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The equities market recorded N235 billion gain on Friday at the close of trading, reflecting sustained bullish sentiment among investors. This marked the 3rd consecutive bullish session in the week. The performance underscored renewed investor confidence in the stock market, driven by increased demand for blue-chip stocks and sustained positive market momentum. Market capitalisation rose ...
Beta Glass Plc, West and Central Africa’s leading glass container manufacturer, has declared a Profit After Tax of ₦16.16 billion for the six months ended June 30, 2026, according to its Unaudited Interim Financial Statements released by the Board of Directors. The company recorded a solid financial performance in the second quarter of 2026, generating ...
Sunbeth Global Concepts Limited has been assigned national scale investment-grade credit ratings by SEC-regulated rating agencies Agusto & Co. and Intelligence Africa, affirming the company’s financial stability, operational resilience, and long-term expansion strategy. Agusto & Co. assigned Sunbeth an A2 Short-term rating and a Bbb Long-term rating.Meanwhile, Intelligence Africa issued a first-time rating on July ...
Trading on the Nigerian Exchange ended on a positive note as the equities market halted its two-day declining trend, adding ₦70.62 billion to market capitalization. The benchmark NGX All-Share Index (NGX-ASI) edged up by 0.04%, reflecting renewed buying interest among investors looking to capitalize on attractive entry points across key sectors. The modest gain helped ...
The Central Bank of Nigeria (CBN) says Nigeria’s domestic economy expanded by 3.87 per cent in 2025, an improvement over the 3.38 per cent recorded in 2024. The CBN said this in its recently released annual report for the 2025 fiscal year. According to the apex bank, broad-based growth followed gains from the continuing implementation ...
The Central Bank of Nigeria (CBN) says the recent stability in the foreign exchange market, rising external reserves, easing inflation show, are its ongoing monetary reforms that are producing positive results. The CBN Governor, Dr Olayemi Cardoso, represented by the Acting Director of Corporate Communications and Investor Relations, Mrs Hakama Sidi-Ali, said this on Tuesday ...
The Central Bank of Nigeria (CBN) has attributed the country's rising foreign reserves to renewed investor confidence and sustained capital inflows, saying its ongoing economic reforms are restoring stability to Nigeria's financial system. The Acting Director of Corporate Communications and Investor Relations Department of the CBN, Mrs. Hakama Sidi Ali, made the assertion while delivering ...
The Nigerian equities market reversed its previous gains as investors lost N598.8 billion at the close of trading, driven by sell-offs across key market sectors. This is as the Nigerian Exchange Limited All-Share Index (NGXASI) fell by 0.38% to reflect the broader market downturn. Despite the losses recorded in the stock market, the parallel foreign ...
The Nigeria Revenue Service (NRS) says financial regulators are not opposed to cryptocurrencies but are collaborating to establish a unified framework supporting digital asset growth. This is contained in a statement on Monday by Mr Oni Olushola, NRS Deputy Director and Tax Controller, Non-Resident Persons Tax Office, following the second Nigeria Stablecoin Summit in Lagos. ...
The Debt Management Office (DMO), on behalf of the Federal Government, has announced an offer of two FGN bonds for subscription at N1,000 per unit. According to the DMO, the first offer is two-year FGN Savings Bond due Aug. 12, 2028 at interest rate of 13.96 per cent per annum. The second offer is a ...
By Taiye Olayemi The National Insurance Commission (NAICOM) has confirmed that 43 insurance and reinsurance companies have complied with the new minimum capital requirements stipulated under the Nigerian Insurance Industry Reform Act (NIIRA) 2025. The commission madel this known in a public notice on Monday in Lagos. According to the regulator, the verified companies comprise ...
By Precious Mark Investment banking firm Iroko Capital has cautioned Nigerian businesses against treating the naira’s recent stability and the rise in foreign reserves to $52 billion as permanent, warning that a 21% surge in global oil prices could spark fresh cost pressures. In its August 2026 Boardroom Macro Brief released in Lagos, the firm ...
Guinea Insurance Plc has achieved a significant milestone in its recapitalisation programme, having surpassed the ₦15 billion minimum capital requirement prescribed for non-life insurance companies by the National Insurance Commission (NAICOM), following the successful conclusion of its hybrid capital raising exercise. The Company successfully raised approximately ₦12.6 billion through a hybrid offer comprising a Rights ...
The Centre for the Promotion of Private Enterprise (CPPE) has called for an urgent overhaul of Nigeria’s development-finance framework to address a massive real-sector financing shortfall estimated at over N50 trillion. In a policy brief signed by its Chief Executive Officer, Dr. Muda Yusuf, the think tank highlighted that critical productive sectors including manufacturing, agriculture, ...
The Nigerian equities market rebounded strongly in July, with investors gaining N11.109 trillion as renewed interest in banking stocks lifted the market after the N13.3 trillion loss recorded in June. The rally was driven largely by sustained buying in banking stocks, led by First HoldCo Plc, amid expectations of robust half-year corporate earnings, ongoing bank ...
…as share price rises by 7% Shares of Sterling Financial Holdings Company Plc closed among the five best-performing stocks on the Nigerian Exchange (NGX) on Thursday, gaining 7% even as the broader market extended a two-session sell-off that lowered total equities value by more than ₦1.65 trillion. The benchmark NGX All-Share Index fell 0.66% to ...
Sell-offs in Zenith Bank and Access Holdings dragged the Nigerian Exchange (NGX) lower, wiping out over ₦1 trillion in market capitalization as bearish sentiment dominated trading activities. The downturn was driven by profit-taking and portfolio realignments following recent rallies in the banking sector. Investors offloaded shares in major tier-1 lenders, putting severe downward pressure on ...
United Capital says its microfinance bank has grown its capital base from N200 million at inception in 2024 to N5.6 billion, as it pursues a national banking license and positions for deeper expansion across Nigeria. The Group Chief Executive Officer of United Capital, Mr Peter Ashade disclosed this during the Group’s Investor Relations Roundtable with ...
The Nigerian equities market reversed its recent gains during midweek trading on Wednesday, as widespread sell-offs across major sectors wiped out ₦648 billion in investor wealth. The market downturn was driven by broad-based profit-taking, ending a bullish run and dragging down both the All-Share Index (ASI) and total market capitalization. Market operators noted that the ...
...declares ₦4.28 billion gross earnings in H1 2026 Africa Prudential Plc, a leading Nigerian share registration and capital market solutions provider, has declared its intention to aggressively expand investments in technology-enabled solutions and non-interest revenue lines to secure long-term earnings resilience. The commitment was made during the company’s H1 2026 Investor Call on Tuesday, July ...
Sterling Financial Holdings Company Plc has reported a 20.4% profit after tax (PAT) of ₦50.3 billion. This is as the group’s profit before tax (PBT) rose 21.9% to ₦55.5 billion. This was disclosed in its recently released its unaudited results for the half-year ended 30 June 2026, posting broad-based growth across key performance indices. The ...
...posts 50.1% revenue growth in Nigerian market By Firdaus Jibril Airtel Africa has reported a strong start to its 2026/27 financial year, posting a 31 per cent increase in revenue to $1.85 billion for the quarter ended June 30, 2026, driven by growth in its customer base, rising data consumption and continued expansion of its ...
FCMB Group Plc has announced its unaudited financial results for the half-year ended June 30, 2026, reporting a 99% year-on-year increase in profit before tax to ₦157.3 billion from ₦79.1 billion in the corresponding period of 2025, extending the strong earnings momentum recorded in the 2025 financial year. Highlights of the six-month results released on ...
