Business

A report has revealed that the former Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPC), Mr. Mele Kyari, is allegedly under investigation by Economic and Financial Crimes Commission (EFCC) over abuse of office, misappropriation of funds. According to report, EFCC had begun investigation into the alleged abuse of office and misappropriation of funds by Kyari and…

The Federal Competition and Consumer Protection Commission (FCCPC) on Saturday reacted to reports on Meta threatening to exit Nigeria over the Court’s affirmation of the Commission’s $290 million fine against the company. Meta, the parent company of Facebook, WhatsApp, and Instagram, had threatened to suspend both platforms in Nigeria, citing “unrealistic” regulatory demands and nearly $290 million in fines from…

The Central Bank of Nigeria (CBN) has posted a profit of N38.8 billion for the year ended December 31, 2024. According to the bank’s 2024 financial statements, the CBN (the Group) returned to profit-making, reversing a previous loss of N1.15 trillion in 2023. The Group refers to CBN and its subsidiaries, including the Nigerian Security Printing & Minting Plc (MINT),…

Wema Bank, Nigeria’s oldest indigenous financial institution, marked its 80th anniversary in grand style with a gala dinner held on Friday, May 2, 2025, in Lagos. The event, themed “Timeless Elegance,” drew top dignitaries, government officials, captains of industry, and entertainment icons to celebrate the bank’s legacy and achievements over eight decades. President Bola Ahmed Tinubu, in a congratulatory message,…

The Goup Managing Director and CEO of Nigerian Exchange Group (NGX Group), Temi Popoola has called for a strategic rethink of Africa’s exit challenges, arguing that the continent’s $500 billion pool of informal capital, coupled with technology could transform liquidity and private equity exits.  Speaking on a panel titled “The Exit is This Way” at the 21st Annual AVCA Conference,…

Guaranty Trust Holding Company Plc (GTCO) has released its unaudited Consolidated and Separate Financial Statements for the period ended March 31, 2025, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE). The Group reported profit before tax of N300.4billion on the back of strong performance posted on the core earnings lines of interest income which grew y-o-y by…

Highlights from the 34th Zenith Bank Plc,  Annual General Meeting, held recently with the Founder & Chairman of Zenith Bank plc, Dr. Jim Ovia ; Dame Dr. Adaora Umeoji, GMD/CEO of Zenith Bank ; Executive Directors of the Bank; Dr. Henry Oroh, Dr. Adobi Nwapa, Mr. Akin Ogunranti, Mr. Lawani Adamu, Mr. Louis Odom; Non Executive Directors, regulatory representatives, shareholders…

By Kunle Sanni President Bola Tinubu has congratulated Wema Bank on its 80th anniversary, commending the institution’s resilience and technological innovation, which have set it apart in Nigeria’s banking sector. In a statement issued on Thursday by his Special Adviser on Information and Strategy, Bayo Onanuga, President Tinubu described Wema Bank as Nigeria’s oldest surviving indigenous bank and praised its…

Guaranty Trust Holding Company Plc (GTCO) has released its unaudited consolidated and separate financial statements for the first quarter (Q1) period ended March 31, 2025. The results released to the Nigerian Exchange Limited (NGX) and London Stock Exchange (LSE) show the Group reported profit before tax (PBT) of N300.4billion on the back of strong performance posted on the core earnings…

The Securities and Exchange Commission (SEC) has uncovered another suspected illegal investment platform identified as TOFRO.COM (Tofro), warning Nigerians against falling for their antics to obtain money from them through promise of usually high returns. The Commission raised the alarm in a notice issued on Thursday and made available to journalists. In the notice,  SEC warned that the suspected investment…