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Nigeria’s Assets Under Management (AUM) increased from N3.2 trillion to N10 trillion within the last two years, the Securities and Exchange Commission (SEC) has said. The Director-General of SEC, Dr Emomotimi Agama, disclosed this on Monday in Lagos during an event marking Nigeria’s transition to the T+1 settlement cycle. Agama said the growth reflected rising ...
By Damilare Adeleye Nigeria’s banking sector recorded a significant increase in personal lending at the start of 2026, with outstanding personal loans climbing to N1.96 trillion in January and accounting for more than half of all consumer credit in the country. Data contained in the latest Economic Report released by the Central Bank of Nigeria ...
Ahead of its Annual General Meeting on 1 June 2026, Savannah Energy PLC, the British independent energy company has posted an increase in revenue by seventeen percent (17%) for the four months, ended 30 April 2026. The company reported that following the completion of the SIPEC acquisition in March 2025, the production expansion program underway ...
Some bank shareholders have urged banks to improve transparency and communication with investors, particularly on decisions relating to dividend payments. The shareholders made the call in separate interviews in Abuja on Sunday while reacting to the non-declaration of dividends by some banks for the 2025 financial year. They said that while investors appreciated profitability, they ...
The shareholders of FBN Holdings Plc (First Holdco) have officially approved a fresh capital injection of N253.1 billion, a strategic move aimed at elevating the financial institution's paid-up capital to a staggering N1 trillion. This monumental decision was finalized during the group’s 14th Annual General Meeting on May 29, 2026, marking a pivotal milestone in ...
By Damilare Adeleye The Central Bank of Nigeria (CBN) has projected that inflationary pressures in Nigeria will ease significantly before the end of 2026, expressing confidence that the economy is gradually returning to a disinflationary path that could eventually lead to single-digit inflation. Victor Oboh, Director of the Monetary Policy Department at the apex bank, ...
...set to raise ₦100bn in fresh capital By Damilare AdeleyeShareholders of Abbey Mortgage Bank Plc have approved a dividend payout of ₦1.22 billion to investors, alongside plans by the bank to raise up to ₦100 billion in fresh capital and debt funding. The approvals were granted at the bank’s 34th Annual General Meeting (AGM) held ...
The Federal Government of Nigeria and the World Bank have mutually agreed to scrap roughly $717.7 million in unutilized funding originally earmarked for the Power Sector Recovery Operation (PSRO) initiative. The decision stems from escalating tariff deficits, persistent project delays, and evolving dynamics within the domestic electricity market. A World Bank document revealed that the ...
By Damilare Adeleye Nigerian indigenous mining and exploration company, Multiverse Mining and Exploration Plc, has declared a final dividend of 15 kobo per 50 kobo ordinary share for the financial year ended December 31, 2025. The company disclosed this in a corporate notice dated May 22, 2026 and signed by the company secretary, Alabiqun Mahmud ...
By Damilare Adeleye Fidelity Bank Plc has announced the appointment of Dr. Jonathan Oniovosa Ososuakpor as a Non-Executive Director with immediate effect from May 22, 2026. In a press statement released on Monday, the Bank said the appointment had received approval from the Central Bank of Nigeria (CBN), while notices had also been communicated to ...
The Nigerian equities market maintained its upward trajectory at the close of the latest trading session, as the benchmark index posted a modest gain amid mixed trading activity and fluctuating investor sentiment. The Nigerian Exchange Limited (NGX) All-Share Index advanced by 5 basis points (0.05%), driving the stellar Year-to-Date (YTD) return forward to an impressive ...
Seplat Energy Plc, a leading indigenous Nigerian energy company listed on the Nigerian Exchange Limited and the London Stock Exchange, has reaffirmed its commitment to disciplined growth, sustained shareholder returns, and national energy security following its 13th Annual General Meeting (AGM), held virtually from Lagos. At the meeting, shareholders approved the company’s 2025 audited financial ...
By Damilare Adeleye Shareholders of BUA Cement Plc have approved a final dividend payout of ₦338.64 billion for the 2025 financial year, as the company projected that cement prices would moderate once production, energy, and logistics costs begin to ease. The approved dividend of ₦10 per ordinary share will be paid to shareholders whose names ...
By Damilare Adeleye The Chairman of First HoldCo, Femi Otedola, has hinted at plans to invest $100 million in the Dangote Refinery. He disclosed this on Wednesday after leading top executives of First HoldCo on a tour of the Lagos-based refinery. Otedola’s planned investment is part of a $2 billion private placement the Dangote Refinery ...
By Damilare Adeleye Honeywell Flour Mills Plc has announced that its Board of Directors will meet on Friday, May 29, 2026, to consider the company’s audited financial statements for the year ended March 31, 2026. The company made this known in a notice dated May 20, 2026, and signed by the Company Secretary, Osomomen Olukoya. ...
Shareholders of Seplat Energy PLC have expressed strong optimism over the appointment of Tony Elumelu to the company's board, citing his proven track record in transforming corporate enterprises and driving shareholder value. Speaking at the company's Annual General Meeting, prominent shareholder Farouk Umar stated that Elumelu's vast experience across critical sectors, including energy, technology, real ...
The equities market extended its bearish trend on Friday, shedding N1.226 trillion as investors recorded losses in major stocks. Market capitalisation declined by 0.76 per cent to close at N160.443 trillion, compared with N161.669 trillion on Thursday. Similarly, the All-Share Index dropped by 1,912.19 points, or 0.76 per cent, to close at 250,330.92 against 252,243.11 ...
The Federal Government has officially launched the South-West zonal engagement of the Ministerial Advocacy Tour to mobilize share capital for the establishment of the Cooperative Bank of Nigeria. During the event held at the LASCOFED Multipurpose Hall in Ikeja on Monday, the Minister of State for Agriculture and Food Security, Senator Dr. Aliyu Sabi Abdullahi ...
Fidelity Bank PLC has reportsd a surge in profitability with Profit After Tax (PAT) hitting N214.5 billion. The audited financial statements for the 2025 fiscal year filed with the Nigerian Exchange Group showcase a bank successfully leveraging digital transformation and an expanded retail footprint to drive record growth. The financial highlights reveal an increase in ...
The Nigerian Exchange (NGX) extended its bullish run on Tuesday as sustained buying interest in high-value counters pushed the benchmark index to a fresh high. This is as the All-Share Index (ASI) appreciated by 0.77%, closing at 252,411.67 points from the 250,485.54 points recorded in the previous session. Reflecting the intensity of the rally, market ...
FCMB Asset Management Limited (FCMBAM) has received formal approval from the Securities and Exchange Commission (SEC) to rebrand its suite of mutual funds. This transition follows a successful vote by unitholders and marks the full legal adoption of the FCMBAM prefix, replacing the former Legacy branding across its Money Market, Debt, Equity, and USD Bond ...
The Nigerian equities market opened the trading week on a remarkably bullish note, with the benchmark index advancing by 2.33%. This latest surge has pushed the year-to-date (YTD) return to an impressive 60.97%, signaling sustained investor confidence in the local bourse. Market activity witnessed a significant spike as trading volume skyrocketed by 33.58%, reaching 1.50 ...
The Office of the Accountant-General of the Federation (OAGF), has cleared the air on media reports that the Federal Government issued a “six-months ultimatum” to the World Bank. This is contained in a statement issued by the Director, Press and Public Relations, Bawa Mokwa on Saturday in Abuja. He explained that the comments made by ...
