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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, ...
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 ...
First City Monument Bank (FCMB) has officially opened a new branch in Sangotedo, Lagos, drawing strong praise from traditional rulers and local authorities who described the move as a vital step towards stimulating economic activity in the rapidly developing area. The ceremonial launch over the weekend brought together traditional leaders, local government officials, and senior ...
The Central Bank of Nigeria (CBN) has warned Nigerian banks and fintechs to be wary of cybersecurity risks as they move into open banking. The Director of Payments System Policy at the CBN, Mr. Musa Jimoh, gave this charge while speaking during the Q2 Regulators Forum of the FintechNGR themed, “Beyond Compliance: Unlocking Innovation with ...
The Founder and Chairman of Heirs Holdings, Mr. Tony Elumelu, has emphasized the critical role of robust financial institutions in supporting the private sector to drive economic transformation across Africa. Speaking at the 32nd Afreximbank Annual Meetings in Abuja ober the weekend, Elumelu point out how partnerships between institutions like Afreximbank and African businesses can ...
By Seun Ibiyemi Guaranty Trust Bank Ltd. has announced that all its branches across Nigeria will close earlier than usual on Monday, June 30. The bank made this known in a customer email sent on Saturday, informing clients of the temporary change in operation hours. According to the message, the early closure is to allow ...
Guaranty Trust Bank Ltd. has announced that all its branches across Nigeria will close earlier than usual on Monday, June 30. The bank made this known in a customer email sent on Saturday, informing clients of the temporary change in operation hours. According to the message, the early closure is to allow for the bank’s ...
...Nominees to strengthen public trust in financial institutions -Lado By Seun Ibiyemi The Senate on Thursday confirmed the appointments of Mr Thompson Sunday as Managing Director and Dr Kabir Katata as Executive Director of the Nigerian Deposit Insurance Corporation (NDIC). Their confirmation followed the consideration and approval of a report submitted by the Senate Committee ...
The Nigerian stock market closed on a negative note on Thursday with key performance indicators dropping by 0.4 per cent. This is after a three-day consecutive uptrend. The market capitalisation dropped by N308 billion, or 0.4 per cent, closing at N76.453 trillion, down from N76.761 trillion recorded on Wednesday. Also, the All-Share Index shed 485.01 ...
Investor demand for stocks such as Oando, Dangote Sugar Refinery, and CWG drove Nigeria’s equities market higher on Wednesday, with the All-Share Index (ASI) gaining 1.22 percent at the close of trading. The market’s benchmark performance indicator crossed the 120,000-point threshold, reflecting sustained positive sentiment and continued bullish momentum. As of Wednesday’s close, the year-to-date ...
By Matthew Denis The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, has called on African leaders, financial institutions, and the diaspora to unite behind a development agenda that is “African-led and African-owned,” as the continent seeks to build on its history of economic resilience and reduce reliance on external influences. Cardoso made ...
Industrial & Medical Gases Nigeria Plc (IMG) has secured shareholder approval to raise N6.5 billion via a rights issue, aimed at strengthening its capital base and expanding its operations. The endorsement came during the company’s Annual General Meeting (AGM) held in Lagos, where other key resolutions were also passed. As part of its reward to ...
By Seun Ibiyemi Fidelity Bank Plc has reiterated its commitment to regulatory compliance and financial resilience in response to the recent circular issued by the Central Bank of Nigeria (CBN) regarding forbearance on the Single Obligor Limit (SOL) and other credit facilities. In an official statement released to shareholders, NGX Regulation Limited (NGX RegCo), and ...
