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The former Governor of the Central Bank of Nigeria (CBN) and Emir of Kano, HRH Sanusi Muhammad Sanusi II, has thrown his support behind the CBN's monetary policies, asserting that the nation has been pulled back from the brink of total economic collapse. Speaking at the ongoing Nigerian Economic Summit Group (NESG) conference, the Emir ...
President Bola Ahmed Tinubu has disclosed that a N200 billion fund specifically targeted at supporting Micro, Small, and Medium Enterprises (MSMEs) and local manufacturers will propel Nigeria's trillion-dollar economy ambition. Speaking at the 31st Nigerian Economic Summit (NES) in Abuja, Tinubu represented by Vice President Kashim Shettima, underscored the government's firm commitment to bold reforms aimed at unlocking ...
First City Monument Bank (FCMB) is marking Customer Service Week 2025 with a commitment to transforming everyday challenges into opportunities through personalized service and innovation. The global celebration, themed "Mission: Possible," runs from October 6 to 10. According to the Bank, the theme highlights its core belief that any goal is achievable with the right ...
By Seun Ibiyemi Operators of Point-of-Sale (PoS) machines risk getting a minimum fine of ₦20 million if they alter the ownership structure of their machines without securing prior approval from the apex bank. This was disclosed in the revised Guidelines for the Operations of Agent Banking in Nigeria, issued on October 6, 2025 by the Central Bank of Nigeria ...
By Denis Matthew, Abuja President Bola Tinubu has announced a significant surge in the Federal Government’s revenue collection, which climbed to ₦27.8 trillion as of August 2025. This achievement surpasses the annual revenue target of ₦18.32 trillion. The disclosure was made by Vice President Kassim Shettima, who represented the President at the 31st Nigerian Economic ...
Polaris Bank, in partnership with the Nigeria Conservation Foundation (NCF), has expanded its nationwide tree-planting campaign to three new locations: the Lekki Conservation Centre in Lagos State, the Federal University of Agriculture, Abeokuta (FUNAAB) in Ogun State, and Sardauna Memorial College in Kaduna State. The initiative, announced in a statement over the weekend, reflects the ...
...calls for policy to curb industrial actions in energy, transport, other sectors By Seun Ibiyemi The Centre for the Promotion of Private Enterprise (CPPE) has called on the Federal Government to urgently create legal frameworks to protect investors and employers. This comes on the heel of the recent face-off between Dangote Refinery and PENGASSAN. In its latest policy ...
The Securities and Exchange Commission (SEC) has imposed a fine of N50.145 million on Stanbic IBTC Capital Limited for breaching regulatory requirements related to the Guaranty Trust Holding Company Plc (GTCO Plc) public offer of shares. Stanbic IBTC’s half-year 2025 financial results confirmed the fine was issued due to the firm’s failure to obtain SEC’s ...
By Seun IbiyemiInvestors in the Nigerian equities market gained a total of N1.1 trillion in the trading week that just ended, driven by a bullish sentiment that prevailed through all four trading sessions leading up to the Independence Day holiday. Data from the Nigerian Exchange Limited (NGX) showed that the market capitalisation increased to N91.1 ...
The Presidential Committee on Fiscal Policy and Tax Reforms says the new Capital Gains Tax (CGT) regime on shares is designed to reduce business risks, strengthen investor confidence, and create a fairer tax system. The Chairman of the committee, Mr Taiwo Oyedele, disclosed this during a virtual market engagement with the Nigerian Exchange Group (NGX) ...
Insolvency experts have called on banks and practitioners to align loan agreements and practices with the rescue provisions of the Companies and Allied Matters Act (CAMA) 2020. Mr Albert Folorunsho, the Vice President, Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN), made the call at BRIPAN annual conference gala night on Friday in Lagos. ...
