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 […]
Category: Money Market
Money Market
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 […]
Otudeko Exits First Holdco With Sale of 25% Stake Worth ₦323bn
Shares of FBN Holdings Plc (First Holdco) have soared by more than 20 per cent in just two trading sessions, following heightened investor interest triggered by a landmark ₦323.33bn off-market transaction that reshaped the company’s ownership structure. The stock, which closed at ₦29.30 on Monday, July 14, rallied to […]
Access Holdings Reaffirms Strategic Growth Plan from Expansion to Optimisation
Access Holdings PLC, the parent company of Access Bank, has reaffirmed its long-term strategic blueprint anchored on a deliberate and structured progression: scale, optimise, and sustain. This roadmap, which has driven the Group’s aggressive expansion across Africa and into key global markets, is now entering a crucial […]
Citi Q2 Earnings Top Estimates Amid Dealmaking Resurgence
Citigroup Inc. reported a sharp 25 per cent year-on-year increase in second-quarter earnings, beating analysts’ expectations as its trading desks capitalized on volatile markets and its investment banking unit benefited from a resurgence in dealmaking. The third-largest U.S. lender posted a net income of $4bn, or $1.96 per share, […]
Ecobank to Raise $250m in Tier 1 Capital via Private Placement
Ecobank Transnational Incorporated (ETI) has launched a private placement offering to raise up to US$250m in Additional Tier 1 (AT1) capital through contingent convertible notes. The transaction follows shareholder approval secured during an Extraordinary General Meeting (EGM) held on May 28, 2025, in Lomé, Togo. The offering window […]
UBA Mulls New Office In Saudi Arabia To Advance Global Expansion
United Bank for Africa (UBA) has reaffirmed its commitment to strategic global expansion with the announcement of a new office to be opened in Saudi Arabia, marking a significant milestone in its mission to connect Africa with key global markets. The development was confirmed during the Group’s […]