- Uncategorized
Nigerian equities market drops by N800bn
The Nigerian equities market took a pause to its recent gains, closing lower as the overall capitalization declined by N800 billion. The All-Share Index dipped by 1,241.19 per cent, representing a loss of 0.50 per cent, to close at 245,418.37 points. Similarly, the overall market capitalisation value shed N800 billion to close at N158.319 trillion. The market negative performance was…
Read More » - Business
Otedola purchases N77.6bn worth of shares in First HoldCo
The Chairman of First HoldCo Plc, Femi Otedola acquired 706.13 million ordinary shares worth approximately N77.6 billion in a single transaction on the Nigerian Exchange Limited (NGX). The latest purchase further strengthens Otedola’s position in one of the Exchange’s strongest-performing banking stocks this year, with his combined shareholding now rising to 9,277,792,037 shares, representing 21.95per cent of the company. A…
Read More » - Economy
UPDATED: Cautious monetary policy stance remains appropriate amid global uncertainties, says Cardoso
The Governor of Central Bank of Nigeria (CBN) Mr. Olalyemi Cardoso on Tuesday said a cautious monetary policy stance remains appropriate as global uncertainties have heightened due mainly to the renewed hostilities in the Middle East. He noted that the Monetary Policy Committee’s (MPC) decision to maintain the current policy stance followed a thorough assessment of the balance of risks,…
Read More » - Economy
FGN bonds: DMO records N1.74trn subscription, allots N929.3bn
Nigeria’s Debt Management Office (DMO) allotted N929.32 billion across three Federal Government of Nigeria (FGN) bond offerings at its July 2026 bond auction after investors submitted bids worth N1.74 trillion. This reflects sustained appetite for government securities despite lower allotments than the total amount subscribed The auction, held on July 20, 2026, featured the re-opening of the 22.60% FGN January…
Read More » - Company Report
H1 2026: Unilever Nigeria delivers N119.9bn revenue, declares interim dividend.
Unilever Nigeria Plc has released its unaudited financial statement for the six months period ended June 30, 2026. The Company recorded turnover of N119.9billion in the period under review, representing 22per cent topline growth compared to N98.1billion recorded in the corresponding period of 2025. Gross profit grew by 30per cent to N54.7billion, compared to N42.1billion reported for the same period…
Read More » - Business
Djalal Khimdjee appointed CEO of Africa50 Principal Investment Fund
Africa50, the specialist investor in African infrastructure, has announced the appointment of Djalal Khimdjee as Chief Executive Officer of its Africa50 Principal Investment Fund (formerly Africa50 Project Finance), effective 1 August 2026. With more than 25 years of experience spanning infrastructure investment, executive leadership and development finance, Djalal Khimdjee will lead the Fund through its next phase of growth, scaling…
Read More » - Economy
BREAKING: CBN’s MPC retains interest rate at 26.50%
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) at its 306th policy meeting voted to retain the Monetary Policy Rate (MPR) or interest rate at its 26.50 per cent. The committee retained the asymmetric corridor around the MPR at +50basis points/-450basis points. At the end of the two days meeting in Abuja, the committee also maintained…
Read More » - Business
BREAKING: First Holdco posts N1.93trn gross earnings, N653.5bn profit in H1 2026
First HoldCo Plc on Monday announces its unaudited results for the half year ended June 30, 2026 with gross earnings at N1.93trillion, about 16.7per cent increase over N1.66 trillion reported in the half year ended June 30, 2025. One of the oldest banks in Nigeria in its H1 2026 result and accounts on the Nigerian Exchange Limited (NGX) declared profit…
Read More » - Perspectives
Heritage Bank and dangerous politics of corporate survival in Nigeria, By Blaise Udunze
Heritage Bank and dangerous politics of corporate survival in Nigeria, By Blaise Udunze The Heritage Bank’s banking license was revoked, and it was ordered into liquidation on June 3, 2024. This remains one of the most controversial and widely debated events in Nigeria’s financial sector. The lingering concerns even though official reasons have been given as regulatory breaches, inadequate capitalization…
Read More » - Uncategorized
Recapitalisation: Analysts commend FCMB’s fiscal turnaround
FCMB Group Plc has entered what financial analysts describe as one of the most decisive phases in its corporate history, following a remarkable turnaround in its financial performance that has strengthened investor confidence and reinforced the group’s long-term growth prospects. This comes after the company’s successful recapitalisation, which preserved its international banking licence. The financial holding company delivered an exceptional…
Read More »
Follow our WhatsApp Channel