- Economy
IMF raises concern over Nigeria’s $5bn Abu Dhabi swap deal
The International Monetary Fund (IMF) on Tuesday has warned Nigeria to tread carefully in pursuing a proposed $5billion Total Return Swap financing arrangement with First Abu Dhabi Bank, describing such structures as opaque and potentially risky, despite the country’s improved access to international capital markets. IMF in its 2026 Article IV consultation report said the transaction would require the government…
Read More » - Business
Equities market appreciates by 0.5% on investors demand for Airtel Africa
The Nigerian equities market closed Tuesday trading session on a positive note as gains in Airtel Africa Plc drove the All-Share Index higher by 0.5per cent to 244,700.80 basis points. Consequently, the ASI Month-to-Date and Year-to-Date returns settled at -2.3per cent and +57.3per cent, respectively. As measured by market breadth, market sentiment was neutral (1.0x), as 31 stocks gained relative…
Read More » - Business
Tony Elumelu emerges Seplat Energy Chairman
The Board of Seplat Energy Plc on Tuesday elected Mr. Tony Elumelu,, as the next Chairman of the company, effective January 1, 2027. Elumelu, who joined the Board in January 2026, is the Founder and Chairman of Heirs Holdings, which has a 20.07per cent shareholding in Seplat Energy. Heirs Holdings is a diversified investment company, with interests across strategic sectors…
Read More » - Economy
At $50.12bn,Nigeria’s foreign reserves hit 17-year high
Nigeria’s foreign reserves have risen to $50.12 billion, marking their highest level in more than 17 years and highlighting a significant improvement in the country’s external position over the past year. Latest data by Central Bank of Nigeria (CBN) showed that gross foreign reserves stood at $50.12 billion as of June 5, 2026, compared with $38.28 billion recorded on June…
Read More » - Economy
MTN Nigeria,31 others lift equities market by N515bn
The Nigerian equities market sustained its positive momentum to commence trading for the week, with MTN Nigeria Communications (MTNN) and 31 others pushing the market capitalisation up by N515 billion. The Nigerian Exchange Limited All-Share Index (NGX ASI) rose by 802.94 basis points or 0.33 per cent, to close at 243,396.25 basis points. Similarly, the overall market capitalisation value gained…
Read More » - Economy
Nigeria’s foreign trade surplus increases by 341% to N7.6trn in Q1 2026, says NBS
The National Bureau of Statistics (NBS) on Monday disclosed that Nigeria’s merchandise trade surplus surged to N7.6 trillion in the first quarter (Q1) of 2026, representing a 341per cent increase from the N1.71 trillion recorded in the preceding quarter, driven by stronger crude oil exports and a sharp decline in import spending. The report by NBS showed that total merchandise…
Read More » - Business
Sycamore Integrated Solutions lists N6.89bn Commercial Papers on FMDQ Exchange
In furtherance of its commitment to deepening Nigeria’s capital markets and broadening access to cost-effective short-term funding, FMDQ Securities Exchange Limited has approved the quotation of Sycamore Integrated Solutions Limited’s N1.82 billion Series 1 Tranche A and N5.07 billion Series 1 Tranche B Commercial Papers under its N20 billion CP Programme. This approval by the Exchange’s Board Listings and Markets…
Read More » - Uncategorized
UBA foundation marks World environment day 2026 with tree-planting initiative in Lagos Schools
In commemoration of World Environment Day 2026, the UBA Foundation, the Corporate Social Responsibility arm of United Bank for Africa (UBA) Group, has reinforced its commitment to environmental sustainability through a tree-planting exercise at two of Lagos’ most historic educational institutions – King’s College, Lagos, and CMS Grammar School, Bariga. The exercise marks the commencement of the Foundation’s 2026 Tree…
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2025FY: FCMB Group declares N202bn profit, proposes a 35 kobo dividend
FCMB Group Plc reported a profit before tax of N202.100 billion for the year ended 31 December 2025, according to its audited financial statements just released. This represents an 80.61per cent year-on-year increase from N111.895 billion recorded in 2024, driven by a sharp expansion in interest income and net interest income. Profit after tax rose to N177.271 billion from N73.337…
Read More » - Perspectives
Same Jaded template: Precipitate insecurity, demand for president resignation won’t work this time, by Kola Amzat
Suddenly, the South West geo-political zone has become a haven of militia and banditry. The criminals have turned hitherto a very peaceful and orderly zone to the epicenter of mayhem and pandemonium. Presently, the people of the zone live under the atmosphere of fear and uncertainty. Instructively, of all the six geo-political zones, South West until in recent times has…
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