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Nigerian businessman and philanthropist Tony Elumelu has called on investors in European countries not to be scared-off from investing in Africa, warning that the continent’s future could be shaped instead by China and Gulf nations if Europe remains passive. Elumelu, recognized as one of Africa’s wealthiest and most influential figures, amassed his fortune through investments in ...
The Nigeria Deposit Insurance Corporation (NDIC) and the Chartered Institute of Bankers of Nigeria (CIBN) have pledged to strengthen collaboration in addressing emerging issues in the country’s financial system, particularly in areas of digital banking, cybersecurity, and risk management. The Managing Director and Chief Executive Officer of NDIC, Mr. Thompson Oludare Sunday, made this known ...
The World Bank has projected that Nigeria’s debt as a share of its Gross Domestic Product (GDP) will decline in 2025, marking the first such reduction in over a decade. The Washington-based institution attributes this optimistic outlook to stronger economic growth and a more stable exchange rate. According to its latest Nigeria Development Update report, ...
Stanbic IBTC Pension Managers has officially launched the fourth edition of its FUZE Talent Show 2025, a nationwide platform dedicated to celebrating and promoting creativity among young Nigerians across the fields of music, dance, fashion, and technology. This year's edition, branded as "The Ultimate Show," aims to spotlight emerging talents and provide crucial empowerment for ...
The Emerging Tax Audit (OTA–ETA) team, a unit of the Federal Inland Revenue Service (FIRS), is celebrating Customer Service Week 2025 with a renewed commitment to the theme, “Mission Possible.” As a proud winner of the Outstanding Performance Award for both 2023 and 2024, the OTA–ETA team reaffirmed its dedication to the FIRS Management, stating ...
The former Governor of the Central Bank of Nigeria (CBN) and Emir of Kano, HRH Sanusi Muhammad Sanusi II, has thrown his support behind the CBN's monetary policies, asserting that the nation has been pulled back from the brink of total economic collapse. Speaking at the ongoing Nigerian Economic Summit Group (NESG) conference, the Emir ...
Interbank rates experienced mixed movement last week despite a continued surplus of liquidity in Nigeria's money market, which remained robust at ₦6.12 trillion. This stability was maintained following significant Open Market Operations (OMO) activity by the Central Bank of Nigeria (CBN). The banking system's liquidity actually strengthened, rising by ₦204.69 billion to ₦5.53 trillion, largely ...
President Bola Ahmed Tinubu has disclosed that a N200 billion fund specifically targeted at supporting Micro, Small, and Medium Enterprises (MSMEs) and local manufacturers will propel Nigeria's trillion-dollar economy ambition. Speaking at the 31st Nigerian Economic Summit (NES) in Abuja, Tinubu represented by Vice President Kashim Shettima, underscored the government's firm commitment to bold reforms aimed at unlocking ...
First City Monument Bank (FCMB) is marking Customer Service Week 2025 with a commitment to transforming everyday challenges into opportunities through personalized service and innovation. The global celebration, themed "Mission: Possible," runs from October 6 to 10. According to the Bank, the theme highlights its core belief that any goal is achievable with the right ...
Operators of Point-of-Sale (PoS) machines risk getting a minimum fine of ₦20 million if they alter the ownership structure of their machines without securing prior approval from the apex bank. This was disclosed in the revised Guidelines for the Operations of Agent Banking in Nigeria, issued on October 6, 2025 by the Central Bank of Nigeria (CBN). According to ...
By Denis Matthew, Abuja President Bola Tinubu has announced a significant surge in the Federal Government’s revenue collection, which climbed to ₦27.8 trillion as of August 2025. This achievement surpasses the annual revenue target of ₦18.32 trillion. The disclosure was made by Vice President Kassim Shettima, who represented the President at the 31st Nigerian Economic ...
