The Central Bank of Nigeria (CBN) has granted an operating licence to Apices Finance Company Limited to function as a finance company under the Bank and Other Financial Institutions Act (BOFIA) 2020, marking a significant step toward strengthening the non-bank financial services sector. The approval, which was conveyed […]
Category: Money Market
Money Market
FIRS, CBN, NEXIM, UBA, NDIC Back FICAN 2025 Conference on Digital Economy
The 2025 Conference of the Finance Correspondents Association of Nigeria (FICAN) has received strong backing from key financial institutions and regulators, underscoring its significance as a platform for shaping discourse on Nigeria’s digital economy. Among the supporters of the annual event are the Federal Inland Revenue Service (FIRS), the […]
ISSB-Aligned Disclosures Will Lower Capital Costs, Attract Global Investors — SEC
The Securities and Exchange Commission (SEC) has unveiled plans to drive the adoption of International Sustainability Standards Board (ISSB) disclosure frameworks in Nigeria, asserting that alignment with the global standards will strengthen market transparency, reduce information risk, and attract international capital flows into the country’s capital markets. Speaking […]
Wema Bank Concludes ₦150bn Rights Issue, Meets Regulatory Requirements For Commercial Bank
Wema Bank Plc has announced the completion of its ₦150bn Rights Issue, which opened on April 14th,2025, and closed on May 21st,2025. The exercise has received formal approval from the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission. According to the bank, the Rights […]
Afreximbank Delivers HY’2025 Results With Net interest income at $835.9m
African Export-Import Bank Group (Afreximbank/Group) has released its consolidated financial statements for the six months ended 30 June 2025 (H1’2025). Amid heightened geopolitical tensions, persistent inflationary pressures, currency volatility, and tighter global financing conditions, the Afreximbank Group delivered, once again, satisfactory results for the first half of the […]
DMO Warns States Against Over-Borrowing, Advocates PPPs ……Says Nigeria Risks Debt Crisis Without PPPs, Improved Revenues
The Director-General of Nigeria’s Debt Management Office (DMO), Ms. Patience Oniha, has cautioned state governments against excessive borrowing, urging them instead to adopt Public-Private Partnerships (PPPs) and prioritise tax revenue mobilisation to fund infrastructure projects. She warned that without such measures, Nigeria risks sliding into another debt crisis. […]
SEC Warns Nigerians Against GVEST Global Over Suspected Ponzi Operations
The Securities and Exchange Commission (SEC) has cautioned Nigerians to steer clear of GVEST Global and its associated entities, describing the company’s activities as illegal and bearing the hallmarks of a Ponzi scheme. In a public notice published on its website, the capital market regulator revealed that […]
APT Securities Projects NGX Market Cap Above ₦100tr by Year-End … Blue-Chip, Insurance Stocks Tipped for Strong 2025 Performance
Managing Director and Chief Executive Officer of APT Securities and Funds Limited, Kasimu Garba Kurfi, has projected that the Nigerian Exchange (NGX) market capitalisation will surpass ₦100 trillion by the end of 2025, buoyed by foreign exchange stability, strong corporate fundamentals, and increased primary market activities. Speaking at […]
Alternative Bank, AMWMF Partner to Empower Entrepreneurs Nationwide
The Alternative Bank, one of Nigeria’s non-interest financial institutions, has entered into a partnership with the Association of Market Women/Men and Farmers of Nigeria (AMWMF) to boost economic empowerment and expand financial inclusion for millions of grassroots entrepreneurs across the country. The initiative, launched in collaboration with Sterling Financial […]
UBA, Afrexim Bank Partner to Digitise African Trade Via LEO, PAPSS
United Bank for Africa (UBA) has integrated its Artificial Intelligence (AI) chatbot, LEO, with the Pan-African Payment and Settlement System (PAPSS) in a bid towards enhancing intra-African trade. The initiative launched in partnership with the African Export-Import Bank (Afrexim Bank), enables seamless end-to-end transactions across African borders in […]