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Guaranty Trust Bank Ltd, the flagship banking subsidiary of Guaranty Trust Holding Company Plc (GTCO) has been named the Best Overall Performing Bank in Nigeria in The Banker magazine's Top 1000 World Banks Rankings 2026. The recognition reaffirms GTBank's position as one of Nigeria's leading financial institutions and reflects the Bank's consistent delivery of strong financial performance, operational excellence, and sustainable growth. The rankings evaluate banks globally using ...
By Taiwo Scholarstica The Director-General of the Infrastructure Concession Regulatory Commission (ICRC), Jobson Ewalefoh, has called on governments across West Africa to adopt Public-Private Partnerships (PPPs) as a key strategy for addressing the region’s growing infrastructure deficit. He stated that governments can no longer depend solely on public funds to finance critical infrastructure such as ...
By Taiwo Scholarstica President Bola Tinubu has formally requested the Senate to confirm the appointment of Lamido Yuguda Abubakar as the Chairman of the Board of the Asset Management Corporation of Nigeria (AMCON). The request was contained in a letter addressed to the upper chamber and read during Wednesday’s plenary by Senate President Godswill Akpabio. ...
The Nigerian Financial Intelligence Unit (NFIU) has expanded its international cooperation by signing strategic Memoranda of Understanding (MoUs) with key partner Financial Intelligence Units across the globe. Led by its Chief Executive Officer, Hafsat Abubakar Bakari, the NFIU formalized these agreements on the sidelines of the ongoing Egmont Group Plenary in Baku. The strategic partnerships ...
The Nigerian equities market closed on a bullish note as the benchmark All-Share Index (ASI) advanced by 0.69%, lifting its year-to-date (YTD) return to 56.77%. Market activity strengthened significantly during the session. The total trading volume surged by 219.73% to 1.65 billion shares, while the value of transactions soared by 390.47% to ₦112.06 billion. Market ...
The Nigerian equities market closed on a bullish note, with the benchmark All-Share Index (ASI) advancing 1.24%, lifting its year-to-date (YTD) return to 52.35%. Market activity weakened during the session, as total trading volume decreased by 8.57% to 492.49 million shares, while the value of transactions declined by 27.52% to ₦28.13 billion. Market breadth was ...
Emerald HoldCo B.V. has launched a proposed Mandatory Takeover Offer to acquire up to 11,741,509 ordinary shares from the minority shareholders of Beta Glass Plc at a price of ₦590.94 per share. According to a corporate notice released on Monday by the company secretaries, DCSL Corporate Services Limited, and filed with the Nigerian Exchange Limited, ...
Oando PLC has released its audited financial results for the full year ended December 31, 2025, declaring a resilient after-tax profit of ₦204.8 billion. Despite the strong bottom-line performance and a substantial build-up in cash reserves, the energy group remained completely silent regarding dividend payments to its shareholders. The notice published on Monday, July 6, ...
Ogun State has recorded another significant investment milestone as Presco PLC, one of Nigeria’s foremost integrated oil palm companies, has concluded plans to establish operations in the state with an initial investment of about $150 million, further affirming the confidence of local and international investors in the investment-friendly policies of the Prince Dapo Abiodun administration. ...
The Nigerian equities market closed the latest trading session on a decidedly bearish note, as the benchmark All-Share Index (ASI) retreated by 0.61%. Following this slight pullback, the market's year-to-date (YTD) return settled at an otherwise robust 44.15%. Interestingly, the decline in the primary index stood in stark contrast to the day's trading activity, which ...
Shell Nigeria Exploration and Production Company Ltd (SNEPCo) today took a major step towards empowering Nigerian contractors with the launch of a $3-billion Contract Finance Facility in partnership with nine leading Nigerian banks. The facility is designed to provide credit support for local contractors executing projects for SNEPCo operations and will be available in both ...
