Business

Despite a bruising selloff in the final two trading sessions, the Nigerian equities market closed last week on a bullish note, posting a historic weekly gain of N1.17 trillion in market capitalisation—its highest weekly close on record. The market’s capitalisation rose from N69.29 trillion at the opening bell on Monday to N70.46 trillion at the close of trading on Friday.…

The Director-General, Securities and Exchange Commission (SEC), Dr Emomotimi Agama has has stressed on the need for the mobilisation of capital markets to bridge the colossal financing gap for climate adaptation in Africa. He said this while speaking on The Role of Capital Markets in Closing Financing Gaps for Climate Adaptation presented at the African Development Bank (AfDB) meeting. He…

Challenges Usman to show clause in the agreement that authorised decommissioning of Terminal B at Rivers Port Says action inflicted over $10 million in losses on the company By Kunle Sanni Industrial giant BUA Group has responded to a rebuttal from Hadiza Bala-Usman, the former Managing Director of the Nigerian Ports Authority (NPA), challenging her to publicly identify the specific…

KCB Group Plc (KCB Group) and Access Bank Plc Access Bank) have completed the sale of National Bank of Kenya Limited (NBK) to Access Bank Plc, marking the conclusion of a transaction that began in March 2024. This follows the receipt of all regulatory approvals customary for a transaction of this nature. As a result, NBK, where KCB Group had…

By Kunle Sanni Minister of Works, Dave Umahi, has called on President Bola Tinubu to direct major cement manufacturers—Dangote and BUA—to remit 2% of their sales to the Ministry of Works as compensation for increased patronage resulting from government infrastructure projects. He made this request on Saturday during the official commissioning of Phase 1, Section 1 of the Lagos-Calabar Coastal…

By Kunle Sanni Hadiza Bala Usman, Special Adviser on Policy Coordination to President Bola Tinubu, has refuted claims by BUA Chairman Abdulsamad Rabiu alleging political interference in the termination of their concession at Rivers Port Terminal B. She said this in reaction to an article on Thursday by BUA titled “Two Years of President Tinubu: A Business Perspective,” in which…

The Federal Mortgage Bank of Nigeria (FMBN) has commended the Ogun State Governor, Prince Dapo Abiodun, for remitting all the National Housing Fund (NHF) deduction arrears of the workers in the state. The Executive Director, Finance and Corporate Services, FMBN, Mr. Ibidapo Odojukan, made the commendation when he led the management team of the bank on a courtesy visit to…

Hydrogen Payment Services Company Limited said it joined forces with Ikeja Local Government Area and the Office of the Medical Officer of Health to deliver the impactful “Healthy Heart, Healthy Business” outreach recently at the Ikeja Local Government Secretariat. The initiative successfully engaged a wide range of business owners through a combination of in-person participation and extensive digital awareness campaigns.…

The Securities and Exchange Commission (SEC) has raised alarm over the dangers of Ponzi schemes, stressing of its devastating impact on investor confidence, financial stability, and the Nigerian capital market at large.  This was the central theme of a paper titled “Ponzi Schemes: Avoiding the Pitfalls of Illegality” presented by Head of the Enforcement Department of the SEC, Dr. Sa’ad…

The Central Bank of Nigeria (CBN) has disclosed that credit to Nigeria’s private sector rose to N77.9 trillion in April 2025, up from N76.2 trillion in March. The April figure also exceeds the N77.38 trillion recorded in January and N76.26 trillion in February, indicating a steady upward trend in private sector lending. In simple terms, credit to private sector by…