- Economy
BREAKING: Tony Elumelu to retire as UBA chairman, bank names successor
United Bank for Africa Plc has announced that its group chairman, Tony Elumelu, will retire from the board of directors on August 21, 2026. The bank disclosed this on Monday during its board meeting, asserting that the process was necessary after the completion of the maximum 12-year tenure for non-executive directors prescribed by the Central Bank of Nigeria. The financial…
Read More » - Economy
Manufacturing , trade drive business activity in June 2026, says NESG
The Nigerian Economic Summit Group (NESG) has said Nigeria’s business activity remained in expansion territory for the sixth consecutive month in June as manufacturing and trade sustained growth despite persistent cost pressures, supply bottlenecks and insecurity. NESG’s June 2026 Business Confidence Monitor (BCM) showed that the current business performance index (CBPI) stood at 104.6 points, unchanged from May but below…
Read More » - Business
CBN, NGX Group impose N530.9m sanctions on Jaiz Bank, others for failing AML regulations
The Central Bank of Nigeria (CBN) and Nigerian Exchange Group Plc have imposed a total of N530.9 million sanctions on Jaiz Bank Plc for failing to comply with nine banking sector and stock market rules and regulations. The imposed sanctions in 2025 is 1.76 per cent of the N30.16 billion of profit after tax reported in the 2025 full financial…
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At 12% in 2025, First Holdings defaults CBN’s non-performing loan ratio threshold
First Holdco Plc closed the 2025 financial year with Non-Performing Loan ratio of 12 per cent from 10.2per cent to default the Central Bank of Nigeria (CBN) five per cent threshold. Currently at 13.4 per cent in first quarter (Q1) 2026 which is also above the regulatory requirement Most Nigerian’s banks saw a fresh rise in bad loans in 2025…
Read More » - Economy
Nigeria’s foreign reserves gain $1.88bn in June 2026
The Nigerian foreign reserves gained $1.88 billion or 3.2 per cent in June 2026 to $51.46 billion from $49.88 billion when it closed in May 2026. This is according to the latest data by the Central Bank of Nigeria (CBN). The data by CBN revealed that the country’s foreign exchange buffer for the first time in 2026 crossed the $51…
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Nigerian equities market to remain cautious this week, says analysts
Capital market analysts have expressed that investor sentiment on the equities market section is expected to remain cautious in the near term. They listed corporate earnings releases of the half year ended June 2026, developments in the foreign exchange market, FTSE latest reclassification update and macroeconomic policy signals as the major drivers. Speaking on equities market outlook, a group of…
Read More » - Company Report
PZ Cussons declares N260.46bn revenue in 2026FY
The Board of Directors of PZ Cussons, a leading manufacturer of personal healthcare products and consumer goods, has recorded N260.46 billion in revenue, representing 22per cent growth for the 2026 financial year, compared with N212.63 billion in the corresponding period in 2025. A breakdown analysis of the unaudited financial results released revealed that the company achieved significant profitability for the…
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SEC clears Bitbarter Technologies, six other new fintech firms for ARIP
The Securities and Exchange Commission (SEC) has cleared seven new fintech and digital asset firms for admission into its Accelerated Regulatory Incubation Programme (ARIP), granting them Approval-in-Principle (AIP) to operate within the programme’s regulatory sandbox as part of efforts to promote innovation while protecting investors. The Commission, in a public notice said the move reinforces its commitment to fostering responsible…
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Access Holdings, Coronation Group celebrate enduring Legacy of Nigerian Modernism
Access Holdings Plc and Coronation Group hosted a private reception at Tate Modern, London, to celebrate the enduring legacy of Nigerian Modernism, one of the most significant presentations of African art in the gallery’s recent programme. The Nigerian Modernism exhibition, in partnership with Tate Modern from October 10, 2025, to May 8, 2026, brought together nearly 300 works by more…
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In Hamburg, Bagudu promotes Nigeria as Africa’s most attractive investment destination
President Bola Tinubu’s economic reforms have positioned Nigeria as Africa’s most attractive investment destination, according to Minister of Budget and Economic Planning Senator Abubakar Bagudu. The minister responsible for the nation’s bilateral relations spoke at the Third Hamburg Sustainability Conference in Hamburg, Germany, explaining that the macroeconomic stability achieved through the reforms has made Nigeria attractive for long-term investment across…
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