Latest in
By Seun Ibiyemi Nigeria’s public debt is approaching unsustainable levels, with capital market experts cautioning that rising debt servicing costs, weak revenue generation, and structural inefficiencies are putting significant strain on the nation’s finances. The warnings were issued during the Capital Market Academics of Nigeria (CMAN) Q4 2025 Virtual Symposium. While official figures suggest Nigeria’s ...
First City Monument Bank (FCMB) has announced a special offer granting customers free access to its Virtual Naira Mastercard for a limited period, provided they apply on or before November 31, 2025. The bank stated that applications submitted after the deadline will attract a fee. In a statement to customers, FCMB highlighted that the Virtual ...
By Seun Ibiyemi Zenith Bank Plc has dismissed reports circulating in the media suggesting it is in the process of acquiring Paramount Bank in Kenya as part of a planned expansion into the East African market. In a statement signed by the Company Secretary, Michael Osilama Otu, and released to the Nigerian Exchange Limited (NGX), ...
By Seun Ibiyemi Nigeria’s stock market continued its downward slide on Tuesday, recording a 0.12 per cent decline as intensified sell pressure across mid- and small-cap stocks dampened overall sentiment. The session was marked by cautious trading, with investors reacting to persistent uncertainties in the broader market, which weighed on sector performance and weakened risk ...
By Seun Ibiyemi Dangote Cement Plc has announced the opening of a Series 1 and Series 2 Commercial Paper (CP) issuance valued at up to ₦100 billion under the company’s ₦500 billion Commercial Paper Issuance Programme. The offer made known by Afrinvest Securities Limited is part of Dangote Cement’s strategy to deepen its short-term liquidity position and ...
By Seun Ibiyemi Nigeria’s foreign reserves have climbed to $46.7 billion, marking the highest level in seven years, the Central Bank of Nigeria (CBN) has revealed. The rise is attributed to renewed investor confidence, stronger oil receipts, and improved balance-of-payments inflows. CBN Governor Olayemi Cardoso, represented by Deputy Governor Dr. Muhammad Abdullahi, disclosed the milestone ...
First City Monument Bank (FCMB) has announced the appointment of Ms. Oluyinka Johnson as a Non-Executive Director, following approval from the Central Bank of Nigeria (CBN). The move is aimed at bolstering the bank’s board diversity and enhancing its strategic leadership capabilities. Ms. Johnson brings over 20 years of experience driving operational excellence and leading ...
Zenith Bank Plc is set to make its debut in East Africa through the proposed acquisition of Kenya’s Paramount Bank, signaling a major step in the Nigerian lender’s pan-African growth strategy. The deal, pending regulatory approvals from both the Central Bank of Nigeria and the Central Bank of Kenya, is targeted for completion by January ...
By Sofiyyah Layole The Nigerian Exchange (NGX) closed on a positive trajectory on Monday as major performance indicators reflected renewed investor confidence in the equities market. The All-Share Index (ASI) climbed to 145,159.77 points, while total market capitalization across equities, bonds and ETFs remained resilient. Trading activity was moderate, with 28,492 deals executed on a ...
..as CPPE calls for structural reforms to sustain relief By Seun Ibiyemi Nigeria’s inflation rate continued its downward trajectory in October 2025, dropping for the seventh consecutive month to 16.1 percent, according to the latest data released by the National Bureau of Statistics (NBS). The figure came in lower than many analysts had forecast, reinforcing ...
Fidelity Bank Plc has announced a 46% surge in Gross Earnings, which catapulted the figure to ₦748.7 billion for the period ended June 30, 2025. Highlights of the financial results which was uploaded on the Nigerian Exchange (NGX) portal on Thursday, 13 November 2025 shows that the bank delivered robust results across key financial metrics including ...
By Seun Ibiyemi The naira closed the second week of November largely flat across key foreign exchange markets, even as Nigeria’s external reserves continued to climb, providing some support for the domestic currency amid persistent demand pressures. Data from the Central Bank of Nigeria (CBN) showed that the naira ended trading on Friday at N1,442.43 ...
By Sofiyyah Layole The Nigerian Exchange recorded a mixed performance during the week, with significant growth in market activity despite a decline in the benchmark index and overall market capitalization. Equity turnover for the week stood at 7.325 billion shares valued at N156.425 billion exchanged in 134,383 deals. This surpassed the previous week’s total of ...
The President, Association of Issuing Houses of Nigeria (AIHN), Kemi Awodein has attributed the decision of the Central Bank of Nigeria to embark on aggressive interest rate hikes in propelling investors’ demand for fixed income instruments in 2024. Speaking last week during the AIHN’s Annual General Meeting and presentation of 2024 financial statements in Lagos, she said ...
By Matthew Denis The Securities and Exchange Commission (SEC) has announced that the Nigerian capital market will officially transition to a T+2 settlement cycle for equities transactions from Friday, November 28, 2025, in a move designed to align with global best practices and enhance market efficiency. This is contained in a statement signed the SEC ...
By Seun Ibiyemi The Federal Competition and Consumer Protection Commission (FCCPC) has directed all digital lending operators in Nigeria to comply fully with the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025 by Monday, January 5, 2026. The new regulation, which took effect on July 21, 2025, under the Federal Competition and Consumer Protection ...
By Sofiyyah Layole The Nigerian Exchange (NGX) closed Wednesday’s trading session on a bullish note, with the benchmark All-Share Index (ASI) surging by 2.88 percent to settle at 145,403.83 points. The sharp uptick reflects renewed investor optimism, supported by strong performances in the banking and insurance sectors. Equity market capitalization rose to ₦95.32 trillion, marking ...
By Seun Ibiyemi Nigeria’s economy has maintained steady growth momentum for the 11th consecutive month, according to the latest Purchasing Managers Index (PMI) report released by the Central Bank of Nigeria (CBN) on Wednesday. The report revealed that the composite PMI for October 2025 stood at 55.4 points, up from 54.0 points recorded in September, ...
By Seun Ibiyemi Nigeria’s domestic debt profile has risen to about ₦79.90 trillion following the Senate’s approval of President Bola Tinubu’s request to obtain a fresh ₦1.15 trillion loan from the domestic debt market. The loan is intended to partially finance the ₦14.10 trillion deficit in the 2025 national budget, as part of the government’s ...
MOFI lists real estate fund on NGX to boost affordable housing, deepen capital markets By Seun Ibiyemi The Ministry of Finance Incorporated (MOFI) on Tuesday achieved a major milestone in Nigeria’s housing and capital market landscape with the listing of the commercial tranche of the MOFI Real Estate Investment Fund (MREIF) on the Nigerian Exchange ...
By Sofiyyah Layole The Nigerian Exchange (NGX) closed Tuesday's trading session in positive territory as the benchmark All-Share Index (ASI) rose by 0.82 percent to settle at 141,327.3 points. The market also recorded significant trade volumes as 29,558 deals were executed, trading over 655 million shares valued at ₦29.39 billion. Market capitalization for equities also climbed ...
By Seun Ibiyemi The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has said that the Federal Government’s ongoing economic reforms and fiscal consolidation efforts are critical to repositioning the Nigerian economy for sustainable growth. Cardoso stated this on Tuesday in Abuja while delivering a keynote address at the 2025 Annual Executive ...
By Sofiyyah Layole Ellah Lakes Plc has announced a ₦235 billion public offer as part of its strategic move to expand operations across Nigeria’s agribusiness value chain and strengthen its balance sheet for sustainable growth. At its Facts behind the offer presentation at NGX, the company detailed its growth roadmap, capital structure, and plans to ...
