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C & I Leasing Plc has received overwhelming shareholder support for its growth strategy, as 442 shareholders representing 2.55 billion voting rights unanimously endorsed key resolutions at the company’s 34th Annual General Meeting (AGM) held on Monday, 8 September 2025. Shareholders gave full approval for a final dividend of 10 kobo per 50 kobo share, ...
…as Insurance stocks dominate NGX trading with shares worth N5.4bn By Seun Ibiyemi The Nigerian equities market closed the just-ended trading week on a bearish note, as investors suffered a combined loss of N832 billion amid a shortened trading schedule due to the Eid-el-Maulud public holiday. Trading activities were limited to four sessions after the ...
By Seun Ibiyemi United Bank for Africa Plc (UBA) has announced the extension of its ongoing Rights Issue acceptance and application period by two weeks. In a statement signed by the Group Company Secretary/Legal Counsel, Bili A. Odum, the bank disclosed that the offer, initially scheduled to close on Friday, September 5, 2025, will now ...
PZ Cussons Nigeria Plc has announced a significant financial turnaround, reporting a pre-tax profit of N16.6 billion for the year ended May 31, 2025. This marks a major recovery from the N122.4 billion loss the company faced in 2024, driven by a surge in revenue and a sharp reduction in foreign exchange losses. The company's ...
Ecobank Nigeria, a subsidiary of the pan-African banking group, has launched its Super Rewards campaign, offering customers the chance to win over N60 million in cash and other prizes. According to a statement released by the bank, the initiative was introduced to commemorate the 40th anniversary of its parent company, Ecobank Transnational Incorporated. The campaign ...
Sterling Bank Ltd has marked the first anniversary of SeaBaas, its pioneering core banking system developed entirely in Africa. In a statement on Wednesday, the bank’s Chief Executive, Abubakar Suleiman, announced that the platform had processed more than two billion transactions within 12 months of its launch. Suleiman noted that SeaBaas has cut processing times ...
By Seun Ibiyemi The Nigerian Exchange Limited (NGX) extended its losing streak to a third consecutive day on Wednesday, as steep declines in Axa Mansard Insurance, Learn Africa, and Legend Internet dragged the market lower by 0.45 percent. Axa Mansard Insurance led the sell-off, plunging 9.95 percent to close at N14.39 per share, down N1.59 ...
The Jos Electricity Distribution Company (JEDC) has pledged improved service delivery to residents of Gombe State, including faster transformer repairs and the start of prepaid meter installations from September 2025. Rilwan Shehu, State Operating Officer of JEDC, made the commitment during a Customer Consultative Forum in Gombe. He explained that the forum was designed to ...
By Seun Ibiyemi The Debt Management Office (DMO) has launched the September 2025 Federal Government of Nigeria (FGN) savings bonds, offering investors attractive interest rates of up to 16.541 per cent per annum. Subscriptions opened on Monday, September 1, 2025, and will close on Friday, September 5, with settlement scheduled for September 10. Interest payments ...
…Expand nationwide presence By Seun Ibiyemi Union Bank of Nigeria, one of the country’s longest-established financial institutions, has successfully completed its merger with Titan Trust Bank Limited following final approval from the Central Bank of Nigeria (CBN). Olufunmilola Aluko, Head of Brand and Marketing, said the milestone concludes a process that began with the signing ...
...Records zero bad loans in six years By Seun Ibiyemi Globus Bank has exceeded the Central Bank of Nigeria’s (CBN) recapitalisation mandate by raising more than ₦200 billion in fresh capital ahead of the first-quarter 2026 deadline. Managing Director and Chief Executive Officer Elias Igbinakenzua disclosed this during an interview with journalists, explaining that the ...
Growth in Nigeria’s private sector strengthened in August, supported by rising customer demand and easing inflationary pressures, according to the latest Stanbic IBTC Bank Purchasing Managers’ Index (PMI) report. The headline PMI climbed to 54.2 in August from 54.0 in July, marking the ninth consecutive month above the 50.0 mark that separates expansion from contraction. ...
