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Femi Otedola purchases N222.2bn First Holdco shares on NGX
The chairman of First Holdco Plc, Mr.. Olufemi Otedola has acquired an additional N222.2 billion worth of Group on the floor Nigerian Exchange Limited (NGX). According to market disclosure on the Exchange, the billionaire investor acquired further 1,779,094,976 shares of the Group at N124.90 per share, making it a single purchase he has made in the financial institution. The…
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Nigerian equities market drops by N800bn
The Nigerian equities market took a pause to its recent gains, closing lower as the overall capitalization declined by N800 billion. The All-Share Index dipped by 1,241.19 per cent, representing a loss of 0.50 per cent, to close at 245,418.37 points. Similarly, the overall market capitalisation value shed N800 billion to close at N158.319 trillion. The market negative performance was…
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Recapitalisation: Analysts commend FCMB’s fiscal turnaround
FCMB Group Plc has entered what financial analysts describe as one of the most decisive phases in its corporate history, following a remarkable turnaround in its financial performance that has strengthened investor confidence and reinforced the group’s long-term growth prospects. This comes after the company’s successful recapitalisation, which preserved its international banking licence. The financial holding company delivered an exceptional…
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APC primary crisis deepens as Ondo, Benue aspirants sue party, INEC
By Boye Oyeyemi The crisis trailing the All Progressives Congress primaries for the 2027 general elections has deepened as aggrieved aspirants in Ondo and Benue states instituted legal actions challenging the party’s decision to overturn the outcomes of the exercises that produced candidates. The suits, filed against the APC, its National Working Committee and the Independent National Electoral Commission, questioned…
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At 43.82%, GTCO tops others as highest Capital Adequacy Ratio in 2025
Guaranty Trust Holding Company Plc (GTCO) in 2025 closed with a Capital Adequacy Ratio (CAR) of 43.82 per cent from 39.31 per cent in 2024 to emerge as a listed financial institution on the Nigerian Exchange Limited (NGX) with a stronger capital position. CAR measures the financial soundness and shock-absorbing capacity of banks by comparing their capital to risk-weighted assets.…
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SEC direct market operators two days to submit Q2 2026 ownership
The Securities and Exchange Commission (SEC) has directed all Capital Market Operators to submit their Q2 2026 Ownership Structure and Capital Flows Returns on or before Friday, July 10, 2026. This is according to the market regulator’s latest circular titled “Request for the Submission of Q2 2026 Ownership Structure and Capital Flows Returns” published on Wednesday, July 8. The directive…
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S&P places Nigeria on 2027 watchlist for frontier market reclassification
S&P Dow Jones Indices (S&P DJI) has placed Nigeria on its 2027 watchlist for a potential reclassification as a “Frontier” market, citing regulatory reforms aimed at improving transparency, market integrity, and accessibility. The global index provider disclosed this in a notice released, noting that it will monitor developments in Nigeria for the remainder of 2026 before deciding whether to reclassify…
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BREAKING: Nigerian equities market gains N3.45trn in one day to cross N155trn mark
The Nigerian equities market appreciated by N3.45trillion on Wednesday to cross the N155 trillion mark as investors renewed interest in Airtel Africa Plc, and 32 others. As Airtel Africa gained 10 per cent or N27.40 to close at N5,801.40 per share, the market capitalisation of listed equities on the Nigerian Exchange Limited (NGX) closed for trading at N155.586 trillion from…
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At 12% in 2025, First Holdings defaults CBN’s non-performing loan ratio threshold
First Holdco Plc closed the 2025 financial year with Non-Performing Loan ratio of 12 per cent from 10.2per cent to default the Central Bank of Nigeria (CBN) five per cent threshold. Currently at 13.4 per cent in first quarter (Q1) 2026 which is also above the regulatory requirement Most Nigerian’s banks saw a fresh rise in bad loans in 2025…
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SEC clears Bitbarter Technologies, six other new fintech firms for ARIP
The Securities and Exchange Commission (SEC) has cleared seven new fintech and digital asset firms for admission into its Accelerated Regulatory Incubation Programme (ARIP), granting them Approval-in-Principle (AIP) to operate within the programme’s regulatory sandbox as part of efforts to promote innovation while protecting investors. The Commission, in a public notice said the move reinforces its commitment to fostering responsible…
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