Latest in
Shareholders of Dangote Sugar Refinery Plc have approved a N500 billion Rights Issue to strengthen the company’s financial standing and accelerate strategic growth. This capital injection is primarily intended to fund ambitious backward integration projects, a move endorsed during the company’s 20th Annual General Meeting in Lagos. The company Chairman, Arnold Ekpe noted that while ...
By Damilare Adeleye The Nigeria Infrastructure Debt Fund (NIDF) has maintained a solid performance throughout the first quarter of 2026, posting resilient asset levels and sustaining its reputation for steady income distribution. According to its unaudited quarterly report for the period ended March 31, 2026, the fund’s total assets stood at ₦137.46 billion, remaining broadly ...
By Fredrick Ameh Nigeria deepened its economic diplomacy on Tuesday as top financial officials met with Ajay Banga at the Bank’s headquarters in Washington during the ongoing Spring Meetings of the International Monetary Fund and the World Bank. Leading the Nigerian delegation were Olayemi Cardoso, Governor of the Central Bank of Nigeria, and Wale Edun, ...
By Fredrick Ameh Nigeria’s inflationary pressure intensified in March 2026 as the Consumer Price Index (CPI) rose to 135.4, marking a 5.4-point increase from February’s 130.0, according to the National Bureau of Statistics. The latest figures show that headline inflation climbed to 15.38% in March, up from 15.06% recorded in February, signaling a continued rise ...
The Nigerian Exchange (NGX) has admitted 1,057,958,025 additional ordinary shares of Access Holdings Plc to its daily official list, following the company’s recent capital-raising exercise. According to the Exchange’s weekly market report for the period ended April 10, 2026, these newly listed shares of 50 kobo each were issued via a private placement at a ...
The equities segment of the Nigerian Exchange (NGX) closed in positive territory last week, as strong buying interest in Tier-1 banks propelled the local bourse to a N1.36 trillion weekly gain. The benchmark All-Share Index (ASI) edged up by 1.03% week-on-week to close at 203,770.42 points, while market capitalization rose by 1.05% to reach N131.17 ...
International investors have contributed approximately N1.27 trillion to the just concluded banking sector recapitalisation exercise by the Central Bank of Nigeria (CBN). The CBN in a post on its social media diaclosed that Banks successfully mobilised a total of N4.65 trillion in fresh capital. The influx of foreign capital represents 27.45% of the total funds ...
Founder of Woof Studios Africa, Ms Adetutu Laditan, says Africa risks missing out on the estimated 250 billion-dollar global creator economy without stronger focus on monetisation and structured growth. Laditan made the call on Friday at the unveiling of the ECHO Creator Accelerator induction and news conference in Lagos, aimed at training a select cohort ...
The 2025 audited financial statements for Guaranty Trust Holding Company (GTCO) and Access Holdings reveal a strategic equilibrium at the apex of Nigeria's financial sector. While both institutions successfully navigated a complex macroeconomic landscape, their performances highlight a fundamental divergence in business models surgical efficiency versus aggressive scale resulting in a competitive tie that underscores ...
GW Grey PTE Ltd, a major stakeholder in the UH Real Estate Investment Trust has acquired ₦193m worth of shares. In a regulatory filing on the Nigerian Exchange (NGX) on April 8, 2026, the firm acquired 15,450,000 units of the Trust in a single market transaction. The units were purchased at a price of ₦12.50 ...
The UH Real Estate Investment Trust (UHREIT) has released its audited financial statements for the 2025 fiscal year, revealing a massive expansion in its balance sheet. Total equity attributable to unit-holders surged to ₦27.85 billion by year-end, a significant jump from the ₦10.69 billion reported in 2024. This growth was primarily underpinned by a revaluation ...
...as monetary tightening, energy costs stifle credit expansion Recent data from the Central Bank of Nigeria reveals that private sector credit extension stood at N75.6 trillion as of late February 2026, representing a marginal monthly increase of 0.5% but a year-on-year contraction of 0.8%. This slowdown across the banking ecosystem where deposit money banks facilitate ...
Zenith Bank PLC has released its audited group financial results for the full year ended December 31, 2025. The Group’s performance demonstrates the Bank's resolute commitment to delivering efficient balance sheet growth, operational excellence, and ability to generate superior, sustainable returns across market cycles. Commenting on the results, the Group Managing Director/CEO, Dame Dr. Adaora ...
The Management of Living Trust Mortgage Bank Plc has denied media reports alleging a ₦64 million fraud case involving the bank in Onitsha, Anambra State. In a statement on Tuesday, the Bank denied any involvement in the alleged fraudulent activities. The Bank clarified that the individual mentioned in the reports, one Chizoba Emmanuel Dilo is ...
Coronation Insurance Plc has released its audited financial results for the extended 15-month period ending December 31, 2025 achieving a Gross Premium Written of ₦34.2 billion. This marks a 28% growth compared to the ₦26.7 billion recorded in the previous corresponding period. This growth in premium generation was complemented by a robust Net Underwriting Income ...
Zenith Bank Plc has reinforced its position as a dominant force in the African financial landscape, following the release of its audited results for the 2025 financial year and an impressive start to the first quarter of 2026. The Tier-1 lender reported a milestone Profit Before Tax (PBT) of ₦920.4 billion for the full year ...
Fidson Healthcare Plc has reported a significant 41% increase in revenue, reaching ₦119.06 billion for the 2025 financial year. This growth was primarily fueled by a 41.5% jump in ethical drug sales, which rose to ₦77.8 billion from ₦55.0 billion in 2024. The company’s audited financial statements, released for the year ending December 31, 2025, ...
By Damilare Adeleye The African Development Bank (AfDB) Group has announced an $80M contribution to support the Democratic Republic of the Congo’s second General Population and Housing Census (RGPH2). This was disclosed on March 23, 2026, in Kinshasa during a donor roundtable involving technical and financial partners. The Bank’s pledge forms a significant portion of ...
The Nigerian Exchange (NGX) All-Share Index experienced a marginal retreat on Thursday, April 2, 2026, sliding by 0.002% to close at 201,698.89 basis points. This slight downturn was primarily driven by pre-Easter holiday sell-offs as investors engaged in selective profit-taking on stocks that had recently posted significant gains. Market capitalization also recorded a decline of ...
Africa's richest man, Aliko Dangote has met with chief executives and senior representatives from major African capital markets at a meeting convened by the Nigerian Exchange Group Plc (NGX Group) in Lagos. Led by NGX Group Managing Director and CEO Temi Popoola, the strategic engagement focused on enabling seamless investor participation across jurisdictions within the ...
President Bola Ahmed Tinubu has approved the reconstitution of the Nigeria Commodity Exchange (NCX) board. In a statement on Thursday, President Tinubu appointed Dalhatu Abubakar as the Chairman of the Nigeria Commodity Exchange (NCX). The presidency in a statement confirmed that these appointments take immediate effect as part of a strategic initiative to strengthen the ...
The Board of Directors of Ikeja Hotel Plc has recommended a final dividend of 10 kobo per ordinary share of 50 kobo each for the financial year ended December 31, 2025. This dividend, which is subject to appropriate withholding tax and the approval of shareholders at the upcoming Annual General Meeting (AGM), represents a total ...
eTranzact International Plc has announced a proposed dividend of 5 kobo per ordinary share for the 2025 financial year, following the conclusion of its annual audit. The 5 kobo payout is subject to the approval of the company’s shareholders and the deduction of the statutory withholding tax at the point of payment. The electronic payment ...
