- Economy
Tinubu committed to inclusive, innovative development, says Bagudu
Minister of Budget and Economic Planning, Senator Abubakar Bagudu, has reaffirmed President Bola Tinubu’s commitment to inclusive, sustainable, and innovation-driven national development, emphasising that this commitment is essential to achieving his administration’s ambitious vision of a $1 trillion economy by 2030. “Mr President believes that development must include everyone, be sustainable over time, and embrace innovation, because what worked yesterday…
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Zenith Bank appoints Mustafa Bello as Jim Ovia retires as Chairman
Zenith Bank Plc has appointed Mustafa Bello as its new Group Chairman as the bank’s founder and former Group Chairman, Jim Ovia, retires. The bank disclosed the leadership transition in a statement signed by its secretary, Michael Otu, on Tuesday, extolling Mr Ovia’s leadership and achievements in the previous years. According to Zenith Bank, Mr Ovia’s retirement is in line…
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Femi Otedola refutes demanding special allocation in Dangote refinery IPO
Billionaire businessman Femi Otedola has refuted claims that he requested a special allocation from Aliko Dangote in the planned initial public offering (IPO) of the Dangote refinery. Otedola stated this in a social media post shared on his X account on May 4, 2026. His response comes amid growing misinformation targeting Nigeria’s private sector leaders, including a viral claim alleging…
Read More » - Company Report
Lafarge Africa proposes N96.64bn dividend payment to shareholders
The Board of Directors of Lafarge Africa Plc, a leading provider of innovative and sustainable building solutions and manufacturer of a wide range of cement, ready-mix, mortar, and Plaster of Paris brands, has recommended a total dividend of N96.64 billion for its shareholders for the 2025 financial year. This represents a 100per cent payout, with each shareholder set to receive…
Read More » - Economy
Nigeria’s economy on a recovery path after years of stagnation, says experts
A group of experts at Quartus Economics in a report have expressed that Nigeria’s economy is on a recovery path after years of stagnation, with strong gains in output and per capita income recorded over the past two years. The report by Quartus Economics titled, “Nigeria is rising,” cited significant improvements in key macroeconomic indicators and relative performance against regional…
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Zichis Agro Allied obtains shareholders’ approval to raise N50bn fresh capital
Zichis Agro Allied Industries Plc has obtained shareholders’ approval to raise N50 billion additional capital through debt finance or equity raising by public offers, rights issue or a combination of both. The shareholders during the company’s 3rd Annual General Meeting (AGM) in Ogun State, also approved the management’s decision to issue up to N5 billion debt finance by issuance of…
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Access Holdings surpasses N1trn PBT in 2025FY
Access Holdings Plc on Nigerian Exchange Limited (NGX) has reported audited results for the financial year ended December 31, 2025, with profit before tax crossing the N1 trillion mark for the first time to N1.01 trillion, which is about 16.2 per cent increase over N867.02 billion reported in the financial year ended December 31, 2024. The 2025 FY marks a…
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UBA pushes deeper bank-fintech collaboration at Pan African conference
United Bank for Africa Plc (UBA) has reinforced its commitment to deepening collaboration between banks and fintechs across Africa, following the successful hosting of its inaugural Fintech Conference themed “Navigating Regulatory Milestones: The Future of Bank–Fintech Partnerships.” The conference convened more than 20 leading fintechs and ecosystem stakeholders, including PalmPay, OPay, PayAza, Mastercard, Visa, Nigeria Inter-Bank Settlement System, and representatives…
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Market capitalisation gains N26.8trn in April 2026
The Nigerian Exchange posted a historic N26.8 trillion gain in market capitalization within one month, buoyed by signs of returning foreign portfolio inflows and strong domestic participation. Capital market analysts attributed the April performance, the highest monthly gain in the history of the Exchange to improved naira stability, recapitalization clarity in banking, and extended trading hours have deepened liquidity, setting…
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MTN Group to acquire 60% stake in MTN Nigeria’s MoMo
MTN Nigeria has announced that MTN Group, its parent company based in South Africa, will acquire a 60 per cent stake each in MoMo Payment Service Bank Limited (MoMo PSB) and Y’ello Digital Financial Services (YDFS) Limited. MoMo is a payment service bank business that provides financial services, including deposits, payments, transfers and digital wallets to individuals and small businesses…
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