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Geregu Power fails to redeem N40.09bn bond payments
Geregu Power Plc has defaulted on the eighth coupon or interest payment and fourth bullet principal repayment of its N40.09 billion series one senior unsecured bond. This is contained in an updated listing status published by FMDQ Securities Exchange, seen on Sunday. The bond, which was issued on July 28, 2022, has a seven-year tenor and is scheduled to mature…
Read More » - Economy
Nigeria’s public debt hits N159.3trn in Q1 2026, says DMO
The Debt Management Office (DMO) revealed that Nigeria’s total public debt rose to N159.35 trillion as of March 31, 2026. The record, according to the DMO’s latest public debt portfolio report, represents a 6.7 percent or N9.96 trillion increase from N149.39 trillion recorded at the end of the first quarter (Q1) of 2025. However, the figure was almost unchanged when…
Read More » - Perspectives
Open letter to the President: Aftermath of conference of Bishops’ presentation imbroglio at Villa
His Excellency, Asiwaju Bola Ahmed Tinubu, GCFR President, C-in-C, Armed Forces, Federal Republic of Nigeria, Presidential Villa, FCT, Abuja. Your Excellency, Open letter to the president Aftermath of conference of bishops’ presentation imbroglio at villa—– Sir, On the surface, the cloud of confusion that enveloped the nation in the past one week following the presentation of that controversial document by…
Read More » - Business
Otedola raises stake in First Holdco, acquires additional N18.11bn shares
Femi Otedola has increased his stake in First HoldCo Plc following the acquisition of 138.04 million ordinary shares valued at about N18.11 billion. According to a regulatory filing, the shares were purchased by Calvados Global Services Limited, a company linked to Otedola as a significant shareholder, at N131.20 per share on the Nigerian Exchange.Africans & Diaspora The transaction, completed on…
Read More » - Business
Asset integrity, life extension, key to sustaining value for independents, says Seplat CEO
For independent oil and gas players in Nigeria to optimize the value of their assets, boost returns on investments and ensure resilient systems, they must get asset integrity right, fix obsolescence in their operations and consciously work on life extension of their assets, the CEO Seplat Energy, Engr. Effiong Okon has said. Engr. Okon said this during the Panel Session …
Read More » - Economy
BREAKING: At N140 per share, First Holdco hits all-time high
The stock price of First Holdco Plc on Thursday hit N140 per share on the Nigerian Exchange Limited (NGX), making it an all-time high since it was listed in 2012. In its Year till Date (YtD) performance, the stock price of First Holdco has appreciated by 192.3 per cent from N47.90 per share it closed for trading in 2025,…
Read More » - Business
Pathway Advisors opens N25bn series 3 CP issuance for Zeenab Foods
In a fresh boost for Nigeria’s corporate debt capital market, Pathway Advisors Limited has officially announced the launch of Zeenab Foods Limited’ s Series 3 Commercial Paper (CP) issuance of up to N25 billion. The offer, now open to subscription, is issued under the company’s broader N50 billion Commercial Paper Programme. According to transaction details made available, the subscription window…
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Nestlé Nigeria opens applications for community scholarship programme
Nestlé Nigeria Plc has opened applications for its 2026/2027 Community Scholarship Programme, continuing its commitment to supporting young people in its host communities and helping students achieve their academic goals. Since its launch in 2020, the programme has supported more than 250 students, helping to reduce the financial challenges associated with education and creating opportunities for young Nigerians to succeed.…
Read More » - Business
SEC moves to curb unclaimed Funds, strengthen investor protection
The Securities and Exchange Commission (SEC) has intensified efforts to reduce unclaimed funds and other dormant investment assets by launching a Probate/Unclaimed Monies Awareness and Investor Clinic aimed at helping beneficiaries recover inherited investments and strengthening investor protection in Nigeria’s capital market. Speaking at the opening of the clinic in Abuja organised by the Commission in partnership with Meristem on…
Read More » - Uncategorized
Heirs Insurance Group poised for leadership in post-recapitalisation insurance era
Heirs Insurance Group, Nigeria’s fastest-growing insurance group, has met the National Insurance Commission’s (NAICOM) recapitalisation requirements, with both Heirs General Insurance and Heirs Life Assurance included on the Commission’s list of insurance companies that have satisfied the revised minimum capital requirements. This development follows the conclusion of National Insurance Commission’s (NAICOM) landmark recapitalisation programme, which will reshape Nigeria’s insurance landscape…
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