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FirstBank has announced the appointment of Prof Kenneth Amaeshi as the first Occupier of the FirstBank Samuel Asabia Professorial Chair of Business Ethics at the University of Lagos (UNILAG). The FirstBank Samuel Asabia Professorial Chair of Business Ethics is an academic position at UNILAG, instituted in 1994 as part of the FirstBank Education Endowment programme ...
The Nigerian Naira showed mixed performance against the United States Dollar in foreign exchange trading on Thursday, reflecting ongoing market pressures as year-end dynamics take hold. In official markets, the Naira traded in a narrow range as the U.S. dollar exchange rate hovered around ₦1,453 to ₦1,459 per dollar in early trading, with opening levels ...
Nigeria’s leading fully integrated edible oils producer, Presco Plc, has announced the strategic acquisition of 10,000 hectares of plantation land across the Nsadop and Boki estates in Cross River State, strengthening its long-term growth plan and production capacity. This was stated in a statement made available on NGX website. The company said the acquisition represents ...
In a move to strengthen its regulatory standing and prepare for a significant industry shake-up, the Board and Executive Management of Guinea Insurance PLC recently paid a strategic courtesy visit to the National Insurance Commission (NAICOM) in Abuja. The delegation, led by Board Chairman Mr. Temitope Borishade, was received by the Commissioner for Insurance and ...
The Nigerian naira recorded a cautious performance on Wednesday, trading slightly weaker against the United States dollar across both the official and parallel foreign exchange markets amid sustained demand pressures. At the Nigerian Foreign Exchange Market (NFEM), the naira depreciated marginally as the dollar exchanged at about ₦1,453 to the greenback, reflecting mild weakness compared ...
First Bank of Nigeria has launched a Digital Xperience Centre (DXC) at the University of Benin, describing the facility as an exceptional feat in its shared commitment to innovation. In a speech at the event, the bank’s Chief Executive Officer, Mr Olusegun Alebiosu, said the bank’s digital innovations would not lead to job losses. Alebiosu ...
The Nigeria Deposit Insurance Corporation (NDIC) and the Nigeria Inter-Bank Settlement System (NIBSS) Plc are set to sign a Memorandum of Understanding (MoU) aimed at ensuring a faster and more efficient reimbursement process for depositors in the event of bank failures. This was disclosed by the Managing Director/Chief Executive of the NDIC, Mr. Thompson Oludare ...
The Nigerian naira showed relative stability in early trading on Tuesday, with official foreign exchange data indicating a steady performance against the US dollar, even as demand pressures persisted in the parallel market. According to financial market reports, the Naira traded around ₦1,452 to the US dollar in the official Nigerian Foreign Exchange Market (NFEM) ...
Jaiz Bank Plc has announced the appointment of Dr. Tukur Galadima as its new Chief Compliance Officer (CCO), in strict adherence to the Nigeria Exchange Limited (NGX) Rulebook. In a regulatory filing to the NGX and the investing public, the non-interest bank confirmed that the appointment has received the requisite approval from the Central Bank ...
Seplat Energy Plc has reported a remarkable surge in revenue for the nine months ended September 30, 2025, underscoring strong operational performance and robust financial management. According to the interim management report, revenue for the period climbed to $2.18 billion, representing a 204 percent increase compared to $715 million in the same period of 2024. ...
Sterling Financial Holdings Company Plc has notified the Nigerian Exchange Limited (NGX), its shareholders, and the investing public of a scheduled meeting of its Board of Directors to deliberate on the company’s unaudited financial results. The board meeting is slated to hold in Lagos on Wednesday, January 28, 2026, at 10:00 a.m., where the unaudited ...
The Deputy Managing Director of United Bank for Africa Plc (UBA) Muyiwa Akinyemi alongside three Executive Directors will retire from the board of the group effective January 1, 2026, following the completion of their tenure. The disclosure was contained in a notice signed by the Group Company Secretary, Bili Odum, and filed with the Nigerian Exchange over ...
The Nigerian naira closed the week on a positive note on Friday, appreciating by N1.65 against the United States dollar at the official foreign exchange market. Data published on the Central Bank of Nigeria (CBN) website showed that the local currency traded at N1,454.41 per dollar on Friday, representing a 0.11 per cent gain compared ...
Nigeria’s development and merchant banks, FSDH Merchant Bank (FSDH) and the Bank of Industry (BOI), have urged women-led businesses to prioritise meeting key criteria to secure financing, warning that simply being a female-owned enterprise does not guarantee access to credit. The institutions emphasised that the main obstacles are poor business structures, unclear operational plans, and ...
The Securities and Exchange Commission (SEC) has asked the Investments and Securities Tribunal (IST) to order the freezing of bank accounts belonging to Crypto Bridge Exchange (CBEX) and 25 other defendants alleged to have operated an unlawful digital asset investment scheme that defrauded Nigerians of an estimated N1.3 trillion. The request was made during the ...
FCMB Group Plc has projected a post-tax profit of N62.5 billion for the first quarter of 2026, signaling a 94.08 pet cent increase compared to the N32.2 billion recorded in Q1 2025, according to its recently released earnings forecast. The bank has a consistent history of surpassing its own profit projections. In Q1 2025, FCMB ...
...summon bank CEOs over alleged illegal charges The House of Representatives has summoned Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN), alongside other relevant agencies, to appear before its Public Accounts Committee (PAC) on Tuesday, December 16, to explain the non-remittance of over ₦16 trillion in government revenue. The decision follows a motion ...
By Seun Ibiyemi Investors in the Nigerian equities market lost N34 billion on Wednesday following declines in key stocks, including Chams Plc, Haldane MCall, and UAC Nigeria. The All-Share Index (ASI) dropped to 146,862 points from 146,940.29 recorded the previous day, while market capitalisation fell slightly to N93.6 trillion from N93.64 trillion. Market activity showed ...
The Central Bank of Nigeria (CBN) has granted final licenses to 82 Bureaux De Change (BDCs), authorizing them to commence full operations effective November 27. The development was announced in a statement issued in Abuja on Monday by the CBN’s Acting Director of Corporate Communications, Mrs. Hakama Sidi-Ali. She stated that the licensing exercise was ...
Nigeria’s subnational debt landscape witnessed notable movements in the first half of 2025, as 26 states recorded fresh external borrowings totaling $239 million, according to the latest figures released by the Debt Management Office (DMO). The DMO reported that Nigeria’s total external debt now stands at $46.98 billion. While new borrowings were recorded, aggressive repayments ...
The Central Bank of Nigeria (CBN) on Tuesday has inaugurated a revamped board for the Agricultural Credit Guarantee Scheme Fund (ACGSF). The ceremony took place in Abuja, with officials, board members, and industry stakeholders in attendance. Speaking at the event, Cardoso highlighted the persistent financing gap in Nigeria’s agricultural sector, noting that less than 5 ...
The Central Bank of Nigeria (CBN) on Tuesday took the market by surprise, rejecting a total subscription of N1.3 trillion staked against its Open Market Operation (OMO) bills at the main auction. Despite offering N600 billion worth of bills across standard maturities to eligible market players including banks and foreign portfolio investors, the apex bank ...
TAJBank Limited has signed a Memorandum of Understanding (MoU) with the National Hajj Commission of Nigeria (NAHCON) on Hajj Savings Scheme (HSS). The Managing Director/CEO of TAJBank, Mr Hamid Joda made this known on Monday in Abuja, during the signing of the MoU. Joda said that it was in furtherance of its ethical banking drive ...
