- Business
Nigerian equities market drops by N77bn
The Nigerian equities market commenced the new trading week on a subdued note, as investors’ investments declined by N77 billion. The All-Share Index (ASI) lost 118.66 basis points or 0.05 per cent to close at 247,238.74 basis points. Also, market capitalisation shed N77 billion to close at N159.511 trillion. The downturn was driven by price depreciation in large and medium…
Read More » - Economy
AMCON recovers N165bn debts in H1 2026, says CEO
The Asset Management Corporation of Nigeria (AMCON) revealed that it recovered approximately N165 billion between January and June 2026, representing a 64 per cent increase from the N107 billion recovered in the corresponding period of 2025. The Chief Executive Officer (CEO), AMCON, Gbenga Alade who spoke over the weekend during an interactive session with senior media executives in Lagos, stated…
Read More » - Business
H1 2026: FCMB Group declares 137.24% increase in net impairment losses to N85.9bn
FCMB Group Plc on Monday announced its united result and accounts for half year (H1) ended June 30, 2026 with 13724 per cent increase in net impairment losses on financial instruments at N85.9 billion over N36.22 billion reported half year ended June 30, 2025. The group in a statement said the front-loaded a decisive clean-up of stage 2 loans, including…
Read More » - Economy
Nigerian bank’s average maximum lending rate depreciates to 33.16% in June 2026, says CBN
As the Central Bank of Nigeria (CBN) retained its interest rate at 26.50 per cent, the Nigerian banking sector’s average maximum lending rate dropped to 33.16 per cent in June 2026 from 34.78 per cent in May 2026. On a Year on Year (YoY), the Money Market Indicators of the CBN revealed that average maximum lending rate was at 29.51per…
Read More » - Business
NGX Group declares interim dividend of N1.30 per share in H1 2026
Nigerian Exchange Group Plc (NGX Group) has announced an interim dividend of N1.30 per ordinary share for the six months ended June 30, 2026, following a record first-half financial performance. The dividend reflects the quality of the Group’s earnings, improved cash generation and the Board’s confidence in the sustainability of NGX Group’s growth trajectory. It also preserves capacity for continued…
Read More » - Business
AEDC rewards 1,126 employees with promotions
Abuja Electricity Distribution Plc (AEDC) has announced the promotion of 547 employees and the approval of 579 Step Increments following the successful conclusion of its 2025 Performance Appraisal Exercise, reaffirming the Company’s unwavering commitment to recognising excellence, rewarding performance and building one of Africa’s most admired workplaces. The milestone reflects AEDC’s deliberate investment in its people as the Company accelerates…
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Dangote refinery confirms successful completion of $2.5bn private placement
The Dangote Petroleum Refinery has confirmed the successful completion of a $2.5 billion private placement, marking one of the largest corporate fundraising transactions by an African company. The company announced the development on Thursday, describing the transaction as a significant milestone in its long-term growth strategy and efforts to strengthen its capital base. The private placement, according to the company,…
Read More » - Perspectives
Urgent need to halt Malami’s gubernatorial bid, by Kola Amzat
Bizarre and unfathomable things are happening in Nigeria-things that significantly disturb the earring and capable of diminishing our much-cherished status as giant of Africa. Things that are absurd to bequeath as legacy to generation now and those unborn! Things that would not advance the cause of our nation particularly, our long-time aspiration for a permanent seat in the United Nations…
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Banking heavyweights lift Nigerian equities market by N1.56trn
The Nigerian equities market rebounded strongly, reversing the previous session’s decline as renewed buying interest in banking heavyweights lifted the overall capitalization by N1.56 trillion. The All-Share Index (ASI) gained 2,413.03 points, representing an increase of 0.98 per cent to close at 247,831.40 points. Also, market capitalisation rose by N1.56 trillion to close at N 159.894 trillion. Notable buy pressure…
Read More » - Economy
Private sector credit grew by 2.8% to N83trn in June 2026, says CBN
The Central Bank of Nigeria (CBN) has revealed a significant expansion in the country’s financial system, with credit to the private sector rising by 2.8 per cent month-on-month to N83.3 trillion in June 2026, up from the N81 trillion recorded in May 2026. However, the apex bank disclosed that credit to the government dipped marginally by 0.99 per cent to…
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