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By Seun Ibiyemi Investors in the Nigerian equities market lost N34 billion on Wednesday following declines in key stocks, including Chams Plc, Haldane MCall, and UAC Nigeria. The All-Share Index (ASI) dropped to 146,862 points from 146,940.29 recorded the previous day, while market capitalisation fell slightly to N93.6 trillion from N93.64 trillion. Market activity showed ...
Nigeria’s subnational debt landscape witnessed notable movements in the first half of 2025, as 26 states recorded fresh external borrowings totaling $239 million, according to the latest figures released by the Debt Management Office (DMO). The DMO reported that Nigeria’s total external debt now stands at $46.98 billion. While new borrowings were recorded, aggressive repayments ...
By Seun Ibiyemi The Central Bank of Nigeria (CBN) on Tuesday has inaugurated a revamped board for the Agricultural Credit Guarantee Scheme Fund (ACGSF). The ceremony took place in Abuja, with officials, board members, and industry stakeholders in attendance. Speaking at the event, Cardoso highlighted the persistent financing gap in Nigeria’s agricultural sector, noting that ...
The Central Bank of Nigeria (CBN) on Tuesday took the market by surprise, rejecting a total subscription of N1.3 trillion staked against its Open Market Operation (OMO) bills at the main auction. Despite offering N600 billion worth of bills across standard maturities to eligible market players including banks and foreign portfolio investors, the apex bank ...
TAJBank Limited has signed a Memorandum of Understanding (MoU) with the National Hajj Commission of Nigeria (NAHCON) on Hajj Savings Scheme (HSS). The Managing Director/CEO of TAJBank, Mr Hamid Joda made this known on Monday in Abuja, during the signing of the MoU. Joda said that it was in furtherance of its ethical banking drive ...
By Seun Ibiyemi Nigeria’s push to become a $1 trillion economy by 2030 is being hampered by declining foreign investment, even as the government implements sweeping macroeconomic reforms. According to a recent report by the Bashir Adeniyi Centre for International Trade and Investment (BACITI) of the Nigerian Institute of International Affairs (NIIA), reforms such as ...
By Seun Ibiyemi Investors on the Nigerian Exchange Limited (NGX) recorded a significant windfall last week, with the market gaining a total of N2.4 trillion to close the capitalisation at N93.7 trillion. The bullish momentum saw the market close positive in four out of five trading sessions, reflecting renewed investor appetite. The benchmark All-Share Index ...
By Seun Ibiyemi FCMB Group Plc has reported a robust financial performance for the nine months ended September 30, 2025, posting a 52 per cent increase in Profit After Tax (PAT) to N125.4 billion. The Group also highlighted significant progress in its recapitalisation efforts ahead of the Central Bank of Nigeria’s March 2026 deadline. The ...
The newly inaugurated Chairman of the National Tax Policy Implementation Committee (NTPIC), Mr. Joseph Tegbe, has declared that the success of Nigeria’s tax reforms hinges on rebuilding the trust of the citizenry. Tegbe made this known following his inauguration by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, on Saturday. ...
...as Gov't reiterates commitment to developing water transport Experts have called for diversification, innovation and equity in the economy of Lagos. The Roundtable, organised by the Economic Intelligence Department under the Ministry of Economic Planning and Budget, was held at the Protea Hotel, CBD in Ikeja, with the theme “Building Forward: Unlocking Emerging Sectors for an Inclusive, Resilient, and Prosperous ...
The Chartered Institute of Bankers of Nigeria (CIBN) has announced the commencement of an Annual Ethics and Professionalism Summit, which will hold every December 4. This is as the CIBN also reaffirmed its commitment to fostering professionalism, supporting sustainable finance and strengthening capacity building across the sector to ensure a stable, trusted and future-ready banking industry. Joining the ...
Guaranty Trust Holding Company Plc (GTCO) has issued an official update on the status of its share capital structure in line with the Financial Conduct Authority’s (FCA) Disclosure and Transparency Rule 5.6.1R, which mandates listed companies to provide timely and accurate information on their voting rights and share capital. In a statement signed by the ...
The Securities and Exchange Commission (SEC) has issued a strong warning to Nigerians against investing in an online platform known as Glorious Wealth Fund (GWF), describing its operations as illegal and potentially fraudulent. In a statement on Thursday, the Commission said GWF, which operates via the website gloriouswealthfund.com, is neither registered nor licensed to offer any ...
By Seun Ibiyemi United Bank for Africa (UBA) has unveiled a major strategic partnership with Lions Group, a leading entertainment and lifestyle company, to deliver exclusive benefits to customers and visitors during the highly anticipated ‘Welcome to the Detty Side’ festive campaign. The collaboration, designed to elevate December celebrations with premium entertainment experiences, will grant ...
Stories by Seun Ibiyemi The Securities and Exchange Commission (SEC) has granted approval for the listing of Commercial Papers (CP) on the Nigerian Exchange Limited (NGX) board. This approval signals a major milestone in Nigeria’s evolving capital market landscape. The new listing framework allows corporates and issuers to list and trade both conventional and non-interest commercial papers ...
DMO opens new savings bonds offer with up to 13.839% interest for investors of December, offering attractive interest rates to retail investors. According to a statement issued by the DMO, the first instrument is a two-year FGN Savings Bond due on December 10, 2027, with an annual interest rate of 12.838 per cent. The second ...
Africa’s Global Bank, United Bank for Africa (UBA) Plc, lit up the atmosphere of the Lagos Marina on Monday, with thousands of bright, colourful lights and serenading carols to ring in this year’s yuletide season. The beautifully organised ceremony had in attendance the bank’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, the Deputy Managing Directors, ...
Nigeria’s economy has maintained a trajectory of recovery, recording a 3.98 percent growth in real Gross Domestic Product (GDP) for the third quarter of 2025. While this figure represents a slight moderation from the 4.23 percent recorded in the second quarter, analysts at both Comercio Partners and the Centre for the Promotion of Private Enterprise ...
Investors in the Nigerian equities market recorded a loss of N197 billion at the close of trading on Monday, following a slump in the share prices of major stocks, including International Breweries, RT Briscoe, and Cornerstone. The downturn dragged the benchmark All-Share Index (ASI) down to 143,210.33 points, lower than the 143,520.53 points recorded on ...
Stories by Seun Ibiyemi The Central Bank of Nigeria (CBN) has reported significant progress in the ongoing banking sector recapitalization exercise, with 27 banks raising capital through public offers and rights issues. This was disclosed by the Governor, Mr. Olayemi Cardoso at the CIBN Annual Bankers’ Dinner recently in Lagos. According to Mr. Cardoso, 16 ...
First HoldCo Plc has announced the successful completion of its full divestment from FBNQuest Merchant Bank Limited, marking a major strategic shift within the group’s operations. The company disclosed that it has transferred 100 per cent ownership of the merchant banking subsidiary to EverQuest Acquisition LLP. In a notification issued to the Nigerian Exchange Limited ...
Ecobank Nigeria Limited has announced a tender offer for the remaining US$150 million of its US$300 million 7.125 per center Senior Note Participation Notes due in February 2026. The offer, which opened on Friday, 28 November 2025, allows eligible noteholders to tender their securities before the bond’s original maturity date of 16 February 2026. Investors ...
Stories by Seun Ibiyemi The Naira closed the week stronger in the official foreign exchange market, appreciating by N7.10. This rally was driven by a historic surge in foreign capital inflows, which totaled approximately $21 billion between January and October 2025 setting a new record for the country. The currency’s performance reflects renewed investor confidence, ...
