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Quest Merchant Bank Limited has officially fulfilled the ₦50 billion minimum capital requirement mandated by the Central Bank of Nigeria (CBN) for merchant lenders. In a statement released on Thursday, the bank noted that this achievement significantly strengthens its capital base and enhances its capacity to drive Nigeria’s economic transformation. This milestone is viewed as ...
The Nigerian Exchange Group Plc (NGX Group) has announced the appointment of Ms. Jumoke Olaniyan as the new Group Chief Strategy Officer, effective March 2, 2026. This appointment comes as the Group intensifies its focus on digital transformation, product innovation, and market development to navigate the next phase of its strategic growth. In her new ...
In a decisive move to bolster national economic resilience, Central Bank of Nigeria (CBN) Governor Olayemi Cardoso has announced that the nation’s total gold reserves have reached $3.5 billion. This milestone, revealed during a workshop focused on maximizing Nigeria’s mineral wealth, marks a pivotal shift in the apex bank’s strategy to diversify foreign reserves and ...
FCMB Group Plc has formally approved its audited financial statements for the year ended December 31, 2025, revealing a year of extraordinary fiscal growth and record-breaking earnings. The results, finalized during a Board of Directors meeting on February 27, 2026, underscore the Group’s strengthened position within the Nigerian financial landscape as it moves to meet ...
Guaranty Trust Holding Company Plc (GTCO) has announced the appointment of Mrs. Olutola Omotola as an Independent Non-Executive Director, effective March 2, 2026. The appointment follows the formal approval of the Central Bank of Nigeria. In a corporate disclosure filed with the Nigerian Exchange Limited (NGX) and signed by the Group Company Secretary, Erhi Obebeduo, ...
Nigeria’s private sector began 2026 on a precarious footing as business conditions deteriorated for the first time in over a year. According to the latest Stanbic IBTC Purchasing Managers’ Index (PMI) released by S&P Global, the headline index dropped to 49.7 in January, falling from December’s 53.5. This dip below the critical 50.0 neutral mark ...
United Capital Plc has announced a stellar performance for the 2025 financial year, with its Profit After Tax (PAT) surging by 16.5% to reach N28.15 billion. In a corporate action released on Monday, the investment banking group proposed a final dividend of 70 kobo per share, amounting to a total final payout of N12.6 billion ...
STACO Insurance Plc has released its unaudited financial statements for the second quarter ended June 30, 2021, revealing a significant reduction in its bottom-line deficit compared to the previous year. The long-delayed filing, made public in March 2026, shows that the insurer’s loss after tax narrowed by approximately 61%, falling from N238.8 million in the ...
BUA Cement Plc has released its audited financial statements for the fiscal year ended December 31, 2025, revealing a year of explosive growth and record-breaking profitability. The cement manufacturing giant saw its revenue climb to an impressive N1.18 trillion, representing a 35% increase from the N876.47 billion recorded in 2024. This top-line growth was primarily driven by a strategic ...
Transnational Corporation Plc (Transcorp Group) has released its audited financial results for the full year ended December 31, 2025, revealing a historic performance characterized by a 33% surge in revenue to ₦544 billion. The conglomerate's diversified portfolio across power, hospitality, and energy proved resilient, with Profit After Tax (PAT) soaring by 44% to reach ₦135.9 ...
Lafarge Africa Plc has achieved a transformative financial milestone, crossing the ₦1 trillion revenue threshold for the first time in its corporate history. The cement giant reported a 53% surge in net sales for the 2025 fiscal year, rising from ₦696.8 billion to a record ₦1.1 trillion. This landmark performance was accompanied by an explosive ...
Access Holdings Plc has announced a significant addition to its executive leadership team with the official appointment of Mr. Emeka Anthony Ogbechie as the Company’s Chief Financial Officer effective February 23, 2026. This strategic move is intended to strengthen the corporation's financial oversight as it continues its aggressive expansion across the African continent and international markets. ...
Odu’a Investment Company Limited (OICL) has officially unveiled its SRC 2.0 strategic roadmap for 2026–2030, headlined by an ambitious "30 by 2030" growth target. During the 2026 annual directors’ meeting held at the Lagos Airport Hotel in Ikeja, the Group Chairman of OICL, Otunba Bimbo Ashiru announced that the conglomerate aims to achieve N1 trillion ...
The Nigerian equities market sustained its bullish momentum on Tuesday, extending a multi-session rally that saw the benchmark All-Share Index (ASI) climb by 0.65%. The index closed at an impressive 196,263.55 points, up from 194,989.77 points in the previous session, as sustained buying interest in blue-chip stocks continues to drive the market toward historic peaks. ...
The Board of Directors of NASCON Allied Industries PLC, a subsidiary of the Dangote Group, has approved the company's Audited Financial Statements for the year ended December 31, 2025, signaling another year of robust fiscal performance. Following a high-profile board meeting held on Tuesday, February 24, 2026, the company announced its intention to reward shareholders ...
Airtel Africa PLC has announced the purchase of 60,000 of its ordinary shares on February 23, 2026, marking the latest transaction in its ongoing multi-million dollar capital return programme. The buy-back, executed via Barclays Capital Securities Limited, is part of the broader $100 million initiative originally sanctioned by shareholders in late 2024 and revised in ...
By Denis Matthew The Nigerian capital market has reached a historic peak, with the total market capitalization of listed equities soaring to approximately N97.9 trillion. The Accountant General of the Federation (AGF), Shamsedeen Babatunde Ogunjimi, revealed these figures on Monday, attributing the growth to aggressive equity price appreciation and a robust return of investor confidence ...
Ojaja Pan Africa Limited has successfully redeemed its Series 1 and Series 2 Commercial Paper (CP) issuances, worth a combined N9.05 billion, signaling robust liquidity despite a challenging high-interest-rate environment. The redemption included N2.14 billion for the Series 1 tranche, which matured in November 2025, and N6.90 billion for the Series 2 tranche, settled on ...
The Nigerian Exchange Ltd. (NGX) witnessed a bullish week as the All-Share Index and market capitalization surged by 6.95 percent, closing at 194,989.77 points and N125.164 trillion, respectively. This performance marks a significant climb from the previous week’s close of 182,313.08 points and N117.027 trillion, resulting in a substantial N8.137 trillion gain for investors. While ...
Aliko Dangote, the President of the Dangote Group, has officially assured Nigerians that the Dangote Petroleum Refinery and Petrochemicals will be listed on the Nigerian Exchange Limited (NGX) before the conclusion of 2026. This announcement marks a significant milestone for the $20 billion facility, which is widely regarded as a cornerstone for Nigeria’s industrial self-sufficiency ...
The Nigerian equities market sustained its positive trend on Friday, closing with N1.2 trillion gain in market value due to strong buying interest in industrial and insurance stocks. At the close of trading, the market capitalisation rose from N123.934 trillion to N125.164 trillion, representing an increase of 0.99 per cent or N1.230 trillion. Similarly, the ...
The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has called for a radical overhaul of global digital cross-border payment systems to dismantle the barriers stifling growth in developing economies. Speaking at the 2026 G-24 Technical Group Meetings (TGM) in Abuja, the Governor emphasized that modernizing these financial conduits is no longer ...
Financial experts and global market observers are commending Central Bank of Nigeria (CBN) Governor Olayemi Cardoso for a strategic masterstroke in foreign exchange management. The decision to reopen official USD supply to licensed Bureau De Change (BDC) operators has not only improved retail liquidity but is being hailed as a decisive victory for transparency and ...
