Business

The MD/CE of the NDIC, Mr. Thompson Sunday has called on the Nigerian Institution of Estate Surveyors Valuers (NIESV) to strengthen strategic collaboration with the Corporation. On this, the NDIC relies on NIESV members for accurate and credible valuation of assets of failed banks, which is critical for effective liquidation and payment of depositors.   The MD/CE made the call during…

The Securities and Exchange Commission (SEC) has reaffirmed commitment to strengthen inter-agency collaborations to identify and prosecute the promoters of Ponzi schemes in line with the Investments and Securities Act (ISA) 2025. The Divisional Head, Legal and Enforcement, SEC, Mr John Achile, said this at the commission’s Journalists’ Academy 2025 in Lagos. Achille said the commission would strengthen various interagency…

First Holdings Plc has announced the completion of the sale of its entire 100per cent equity interest in FBNQuest Merchant Bank Limited to EverQuest Acquisition LLP, a special-purpose vehicle owned by Custodian Investment Plc, Aion Capital, and Evercorp Industries Limited. This was contained in a corporate disclosure filed with the Nigerian Exchange Group (NGX). The corporate communication was in accordance…

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso on Friday, disclosed that foreign capital inflows in Nigeria surged to $20.98 billion in the first ten months of 2025 a, 70 per cent rise above 2024 levels and 428 per cent higher than the $3.9 billion recorded in 2023.  He noted that the surge reflects growing investor…

The Central Securities Clearing System Plc (CSCS) has announced the official go-live of the T+2 settlement cycle in the Nigerian capital market, effective November 28, 2025. This transition from the long-standing T+3 cycle represents a significant milestone in the ongoing modernisation of Nigeria’s post-trade infrastructure and reflects the market’s collective commitment to global best practices. With the implementation of T+2,…

The Central Bank of Nigeria (CBN) has disclosed that Nigeria’s broad money supply rose to N119.04trilion in October 2025 from N117.78tn in September. The increase amounted to N1.25trillion, equivalent to 1.06 per cent, reversing the slowdown recorded a month earlier. Year-on-year, M3 (broad money supply) expanded by N11.04trillion or 10.22 per cent from N107.99tn in October 2024, reflecting a continued…

The Nigerian Exchange Limited All Share Index (NGX ASI) gained by 148.52 basis points or 0.10 per cent on Tuesday to close at 143,763.13 basis points as the Monetary Policy Committee (MPC) of the Central Bank oof Nigeria (CBN) at its 303rd meeting voted to retain Monetary Policy Rate (MPR) retained at 27 per cent. Also, market capitalisation gained N95…

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Tuesday voted to retain Monetary Policy Rate (MPR) or interest rate at 27 per cent and adjust the asymmetric corridor around the MPR to +50bps/-450bps (previous: +250bps/-250bps). The MPC members after the tw-day meeting in Abuja retain the CRR for Deposit Money Banks, Merchant Banks and non-Treasury…

United Bank for Africa (UBA) Plc, hosted a high-level panel session as part of activities to mark its annual Fraud Awareness Week with the theme “Combating Fraud Risk and Cyber Theft in Digital Banking.”  The hybrid session which was hosted at the UBA Head Office in Lagos on Friday, was well attended by regulators, experts and professionals as well as…

The Director General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has urged financial sector stakeholders to strengthen and sustain a culture of proactive compliance to safeguard Nigeria’s position in the global financial system following its recent exit from the Financial Action Task Force (FATF) Grey List. Speaking at the Nigerian Capital Market Institute Compliance Summit, Agama described…