Business

On the backdrop of demonstrating resilience, the Central Bank of Nigeria (CBN) has disclosed that the banking sector assets increased by 12.7 per cent to N17.98 trillion year-on-year. This was disclosed by Dr. Bandele Amoo, a member of the CBN Monetary Policy Committee (MPC), in his personal statement following the committee’s January meeting. He said in a statement that, “Deposits…

The Director General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa, has called on business leaders to embrace artificial intelligence (AI) as a collaborative partner in driving innovation and economic growth, rather than viewing it as a threat to human jobs. Speaking during a high-level panel session titled “Builders of the New Nigeria – Stories of Scale, Grit,…

A leading electric automobile store, Simply E- Mobile, has launched affordable electric car, tricycle, motorcycle and scooter in Lagos. According to the Managing Director, Cynthia Eboh, the automobile firm located in the heart of Lekki area in Oniru is a one-stop store for fashionable and quality electric motorcycles, tricycles and cars for Nigerians. While presenting the various brands available for…

Odu’a Investment Company Limited, the investment holding company jointly owned by the six South-West States of Nigeria, has announced that Agusto & Co has upgraded its corporate rating to ‘Aa-’ with a Stable Outlook in its recently released 2025 Corporate Rating Report. The upgrade from the previous rating of A+ to Aa- reflects Odu’a Investment’s improved operating income and cash…

Analysts are projecting a drop in the Monetary Policy Rate (MPR) or interest rate by the members of the  Monetary Policy Committee (MPC) of Central Bank of Nigeria(CBN) by 50 basis points to 27 per cent from 27.50 per cent The consensus reflects cautious optimism over moderating inflation and exchange rate stability, tempered by ongoing risks to growth and price…

A new report from the World Bank’s Global Findex 2025 reveals that 59per cent of adults in low- and middle-income economies, including Nigeria, borrowed money in 2024, either through formal, semi-formal, or informal channels to take care of their needs. The findings highlight the evolving landscape of credit access and note persistent disparities in financial inclusion across regions. The survey,…

A report on Friday disclosed that Barbican Capital Limited sales N195.74billion worth of First Holdco shares on the Nigerian Exchange Limited (NGX). Barbican Capital Limited is owned by Oba Otudeko. A notification signed by Company Secretary, Adewale Arogundade  posted on the NGX on July 18 disclosed an “initial” 6,314,116,229 units at N31.00 per share. However, a reports online  indicated that…

 United Bank for Africa Plc (UBA) has initiated a capital raise of over N157 billion through a rights issue aimed at strengthening its financial position and expanding its operations. According to a regulatory filing with the Nigerian Exchange Limited (NGX), the bank, through its stockbrokers United Capital Securities Limited, has submitted an application for the approval and listing of 3,156,869,665…

A major shareholding change occurred at First Holdco Plc on Wednesday, leading to the exit of key shareholder, Oba Otudeko. Otudeko, exited the group in a N323.33 billion deal involving billionaira investors  and Chairman of the Holdings, Mr. Femi Otedola. A total of 10.43 billion ordinary shares of First Holdco  were swapped on the Nigerian Exchange  (NGX) in 17 off-market,…

Access Holdings Plc the parent company of Access Bank, has reaffirmed its long-term strategic blueprint anchored on a deliberate and structured progression: scale, optimise, and sustain. This roadmap, which has driven the Group’s aggressive expansion across Africa and into key global markets, is now entering a crucial optimisation phase, expected to unlock significant value for stakeholders as the organisation heads…