Category: Money Market

Money Market

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. […]

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 […]

Wema Bank Releases unaudited results for H1 2025, Profit Before Tax climbs 231% to N101.2billion

  Wema Bank Plc, Nigeria’s oldest indigenous bank, most resilient and pioneer of Africa’s first fully digital bank, ALAT, has released its unaudited consolidated financial statements for the half-year period ended June 30, 2025, to the Nigerian Exchange Group (NGX).   On track to set an unprecedented benchmark, Wema Bank’s […]

Moody’s Upgrades Ecobank Ratings Outlook to Stable

  Moody’s has affirmed Ecobank Transnational Incorporated’s (ETI) B3/Not Prime long- and short-term issuer ratings; B3 senior unsecured debt rating; b2 notional Baseline Credit Assessment (BCA); and b1 Adjusted BCA. At the same time, rating analysts at Moody’s said they have changed the outlook on the group’s long-term issuer and senior […]

Only 3% Informal Sector Taxable Under New Tax Law, Says Oyedele …Exempts Earners Below N800,000 Annually

The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee (FPTRC), Mr. Taiwo Oyedele, has revealed that under Nigeria’s new tax reforms, only the top 3 per cent of informal sector operators are financially capable of paying taxes, while the remaining 97 per cent have been legally exempted from […]