Business

The African Export-Import Bank (Afreximbank) has announced financing arrangements worth $118 million to support Nigeria’s creative economy, as part of efforts to help local businesses expand production, protect intellectual property and compete in international markets. The agreements, announced at the Creative Africa Nexus (CANEX) WKND 2026 in Lagos, comprise a $75 million facility involving Afreximbank and the Development Bank of…

FMDQ Securities Exchange Limited has  announced the approval and listing of Valency SPV PLC’s N4.26 billion 5-Year 21.00% Series 1 Fixed Rate Bond under its N50.00 billion Bond Issuance Programme on its platform.  This approval by the Exchange’s Board Listings and Markets Committee underscores FMDQ Exchange’s role in facilitating access to long-term capital and broadening investment opportunities in Nigeria’s debt…

BudgIT said it has launched the 11th edition of its flagship State of States Report, themed “From Allocation to Impact: Rethinking State Spending Priorities”.  The BudgIT report examines the 2025 fiscal performance of Nigerian states, assessing their revenue mobilisation capacity, expenditure efficiency, fiscal viability, debt sustainability and spending priorities across critical development sectors, including health, education, agriculture and water, sanitation…

By Osho Olatonmiwa The Lagos State Consumer Protection Agency (LASCOPA) has provided heads of its annex offices with mobile phones to enhance communication, accelerate consumer complaint reporting and improve service delivery across the state. The initiative was announced following a one-day interactive engagement organised by the agency for its management team, annex office heads and other staff members. The General…

The Nigerian banking sector’s average maximum lending rate increased to 32.62 per cent in September 2026 from 29.20per cent reported in August 2026. According to the apex banking regulating body  “Money Market Indicators” the reported 32.62 per cent in September is coming just as the Monetary Policy Committee (MPC) reduced MPR by 350 basis points  from 26.50 per cent in…

Ecobank Nigeria has reaffirmed its commitment to youth empowerment, innovation and entrepreneurship with the successful hosting of the grand finale of the InnovateX Hackathon, its flagship innovation challenge powered by Blaze by Ecobank in partnership with Heave Ventures and Verve. Held in Lagos on Friday, the competition brought together some of Nigeria’s brightest undergraduate innovators, culminating in the emergence of…

Access Holdings Plc, on Monday announced its audited result accounts for half year ended June 30, 2026 with profit before tax at N414.1 billion, about 29.2 per cent growth from N320.57billion reported in half year ended June 30, 2025.   This double-digit growth of 29.2per cent was driven by a 70.0per cent reduction in the impairment charge and a 51.1per cent…

A group of analysts have revealed that the Nigerian equities market is expected to sustain a cautiously positive outlook this week, supported by renewed buying interest in selected large-cap stocks and improved trading activity. In the coming week, Cowry Assets Management Limited said, “we expect the equities market to sustain a cautiously positive outlook this week, supported by renewed buying…

The African Export-Import Bank (Afreximbank) and the African Petroleum Producers’ Organization (APPO) have launched the Africa Energy Bank (AEB) with an authorised capital of $5 billion to address financing challenges in the continent’s energy sector. The institutions announced the launch on Saturday during the bank’s inaugural general meeting in Abuja, where Helmy Ghazi was appointed its first president. In a…

RC Investment Management Limited (RCIM) has transferred about 5.2 billion First HoldCo Plc shares to investors as part of an ongoing disposal of a 10.43 billion-unit shareholding acquired in July 2025. In a statement on Thursday, First HoldCo and RCIM said the shares were acquired by RCIM under a Central Bank of Nigeria (CBN)-approved shareholder divestment arrangement, with the investment…