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Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has forecast a potential decline in interest rates, pointing to easing inflation and more efficient capital allocation as factors that could drive a more stable lending environment. Speaking at the European Business Chamber (Eurocham Nigeria) C-Level Forum in Lagos, Cardoso noted that prevailing commercial lending ...
Providus Bank has been recognised as one of Nigeria’s best workplaces in the banking sector for 2025, according to a new report by Great Place to Work (GPTW), the global authority on workplace culture. The honour reflects the bank’s dedication to building a positive, supportive environment for its workforce and strengthening employee trust, a factor ...
The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr Ola Olukoyede, has called for robust regulatory frameworks to govern Nigeria’s cryptocurrency sector, warning that without clear rules the space could become a safe haven for fraud and money laundering. Speaking on Wednesday, September 3, 2025, during a courtesy visit by the Stakeholders ...
The Nigerian Naira opened September 2025 on strong footing, sustaining the upward momentum recorded in late August across both the official and parallel foreign exchange markets. The continued appreciation is viewed by market participants as a sign of improved liquidity and shifting investor sentiment, offering a boost to confidence in the capital market. Data for ...
By Seun Ibiyemi The Nigerian equities market bounced back strongly on Thursday, adding ₦520 billion in market capitalisation after three consecutive sessions of losses. Renewed buying interest in stocks including Ellah Lakes, Veritas Kapital, Honeywell Flour Mill, AXA Mansard, Royal Exchange, and 36 other gainers powered the rally. Market capitalisation climbed by 0.6 per cent ...
Sovereign Trust Insurance Plc has announced plans to raise up to N20 billion in new capital and will seek shareholder approval at its 30th Annual General Meeting (AGM), scheduled for 25 September 2025. In a notice submitted to the Nigerian Exchange, the insurer disclosed that the proposed capital injection could be undertaken through various equity ...
The Nigerian Exchange Limited (NGX) has lifted the suspension on trading in the shares of Universal Insurance Plc, allowing investors to resume transactions on the company’s stock. The development was confirmed in the NGX’s latest weekly bulletin, which referred back to a prior notice issued on 1 September 2025, with Reference Number: NGXREG/IRD/MB64/25/09/01. That earlier ...
By Seun Ibiyemi First Bank of Nigeria has confirmed a temporary disruption to several of its digital banking platforms, which has left some customers facing difficulties in completing transactions across key services. In a notice issued on Thursday, the bank reported that the downtime is currently affecting transfers and other transactions on FirstMobile, FirstOnline, and ...
By Seun Ibiyemi The Federal Government spent a staggering N8.93 trillion on debt servicing between January and September 2024, accounting for 61 percent of the total revenue earned within the period, according to the latest budget implementation report. This figure exceeded the projected N6.03 trillion earmarked for debt servicing for the nine-month period, underscoring the ...
Unity Bank Plc shareholders are preparing to decide on a proposed merger with Providus Bank Limited, which offers them either N3.18 per share or 18 Providus Bank shares for every 17 Unity Bank shares they currently own. The Federal High Court in Lagos has ordered a shareholder meeting for 26 September 2025 to consider and ...
Dangote Sugar Refinery Plc’s Series 13 and 14 Commercial Paper (CP) issuance, worth up to N50 billion, is set to close on Wednesday, September 3, 2025. The offer is being raised under the company’s N300 billion Commercial Paper Issuance Programme. A subsidiary of Dangote Industries Limited, Dangote Sugar is a major player in refining, distributing, ...
The Nigerian stock market extended its bearish run on Tuesday, wiping out N623 billion in value as investors engaged in sustained profit-taking across key equities. Market capitalisation fell by N623 billion or 0.71 per cent, closing at N87.783 trillion compared with Monday’s figure of N88.406 trillion. The All-Share Index (ASI) also dropped by 984.55 points ...
Chairman of Keystone Bank Limited, Ada Chukwudozie, has called on the next generation of Nigerian bankers to embrace integrity, innovation, and continuous learning as essential pillars of success in a rapidly changing financial sector. She made the appeal on Saturday while addressing over 1,000 new inductees at the 2025 Chartered Banker Induction and Prize Awards ...
The Debt Management Office (DMO) has called on sub-national governments across Nigeria to adopt robust debt management strategies to safeguard economic stability and drive sustainable development. Director-General of the DMO, Patience Oniha, delivered the message on Tuesday during a World Bank-assisted workshop on “Borrowing Guidelines for Top Policy Makers” held in Lagos. Oniha explained that ...
injectionGuaranty Trust Holding Company Plc (GTCO) has invested ₦365.9bn in its banking subsidiary, Guaranty Trust Bank Limited (GTBank), ensuring compliance with the Central Bank of Nigeria’s new minimum capital requirement for commercial banks with international authorisation. The holding company disclosed this in a statement filed with both the Nigerian Exchange Limited (NGX) and the London ...
Ecobank Nigeria has announced its latest investment in cultural advancement with an art exhibition celebrating the creativity and legacies of some of Nigeria’s most acclaimed artists. The exhibition, titled Enduring Legacy: A Collector’s Tribute to Masters, opened on Saturday, August 30, and runs until September 21 at the Ecobank Pan African Centre (EPAC), Victoria Island, ...
The Director-General of the Budget Office of the Federation, Mr Tanimu Yakubu, has said President Bola Tinubu’s foreign exchange reforms have repositioned the Naira as a driver of competitiveness rather than a symbol of weakness. Yakubu, in a statement released over the weekend, recalled that the administration’s decision to scrap Nigeria’s multiple exchange rate windows ...
The Chartered Institute of Bankers of Nigeria (CIBN) has inducted 1,242 new members into its ranks of Chartered Bankers and Microfinance Certified Professionals during the 2025 Stream II induction ceremony held in Lagos over the weekend. The event, themed “The Smart Banker’s Compass: Innovate, Adapt, and Solve Like a Pro”, was described as a celebration ...
Okomu Oil Plc has reported a pre-tax profit of N34.841 billion for the quarter ended 30 June 2025, marking a year-on-year growth of 459 per cent compared to N6.236 billion posted in the same period last year. The company also surpassed its second-quarter profit projection by more than 238 per cent, propelling its pre-tax profit ...
Moody’s has upgraded the outlook on Ecobank Transnational Incorporated’s (ETI) long-term issuer and senior unsecured debt ratings from negative to stable. In its latest commentary released on Thursday, the ratings agency reaffirmed the pan-African banking group’s B3/Not Prime long- and short-term issuer ratings, B3 senior unsecured debt rating, B2 notional Baseline Credit Assessment (BCA) and ...
Sterling Financial Holdings Company Plc (SFHC or “the Group”) has announced its audited financial results for the year ended 31 December 2024, delivering a strong performance characterised by substantial earnings growth, a strengthened balance sheet, and a return to dividend distribution. The Group recorded a profit after tax (PAT) of ₦43.68 billion, a 102 percent ...
