- Economy
Coronation Insurance, others seek approval to raise N100bn
Coronation Insurance Plc, among others insurance companies are concluding arrangements to raise about N100 billion in the first cluster of the industry’s recapitalisation plan. Nigerian Insurance Industry Reform Act (NIIRA) 2025 increased the minimum capital for life insurance businesses from N2 billion to N10 billion, non-life insurance firms from N3 billion to N15 billion and reinsurance companies from N10 billion…
Read More » - Economy
CBN imposes N1.95bn sanction on Zenith Bank
The Central Bank of Nigeria (CBN) in the 2025 financial year imposed N1.95 billion sanction on Zenith Bank for failing to comply with banking sector’s regulations. From the audited result and accounts for full year ended December 31, 2025, the lender disclosed that it was sanctioned N1.4 billion relating to non-compliance to CBN policy on intervention facility and N300 million…
Read More » - Economy
Oyedele refutes admitting errors in new tax laws
The Minister of State for Finance and Chairman, Presidential Fiscal Policy and Tax Reforms Committee, Mr. Taiwo Oyedele, has dismissed reports that he has “finally admitted errors in the new tax laws.” According to a statement by the Presidential Fiscal Policy and Tax Reforms Committee, the publications misrepresent the minister’s statements, falsely alleging that he urged Nigerians to await the…
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Dangote Cement, 19 other companies to reward shareholders with N2.8trn as dividend
Shareholders of Dangote Cement Plc and 19 others listed companies listed on the Nigerian Exchange Limited (NGX) are set to receive a combined dividend payout of not less than N2.8 trillion for the 2025 financial year amid impressive corporate earnings. The dividend distribution, compiled from company filings and corporate disclosures, highlights robust profitability across key sectors, including banking, cement, consumer…
Read More » - Perspectives
De-recognised Mark’s ADC faction: Crying wolf where there is none, by Kola Amzat
“He who comes to equity must come with clean hands”. This legal maxim seems very strange to Alhaji Atiku Abubakar, Senator David Mark and all other recycled politicians who collaborated together to hijack a hitherto fringe party-ADC. In their desperation to unseat the incumbent president after FCT minister, Nyesom Wike hounded them from PDP owing to anti-party activities, they plotted…
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2025FY: Wema Bank declares milestone performance in 2025 with profit crossing N200bn mark
Wema Bank Plc on the floor of the Nigerian Exchange Limited (NGX) has released its audited result and accounts for ull year ended December 31, 2025 with profit before tax crossing the N200billion mark. The financial institution’s profit before tax of N221.85 billion in 2025, about 116per cent significant increase over N102.51 billion in 2024. It posted N194.5billion profit after…
Read More » - Economy
Daraju Industries strengthens market presence with N22.68bn CP quotation on FMDQ Exchange
FMDQ Securities Exchange Limited has approved the quotation of Daraju Industries Limited’s N4.92 billion Series 1 and N17.76 billion Series 2 Commercial Paper (CP) under its N50 billion CP Issuance Programme. This approval by the Exchange’s Board Listings and Markets Committee underscores FMDQ Exchange’s unwavering commitment to providing an efficient, transparent, and well-regulated platform for short-term funding. It further reinforces…
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Dangote key to tackling Africa’s food security challenges, says UN’s Amina Mohammed
The Deputy Secretary-General of the United Nations, Amina Mohammed, has underscored the strategic importance of Dangote Industries Limited -particularly Dangote Fertiliser Limited—in addressing Africa’s mounting food security challenges, while calling for stronger global partnerships to scale its impact. Speaking during a visit to the company’s industrial complex in Ibeju-Lekki, Lagos, Mohammed said the United Nations would prioritise amplifying scalable solutions…
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Nigeria’s company income tax collections slip to 49.8% in Q4 2025, says NBS
National Bureau of Statistics (NBS). has said Nigeria’s Company Income Tax (CIT) collections fell sharply in the fourth quarter of 2025, dropping to N1.49 trillion from N2.96 trillion in the preceding quarter. The decline represents a 49.81per cent quarter-on-quarter contraction, reflecting a slowdown in corporate tax inflows during the period. The drop comes amid evolving macroeconomic conditions and possible seasonal…
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FTSE Russell restores Nigeria’s frontier market status, reflecting NGX market infrastructure gains
Nigeria has been restored to Frontier Market status by FTSE Russell, marking a significant milestone in the country’s reintegration into global investment indices and signalling renewed opportunity for international investors. The reclassification, from “Unclassified” to “Frontier Market,” was approved by the FTSE Russell Index Governance Board following recommendations from its Equity Country Classification Advisory Committee and Policy Advisory Board. It…
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