Business

The equities market on Wednesday sustained its bearish trajectory, with the overall capitalization declined by N368 billion. The Nigerian Exchange Limited All-Share Index shed by 580.48 basis points or 0.42 per cent, to close at 138,157.16 basis points. Similarly, the overall market capitalisation value depreciated by N368 billion to close at N87.416 trillion. Market sentiment remained subdued, as shown by…

United Bank for Africa (UBA) Plc, in collaboration with Mastercard, Tuesday announced the launch of the Mastercard prepaid card to further accelerate financial inclusion and expand access to digital payment solutions across Africa. The card, which does not require a traditional bank account, is designed to serve individuals who have historically lacked access to formal financial services, particularly young adults, gig workers, and low-income earners.…

Coronation Registrars Limited, a subsidiary of Coronation Group, has launched a fully automated Bond Processing workflow covering Onboarding, Computation, and E-Payment Notification. This end-to-end solution makes Coronation Registrars the first registrar in Nigeria to digitise the entire bond processing cycle, signalling a significant leap forward in capital market infrastructure. The automation addresses longstanding challenges in the bond market, such as…

The Federal Government is preparing to sell part of its shares in two electricity distribution companies (DisCos) and one generation company (GenCo), with plans to list them on the Nigerian Exchange (NGX). Director-General of the Bureau of Public Enterprises (BPE), Mr. Ayodeji Gbeleyi, disclosed this at his maiden press briefing in Abuja, explaining that the move is part of efforts…

The Securities and Exchange Commission (SEC) has officially launched its newly redesigned website, marking a significant step toward enhancing digital engagement, regulatory transparency, and investor protection. The announcement, made on Monday, emphasized the Commission’s commitment to modernizing its operations and improving access to critical financial information. According to the SEC, the upgraded platform introduces a sleek, mobile-responsive design, improved navigation,…

The Nigerian National Petroleum Company (NNPC) Ltd has signed a Production Sharing Contract (PSC) with the TotalEnergies–Sapetro Consortium for Petroleum Prospecting Licences (PPLs) 2000 and 2001, in what is being described as a groundbreaking development for Nigeria’s oil and gas industry. The agreement, signed on Monday at the headquarters of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) in Abuja, marks…

Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, has met with his Brazilian counterpart, Gabriel Muricca Galípolo, to strengthen economic and financial cooperation between the two countries. The engagement took place during President Bola Ahmed Tinubu’s state visit to Brazil and was part of a broader working mission by the Central Bank of Nigeria (CBN) team to the Banco Central…

 International Air Transport Association (IATA) has disclosed that African airlines recorded a 9.4per cent year-on-year (YoY) increase in air cargo demand in July 2025, one of the strongest performances globally, according to the Cargo capacity for the region slipped slightly by 0.1per cent compared to July 2024. The IATA report on July 2025 global air cargo markets highlighted this growth…

Guaranty Trust Holding Company Plc (GTCO) has announced a significant capital injection of N365.85 billion into its flagship banking subsidiary, Guaranty Trust Bank Limited (GTBank), as part of efforts to meet the Central Bank of Nigeria’s (CBN) new capital requirements for banks with international authorization. The move, disclosed in a regulatory filing on Friday and signed by Company Secretary Erhi…

Chairman of United Bank for Africa (UBA), Tony Elumelu, has revealed some lessons learnt from his appointment as a bank branch manager at just 27 years old. In a post on his official X handle on Friday, Elumelu recounted how this early leadership opportunity at AllStates Trust Bank not only shaped his professional trajectory but also instilled three enduring lessons…