By Seun Ibiyemi The Independent Media and Policy Initiative (IMPI) has applauded the Central Bank of Nigeria’s (CBN) decision to reduce the Monetary Policy Rate (MPR) to 27 per cent, describing it as a bold step towards stimulating economic growth. On Wednesday, Dr. Omoniyi Akinsiju, the Chairman of IMPI, announced in a statement that the ...
By Seun Ibiyemi President Bola Ahmed Tinubu and Kola Adesina, Group Managing Director of Sahara Power Group are set to headline the Chartered Institute of Directors (CIoD) Nigeria's 2025 Annual Directors' Conference. The prestigious event, which is the largest gathering of directors and boardroom executives in Africa, will bring together industry leaders, entrepreneurs, and corporate ...
By Seun Ibiyemi In a move to improve accessibility, First Bank of Nigeria Limited has announced the rollout of specialized banking services for customers with visual and physical disabilities. The initiative, according to the bank, underscores its commitment to financial inclusion and diversity, reinforcing its position as a leading service provider in West Africa. Patrick ...
Shares of Guinness Nigeria Plc jumped more than 41 per cent in September, closing at N183.9 on September 23, 2025, their highest level in over a year on the Nigerian Exchange (NGX). The stock, which opened the month at N130, is on track for its strongest monthly performance to date if the rally continues. Year-to-date, ...
By Seun Ibiyemi Guaranty Trust Holding Company Plc (GTCO) has released its audited results for the half year ended June 30, 2025, crossing the ₦1 trillion gross earnings milestone while sustaining its interim dividend payout of ₦1.00 per share, despite a sharp profit decline. The group posted a pre-tax profit of ₦601 billion, compared with ...
By Seun Ibiyemi All On, an impact investment company dedicated to expanding energy access in Nigeria, has reaffirmed its support for clean energy innovation with a follow-on investment in Koolboks’ $11 million Series A funding round. The round was led by KawiSafi Ventures, with All On and Aruwa Capital co-leading. The fresh capital will help ...
By Seun Ibiyemi First Bank of Nigeria Limited has thrown its weight behind history in the making as it partners with the organisers of the maiden E1 Lagos GP, an all-electric powerboat racing championship set to hold in Lagos from October 3 to 5, 2025. The announcement was made during the E1 Lagos GP Stakeholder Immersion Session in Lagos, ...
By Seun Ibiyemi First Bank of Nigeria Limited has announced its partnership with the organizers of the maiden edition of the E1 Lagos GP, an all-electric powerboat racing championship scheduled to hold in Lagos from October 3 to 5, 2025. The announcement was made during the E1 Lagos GP Stakeholder Immersion session in Lagos, where ...
By Seun Ibiyemi MTN Nigeria Communications Plc is set to enter into a lease agreement with T2 Mobile Limited, formerly 9Mobile for a spectrum. The leading telecommunications company made this known in a corporate disclosure to the Nigerian Exchange Limited (NGX) following approval granted by the Nigerian Communications Commission (NCC). According to the notice, effective October 1, ...
By Seun Ibiyemi The Nigerian Exchange (NGX) closed positive on Wednesday, with investors recording a N310 billion gain following renewed bargain hunting in select stocks. The market capitalisation rose from N89.555 trillion to N89.865 trillion, while the All-Share Index appreciated by 489.45 points or 0.35 per cent to settle at 142,036.23 from 141,546.78 recorded at ...
By Seun Ibiyemi Fidelity Bank Plc, has commenced the disbursement of the Federal Government of Nigeria’s (FGN) MSME Intervention Funds, administered by the Bank of Industry (BOI), to qualified SMES with a strategic focus on empowering women-owned businesses across the country. The FGN MSME Intervention Fund is designed to provide accessible financing to micro, small, ...
By Seun Ibiyemi United Bank for Africa (UBA) Plc is set to make history at the 80th United Nations General Assembly (UNGA) by unveiling a landmark whitepaper designed to chart a new course for Africa’s economic transformation. The high-level event, scheduled between September 15 and September 25, 2025, in New York, will bring together world ...
