Business

The Central Securities Clearing System Plc (CSCS) has said its new portal would enhance digital access for custodians’ operators and operational efficiency. The Custodian Portal, a user-centric digital solution is design to optimise custodian operations through intuitive, secure, and efficient features. The Portal offers a streamlined experience for market participants, with powerful tools that facilitate comprehensive portfolio and trade management,…

The Nigerian equities market, last week, sustained its bullish momentum with a gain of 2.18 per cent amid sharp drop in Treasury bill (T-bills) yields The sharp drop in T-blls  yields at the mid-week Primary Market Auction, a direct consequence of interest rate cut expectations prompted a wave of portfolio reassessments, particularly in light of the Monetary Policy Committee’s (MPC)…

Small and Medium Enterprises (SMEs) have been encouraged to adopt digital tools to enhance their operations and drive sustainable growth. This call was made during the Fidelity SME Empowerment Program 2025, held recently at the bank’s dedicated SME Hub in Gbagada, Lagos. The event, which drew a large turnout of entrepreneurs and stakeholders, marked the official launch of Fidelity Bank’s…

Lagos residents under the Eko Electricity Distribution Company (EKEDC) should brace for daily power interruptions starting Monday, July 28, 2025, and lasting until Thursday, August 21, 2025. EKEDC announced in a statement that the scheduled outages are due to critical maintenance work being undertaken by the Transmission Company of Nigeria (TCN) on the Omotosho-Ikeja West 330kV line. The daily power…

NNPC Gas Marketing Limited (NGML), a subsidiary of the Nigerian National Petroleum Company Limited, has signed a Joint Venture agreement with Zuid Energies Limited for the development of critical gas infrastructure in Ajaokuta, Kogi State. The agreement, which was formalised on Friday during the Mobility-CNG Stakeholders’ Workshop in Abuja, will see the establishment of a 6 million standard cubic feet…

Foremost entrepreneur and founder of Dangote Cement Plc, Aliko Dangote has announced his retirement as a Director and the Chairman of the Board of Directors, effective Friday, July 25, 2025. He is relinquishing his position as chairman and retiring from the board so as to focus more attention on the Refinery, Petrochemicals, Fertiliser and Government Relations, in order to drive…

By Kunle Sanni – President Bola Tinubu has told electricity generation companies (GENCOs) that the federal government will thoroughly verify and validate the ₦4 trillion in outstanding debt claims before any payments are made. Speaking during a meeting with GENCO executives at the Presidential Villa on Friday, the President acknowledged the financial strain in the power sector but insisted that…

The local currency, Naira closed the week on a high note in the parallel market, reaching N1,520 against the dollar, making it the strongest performance for the currency throughout the week. This rate is N14 stronger than the official rate posted by the Central Bank of Nigeria (CBN), which stood at N1,534/$1 as of market close on Thursday. This development…

 Access Bank Plc, through its wholly owned subsidiary Access Bank UK Limited, has finalized the acquisition of a 76per cent majority stake in AfrAsia Bank Limited, a Mauritius-based commercial bank renowned for bridging banking services between Africa, Asia, and global markets. The transaction, which has received all regulatory approvals from the Bank of Mauritius and the Financial Services Commission, marks…

TAJ Bank Ltd has suffered another system glitch in March this year, leading to unauthorized transfers of a staggering N957.4 million to several accounts in 26 banks and fintech platforms, according to a report by Nairametrix. This came nearly a year after the bank faced a similar system glitch that moved N139.6 million from its system. However, in a surprising…