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The Alternative Bank (AltBank) has opened a new branch in Ondo State with plans to deploy sector specific financing solutions in the state. In a statement issued on Tuesday, the Bank reinforced its commitment to deepening ethical finance and driving inclusive economic growth across Nigeria. With Ondo State’s economy anchored largely on agriculture, particularly cocoa production, poultry farming, ...
The Debt Management Office (DMO) is set to open subscriptions for Federal Government of Nigeria (FGN) bonds valued at N800 billion today. This massive monthly auction comes at a strategic pivot point for the Nigerian fixed-income market, as authorities seek to capitalize on a recent surge in investor appetite following better-than-expected inflation data. The auction ...
By Denis Matthew The Nigerian capital market has reached a historic peak, with the total market capitalization of listed equities soaring to approximately N97.9 trillion. The Accountant General of the Federation (AGF), Shamsedeen Babatunde Ogunjimi, revealed these figures on Monday, attributing the growth to aggressive equity price appreciation and a robust return of investor confidence ...
Ojaja Pan Africa Limited has successfully redeemed its Series 1 and Series 2 Commercial Paper (CP) issuances, worth a combined N9.05 billion, signaling robust liquidity despite a challenging high-interest-rate environment. The redemption included N2.14 billion for the Series 1 tranche, which matured in November 2025, and N6.90 billion for the Series 2 tranche, settled on ...
In a notable shift in monetary strategy, the Central Bank of Nigeria (CBN) has acted to slow the rapid appreciation of the naira last week by mopping up approximately $189.80 million from the local foreign exchange market. The intervention marks a rare move by the apex bank to purchase dollars rather than sell them, a ...
The Nigerian Exchange Ltd. (NGX) witnessed a bullish week as the All-Share Index and market capitalization surged by 6.95 percent, closing at 194,989.77 points and N125.164 trillion, respectively. This performance marks a significant climb from the previous week’s close of 182,313.08 points and N117.027 trillion, resulting in a substantial N8.137 trillion gain for investors. While ...
Aliko Dangote, the President of the Dangote Group, has officially assured Nigerians that the Dangote Petroleum Refinery and Petrochemicals will be listed on the Nigerian Exchange Limited (NGX) before the conclusion of 2026. This announcement marks a significant milestone for the $20 billion facility, which is widely regarded as a cornerstone for Nigeria’s industrial self-sufficiency ...
The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has called for a radical overhaul of global digital cross-border payment systems to dismantle the barriers stifling growth in developing economies. Speaking at the 2026 G-24 Technical Group Meetings (TGM) in Abuja, the Governor emphasized that modernizing these financial conduits is no longer ...
Financial experts and global market observers are commending Central Bank of Nigeria (CBN) Governor Olayemi Cardoso for a strategic masterstroke in foreign exchange management. The decision to reopen official USD supply to licensed Bureau De Change (BDC) operators has not only improved retail liquidity but is being hailed as a decisive victory for transparency and ...
In a high-level engagement in Cairo on February 15, 2026, the Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, met with his Egyptian counterpart, Dr. Hassan Abdalla, and representatives from the International Finance Corporation (IFC). The meeting focused on advancing the 30by30 programme, a green finance initiative aimed at integrating sustainability into ...
VFD Group PLC has returned to the Nigerian debt market with the launch of its N15 billion Series 1 Commercial Paper (CP). This issuance, comprising Tranche A and Tranche B, is part of the company’s broader N50 billion Commercial Paper Issuance Programme. The offer officially opened on Monday, February 16, 2026, and is set to ...
Lok Mishra, the CEO of UBA UK has detailed the strategic role United Bank for Africa (UBA) plays as a conduit for international investment into the continent. Appearimg recently on Arise TV, Lok Mishra said UBA UK operating as Africa’s Global Bank functions as a vital link between the continent’s rapidly expanding markets and the ...
Femi Otedola, billionaire investor and Chairman of First HoldCo, has projected a major recovery for the Nigerian currency, suggesting the naira could strengthen to below N1,000 per dollar by the end of 2026. This optimistic outlook hinges on the Dangote Petroleum Refinery reaching its full production capacity of 650,000 barrels per day. Otedola stated on ...
Bitcoin (BTC) has entered a period of intense volatility, dropping more than 40% from its October high of approximately $127,000. This downturn has contributed to a broader crypto market contraction, with nearly $2 trillion in total market value erased since the peak, according to data from CoinGecko. Despite the recent slump, Bitcoin saw a modest ...
Tony Elumelu, Chairman of Heirs Holdings and Founder of the Tony Elumelu Foundation, has called on global leaders and African governments to prioritize youth entrepreneurship as the primary engine for transforming rural economies. Speaking on Wednesday at the 49th Governing Council of the International Fund for Agricultural Development (IFAD) in Rome, Elumelu emphasized that agriculture ...
Falcon Corporation Limited, a prominent player in Nigeria’s indigenous gas sector, has secured an "A" long-term and "A1" short-term corporate credit rating from Agusto & Co. The premier Pan-African rating agency accompanied the scores with a stable outlook, citing the company’s formidable financial standing and its strategic role in Nigeria’s evolving energy landscape. According to ...
Nigeria’s fiscal outlook is set for a historic surge as the Nigeria Revenue Service (NRS) announced a projected revenue target of ₦40.7 trillion for the 2026 fiscal year. This ambitious figure, revealed during the 2026 NRS Leadership Retreat in Abuja, indicates that the Service expects to significantly outperform the Federal Government’s budgeted revenue estimate of ...
Access Holdings Plc has provided a strategic update regarding its proposed acquisition of South Africa’s Bidvest Bank, clarifying that while the initial timeline for the deal has lapsed, the group remains committed to the transaction. In an official communication to the market, the financial powerhouse revealed that the long-stop date, the deadline by which all conditions for the ...
The Nigeria Revenue Service (NRS) has given reasons why it was necessary to enact a new set of tax laws for the country. In a series of FAQ released on Monday, the NRS noted that the unveiling of the Nigeria Tax Act, No: 6 2025 by the Nigeria Revenue Service (NRS) marks a decisive end ...
The Nigerian naira continued its resilient performance on Monday, February 9, 2026, marking a market-wide appreciation against the U.S. dollar. Data released by the Central Bank of Nigeria (CBN) confirmed that the local currency gained 0.88% at the official window, closing at ₦1,354.26/$ after trading as strongly as ₦1,352 during intraday sessions. This sustained gain ...
By Seun Ibiyemi The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has stated that ongoing monetary reforms and currency stabilisation are positioning Nigeria as a more attractive destination for foreign direct investment (FDI). Speaking at the National Economic Council (NEC) Conference in Abuja on Monday, Cardoso highlighted that restored stability in the ...
The Nigerian upper legislative house, the Nigerian Senate has vowed to translate numbers into outcomes as the public hearing on the 2026 Appropriation Bill commenced on Monday. The Deputy President of the Senate, Senator Barau Jibrin, representing Senate President Godswill Akpabio, officially declared open the public hearing organized by the Senate Committee on Appropriations. The session served ...
Oliver Alawuba, the Group Managing Director and CEO of United Bank for Africa (UBA) Plc, has identified security, infrastructure, and investment-ready projects as the essential pillars for the South-East region’s long-term economic transformation. Speaking at the South-East Vision 2050 Regional Stakeholder Forum held at the International Conference Centre in Enugu, Alawuba emphasized that the region’s ...
