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Nigeria’s push to become a $1 trillion economy by 2030 is being hampered by declining foreign investment, even as the government implements sweeping macroeconomic reforms. According to a recent report by the Bashir Adeniyi Centre for International Trade and Investment (BACITI) of the Nigerian Institute of International Affairs (NIIA), reforms such as exchange rate unification, ...
FCMB Group Plc has reported a robust financial performance for the nine months ended September 30, 2025, posting a 52 per cent increase in Profit After Tax (PAT) to N125.4 billion. The Group also highlighted significant progress in its recapitalisation efforts ahead of the Central Bank of Nigeria’s March 2026 deadline. The financial holding company ...
The newly inaugurated Chairman of the National Tax Policy Implementation Committee (NTPIC), Mr. Joseph Tegbe, has declared that the success of Nigeria’s tax reforms hinges on rebuilding the trust of the citizenry. Tegbe made this known following his inauguration by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, on Saturday. ...
...as Gov't reiterates commitment to developing water transport Experts have called for diversification, innovation and equity in the economy of Lagos. The Roundtable, organised by the Economic Intelligence Department under the Ministry of Economic Planning and Budget, was held at the Protea Hotel, CBD in Ikeja, with the theme “Building Forward: Unlocking Emerging Sectors for an Inclusive, Resilient, and Prosperous ...
The Chartered Institute of Bankers of Nigeria (CIBN) has announced the commencement of an Annual Ethics and Professionalism Summit, which will hold every December 4. This is as the CIBN also reaffirmed its commitment to fostering professionalism, supporting sustainable finance and strengthening capacity building across the sector to ensure a stable, trusted and future-ready banking industry. Joining the ...
Guaranty Trust Holding Company Plc (GTCO) has issued an official update on the status of its share capital structure in line with the Financial Conduct Authority’s (FCA) Disclosure and Transparency Rule 5.6.1R, which mandates listed companies to provide timely and accurate information on their voting rights and share capital. In a statement signed by the ...
The Securities and Exchange Commission (SEC) has issued a strong warning to Nigerians against investing in an online platform known as Glorious Wealth Fund (GWF), describing its operations as illegal and potentially fraudulent. In a statement on Thursday, the Commission said GWF, which operates via the website gloriouswealthfund.com, is neither registered nor licensed to offer any ...
United Bank for Africa (UBA) has unveiled a major strategic partnership with Lions Group, a leading entertainment and lifestyle company, to deliver exclusive benefits to customers and visitors during the highly anticipated ‘Welcome to the Detty Side’ festive campaign. The collaboration, designed to elevate December celebrations with premium entertainment experiences, will grant both existing and ...
Stories by Seun Ibiyemi The Securities and Exchange Commission (SEC) has granted approval for the listing of Commercial Papers (CP) on the Nigerian Exchange Limited (NGX) board. This approval signals a major milestone in Nigeria’s evolving capital market landscape. The new listing framework allows corporates and issuers to list and trade both conventional and non-interest commercial papers ...
DMO opens new savings bonds offer with up to 13.839% interest for investors of December, offering attractive interest rates to retail investors. According to a statement issued by the DMO, the first instrument is a two-year FGN Savings Bond due on December 10, 2027, with an annual interest rate of 12.838 per cent. The second ...
Africa’s Global Bank, United Bank for Africa (UBA) Plc, lit up the atmosphere of the Lagos Marina on Monday, with thousands of bright, colourful lights and serenading carols to ring in this year’s yuletide season. The beautifully organised ceremony had in attendance the bank’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, the Deputy Managing Directors, ...
Nigeria’s economy has maintained a trajectory of recovery, recording a 3.98 percent growth in real Gross Domestic Product (GDP) for the third quarter of 2025. While this figure represents a slight moderation from the 4.23 percent recorded in the second quarter, analysts at both Comercio Partners and the Centre for the Promotion of Private Enterprise ...
Investors in the Nigerian equities market recorded a loss of N197 billion at the close of trading on Monday, following a slump in the share prices of major stocks, including International Breweries, RT Briscoe, and Cornerstone. The downturn dragged the benchmark All-Share Index (ASI) down to 143,210.33 points, lower than the 143,520.53 points recorded on ...
Stories by Seun Ibiyemi The Central Bank of Nigeria (CBN) has reported significant progress in the ongoing banking sector recapitalization exercise, with 27 banks raising capital through public offers and rights issues. This was disclosed by the Governor, Mr. Olayemi Cardoso at the CIBN Annual Bankers’ Dinner recently in Lagos. According to Mr. Cardoso, 16 ...
First HoldCo Plc has announced the successful completion of its full divestment from FBNQuest Merchant Bank Limited, marking a major strategic shift within the group’s operations. The company disclosed that it has transferred 100 per cent ownership of the merchant banking subsidiary to EverQuest Acquisition LLP. In a notification issued to the Nigerian Exchange Limited ...
Ecobank Nigeria Limited has announced a tender offer for the remaining US$150 million of its US$300 million 7.125 per center Senior Note Participation Notes due in February 2026. The offer, which opened on Friday, 28 November 2025, allows eligible noteholders to tender their securities before the bond’s original maturity date of 16 February 2026. Investors ...
Stories by Seun Ibiyemi The Naira closed the week stronger in the official foreign exchange market, appreciating by N7.10. This rally was driven by a historic surge in foreign capital inflows, which totaled approximately $21 billion between January and October 2025 setting a new record for the country. The currency’s performance reflects renewed investor confidence, ...
The National Insurance Commission (NAICOM) has announced July 2026 as the final deadline for insurance and reinsurance companies to obtain licenses by meeting the new Minimum Capital Requirement (MCR), the Commission said on Thursday. The Commissioner for Insurance, Mr. Olusegun Omosehin said the deadline also marks the cut-off for companies to comply with the MCR, after ...
By Layole Soffiyah Access Holdings Plc is set to raise a fresh N40bn capital, a notice on the NGX has revealed. The Holdco in a notice signed by the Company Secretary, Sunday Ekwochi summoned its shareholders to an Extraordinary General Meeting scheduled for December 18, 2025. The meeting is expected to consider and approve a series of ...
By Sofiyyah Layole The Nigerian Exchange (NGX) sustained a positive trajectory during Thursday’s trading session, with key market indicators inching upward on the back of mild investor interest in mid- and large-cap stocks. The bullish sentiment lifted the All-Share Index (ASI) by 0.12 percent to close at 143,239.23 points, while the equity market capitalisation appreciated ...
By Sofiyyah Layole Sovereign Trust Insurance Plc has secured approval from its Board of Directors to raise N5 billion through a Rights Issue, marking the first phase of its recapitalization drive under the new Nigerian Insurance Industry Reform Act (NIIRA). The announcement, made in Lagos, comes after shareholders at the company’s 30th Annual General Meeting ...
VFD Group Plc has announced that the Securities and Exchange Commission (SEC) has approved an extension of its ongoing ₦50,673,964,000 Rights Issue, allowing the offer to remain open until 26 December 2025. The extension follows strong investor interest and increasing participation from retail shareholders, institutional investors, and members of the diaspora. According to the Company, ...
First Ally Capital Limited, a company associated with Ebenezer Olufowose, chairman of First Bank of Nigeria Limited, has acquired 64,516,129 shares of First Holdco Plc in a transaction executed on November 25 at the Nigerian Exchange Limited (NGX). The shares were purchased at N31.05 each, according to an insider dealing notification filed by First Holdco ...
