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The President, Association of Issuing Houses of Nigeria (AIHN), Kemi Awodein has attributed the decision of the Central Bank of Nigeria to embark on aggressive interest rate hikes in propelling investors’ demand for fixed income instruments in 2024. Speaking last week during the AIHN’s Annual General Meeting and presentation of 2024 financial statements in Lagos, she said ...
The Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance Corporation (NDIC) have called for stronger financial reforms and regulatory collaboration to enhance the stability, resilience, and inclusiveness of Nigeria’s financial system. The call was made on Thursday in Abuja during the Business, Economy and Financial Reporting Training for Journalists, organised by Premium Times ...
Zenith Bank Plc has disclosed that its Staff Provident Fund, comprising salary contributions from employees, recently invested about ₦2.3 billion in the bank’s shares, highlighting the institution’s strategy to grow staff benefits through equity participation. Details of the transaction were contained in a director dealing notice filed with the Nigerian Exchange (NGX) on November 11, ...
The House of Representatives’ Ad-Hoc Committee on the Economic, Regulatory, and Security Implications of Cryptocurrency Adoption and Point-of-Sale (PoS) Operations has stated that the country will not compromise on financial integrity and security in abid to promote innovation in financial payments. The Lawmakers made the pledge on Monday during a stakeholder session in Abuja, chaired by ...
The Managing Director and Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), Mr. Thompson Oludare Sunday, has said that the Corporation now operates under stronger and more effective laws that empower it to prosecute individuals responsible for bank failures and enhance its bank liquidation mandate. Mr. Sunday made this known when he received the ...
Nigeria's banking sector is overflowing with cash, as deposit money banks (DMBs) lodged a record N4.816 trillion with the Central Bank of Nigeria (CBN) through its Standing Deposit Facility (SDF) as of Friday, November 7, 2025. This massive deposit reflects growing risk aversion in the financial system. Banks are increasingly opting to earn a risk-free ...
The Securities and Exchange Commission (SEC) has approved Ellah Lakes Plc’s ₦235 billion public offer, paving the way for the company to raise capital for its planned acquisition of Agro-Allied Resources & Processing Nigeria Ltd. (ARPN). The approval marks a significant milestone in the company’s growth trajectory as it seeks to expand its agro-industrial footprint ...
Nigeria’s latest Eurobond issuance has attracted overwhelming investor demand, with subscriptions surpassing $9.1 billion more than four times the $2.25 billion offered despite global market unease triggered by U.S. political developments. According to the Debt Management Office (DMO), the dual-tranche offering, aimed at raising external capital and diversifying Nigeria’s funding sources, was heavily oversubscribed across ...
ABC Transport Plc has released its unaudited financial statement for the nine months ended September 2025, reporting a pre-tax profit of N926.8 million. This marks a significant improvement from the modest N1.3 million recorded in the same period of 2024, while post-tax profit surged 363 per cent year-on-year to N585.6 million. The strong performance was ...
Nigeria’s stock market suffered a significant setback on Wednesday, recording its sharpest daily decline since the beginning of November, as the benchmark index dropped by 1.19 percent. The downturn extended the market’s losing streak to three consecutive sessions, wiping out a total of over N2.1 trillion in value within the period. The latest decline was ...
By Seun Ibiyemi and Sofiyyah Layole Nigeria’s capital market suffered another sharp decline this week as renewed geopolitical tension, specifically triggered by President Donald Trump’s threat of military intervention in Nigeria, severely unsettled investors. Investors have so far lost a staggering ₦859 billion in market value in two days. The sustained sell-off saw the All-Share ...
Stories by Seun Ibiyemi The Federal Government (FG) has unveiled 50 new tax exemptions and relief measures aimed at reducing the financial burden on low-income earners, average taxpayers, and small businesses as part of the new tax reform laws taking effect from January 1, 2026. The comprehensive package, announced by the Presidential Fiscal Policy and ...
Oil marketers are strongly criticizing the Federal Government's proposal to levy a 15% import duty on petrol, arguing that the policy fundamentally contravenes the spirit of deregulation in the downstream petroleum sector. They warn the new duty will inevitably lead to an increase in pump prices for consumers. Speaking on behalf of the Independent Petroleum ...
First Bank of Nigeria Limited (First Bank), Nigeria’s premier and leading financial inclusion services provider, has announced the launch of the Verve Flash Promo, a special initiative rewarding customers with free Verve cards. The campaign, which commenced on 6 October 2025, and will run until 30 January 2026, is exclusively targeted at FirstBank customers whose ...
The Board of Directors of the African Development Bank Group (AfDB) has approved a significant $6 million grant to reinforce disaster preparedness and risk financing across the continent for the 2025–2026 period. The funding, approved on October 29 and channeled through the Bank’s African Disaster Risk Financing Initiative (ADRiFi), is specifically intended to support the ...
Nigeria’s plan to allow the Central Bank of Nigeria (CBN) to take over operations of the nation’s fixed-income market is likely to be withdrawn following objections from key government institutions, Bloomberg has reported. According to the report, the Ministry of Finance, the Securities and Exchange Commission (SEC), and the CBN are currently reviewing the proposal, ...
By Sofiyyah Layole Oando Plc has reported a significant jump in profitability, posting a profit after tax (PAT) of ₦201.31 billion for the nine months ended September 30, 2025. This marks a substantial improvement from the ₦76.30 billion recorded in the same period of 2024, a performance the company attributed primarily to a sharp increase ...
...says Kogi becoming more attractive to investors Kogi State Governor, Alhaji Ahmed Usman Ododo, on Thursday commissioned the Lokoja branch of Premium Trust Bank, marking the bank’s formal entry into the state’s financial landscape and reaffirming his administration’s commitment to creating a thriving business environment. Speaking at the event, Governor Ododo commended Premium Trust Bank ...
By Sofiyyah Layole Access Holdings Plc reported a profit after tax (PAT) of ₦447.55 billion for the nine months ended September 30, 2025. This figure marks a marginal decline from the ₦457.74 billion recorded in the corresponding period of 2024, despite sustained economic challenges. The Group’s unaudited results, released to the Nigerian Exchange Group (NGX), ...
The Aliko Dangote Foundation (ADF), in partnership with Sight and Life Foundation (SAL), has launched a nationwide initiative titled “Promotion of Production & Consumption of Fermented Foods for Food & Nutrition Security in Nigeria.” The program, unveiled at a workshop in Lagos, aims to combat malnutrition and improve food security by promoting the production and consumption ...
HabariPay Limited, the fintech subsidiary of Guaranty Trust Holding Company (GTCO), has reported a profit before tax (PBT) of ₦4.02 billion for the first half of 2025, representing a 95 per cent surge from the ₦2.07 billion recorded in the corresponding period of 2024. The figure, disclosed in GTCO’s half-year financial statement for the period ...
By Sofiyyah Layole Nestle Nigeria Plc has reported a strong financial performance for the first nine months of 2025, marking a solid return to profitability despite economic challenges. The company posted a 33 percent increase in revenue to N884.54 billion for the period ended September 30, 2025, up from N665.29 billion recorded in the same ...
Transnational Corporation Plc (Transcorp Group), one of Africa’s leading listed conglomerates, has reported a strong performance for the third quarter of 2025, driven by growth across its power and hospitality businesses. According to the company’s unaudited financial results released on Monday, revenue rose by 39 per cent year-on-year to ₦413.4 billion, compared to ₦297.7 billion ...
