Fitch downgraded Afreximbank’s credit rating to one notch above junk on Wednesday, with a negative outlook, citing high credit risks and weak risk-management policies. According to Reuters, the one-notch downgrade to BBB- comes as the African lender battles to protect its loans from restructuring in Ghana, Zambia […]
Category: Exclusives
Exclusives
Oando Profit-After-Tax up 267% to N220 billion in FY2024 Audited Results
Oando PLC, Africa’s leading integrated energy company listed on both the Nigerian Exchange Group (NGX) and Johannesburg Stock Exchange (JSE), posted robust Audited Full Year (FY) 2024 financial results with a 44% increase in revenue to N4.1trillion compared to N2.9 trillion in FY 2023. In the upstream, Oando’s production […]
Onyema Urges Collaboration For Stronger Aviation Security Framework
Chairman of Air Peace Airline, Dr. Allen Onyema, has called for enhanced collaboration across all stakeholders in Nigeria’s aviation sector to build a more robust and adaptive aviation security framework amid growing global threats. Speaking at a symposium organized by the Nigeria Civil Aviation Authority (NCAA) on the […]
Lafarge earns N248.350bn Revenue In Q1
Lafarge Africa Plc has recorded N242.67bn from sales of cement following rising cost of cement in the country driven by inflation. This accounted for 97.7 per cent of the total sales revenue of N248.35bn for the first quarter of the 2025 financial year. The sales […]
UBA Reports Net Trading, FX Income of N37.04bn in Q1
United Bank for Africa (UBA) Plc reported a net trading and foreign exchange income of N37.04bn for the first quarter ended March 31, 2025—representing a 236.3 per cent increase from N11.90bn posted in the corresponding period of 2024. The growth was largely driven by higher yields from fixed-income […]
Tariff Pressures To Push Global Public Debt Past Pandemic Levels-IMF ….. Sees Global Public Debt At Nearly 100% Of GDP by 2030
Economic pressures from steep new U.S. tariffs will push global public debt above pandemic-era levels to nearly 100 per cent of global GDP by the end of the decade as slower growth and trade strain government budgets, the International Monetary Fund said on Wednesday. The IMF’s […]
CBEX Not Registered By Us, Say SEC … Reminds Public To Always Verify Registration Status
The Securities and Exchange Commission has stated that Crypto Bridge Exchange also known as CBEX was not granted registration by the Commission at any time to operate as a Digital Assets Exchange. In a Circular dated April 17, 2025, the Commission stated that its attention has been […]
Access Holdings Records 88% Growth in Gross Earnings To N4.878trn
Access Holdings Plc has announced its audited financial results for the full year ended December 31, 2024. The Group delivered 88 per cent year-on-year growth in gross earnings, rising from N2.594trn in 2023 to N4.878trn in 2024. According to the group’s financial results seen by THE […]
SEC, SMEDAN Partners On Enlightenment Campaigns For SMEs Financing
The Securities and Exchange Commission is to collaborate with the Small and Medium Enterprises Development Agency of Nigeria to implement joint nationwide sensitization campaigns on financing SMEs through the Capital Market. Director General of the SEC, Dr. Emomotimi Agama who stated this during a meeting with SMEDAN in Abuja, […]
SEC: ISA 2025 Bans Unregistered Digital Asset Exchanges, Online Forex Platforms
The newly enacted Investments and Securities Act, 2025 (ISA 2025) has made it illegal to operate digital asset exchanges or online foreign exchange trading platforms without formal registration with the Securities and Exchange Commission (SEC). Signed into law by President Bola Ahmed Tinubu, ISA 2025 significantly strengthens the regulatory framework […]