Latest in
The Nigerian naira began the trading week on a relatively stable footing against the United States dollar, signalling a continued period of calm in the nation’s foreign exchange market. Early trading data on Monday revealed the currency holding firm around ₦1,420.59 per $1 in the official Nigerian Foreign Exchange Market (NFEM), marking a slight improvement ...
The Nigerian equities market snapped its nine-day winning streak on Wednesday, January 15, 2026, as profit-taking activities dragged the All-Share Index (ASI) down by 714.7 points to close at 166,057.3. The bearish turn halted the sustained bullish run witnessed since the start of the year, although market breadth remained active with significant interest in select ...
The Board of Directors of International Breweries Nigeria PLC has announced the resignation of Mr. Carlos Coutino as Managing Director and member of the Board, effective March 1, 2026. Coutino, who joined the company in 2018 as National Sales/Trade Marketing Director, rose rapidly through the ranks to become Managing Director and Business Unit President in ...
The growth rate of Nigeria’s money supply slowed to a four-year low of 12.83 per cent in November 2025, reflecting aggressive liquidity mop-up measures by the Central Bank of Nigeria (CBN) aimed at taming inflationary pressures. Data released by the apex bank showed a sharp moderation in broad money supply growth after years of rapid ...
The Naira recorded a mixed performance against the United States dollar during trading sessions today, reflecting continued volatility in Nigeria’s foreign exchange market amidst persistent demand pressures. At the official Nigerian Foreign Exchange Market (NFEM), the local currency oscillated within a narrow range, registering marginal movement as dollar liquidity remained constrained. Market sentiment appeared cautious, ...
Wema Bank has inaugurated an upgraded version of its digital banking platform, ALAT by Wema, introducing new solutions designed to make everyday banking faster, smarter and more reliable for customers. This was disclosed in a statement issued by the bank’s media unit on Monday in Lagos. According to the statement, the upgrade seeks to address ...
The naira posted a mixed performance on Monday, appreciating slightly in the official foreign exchange market while weakening marginally in the parallel market, reflecting persistent demand pressures and liquidity dynamics in the country’s FX space. At the Nigerian Foreign Exchange Market (NFEM), the local currency gained modestly against the US dollar during trading. The naira ...
First HoldCo Plc has unveiled a new round of board appointments across its non-commercial banking subsidiaries, a move aimed at reinforcing corporate governance, enhancing oversight, and positioning the Group for sustainable growth. The appointments, which received regulatory approvals from the Securities and Exchange Commission (SEC) and the National Insurance Commission (NAICOM), bring experienced industry professionals ...
The Central Bank of Nigeria (CBN) opened the 2026 monetary year with strong investor appetite at its first Open Market Operations (OMO) auctions, attracting total subscriptions of ₦2.727 trillion across medium-term maturities. The outcome of the January 6, 2026, auction reinforced the apex bank’s tight liquidity posture, with stop rates clustered between 19.34 per cent ...
By Seun Ibiyemi Ten Nigerian banks have been listed among Africa’s Top 100 Banks, reinforcing Nigeria’s status as one of the continent’s leading financial markets despite economic headwinds. According to the latest ranking published by African Banker in its 4th Quarter 2025 edition, the Nigerian lenders that made the prestigious list are Access Bank, Zenith ...
By Seun Ibiyemi Nigeria’s banking sector is expected to record stronger loan growth and more resilient earnings in 2026, driven by recent recapitalisation efforts and a gradually stabilising macroeconomic environment, according to analysts at Cordros Capital. In its 2026 outlook report, the investment firm noted that banks have significantly expanded their capital bases, with system-wide ...
Showmax has expanded its payment options in Nigeria through a partnership with Baxi by Onafriq, giving customers an easier and more convenient way to subscribe and stay connected to world-class streaming entertainment. Starting Monday, 22 December 2025, existing Showmax customers can log into the Baxi by Onafriq app, select and pay for any of Showmax plans including: Showmax ...
As Nigeria begins the implementation of its New Tax Law, a fresh analysis by Andersen Nigeria has warned that the reforms may inadvertently widen the economic gap between high-performing and low-performing states unless subnational governments urgently align their tax reforms with infrastructure strategy. The report argues that while the new framework aims to harmonize taxes ...
By Seun Ibiyemi Wema Bank Plc has announced the commencement of a Closed Period in line with Rules 17.17–17.18 of the Nigerian Exchange Limited (NGX) Rulebook (as amended). The statement was signed by the Company Secretary and General Counsel, Mr. Johnson Lebile. According to a statement by the Bank, the Closed Period became effective from ...
In the spirit of the festive season, leading financial institution, Fidelity Bank Plc has reaffirmed its commitment to inclusive community support through a charitable outreach to Oluyole Cheshire Home, Ibadan. The visit, carried out through its Corporate Social Responsibility (CSR) initiative, the Fidelity Helping Hands Programme (FHHP), provided food items and essential supplies to children ...
The Chartered Institute of Directors of Nigeria (CIoDN) has called on the Federal Government to maintain spending discipline, boost local production, and strengthen governance as the key drivers of economic growth in 2026. The Director-General of CIoDN, Dr. Taiwo Nolas-Alausa, made these remarks over the weekend in Lagos during the presentation of the institute’s New ...
FirstBank Group has announced plans to host the Nigeria Economic Outlook 2026 on January 6, an initiative designed to equip customers and stakeholders with vital insights for navigating the economy early in the year. The webinar, themed "The Great Calibration: Mastering Resilience in an Era of Asynchronous Growth," aims to review the economic landscape, present ...
By Seun Ibiyemi The Nigerian Naira began the 2026 trading year on a bullish note, appreciating by N4.90 against the United States dollar at the official foreign exchange market, a development that coincides with renewed calls from industry leaders for sustained fiscal discipline and strategic economic planning. Data from the official market indicated that the ...
By Seun Ibiyemi Nigeria’s newly enacted tax law did not emerge in isolation, it is the product of years of fiscal strain, weak revenue performance, and growing pressure on government finances. As Africa’s largest economy struggles to fund basic services amid declining oil revenues and rising public debt, the new legislation represents a decisive attempt ...
Nigeria’s economic activity expanded at a faster pace in December 2025, marking a sharp improvement in business conditions as the Composite Purchasing Managers’ Index (PMI) climbed to 57.6 points. This represents the strongest level in about five years, signaling broad-based growth across the economy as the year ended. The December 2025 PMI Survey released by ...
Dangote Cement Plc has notified the Nigerian Exchange Limited (NGX) and the investing public that its Board of Directors will meet on February 26, 2026, to review and approve the company’s Audited Financial Statements for the year ending December 31, 2025. In line with regulatory requirements, the company will enter a Closed Trading Period starting ...
By Seun Ibiyemi The Central Bank of Nigeria (CBN) has issued a dual-toned macroeconomic outlook for 2026, celebrating a robust recovery in foreign reserves while sounding a sharp alarm over deteriorating asset quality in the banking sector. In a pivotal shift for the industry, Nigeria’s non-performing loans (NPLs) have surged to an estimated 7.00%, officially ...
FCMB Asset Management Limited (FCMBAM) has received regulatory approval for the Series II Issuance of its FCMB-TLG Private Debt Fund, paving the way for the launch of up to ₦20 billion in fresh capital aimed at supporting Nigeria’s mid-sized corporates. Following the approval, FCMBAM held a formal signing ceremony in Lagos to execute the transaction ...
