- Business
Sterling HoldCo Confirms full recapitalisation of two banking subsidiaries
Sterling Financial Holdings Company Plc has confirmed that its core banking subsidiaries, The Alternative Bank (AltBank) and Sterling Bank, are fully recapitalised in line with the Central Bank of Nigeria’s (CBN) revised minimum capital requirements, following final regulatory approvals received in January 2026. The capital-raising programme itself was substantially completed between December 2024 and October 2025, positioning the Group well…
Read More » - Uncategorized
Equities market drops by N577bn amid profit-taking activities
The Nigerian equities market on Tuesday halted its bullish momentum, succumbing to profit-taking activities as the market declined by N577 billion. The Nigerian Exchange Limited All Share Index (NGX ASI) lost by 899.50 basis points, or 0.47 per cent to close at 189,362.94 basis points. Also, market capitalization declined by N577 billion to close at N121.553 trillion. Despite the broad…
Read More » - Economy
UBA UK’s CEO unveils strategy to bridge Africa’s $100bn trade finance gap
The Chief Executive Officer of UBA UK, Loknath Mishra, has unveiled a strategy to position the bank at the forefront of efforts to bridge Africa’s estimated $100 billion trade finance gap and strengthen cross-border trade flows between the continent and global markets. The newly appointed CEO, who spoke in an interview on Arise TV’s Global Business Report on Monday, outlined a clear vision…
Read More » - Business
Market capitalisation gains N5.1trn to cross N120trn mark
The Nigerian equities market sustained its bullish momentum on Monday, as the market capitalisation rose beyond N122 trillion, as investors gain N5.103 trillion in a historic repricing rally. The All-Share Index (ASI) gained by 7,949.36 points, representing a growth of 4.36 per cent to close at 190,262.44 points. Also, market capitalisation gained N5.103 trillion to close at N122.130 trillion. Market…
Read More » - Economy
Nigeria Customs clarifies exchange rate application, reassures traders on valuation accuracy
The Nigeria Customs Service (NCS) has clarified recent concerns over foreign exchange rates applied in Customs valuation, emphasized that all rates are sourced directly from the Central Bank of Nigeria (CBN) and automatically integrated into its digital clearance system, B’Odogwu. In a statement issued by the NCS National Public Relations Officer, Dr. Abdullahi Maiwada, the Service explained that it does…
Read More » - Economy
Nigeria’s inflation drops to 15.10% in January 2026, says NBS
The National Bureau of Statistics (NBS) has disclosed that Nigeria’s headline inflation rate moderated slightly to 15.10per cent in January 2026, down from 15.15per cent recorded in December 2025. According to the latest Consumer Price Index report, the marginal decline of 0.05 percentage points suggests a continued slowdown in price pressures at the start of the year, following several months…
Read More » - Economy
Capital importation into Nigeria grows by 380% to $6bn in Q3 2025
The capital importation into Nigeria increased by 380 per cent to $6.01 billion in the third quarter (Q3) of 2025 from $1.25 billion recorded in the corresponding period of 2024. This is according to the latest report by the National Bureau of Statistics (NBS). According to NBS in its Q3 2025 capital importation report also shows a 17.46 per cent…
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UBA unveils diaspora platform to power global African lifestyle
United Bank for Africa (UBA) Plc, has unveiled a diaspora banking and investment platform designed to serve Africans living and working across the world and within the continent. The platform, launched in collaboration with leading ecosystem partners including United Capital, Africa Prudential, UBA Pensions, Afriland Properties, Heirs Insurance Group, and Avon Healthcare Limited — represents a major step in redefining…
Read More » - Perspectives
Seyi Makinde reign of horror in Oyo state: Never again!, by Kola Amzat
As the nation inches to another electoral cycle in 2027, the long-suffering people of Oyo state are intensely in hurry to see the back of Seyi Makinde and everything he represents and he’s aware of this. The awesome power & authority in the governor’s office has suddenly turned him to an Emperor terrorising everyone in sight. It’s generally acknowledged that…
Read More » - Economy
CBN to impose N20m fine on cheque violators, accreditation withdrawal
The Central Bank of Nigeria (CBN) says banks and accredited cheque printers that repeatedly breach cheque standards will be penalised with fines of up to N20 million. The CBN disclosed the penalty fee in a circular to all deposit money banks (DMBs) and cheque printers on Thursday, signed by Hamisu Abdullahi, director of its banking services department. The circular, dated…
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