zero-interest loans of up to ₦10 million to women entrepreneurs to ease access to working capital and support business growth. The facility provides loans ranging from ₦500,000 to ₦5 million under a general category, and ₦5 million to ...
The Nigerian Naira maintained a steady performance in the official Nigerian Foreign Exchange Market (NFEM) during the most recent trading session, closing at N1,361.00 to the US Dollar. Data released by the Central Bank of Nigeria (CBN) on May 5, 2026, indicates that the local currency experienced a slight appreciation from the previous day's closing ...
Access Holdings Plc has informed investors that it may skip the payment of an interim dividend for the first half of 2026 as the financial services group moves to address a significant regulatory breach concerning its foreign investments. The disclosure was made during an earnings call on May 5, 2026, where the group detailed the ...
At its 35th Annual General Meeting (AGM) held on May 5, 2026, Zenith Bank Plc reached a historic milestone, approving a total dividend of ₦10.00 per share for the 2025 financial year. This 100% increase from the previous year translates to a total payout of ₦410.69 billion, following a final dividend approval of ₦8.75 per ...
By Fredrick Ameh The World Trade Organization (WTO) and the ECOWAS Community Court of Justice have held engagements aimed at harmonizing legal mechanisms for resolving trade disputes. The engagements held at the WTO headquarters, focused on bridging the gap between regional judicial systems and global trade rules while advocating for a progressive overhaul of the ...
At the 35th Annual General Meeting (AGM) of Zenith Bank Plc, which took place on Tuesday, May 5, 2026, at the Civic Centre, Victoria Island, Lagos, shareholders approved the proposed final dividend payment of ₦8.75 per share, bringing the total dividend for the 2025 financial year to ₦10.00 per share, with a total value of ...
By Damilare Adeleye Shareholders of MTN Nigeria Communications Plc have approved a final dividend of ₦314.93 billion for the 2025 financial year, alongside a proposed structural separation of the business. The decisions were reached at the company’s Annual General Meeting (AGM) held virtually on April 30, 2026, where members endorsed a payout of ₦15 per ...
The Nigerian National Petroleum Company (NNPC) Limited has posted a revenue of ₦2.774 trillion and a profit after tax of ₦276 billion for March 2026, even as pipeline disruptions and infrastructure constraints continued to impact overall production. According to the company’s latest monthly report, crude oil and condensate production rose slightly to 1.56 million barrels ...
