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 […]
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Dangote Sugar Posts N430.21bn Revenue in 2025 Half Year
Dangote Sugar Refinery Plc has reported a revenue of N430.21 billion in the six months ended June 30, 2025, which in contrast to N295.62 billion earned in the same period in 2024 represents a 45.53 percent increase. According to financial reports posted on the portals of the Nigerian […]
LCCI Urges Economic Action as Nigeria’s Q1 GDP Grows 3.13% …Calls for Strategic Reforms Amid Rising Inflation, Weak Naira
The Lagos Chamber of Commerce and Industry (LCCI) has urged the Nigerian government to shift focus from statistical optimism to real economic reform, following the release of rebased GDP data and the 3.13% real growth recorded in the first quarter of 2025. While acknowledging that the rebasing exercise—updating […]
SEC Committed to Promoting Innovation, Safeguarding Investments – Agama
The Director General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has reaffirmed the Commission’s commitment to fostering innovation in the capital market while ensuring the security of investors’ funds. Speaking during his keynote address at the Comercio Partners H2 2025 Outlook event, Dr. Agama said the SEC […]
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 […]
NIMASA Shuts ShellPlux, TMDK Terminals Over ISPS Code Violations
The Nigerian Maritime Administration and Safety Agency (NIMASA) has sealed off two petroleum storage terminals—ShellPlux and TMDK—located in the Ijegun-Egba area of Lagos, citing persistent violations of the International Ship and Port Facility Security (ISPS) Code. According to a notice issued on Thursday by the agency’s Head of […]
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 […]
TikTok Deletes 3.6 Million Nigerian Videos in Q1
Short video platform TikTok said it removed more than 3.6 million videos uploaded by Nigerian users in the first quarter of 2025 for violating its community guidelines, marking a 50 per cent surge from the 2.4 million videos taken down in the previous quarter. The figure was disclosed in […]
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, […]