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Stories by Seun Ibiyemi The Nigerian equities market began the week on a bullish note on Monday, September 15, 2025, with investors raking in N704 billion after five hours of trading on the floor of the Nigerian Exchange Group (NGX). The positive momentum was driven largely by price gains in LivingTrust Mortgage Bank, E-Tranzact Nigeria, ...
The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun has ordered the Nigeria Customs Service (NCS) to suspend the 4% Free on Board (FOB) levy levied on imported goods. The Minister issued this directive in a circular signed by the Permanent Secretary, Special Duties of the Ministry yesterday. According to the circular, ...
By Seun Ibiyemi Nigeria’s headline inflation rate eased to 20.12 per cent in August 2025, a decline from 21.88 per cent recorded in July 2025. This is according to the latest figures released on Monday by the National Bureau of Statistics (NBS). On a month-on-month basis, the headline inflation stood at 0.74 per cent in ...
By Seun Ibiyemi Afri Invoice, a leading digital invoicing platform, has announced a strategic partnership with Kuda Bank to empower Nigerian entrepreneurs and Small and Medium Enterprises (SMEs) with innovative tools that simplify financial operations and drive sustainable growth. Afri Invoice Chief Executive Officer, Mr. Mark Odenore, disclosed this in a statement on Monday in ...
By Olakunle Oke The Chartered Institute of Directors (CIoD) has formally performed the investiture of Otunba. Adetunji Oyebanji as the 19th President of the Chartered Institute of Directors (CIoD) Nigeria. The event held last week in Lagos with legal scholar and governance expert, Professor Fabian Ajogwu, OFR, SAN, delivered a stirring keynote address on “Leadership, Legacy, and ...
By Seun Ibiyemi As financial institutions scramble to meet new capital requirements, the first half of 2025 has witnessed Banks raise over N2.5 trillion in fresh capital through various means, including rights issues and private placements. This is according to figures reported in the 20th Nigeria Banking Sector Report 2025, titled “ACT-BOLD: Beyond a Trillion Dollar ...
The United Bank for Africa (UBA) Plc has pledged USD 150 million (KES 20.5 billion) to the Government of Kenya’s Roads Levy Securitization Program. This was announced during the UBA high powered delegation to Kenya led by the Group Managing Director/Chief Executive Officer of United Bank for Africa (UBA) Plc, Oliver Alawuba. The delegation paid a working visit ...
By Seun Ibiyemi Leading financial institution, Fidelity Bank Plc, has extended its flagship Corporate Social Responsibility (CSR) programme, the Fidelity Food Bank Initiative, to Anambra State, providing essential food supplies to more than 2,000 vulnerable residents in Awka. The two-day outreach, held at St. Patrick’s Cathedral (Catholic Diocese of Awka) and Emmaus House (Anglican Diocese ...
By Seun Ibiyemi The Central Bank of Nigeria (CBN) has announced that the 302nd meeting of its Monetary Policy Committee (MPC) will be held on September 22 and 23, 2025, at its headquarters in Abuja. According to a notice published on the Bank’s website, the meeting will open at 10:00 a.m. on Monday, September 22, ...
By Seun Ibiyemi First City Monument Bank (FCMB) Group Plc has projected a profit after tax (PAT) of N58.8 billion for the fourth quarter of 2025, according to its latest earnings forecast filed with the Nigerian Exchange (NGX). If achieved, the projection would bring the lender’s full-year profit to N171.5 billion—more than double the N73 ...
By Seun ibiyemi The Nigerian naira strengthened further in the parallel market on Monday, appreciating to N1,527 per US dollar, its highest level in more than a month. Data compiled by Nairametrics showed that the latest rate represents an improvement from Friday’s close of N1,530.96/$1 and marks the best performance of the local currency since ...
Union Bank of Nigeria Plc is preparing to commence the search for a new core investor following the completion of its long-awaited merger with TitanTrust Bank Limited, a development that signals a fresh chapter for the 107-year-old institution. The bank confirmed that it had secured final regulatory approval from the Central Bank of Nigeria (CBN), ...
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 ...
By Seun ibiyemi Nigeria’s equities market began the new trading week on a bullish trend, advancing by 0.30 percent at the close of trading on Monday, as renewed buying interest in select stocks lifted overall performance. The Nigerian Exchange Limited (NGX) All-Share Index (ASI) climbed to 139,394.75 points, while market capitalisation rose to N88.199 trillion. ...
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 ...