The Federal Government of Nigeria has taken a historic step in its commitment to the nation’s technology and creative economy, appointing Kuramo Capital Management as Fund Manager of the DICE Fund of Funds under the Investment in Digital and Creative Enterprises (iDICE) Programme. The contract was signed in Abuja on Tuesday, 30 June 2026, between ...
...as NDIC commences liquidation, verification of insured sumsBy Precious Mark and Ismail Azeez The Central Bank of Nigeria (CBN) has approved the revocation of the operating licences of 46 microfinance banks (MFBs) across the country with immediate effect. This was dislcosed in a notice by Mrs. Hakama Sidi Ali, the Acting Director of the Corporate Communications ...
By Precious Mark and Ismail Azeez The Central Bank of Nigeria (CBN) has approved the revocation of the operating licences of 46 microfinance banks (MFBs) across the country with immediate effect. This was dislcosed in a notice by Mrs. Hakama Sidi Ali, the Acting Director of the Corporate Communications Department at the CBN on Wednesday. ...
By Ismail Azeez The Central Bank of Nigeria (CBN) has revoked the operating licences of Livingspring and 45 other microfinance banks across the country. The apex bank’s directive took immediate effect on July 1, following the institutions’ failure to meet regulatory requirements. Among the affected institutions are Minji-Se Churchill MFB, Merchant MFB, Janmaa MFB, Busu ...
The federal government has launched a N200 billion share capital mobilisation campaign for the proposed Cooperative Bank of Nigeria, under the Renewed Hope Cooperative Reform and Revamp Programme (RH-CRRP). The campaign was officially launched by the Minister of State for Agriculture and Food Security and Supervising Minister of Cooperative Affairs, Senator Dr Aliyu Sabi Abdullahi, ...
The Bank of Industry (BOI) has appointed Kuramo Capital Management as the Fund Manager for the Digital and Creative Enterprises (DICE) Fund of Funds. T he $170.6 million initiative is designed to unlock venture capital for technology and creative startups across Nigeria. Under the arrangement, the Federal Government is providing an anchor commitment of $85.3 ...
By Taiwo Scholarstica The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has defended government borrowing, arguing that public debates on debt often miss the most important question: what the borrowed funds are being used for and whether they generate economic value. Speaking on Tuesday in Abuja during the Fellowship Award Ceremony ...
The Nigerian equities market opened the week on a bearish note, extending its recent losing streak as sustained profit-taking in blue-chip stocks outweighed buying interest. The benchmark NGX All-Share Index (ASI) declined by 1.57% to close at 228,401.92 points, down from the 232,049.02 points recorded in the previous trading session. This sharp decline wiped N2.34trn ...
Bharti Airtel Limited has significantly strengthened its holding in its dual-listed subsidiary, Airtel Africa Plc, pushing its ownership to approximately 79 percent. This was revealed during an analysis of the company’s notice to the Nigerian Exchange (NGX) and the London Stock Exchange (LSE) seen by NewsDirect. The increased stake was executed through a structured share ...
Guinness Nigeria Plc has announced a restriction on the trading of its shares, effective July 1, 2026. In a corporate notice sent to the Nigerian Exchange Limited (NGX), the company stated that the restriction is in line with the NGX post-listing requirements. The company noted that the closed period will last until 24 hours after ...
Chams Holding Company Plc has appointed Mr. Segun Oloketuyi as the Chairman of its Board of Directors, effective July 9, 2026. This was made known in a notice to Nigerian Exchange Limited (NGX). The Board of Directors approved the appointment in line with the Company’s governance processes and applicable regulatory requirements. Mr. Oloketuyi succeeds Sir ...
Odu’a Investment Company Limited (OICL) has recorded its strongest financial performance in recent history, posting a profit before tax of ₦23.58 billion for the 2025 financial year, while unveiling an ambitious target to grow its asset base to ₦1 trillion by 2030. The impressive performance was announced at the company’s 44th Annual General Meeting held ...
