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 […]
Category: Money Market
Money Market
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 […]
Ecobank Completes Mozambique Exit with FDH Bank Acquisition
Ecobank Transnational Incorporated (ETI) has announced the completion of the divestment of its Mozambique subsidiary, Ecobank Mozambique S.A., to FDH Bank Plc, marking the lender’s full exit from the southern African country. The transaction, which was first disclosed on August 5, 2025, received all necessary regulatory approvals before […]
Coronation Securities Limited Clinches Dual Recognition as Africa’s Premier Trading Platform …Brands Review Magazine and International Finance Awards honour Nigeria’s fastest-growing securities brokerage
Coronation Securities Limited has secured two prestigious industry accolades, cementing its position as Africa’s leading securities trading and brokerage platform. The firm received the Best Securities Trading and Brokerage – Africa 2025 award from Brands Review Magazine, whilst the International Finance Awards recognised it as the Fastest Growing Online Trading […]
CBN Licenses Finance Firm to Boost Non-Bank Financial Services
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 […]
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 […]