Business

Unilever Nigeria Plc has released its unaudited financial statement for the nine-month period ended September 30, 2026, recording continued growth in revenue and profitability, underpinned by strong brand fundamentals, disciplined operations and route to market execution. The Company recorded revenue of N184.0 billion, representing growth of 18per cent compared with N155.4 billion in the corresponding period of 2025.  Gross profit…

First Holdco Plc on Friday announced its third quarter (Q3) ended September 30, 2026 with profit before tax of N911.24 billion, a growth of 61 per cent  from N566.54billion reported in the third quarter ended September 30, 2025.  The financial institution in the period under review  posted N744.6 billion profit after tax, which is 63 per cent increase when compared…

The Central Bank of Nigeria (CBN) has granted Approval-in-Principle (AIP) to JPMorgan to establish JPMorgan Merchant Bank Nigeria Limited, marking a new step in the US financial institution’s plans to expand its presence in the country. The approval was announced by Michael Akuka, Director of the CBN’s Corporate Communications and Investor Relations Department, amid ongoing reforms aimed at strengthening financial…

A Lagos high court has granted United Bank for Africa (UBA) Plc’s request to preserve assets in a dispute with Vitol over the alleged diversion of N242 million in petroleum products. In a ruling last Thursday, Justice K. A. Jose granted three prayers in the bank’s application, including requests to prevent the dissipation of assets and restrict dealings with funds…

Aliko Dangote, has acquired a 25per cent stake in Kenya Pipeline Company (KPC) in a deal valued at approximately $327 million, expanding his investments in East Africa’s petroleum distribution infrastructure. Dangote, the founder and Chief Executive Officer of Dangote Industries Limited, disclosed the acquisition during an event in London on Wednesday   according to Bloomberg. The acquisition comes as the…

The National Information Technology Development Agency (NITDA) and 251 other organisations have recorded 2,769,512 digital literacy training achievements across Nigeria in the last three years, representing 5.54 per cent of the Federal Government’s target of reaching 50 million beneficiaries by 2027. The figure was disclosed through the National Digital Literacy Dashboard unveiled at the 2026 National Digital Literacy Workshop in…

JPMorgan Chase & Co., the largest bank in the United States by assets, has deposited N50 billion ($38 million) with the Central Bank of Nigeria (CBN) as it advances its application for a merchant banking licence in Nigeria. According to Bloomberg, which cited people familiar with the matter, the deposit is one of the final regulatory requirements for obtaining approval…

The Association of National Accountants of Nigeria (ANAN), Ikeja Branch, has reaffirmed its commitment to professional excellence, collaboration and social responsibility through its ANAN Cares outreach to Babs Salam Orphanage Home. The association also paid a courtesy visit to the Acting Auditor-General for Lagos State, Dr. Olufunke Omolara Tayo-Makanjuola. The Branch chairman Mr. Ekundayo Omitaomu, FCNA, said the visit was…

Dangote Petroleum Refinery has extended the closing date of its landmark initial public offering (IPO) by two weeks in a strategic move to accommodate surging demand, according to market sources familiar with the IPO. The decision gives retail and institutional investors extra time to participate in what is poised to be Africa’s largest-ever share sale—a N2.15 trillion ($1.6 billion) offering…

OPay Limited, the Nigerian-focused fintech preparing for a proposed $4 billion initial public offering (IPO) in the United States, has secured board and shareholder approval to pursue a secondary listing on the Nigerian Exchange Limited (NGX), potentially opening its ownership to more domestic investors. The approval, disclosed in the company’s registration statement filed with the United States Securities and Exchange…