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 […]
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Petrol May Hit N2,000/Litre, Diesel N3,000 if Middle East War Persists – PETROAN
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has warned that the price of petrol in Nigeria could rise to as high as N2,000 per litre, while diesel may approach N3,000 per litre, if the ongoing conflict in the Middle East continues to disrupt global oil […]
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 […]
FG Plans To Recapitalise BOI To N3trn By 2026 ………To Boost Industrial Growth With N800bn Funding, PPP Expansion, Credit Guarantees
The Federal Government has unveiled plans to recapitalise the Bank of Industry (BOI) to N3trn by 2026 as part of a broader strategy to stimulate industrial growth, deepen access to long-term financing, and strengthen Nigeria’s productive base. The recapitalisation forms a key pillar of the National Industrial […]
NGX Records First Commercial Paper Listing with Dangote Cement’s ₦119.87bn Issuance
Nigerian Exchange Limited (NGX) has recorded its first Commercial Paper (CP) listing with the admission of Dangote Cement Plc’s Series 1 and Series 2 Commercial Papers under its ₦500 billion Commercial Paper Issuance Programme. The two series, with a combined value of ₦119.87 billion, were admitted to […]
African Union Grants Nigeria Permanent Seat On African Central Bank Board
Nigeria has secured a permanent seat on the Board of the African Central Bank (ACB) following a decision by the Executive Council of the African Union (AU) at its 39th session, marking a significant milestone in the country’s continental diplomatic and economic engagements. The Minister of Foreign Affairs, […]
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, […]
BUA Foods achieves 91% PAT growth in unaudited FY2025 results
BUA Foods PLC, a leading food manufacturing conglomerate in the West African subregion, has released its unaudited financial results for the year ended 31 December 2025. The results showed strong performances in key financial metrics, in line with market expectations. The Group’s combined revenue for the period was N1.80 […]
Dangote, Three Others Richer Than Half of Africa-Oxfam ….Warns Weak Taxation Fuels Africa’s Wealth Gap ……Raises Alarm Over Nigeria’s Tax System as Billionaire Wealth Climbs
Africa’s wealth inequality has widened sharply, with Aliko Dangote and three other African billionaires now holding more wealth than half of the continent’s population combined, according to a new report by global anti-poverty organisation Oxfam. The report, released as political leaders and top business executives convene for […]
Nestlé Nigeria Launches N80m Golden Morn Nationwide Promo
Nestlé Nigeria Plc has launched an N80m nationwide consumer promotion for its Golden Morn cereal brand, offering cash prizes and household items to reward loyal consumers across the country. According to a statement from the company, the promotion, which runs from January 10 to April 15, 2026, […]