- Economy
UBA delivers core income growth in Q1 2026
United Bank for Africa Plc (UBA) has released its unaudited financial results for the first quarter (Q1) ended March 31, 2026, demonstrating resilient operating performance and continued balance sheet strength despite a moderated profitability environment. Gross earnings increased by five per cent to N801.5 billion, driven by growth across key revenue lines. Interest income also rose 6.9per cent to N641.1…
Read More » - Business
LIRS boss attributes Lagos tax growth to Tinubu’s foresight as 159th JRB meeting ends
The Executive Chairman of the Lagos State Internal Revenue Service (LIRS), Dr Ayodele Subair, has said the remarkable growth of tax administration and internally generated revenue in Lagos State can be traced to the bold reforms initiated by President Bola Tinubu during his tenure as governor of the state. L-R: Folashade Omoniyi, Executive Chairman, Kwara State Internal Revenue Service (KW-IRS),…
Read More » - Economy
Equities market gains N5.51trn WoW to sustain positive momentum
The equities market section of the Nigerian Exchange Limited (NGX) closed last week on a strong footing, advanced by N5.51 trillion to sustain its positive run as gains in key large- and mid-cap stocks continued to lift overall market performance. The benchmark NGX All-Share Index (ASI) advanced by 3.96 per cent week-on-week to close at 225,724.33 points, while the market…
Read More » - Perspectives
“I’ve seen; I’ve conquered”-Adelabu’s offensive declaration at Airport to few un-informed Ibadans, by Kola Amzat
“I came; I saw; I conquered”-This is symbolic of Caesar’s intentions to take credit for the important victory against the Bosporan Empire. He wanted to ensure that the Roman Senate recognized his ability and power as a leader and his importance to the success of the empire. This was the same declaration made by the immediate past minister of power,…
Read More » - Business
8 banks generate N498.45bn from E-banking income in 2025
A total of eight banks generated an estimated N498.45billion from electronic-banking income in the 2025 financial year, up by 13.2per cent from N440.41 billion reported in 2024. Electronic banking income represents income taken on transactions processed via electronic channels such as ATM, POS, mobile banking as well as credit and debit card transactions. The eight banks are: Zenith Bank Plc,…
Read More » - Business
UBA grows total assets by 9.4% to N33.2trn in 2025FY
United Bank for Africa (UBA) Plc has announced its audited financial results for the year ended December 31, 2025, recording total assets of N33.2 trillion, up by 9.4 per cent from N30.3 trillion declared in 2024. The growth in total assets was driven by customer deposits that moved to N27.2 trillion in 2025, an increase of nearly 12per cent from…
Read More » - Economy
Insurance sector’s total assets rise to N4.78trn in 2025
The Nigerian insurance industry has seen a rise in total assets, reaching N4.78 trillion by the fourth quarter of 2025. This is according to the latest Insurance Market Performance report from the National Insurance Commission (NAICOM). This growth, representing a 7.4per cent increase from N4.46 trillion in the previous quarter, is largely driven by the Oil & Gas sector within…
Read More » - Economy
United Capital Group reports record N28.15bn profit, declares final dividend of N1.00 per share
United Capital Group, has recorded its most profitable financial year to date, with profit after tax growing 17per cent to N28.15 billion in the 2025 financial year. The Group reported a 35% increase in revenue, from N43.43 billion in 2024 to N58.55 billion in 2025, driven by a 176per cent surge in net trading income and a 59per cent rise…
Read More » - Economy
Stanbic IBTC Holdings grows profit by 42% to N165.4bn in Q1 2026
Stanbic Ibtc Holdings Plc on Friday announced its unaudited first quarter (Q1) ended March 31, 2026 result and accounts with 42 per cent increase in profit before tax to N165.34 billion from N116.42 billion reported in the first quarter ended March 31, 2025. The lender on the Nigerian Exchange Limited (NGX) saw its profit after tax up by 40 per…
Read More » - Economy
Q1 2026: Transcorp Hotels declares 9% increase in revenue to N20.64bn
Transcorp Hotels Plc , the hospitality subsidiary of Transnational Corporation Plc has announced its unaudited results for the first quarter ended March 31, 2026, recording performance across key metrics. The Company delivered N22.41 billion in revenue, a nine per cent increase from N20.64 billion in Q1 2025, while Profit Before Tax (PBT) increased by 15per cent to N7.08billion. These results…
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