Business

Fidelity Bank Plc said it recorded a profit after tax (PAT) of N242.4 billion for the 2025 financial year, driven by growth in interest income and fees-based earnings. In its audited financial results released on the Nigerian Exchange Limited (NGX) , the bank said the performance was underpinned by a 38.7 per cent year-on-year increase. “Interest and similar income increased…

On the occasion of the Africa Forward Summit, co-organised by France and Kenya in Nairobi this week, Proparco and Ecobank Group marked a new milestone in a long-standing partnership, entering a new phase of strategic cooperation to support Africa’s private sector. The two institutions signed a Memorandum of Understanding (MoU) to accelerate financing across agricultural value chains, positioning Ecobank as…

Five listed Nigerian Tier-1 banks, have released their full-year audited 2025 results for the period ended December 2025, reporting a combined impairment charges on loans to customers of N2.4 trillion compared to N1.44 trillion booked in 2024. This represents a 64per cent YoY growth and marks the highest provision on loans and advances to customers in the last three years.…

The National Information Technology Development Agency (NITDA) has reiterated that strong and reliable digital infrastructure remains critical to attracting investment, improving competitiveness, and driving sustainable growth in Nigeria’s startup ecosystem. The agency reaffirmed this position during the Africa Fintech Foundry Ecosystem Roundtable 7.0, a virtual engagement themed, “The Capital Reset: What Technologies Are Still Fundable in Africa?” Speaking on behalf…

Africa bears roughly a quarter of the global disease burden yet imports nearly 97 per cent of its pharmaceutical commodities, a vulnerability starkly exposed during the COVID-19 pandemic. This severe import dependence leaves Nigeria’s medicine security inherently weak.  To address this, The Alternative Bank (AltBank) is stepping in as the financing answer, deploying asset-acked, risk-sharing capital to fund local pharmaceutical…

Passengers travelling from Atlanta to Lagos aboard a Delta Air Lines flight were left stranded after the aircraft returned to the United States several hours into the journey due to what the airline described as an operational issue. The flight, identified as DL54, departed Hartsfield-Jackson Atlanta International Airport on Saturday evening en route to Lagos before turning back mid-air after…

The Trade Union Congress (TUC) is proposing what it calls a “production subsidy” for Dangote Refinery and other modular refineries to help reduce the cost of premium motor spirit (PMS), better known as petrol.  TUC president, Festus Osifo, said this on Friday when he fielded questions on Channels TVs Politics Today.  Osifo argued that since the Federal Government has maintained…

NGX Regulation Limited (NGX RegCo) has tightened compliance requirements for online trading platforms, warning that Trading Licence Holders (TLHs) deploying digital trading systems without prior regulatory approval could attract sanctions. The directive was contained in a recent circular signed by the Head of the Market Regulation Department, Chinedu Akamaka, and issued to all Trading Licence Holders, highlighting regulatory moves to…

As part of efforts to promote SMEs and strengthen support for operators in the informal sector, Unity Bank has continued to empower small-scale traders and shop owners across Nigeria through its initiative called Shop Collateralised Facility (SHOCOF) SHOCOF is an innovative loan product, and Unity Bank has disbursed over N500 million to beneficiaries, significantly improving access to financing, and further…

Former Minister of Information and Culture, Lai Mohammed, has urged business leaders and institutional decision-makers to treat communication as a core leadership responsibility rather than a support function, warning that organisations that fail to build trust before crises arise could face serious reputational and operational damage. Mohammed made the remarks on Thursday while delivering a lecture titled, “Crisis, Communication and…