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...says Kogi becoming more attractive to investors By Seun Ibiyemi Kogi State Governor, Alhaji Ahmed Usman Ododo, on Thursday commissioned the Lokoja branch of Premium Trust Bank, marking the bank’s formal entry into the state’s financial landscape and reaffirming his administration’s commitment to creating a thriving business environment. Speaking at the event, Governor Ododo commended ...
The Aliko Dangote Foundation (ADF), in partnership with Sight and Life Foundation (SAL), has launched a nationwide initiative titled “Promotion of Production & Consumption of Fermented Foods for Food & Nutrition Security in Nigeria.” The program, unveiled at a workshop in Lagos, aims to combat malnutrition and improve food security by promoting the production and consumption ...
By Seun Ibiyemi HabariPay Limited, the fintech subsidiary of Guaranty Trust Holding Company (GTCO), has reported a profit before tax (PBT) of ₦4.02 billion for the first half of 2025, representing a 95 per cent surge from the ₦2.07 billion recorded in the corresponding period of 2024. The figure, disclosed in GTCO’s half-year financial statement ...
By Sofiyyah Layole Nestle Nigeria Plc has reported a strong financial performance for the first nine months of 2025, marking a solid return to profitability despite economic challenges. The company posted a 33 percent increase in revenue to N884.54 billion for the period ended September 30, 2025, up from N665.29 billion recorded in the same ...
By Seun ibiyemi Transnational Corporation Plc (Transcorp Group), one of Africa’s leading listed conglomerates, has reported a strong performance for the third quarter of 2025, driven by growth across its power and hospitality businesses. According to the company’s unaudited financial results released on Monday, revenue rose by 39 per cent year-on-year to ₦413.4 billion, compared ...
Leading rating agency, Agusto & Co. Limited, has upgraded the credit ratings of Jaiz Bank Plc to A- for long-term obligations and A1 for short-term obligations, both with a stable outlook, citing the bank’s strong financial performance and robust governance structure. In addition, the agency assigned Jaiz Bank an Environmental, Social, and Governance (ESG) score ...
By Seun Ibiyemi Automated Teller Machine (ATM) transactions in Nigeria rose sharply in the first quarter of 2025, defying expectations that new cash withdrawal charges introduced by the Central Bank of Nigeria (CBN) in February would slow usage. According to the CBN’s Quarterly Statistical Bulletin for Q1 2025, total ATM withdrawals climbed to N15.97 trillion ...
Abbey Mortgage Bank Plc has announced strong financial results for the third quarter ended September 30, 2025, reporting a pre-tax profit of ₦670 million, a 63.24 per cent year-on-year (YoY) growth, surpassing its Q3 2025 forecast by more than 58 person cent. According to the unaudited financial results released by the bank, the third-quarter performance ...
By Seun Ibiyemi The House of Representatives has taken fresh steps to boost transparency and public trust in Nigeria’s financial system as part of efforts to drive economic stability and business growth. To achieve this, the House Committee on Banking Regulations on Thursday held a public hearing on two key bills designed to reform the ...
By Seun Ibiyemi The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, will lead Nigeria’s delegation to the World Bank and International Monetary Fund (IMF) Annual Meetings scheduled to begin on Monday, October 13, 2025, in Washington, D.C. This was stated in a statement signed by the Special Adviser to the President ...
By Olakunle Oke Moniepoint, a leading player in Africa’s digital financial ecosystem, has successfully closed an additional $90 million as part of its Series C funding round. This fresh capital brings the total raised in the Series C to $200 million, following its initial $110 million secured in 2024. The funding round was led by ...
By Olakunle Oke Nigerian fintech companies are advocating for the establishment of a National Fintech Committee to streamline regulation, foster innovation, and accelerate financial inclusion across the country. This call is detailed in a new report released by the Central Bank of Nigeria (CBN) titled “Shaping the Future of Fintech in Nigeria: Innovation, Inclusion and ...
By Seun Ibiyemi Seplat Energy Plc, a prominent integrated Nigerian oil and gas firm, reported a spectacular top-line surge in its half-year 2025 (H1 2025) results, driven by significantly higher crude oil output, improved realized prices, and increased gas sales volumes. Despite this remarkable 276.79 per cent rise in revenue to ₦2.17 trillion from ₦575.05 ...
Okomu Oil Palm Company Plc has announced its robust financial results for the third quarter of 2025, with pretax profit surging by 49% to \mathbf{N17.04} billion, up from N11.4 billion in the corresponding period of 2024. This strong performance pushed the nine-month pretax profit to N84.09 billion, marking a substantial 106.73% increase from the N40.6 ...
By Sofiyyah Layole Trading activities on the Nigerian Exchange Limited (NGX) closed on a bullish note last week, as the All-Share Index (ASI) and market capitalization appreciated by 1.35 percent to close at 148,977.64 points and ₦94.561 trillion, respectively. A total turnover of 2.422 billion shares worth ₦76.618 billion in 126,591 deals was traded by ...
The Naira on Friday weakened further against the U.S. Dollar, closing at N1,475.35 at the official foreign exchange window, according to figures published by the Central Bank of Nigeria (CBN). This marks a N4.32 decline from Thursday’s closing rate of N1,471.02, representing a 0.29 per cent loss, and extends the local currency’s run of mild ...
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has announced that the apex bank is moving to strengthen its oversight of the fintech sector. Cardoso emphasized that while innovation continues to transform financial services, maintaining strong governance, consumer protection, and effective risk management must remain top priorities for the industry. Cardoso made ...
Wema Bank has completed its second tranche of N50billion capital raise through Special Placement that was subscribed by 100 percent. In addition to the earlier N150billion Rights Issue that was successfully completed in September 2025, the total qualifying capital for Wema Bank is now N264billion, above the N200billion threshold. This implies the bank further surpasses ...
By Sofiyyah Layole The Nigerian Exchange Group (NGX) maintained its bullish run midweek, reflecting sustained investment and renewed activity across key market segments. The performance indicators closed positive across the board, signaling cautious but continued investor optimism. The total market capitalization of the equity segment inched up to ₦93.78 trillion, a marginal 0.02 per cent ...
By Sofiyyah Layole Zenith Bank Plc has recorded an impressive 160 per cent subscription in its recently concluded recapitalisation exercise, marking a significant milestone in its growth and reaffirming investor confidence in the financial giant. This was announced at the closing gong ceremony hosted by the NGX group, yesterday. The successful recapitalisation, supported by the ...
By Seun Ibiyemi The House of Representatives has summoned the Central Bank of Nigeria (CBN) and major commercial banks to provide explanations for the escalating cases of arbitrary and unexplained deductions from customers’ accounts nationwide. The resolution followed the adoption of a motion of urgent national importance moved by Hon. Tolani Shagaya (APC, Kwara) during ...
By Sofiyyah Layole & Seun Ibiyemi A higher average power generation has fueled the revenue growth of Transcorp Power Plc for the third quarter (Q3) ended September 30, 2025. The leading power generation company, a subsidiary of TRANSCORP Group disclosed that its revenue rose by 38 percent year-on-year to ₦308.5 billion in Q3 2025, compared to ₦223.5 ...
By Sofiyyah Layole FCMB Group Plc has launched a massive capital raise, seeking to secure N160 billion through an offer for subscription of 16 billion ordinary shares at N0.50 per share. While the primary goal is to meet the Central Bank of Nigeria's (CBN) new minimum capital requirements, the Group has explicitly earmarked a significant ...
