The Central Bank of Nigeria has renewed its warning against the abuse and mishandling of the naira, urging Nigerians to treat the national currency with respect as a symbol of sovereignty, while reaffirming its commitment to economic stability and ongoing monetary reforms. The apex bank said it remains focused […]
Category: Money Market
Money Market
DataPro Begins Training For Media Practitioners On Credit Rating
DataPro, Nigeria’s Technology-driven Credit Rating Agency (CRA) has announced March 26th 2026 as the date for its annual virtual training for media practitioners. According to the agency in a statement, the training program was conceived by the company in 2021 as part of its Corporate Social Responsibility (CSR) […]
FCMB Raises N242.8bn, Meets N500bn Capital Requirement for International Licence
FCMB Group Plc has announced the completion of a major capital raise programme that generated a total of N242.8bn, enabling its banking subsidiary, First City Monument Bank Limited, to meet the Central Bank of Nigeria’s revised minimum capital requirement for an international banking licence. The financial services […]
Customers cart away items in DavoDani Save and Win Promo
Lucky customers of DavoDani Microfinance Bank Limited, carted away various rich items at the company’s Save and Win Promo draw. The event which took place at Haddasah Hall, Ogudu, Ojota, Lagos was another way of saying thank you to the teeming loyal customers. John Ologe, the MD/CEO DavoDani Microfinance […]
S&P Says Capital Hikes, End Of Forbearance Will Squeeze Nigerian Banks In 2026 ……Flags Consolidation Risk For Smaller Nigerian Banks Under New Capital Rules
Nigerian banks will face increased pressure in 2026 from tighter regulation, higher capital requirements and easing interest rates, although the sector is expected to remain profitable, according to a new outlook by global ratings agency S&P Global. In its Nigerian Banking Outlook 2026, S&P said the end of regulatory forbearance, […]
FG Assures Investors Of Consultative Capital Gains Tax Policy As NGX Lists MREIF
The Federal Government has assured investors that the proposed Capital Gains Tax (CGT) policy will be implemented through continuous consultation with market stakeholders to achieve balanced outcomes that support fiscal objectives without undermining investor confidence. Minister of Finance and Coordinating Minister for the Economy, Mr. Wale Edun, gave […]
Ecobank, Proparco Sign €10m Trade Finance Guarantee to Boost African SMEs
The Ecobank Group and Proparco, the private sector arm of the French Development Agency (AFD Group), have signed a €10m trade finance guarantee facility to support small and medium-sized enterprises (SMEs) in Africa. The agreement, signed on the sidelines of the Africa Financial Industry Summit (AFIS) 2025, marks […]
Wema Bank Raises ₦50bn, Exceeds Capital Requirement
Wema Bank Plc has announced that it has received all requisite regulatory approvals for its ₦50bn Private Placement capital raise. This is in addition to the earlier ₦150bn Rights Issue that was completed in September 2025. The Bank now has a total of ₦264.87bn in qualifying capital, above the minimum […]
AfDB to Lend Nigeria $500m in Fresh Budget Support … Cites Tinubu’s Economic Reforms as Key Driver
The African Development Bank (AfDB) has announced plans to extend a $500m loan to Nigeria this year as part of a $1bn budget support programme, citing the country’s ongoing economic reforms under President Bola Tinubu as a major factor driving its decision. Executive Director representing Nigeria and São […]
Shareholders Approve Providus, Unity Business Combination
The shareholders and Boards of Directors of Providus Bank and Unity Bank at a court-ordered Extraordinary General Meeting (EGM) on Friday gave approval to proceed with the business combination of the two financial institutions. In a statement made available to the press, Providus Bank and Unity Bank expressed appreciation […]