News Update

CBN Revokes Licences of Aso Savings and Union Homes

The Central Bank of Nigeria has revoked the operational licences of Aso Savings and Loans Plc and Union Homes Savings and Loans Plc. This regulatory action reinforces the apex bank’s commitment to financial system stability and stronger compliance within Nigeria’s mortgage banking subsector. The decision was taken under the powers granted to the CBN by …

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FG, SEC, NGX Group forge unified direction on Capital Gains Tax reform

The Federal Government of Nigeria has inaugurated the National Tax Policy Implementation Committee (NTPIC), signaling a deliberate shift toward a more predictable and market-aligned rollout of the newly enacted Capital Gains Tax provisions. This move follows extensive technical engagements with key capital-market institutions, including the Securities and Exchange Commission (SEC) and the Nigerian Exchange Group …

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AfDB Approves $500M Loan for Nigeria’s Energy Transition Programme

The African Development Bank has approved a 500 million dollar loan for Nigeria in a move that strengthens the country’s ongoing economic reform efforts and supports its transition toward a more sustainable energy system. The approval reflects the strong confidence of the Bank in Nigeria’s current policy direction and reform commitments. According to the Bank, …

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FirstBank demonstrates effective assets and liability management with Eurobond Redemption

FirstBank of Nigeria Limited has once again proven its reputation for strong financial discipline and sound balance sheet management through the successful redemption of its $350 million (three hundred and fifty million United States dollars) Eurobond at maturity on October 27, 2025. The Eurobond, originally issued in 2020 with a coupon rate of 8.625 percent …

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Investor Confidence Strengthens as Monetary Policy Signals Shift Toward Easing

Investor confidence is on the rise, and stock markets are responding with renewed strength. Across global and local markets, optimism has returned as expectations of interest rate cuts fuel a rally that is bringing investors back into equities. In Nigeria, the market closed the week on a positive note, with the Nigerian Exchange Limited (NGX) …

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IMF Intensifies Efforts to Track Illicit Financial Flows and Support Nigeria’s Fiscal Stability

The International Monetary Fund (IMF) has reaffirmed its commitment to assisting Nigeria and other developing nations in tracing and curbing Illicit Financial Flows (IFFs), a persistent challenge undermining fiscal stability and economic growth.IMF Managing Director, Kristalina Georgieva, highlighted this during a recent policy dialogue on governance and fiscal resilience, emphasizing that strengthening transparency and improving …

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Nigeria’s Non-Interest Capital Market Hits ₦1.6 Trillion — SEC

Nigeria’s non-interest capital market has continued its upward trajectory, reaching a valuation of ₦1.6 trillion, according to the Securities and Exchange Commission (SEC). The development reflects growing investor confidence and a deepening commitment to ethical, Sharia-compliant finance, which is fast becoming a key pillar in Nigeria’s evolving financial landscape. The announcement was made by the …

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Nigeria’s IGR Rises by 49% — Lagos, Rivers, and FCT Lead the Pack

Nigeria’s fiscal outlook continues to evolve as new data from the National Bureau of Statistics (NBS) reveals that the thirty-six states and the Federal Capital Territory generated a total of ₦3.63 trillion as Internally Generated Revenue (IGR) in 2024, reflecting a remarkable 49.70 percent growth rate from the ₦2.43 trillion recorded in 2023. This performance …

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Nigeria’s Stock Market Attracts N1.3 Trillion in Foreign Investment in 7 Months

Nigeria’s stock market continues to draw strong attention from global investors, with foreign inflows reaching N1.3 trillion in just the first seven months of the year. This surge marks a renewed confidence in the country’s capital market, as international players seek opportunities in Africa’s largest economy despite global uncertainties. The latest report released by the …

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ISA 2025: Nigeria’s Capital Market Set to Hit ₦300 Trillion

Nigeria’s Securities and Exchange Commission (SEC) has projected that the country’s capital market could rise to an estimated ₦300 trillion under the framework of the newly enacted Investments and Securities Act (ISA) 2025. This projection was shared by the SEC’s Director-General, Dr. Emomotimi Agama, during a meeting with President Bola Tinubu and members of the …

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