Polaris Bank, in partnership with the Nigeria Conservation Foundation (NCF), has expanded its nationwide tree-planting campaign to three new locations: the Lekki Conservation Centre in Lagos State, the Federal University of Agriculture, Abeokuta (FUNAAB) in Ogun State, and Sardauna Memorial College in Kaduna State. The initiative, announced in a statement over the weekend, reflects the ...
...calls for policy to curb industrial actions in energy, transport, other sectors The Centre for the Promotion of Private Enterprise (CPPE) has called on the Federal Government to urgently create legal frameworks to protect investors and employers. This comes on the heel of the recent face-off between Dangote Refinery and PENGASSAN. In its latest policy brief titled “Protecting ...
The Securities and Exchange Commission (SEC) has imposed a fine of N50.145 million on Stanbic IBTC Capital Limited for breaching regulatory requirements related to the Guaranty Trust Holding Company Plc (GTCO Plc) public offer of shares. Stanbic IBTC’s half-year 2025 financial results confirmed the fine was issued due to the firm’s failure to obtain SEC’s ...
Investors in the Nigerian equities market gained a total of N1.1 trillion in the trading week that just ended, driven by a bullish sentiment that prevailed through all four trading sessions leading up to the Independence Day holiday. Data from the Nigerian Exchange Limited (NGX) showed that the market capitalisation increased to N91.1 trillion, up ...
The Presidential Committee on Fiscal Policy and Tax Reforms says the new Capital Gains Tax (CGT) regime on shares is designed to reduce business risks, strengthen investor confidence, and create a fairer tax system. The Chairman of the committee, Mr Taiwo Oyedele, disclosed this during a virtual market engagement with the Nigerian Exchange Group (NGX) ...
Insolvency experts have called on banks and practitioners to align loan agreements and practices with the rescue provisions of the Companies and Allied Matters Act (CAMA) 2020. Mr Albert Folorunsho, the Vice President, Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN), made the call at BRIPAN annual conference gala night on Friday in Lagos. ...
The Independent Media and Policy Initiative (IMPI) has applauded the Central Bank of Nigeria’s (CBN) decision to reduce the Monetary Policy Rate (MPR) to 27 per cent, describing it as a bold step towards stimulating economic growth. On Wednesday, Dr. Omoniyi Akinsiju, the Chairman of IMPI, announced in a statement that the group's recent move ...
President Bola Ahmed Tinubu and Kola Adesina, Group Managing Director of Sahara Power Group are set to headline the Chartered Institute of Directors (CIoD) Nigeria's 2025 Annual Directors' Conference. The prestigious event, which is the largest gathering of directors and boardroom executives in Africa, will bring together industry leaders, entrepreneurs, and corporate governance enthusiasts to ...
In a move to improve accessibility, First Bank of Nigeria Limited has announced the rollout of specialized banking services for customers with visual and physical disabilities. The initiative, according to the bank, underscores its commitment to financial inclusion and diversity, reinforcing its position as a leading service provider in West Africa. Patrick Akhidenor, Chief Risk ...
Shares of Guinness Nigeria Plc jumped more than 41 per cent in September, closing at N183.9 on September 23, 2025, their highest level in over a year on the Nigerian Exchange (NGX). The stock, which opened the month at N130, is on track for its strongest monthly performance to date if the rally continues. Year-to-date, ...
Guaranty Trust Holding Company Plc (GTCO) has released its audited results for the half year ended June 30, 2025, crossing the ₦1 trillion gross earnings milestone while sustaining its interim dividend payout of ₦1.00 per share, despite a sharp profit decline. The group posted a pre-tax profit of ₦601 billion, compared with ₦1 trillion in ...
All On, an impact investment company dedicated to expanding energy access in Nigeria, has reaffirmed its support for clean energy innovation with a follow-on investment in Koolboks’ $11 million Series A funding round. The round was led by KawiSafi Ventures, with All On and Aruwa Capital co-leading. The fresh capital will help Koolboks scale its ...
