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By Seun Ibiyemi Insurance firms are set to dominate profit expectations on the Nigerian Exchange (NGX) in 2025, with AIICO Insurance Plc accounting for the lion’s share of earnings forecasts recently filed with the Exchange. Together with Red Star Express Plc, SUNU Assurances Nigeria Plc, Prestige Assurance Plc, and Eterna Plc, the five firms project ...
By Seun Ibiyemi Nigerian fintech start-up, Rendcore, has entered into a strategic partnership with Safe Haven Microfinance Bank (MFB) and Monirates to capture part of Nigeria’s $20.5 billion annual remittance inflows, according to the World Bank (2023). The partnership, announced in a statement signed by Rendcore’s Chief Executive Officer, Mr. Gabriel Iruaga, positions the company ...
By Seun Ibiyemi The Nigerian Exchange (NGX) concluded the week on a high note, as investors' trading activities propelled the market to a 1.12% gain. A total of 3.19 billion shares valued at N99.7 billion were exchanged in 132,711 deals, reflecting a significant increase in transaction value compared to the previous week. This week's figures represented ...
By Seun Ibiyemi Shares of eTranzact International Plc were the top performer on the Nigerian Exchange for the week, surging by 45.15% to close at N14.95. This impressive rally was fueled by strong investor confidence following key corporate developments. The fintech firm, which started the week at N10.30, experienced a buying frenzy that analysts attribute to ...
Sterling Financial Holdings Company Plc (Sterling HoldCo) is projecting a bullish close to the year, with ambitious financial forecasts for the fourth quarter of 2025. The company's latest filing on the Nigerian Exchange reveals a targeted gross earnings of N149.27 billion for the quarter ending December 31, 2025. This outlook is built on a foundation ...
Nigeria’s economy recorded a major boost in the second quarter of 2025 as the country posted a trade surplus of N7.46 trillion, according to the latest data released by the National Bureau of Statistics (NBS). The NBS, in its Foreign Trade Report released on Friday, said total trade for the period stood at N38.03 trillion, ...
The naira fell further on Friday, trading at N1,538 per dollar in the parallel market, weaker than the N1,535/$ recorded the previous day. Figures from the Nigerian Foreign Exchange Market (NFEM) showed the currency also slipped at the official window to N1,503.5 per dollar, compared with Thursday’s N1,503/$, a 50-kobo decline. Central Bank of Nigeria ...
Wema Bank Plc has completed its N150 billion Rights Issue, which opened on 14 April 2025 and closed on 21 May 2025, securing formal approval from both the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC). The Rights Issue was undertaken in response to the CBN’s recapitalisation directive for banks operating ...
The Federal Competition and Consumer Protection Commission (FCCPC) has recovered more than N10 billion for aggrieved consumers between March and August 2025, with the banking and fintech sectors accounting for the majority of reported grievances. The Commission disclosed that its latest review covered consumer dissatisfaction across 30 sectors, with complaints ranging from unfair charges, service ...
By Seun ibiyemi The Debt Management Office (DMO) has called on the Nigerian media to exercise restraint in reporting the country’s debt situation, stressing the need for accuracy and verification before publication. In a statement released on Thursday in Abuja, the DMO dismissed recent reports quoting the West Africa Association of Public Accounts Committees (WAAPAC) ...
By Seun ibiyemi The Nigerian Exchange Limited (NGX) sustained its upward momentum on Thursday, closing positive for the fourth consecutive session as strong performances from Guinness Nigeria Plc, C&I Leasing and Etranzact lifted the market. The All-Share Index (ASI) gained 0.21 per cent, climbing to 140,665.84 points from 140,365.36 points in the previous session. Market ...
By Seun ibiyemi Fidelity Bank Plc has delivered food supplies to residents of Ilaje and Ese-Odo Local Government Areas in Ondo State, reinforcing its commitment to improving lives and supporting vulnerable groups across the country. At the distribution exercise on Thursday, Regional Bank Head, Southwest 1, Mr Folaranmi Jemirin, explained that the Fidelity Food Bank ...
The Securities and Exchange Commission (SEC) has rolled out a comprehensive strategy to accelerate the adoption of International Sustainability Standards Board (ISSB) disclosure frameworks in Nigeria, a move it says will enhance transparency, reduce capital costs, and draw international investment into the country’s capital market. Speaking at a panel session on IFRS S1 and S2 ...
...As agency recovers over N10bn for aggrieved customers Banking and Fast-Moving Consumer Goods (FMCG) sectors have recorded the highest number of consumer complaints in Nigeria, according to the latest six-month report released by the Federal Competition and Consumer Protection Commission (FCCPC). The data, covering March to August 2025, showed that banking and financial technology (fintech) ...
...As rallies, billboards, social media Fuel premature campaigning nationwide...Appeals to N’Assembly for urgent legislative reform The Independent National Electoral Commission (INEC) has cautioned that Nigeria’s current electoral laws leave it unable to sanction politicians engaging in premature campaigns ahead of the 2027 general election. The warning was issued on Wednesday at a stakeholders’ roundtable on ...
Nigeria’s external reserves have risen by $4.1 billion in the past two months, supported by a rebound in crude oil production and steady foreign exchange (FX) inflows. Fresh figures from the Central Bank of Nigeria (CBN) revealed that gross official reserves climbed by $1.9 billion in August to $41.3 billion as of August 25, following ...
…Tinubu’s reforms driving capital market boom – TMSG Afrinvest West Africa Limited has projected that Nigeria’s rebased Gross Domestic Product (GDP) must expand at an average of 21.95 percent annually, at an exchange rate of N1,500 per dollar, if the government is to achieve its $1 trillion economy target by 2031. The projection was contained ...
The Central Securities Clearing System (CSCS) Plc has received firm support from regulators and operators for its planned migration to a T+2 settlement cycle, which comes into effect on November 28. The shift, widely regarded as a milestone in modernising Nigeria’s capital market infrastructure, is expected to strengthen efficiency, cut counterparty risk, boost liquidity, and ...
By Seun Ibiyemi Nigeria’s equities market extended its rally on Wednesday, notching its third consecutive advance this week with a 0.41 percent rise. The Nigerian Exchange Limited (NGX) All Share Index (ASI) climbed from 139,796.11 points in the previous session to 140,365.36 points, while market capitalisation improved from N88.453 trillion to N88.813 trillion. Analysts described ...
Coremars Capital Limited has announced that it has received authorisation from the Securities and Exchange Commission (SEC) to operate as a fully licensed Issuing House in Nigeria, a development that marks a significant milestone in the company’s expansion into investment banking. The licence grants the firm the authority to provide a wide spectrum of capital ...
By Seun Ibiyemi Nigeria’s equities market advanced by 0.29 per cent on Tuesday, securing a second gain of the week as renewed investor appetite for select stocks pushed the market to a positive close. E-Tranzact International spearheaded the rally after securing approval from the Federal Inland Revenue Service (FIRS) as a certified provider for the ...
By Matthew Denis The President of the Chartered Institute of Bankers of Nigeria (CIBN), Dr Pius Deji Olanrewaju, has revealed that net domestic credit to the private sector has climbed above N82 trillion this year, a development that is bolstering businesses and fostering job creation. Dr Olanrewaju made the disclosure during his opening address at ...
The Central Bank of Nigeria (CBN), says the bank is targeting a diaspora reserve of one billion dollars by 2026. Dr Olayemi Cardoso, the Governor of CBN, said this at the 18th Annual Banking and Finance Conference organised by the Chartered Institute of Bankers of Nigeria (CIBN) in Abuja on Tuesday. Cardoso said the diaspora ...
