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By Nana Musa The International Monetary Fund (IMF) has endorsed Nigeria’s ongoing bank recapitalisation drive.It said that stronger capital buffers are cushioning the financial system against external shocks and strengthening resilience amid intensifying global uncertainties.Tobias Adrian, Financial Counsellor and Director of the Monetary and Capital Markets Department of the IMF, said this during the Global ...
The Nigerian equities market maintained a bullish trajectory on Tuesday, with the market capitalization of the Nigerian Exchange (NGX) crossing the ₦132 trillion threshold. This positive momentum was largely propelled by significant rallies in high-cap stocks, most notably Ecobank Transnational Incorporation (ETI) and Stanbic IBTC. By the close of the trading session, the All-Share Index ...
The Federal Government has provided an update on online marketplace, Temu's infractions following an investigation by the Nigeria Data Protection Commission (NDPC). The Commission noted that the investigation is ongoing noting that Temu has requested an extension of time to appear before the commission. National Commissioner of the NDPC, Mr Vincent Olatunji in an interview with the ...
...set to pay N2 interim dividend By Damilare Adeleye Guinness Nigeria PLC has achieved a landmark milestone, surpassing the ₦1 trillion mark in market capitalisation on the Nigerian Exchange (NGX), underscoring strong investor confidence and a sustained track record of value creation. As of April 10, 2026, the company’s market capitalisation stood at approximately ₦1.01 ...
By Damilare Adeleye Ecobank Group has announced a robust financial performance for the year 2025, recording the sum of N904.7 billion profit after tax. This was disclosed in the bank’s audited financial statement released on Friday, April 10, 2026 by its Chief Executive Officer Jeremy Awori and its Executive Director and Chief Financial Officer, Ayo ...
The Group Chief Executive Officer of Guaranty Trust Holding Company Plc (GTCO), Segun Agbaje will earn ₦490 million ($359,000) in dividends from his minority stake, according to recent corporate filings. This payout follows GTCO’s 2025 final dividend recommendation, a decision reached even as the financial institution faced earnings pressure across its primary lending operations. Agbaje’s ...
Access Bank Plc has been named Nigeria’s Most Valuable Brand for the fifth consecutive year by Brand Finance, reinforcing its leadership position in the country’s financial services sector. Brand Finance announced this in its Nigeria 25 2026 report, which ranks the country’s strongest brands based on brand value, brand strength, and underlying business performance. According ...
Zichis Agro-Allied Industries Plc has denied reports that it is on the verge of launching an Initial Public Offering (IPO). In a regulatory filing released on Monday, April 13, 2026, the company stated that while it has not made any official announcement regarding a public offering at this time, it is preparing to seek shareholder ...
The Nigerian Naira demonstrated notable stability in the official foreign exchange market on Monday, April 13, 2026, as the Central Bank of Nigeria (CBN) continues its strategic efforts to manage liquidity and curb excess volatility. Trading at the Nigerian Foreign Exchange Market (NFEM) opened the new week with the local currency pegged at a central ...
The United Arab Emirates has been selected to host the 2029 Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG). Following an announcement on April 10, 2026, the global financial summit is scheduled to take place in Abu Dhabi. This decision marks a significant milestone for the UAE, as it ...
The Nigerian Exchange kicked off the trading week on a bullish note as investors gained approximately ₦462 billion. This upward trajectory reflects strategic positioning by market participants in both growth and value stocks as anticipation builds for the release of first-quarter earnings reports. Positive sentiment dominated the bourse, pushing the primary performance indicators up by ...
International investors have contributed approximately N1.27 trillion to the just concluded banking sector recapitalisation exercise by the Central Bank of Nigeria (CBN). The CBN in a post on its social media diaclosed that Banks successfully mobilised a total of N4.65 trillion in fresh capital. The influx of foreign capital represents 27.45% of the total funds raised, serving as a powerful endorsement ...
The Centre for the Promotion of Private Enterprise has kicked against the World Bank’s recent policy advocacy, cautioning that a return to heavy reliance on fuel and food imports could reverse the country’s economic gains. In a policy brief issued by Chief Executive Officer Dr. Muda Yusuf, the think tank characterized the World Bank’s Nigerian ...
The Central Bank of Nigeria (CBN) has dismissed a viral image claiming to show a newly introduced ₦5,000 banknote, labeling the report as fake. On Thursday, an image circulated widely across social media platforms with users alleging that the apex bank had released a sample of a ₦5,000 note featuring the portrait of President Bola ...
Intra-African trade is on track to reach $230 billion by 2026, driven by the accelerated implementation of the African Continental Free Trade Area (AfCFTA), the newly released "African Trade and Economic Outlook 2026" report by Afreximbank has revealed. Group Chief Economist and Managing Director of Research at Afreximbank, Yemi Kale noted in the report's foreword ...
By Ejire Folakunmi The African Export-Import Bank has reported robust financial results for the year ended December 31, 2025, with its total assets and contingencies rising by 21 per cent to $48.5 billion, up from $40.1 billion recorded in the previous year. The bank disclosed this in a statement released from Cairo on April 9, ...
...encourages CBN to tighten monetary policy The World Bank has called on the Nigerian government to utilize current economic windfalls to strengthen fiscal cushions and protect the nation’s most vulnerable citizens. In its April 2026 Nigeria Development Update (NDU) titled "Nigeria’s Tomorrow Must Start Today: The Case for Early Childhood Development," the Bank emphasized that ...
The Nigerian Naira exhibited a resilient performance as the foreign exchange market re-opened for full activity on Tuesday, April 7, 2026, following the Easter break. The currency maintained a steady trajectory despite marginal intraday fluctuations, closing the session at an implied rate of ₦1,383.13/$1. According to market data seen on the Central Bank of Nigeria ...
By Damilare Adeleye The African Development Bank Group (AfDB), the African Union Commission (AUC), the United Nations Development Programme (UNDP), and the United Nations Economic Commission for Africa (UNECA) have raised concerns over growing global economic volatility. They warned that escalating shocks particularly from the ongoing Middle East conflict pose significant risks to African economies. In ...
The Presidential Enabling Business Environment Council (PEBEC) has directed all federal Ministries, Departments, and Agencies (MDAs) to immediately pause the introduction of new policies and major regulatory changes. In a statement signed by the Director General of PEBEC, Zahra Auda, the council explained that this directive is in line with the Federal Government's commitment to ...
The National Insurance Commission (NAICOM) is set to increase the minimum capital base for microinsurance firms from the previous tiered levels to a uniform ₦3 billion. Under the previous structure, unit microinsurers were required to hold ₦40 million, state microinsurers ₦100 million, and national microinsurers ₦600 million. This change is part of the Nigeria Insurance ...
The Centre for the Promotion of Private Enterprise (CPPE) has cautioned the Central Bank of Nigeria (CBN) against further monetary tightening, warning that additional interest rate hikes could be counterproductive to the nation's fragile economic recovery. In its Q1 2026 Economic Review and Q2 Outlook, the CPPE acknowledged that while the MPC reduced the policy ...