The Nigerian Exchange Group (NGX) has reaffirmed its commitment to expanding the market through product innovation, increased listings, and strategic international partnerships. Chairman Dr Umaru Kwairanga made the disclosure during a meeting with the Brazil Stock Exchange and Over-the-Counter Market (B3) in São Paulo. Kwairanga noted that NGX, established over 60 years ago, currently hosts ...
By Seun Ibiyemi Trading on the Nigerian Exchange Limited (NGX) started the new month on a negative trajectory, with profit-taking in banking, industrial, and oil & gas stocks pulling the market down by 0.41 percent on Monday. The All-Share Index (ASI) closed at 139,722.19 points, down from 140,557.24 points, while market capitalisation declined by N528 ...
By Seun Ibiyemi The Nigerian equities market ended the week on a downward trajectory, with a noticeable slowdown in trading activity as investors exchanged 3.199 billion shares worth ₦85.399 billion in 142,477 transactions. This represented a 25.8 per cent fall in value compared with the ₦107.426 billion traded across 152,965 deals in the previous week. ...
The Nigerian equities market ended the week on a downward trajectory, with a noticeable slowdown in trading activity as investors exchanged 3.199 billion shares worth ₦85.399 billion in 142,477 transactions. This represented a 25.8 per cent fall in value compared with the ₦107.426 billion traded across 152,965 deals in the previous week. The Financial Services ...
By Seun Ibiyemi Insurance and industrial stocks drove a strong August rally on the Nigerian Exchange (NGX), extending gains and leaving the sector leaders as the month’s standout performers. The benchmark NGX All-Share Index (ASI) rose to 145,754.91 points in the week ending 8 August, a weekly increase of 3.18 per cent. Market capitalisation climbed ...
Cutix Plc, one of Nigeria’s leading cable manufacturers, has reported a sharp drop in profitability in its first-quarter results for the financial year ending July 31, 2025, with pre-tax profit tumbling 81 per cent year on year to ₦84 million. The steep decline was driven by sluggish revenue growth, higher raw material prices, and mounting ...
The Nigerian Stock Market ended the week bearish on Friday, with investors recording a loss of N491 billion. Market capitalisation declined by N491 billion or 0.64 per cent, closing at N75.962 trillion from N76.453 trillion on Thursday. Similarly, the All-Share Index dropped by 776.92 points or 0.64 per cent to 119,995.76 from 120,772.68 recorded previously. ...
Wema Bank, the official gold sponsor of Lagos Leather Fair (LLF) 2025, has pledged to disburse N2.5 million in grants to the top three outstanding Small and Medium Enterprises (SMEs) participating in the 8th edition of LLF 2025. The fair, scheduled for June 28-29, 2025, at the Balmoral Federal Palace Hotel in Lagos, will showcase ...
The Securities and Exchange Commission (SEC) has issued a public warning about Value Growth Platform, an online entity it suspects to be operating a Ponzi scheme under the guise of a legitimate investment service. In an official statement released Friday, the SEC stated that the platform promotes itself as a sophisticated investment outlet offering market ...
By Seun Ibiyemi Investors on the Nigerian Exchange (NGX) traded a total of 3.903 billion shares valued at ₦102.221 billion in 114,484 transactions this week, representing a 12.9 per cent drop in the value of transactions compared to last week’s 3.566 billion shares worth ₦115.403 billion exchanged in 99,960 deals. Despite the decline in trade ...
Fidelity Bank Plc and Zenith Bank Plc have issued separate statements affirming their strong financial positions and compliance plans as they work toward exiting the Central Bank of Nigeria’s (CBN) regulatory forbearance by the stipulated deadline of June 30, 2025. In a disclosure filed on the Nigerian Exchange (NGX) portal, Fidelity Bank confirmed its alignment ...
