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The Central Bank of Nigeria (CBN) allotted a total of ₦829.32 billion at its Nigerian Treasury Bills (NTB) auction on May 20, 2026, significantly exceeding its initial offer of ₦476.31 billion due to robust investor demand. A market analysis of the auction results revealed that the central bank capitalized on strong system liquidity to increase ...
First City Monument Bank (FCMB) has continued its financial literacy drive for secondary school students across Nigeria, helping young people build practical money management skills. The initiative, carried out in collaboration with the Central Bank of Nigeria (CBN) as part of the 2026 Global Money Week celebration, reached thousands of students across the country's six ...
The Group Managing Director and Chief Executive Officer of United Bank for Africa (UBA), Oliver Alawuba, has been honoured by the Institute of Chartered Accountants of Nigeria (ICAN) at its 2026 Annual Dinner and Awards Night. He was recognized alongside the Governor of Niger State, Umar Mohammed Bago; the Accountant-General of the Federation, Dr. Shamseldeen ...
First Bank of Nigeria Limited has announced the launch of its Naira Visa Debit Card in partnership with global payment giant Visa. The new card aims to extend accessible and reliable electronic payment capabilities to a broader segment of the Nigerian population. Targeted at everyday consumers who require a dependable payment instrument for routine domestic ...
...as Dangote targets retail participation for subscription The National Pension Commission has granted a waiver to Pension Fund Administrators, allowing them to invest pension assets in the upcoming Initial Public Offering of the Dangote Petroleum Refinery & Petrochemicals FZE. The decision, detailed in a circular dated May 13, 2026, suspends certain traditional investment restrictions to ...
The Securities and Exchange Commission has issued a fresh advisory warning Nigerians about the proliferation of unregistered and fraudulent investment schemes currently trending on social media. In a public notice released on May 14, 2026, the regulator cautioned that many platforms promising high or guaranteed returns on WhatsApp, TikTok, Instagram, and Telegram are operating as ...
By Damilare Adeleye First HoldCo Plc has confirmed the resignation of Dr. Julius Omodayo-Owotuga from its Board of Directors. In a regulatory filing submitted to the Nigerian Exchange Limited on Thursday, the financial services group noted that the departure of the Non-Executive Director became effective on May 7, 2026. Although the official notice, signed by ...
President Bola Tinubu, Managing Director of International Finance Corporation, Mr. Makhtar Diop, Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele and Managing Director of Bank of Industry, Supo Olusi, on the sidelines of the Africa CEO summit in Kigali, Rwanda
The Nigerian equities market retreated into negative territory at the close of trading, as the benchmark All-Share Index (ASI) declined by 10 basis points. Despite this marginal contraction, the market maintains a robust long-term trajectory, with the year-to-date (YTD) return standing firmly at 62.10%.Market liquidity saw a significant cooling period during the session. Trading volume ...
By Damilare Adeleye The Chairman of First HoldCo Plc, Olufemi Otedola, has increased his stake in the financial services group following the acquisition of shares valued at approximately ₦43.41 billion. This latest transaction, disclosed through an insider dealing notification filed with the Nigerian Exchange Limited (NGX), involved the purchase of 549,535,653 ordinary shares at ₦79 ...
The Nigerian equities market maintained its upward trajectory on Wednesday, closing with a marginal gain as the benchmark index advanced by 4 basis points. This steady performance has pushed the year-to-date return to an impressive 62.27%, underscoring the sustained recovery and growth within the domestic capital market. Investor participation remained robust throughout the trading session, ...
The Nigerian Naira recorded a slight gain against the U.S. Dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Wednesday. The USD/NGN pair saw a 0.3% decline, with the local currency closing at ₦1,370.56 per dollar. According to the latest data from the Central Bank of Nigeria (CBN), this marginal appreciation reflects the ongoing ...
The Federal Government has officially launched the South-West zonal engagement of the Ministerial Advocacy Tour to mobilize share capital for the establishment of the Cooperative Bank of Nigeria. During the event held at the LASCOFED Multipurpose Hall in Ikeja on Monday, the Minister of State for Agriculture and Food Security, Senator Dr. Aliyu Sabi Abdullahi ...
The Green Finance Investment Facility (GFiF), a blended finance platform to mobilise large-scale private and institutional investment into distributed renewable energy infrastructure across Nigeria, has officially launched. The facility, led by Barton Heyman Limited in partnership with the Rural Electrification Agency (REA), UK PACT, First City Monument Bank (FCMB), and ARMHIIL, aims to raise $188 ...
Economic specialists from the West African Tax Administration Forum (WATAF) and the Tax Justice Network Africa (TJNA) have revealed that African nations lose an estimated $89 billion every year to Illicit Financial Flows (IFFs). During an interactive session with ECOWAS parliamentarians at the 2026 First Ordinary Session in Abuja, the experts explained that these massive ...
The Naira on Tuesday recorded a mixed performance as the currency faced renewed pressure at the official window while holding its ground in the parallel market. Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) indicated that the Naira closed today at ₦1,375 per US Dollar. This represents a depreciation of 0.80% (₦11) from the ...
The Nigerian equities market maintained its upward trajectory as the benchmark index advanced by 0.41%, pushing the year-to-date return to an impressive 55.98%. This bullish momentum was underscored by a robust market breadth, with forty-seven gainers comfortably outpacing twenty-two decliners, while fifty-eight stocks remained unchanged. Such widespread gains suggest a resilient underlying sentiment that persists ...
Unity Bank says it disbursed more than N500 million to small-scale traders and shop owners nationwide through its Shop Collateralised Facility (SHOCOF), to boost small businesses and deepening financial inclusion. The bank disclosed this in a statement on Friday, noting that the loan product was designed to provide easier access to credit for operators in ...
The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso has recently hosted a delegation from Standard and Poor’s (S&P) Global Ratings as part of the periodic assessment of Nigeria’s creditworthiness. The visiting team, led by Mr. Roberto Sifon-Arevalo, Global Head of Sovereign Ratings, engaged in a series of technical discussions aimed at ...
The Nigerian Naira slightly appreciated in the official Nigerian Foreign Exchange Market (NFEM) on May 7, 2026 to ₦1,360.50 According to data released by the CBN, the Naira’s closing rate against the US Dollar stood at ₦1,360.50 representing a slight appreciation from the mid-week average. Market activity saw the currency hit an intraday high of ...
The House of Representatives has establishedan ad-hoc committee to investigate massive unpaid debts owed to the Federal Government by various state and non-state actors. This action stems from a motion of urgent public importance focused on the nation's deteriorating fiscal health, marked by a total public debt that surged to ₦153.29 trillion as of September ...
FirstBank has emerged as Nigeria’s strongest brand in the ‘Nigeria 25 2026’ ranking by Brand Finance. The recognition was announced in a statement issued by the bank on Wednesday in Lagos. The statement said FirstBank earned an AAA+ rating, the highest distinction awarded for exceptional brand strength and market leadership. Brand Finance evaluates brands annually ...
United Bank for Africa (UBA), Redtech, and MoMo PSB have launched a payment interoperability partnership to expand cardless payment access for consumers and merchants across Nigeria. Redtech is backed by Heirs Holdings, while MoMo PSB is the fintech subsidiary of MTN Nigeria. With this development, MoMo PSB customers can now make payments directly from their ...
