Industry news and update
DPH, The largest financial services in the world and contributes to the vitalization of household financial assets through providing high quality products and services. In addition to these, investment products that are suitable to the medium to long term asset building for individuals are developed…
Central Bank of Nigeria Confirms 82 BDCs Fully Licensed Under Revised Guidelines
The Central Bank of Nigeria has announced the approval of final operating licences for eighty two Bureaux De Change following the completion of compliance checks under the 2024 Regulatory and Supervisory Guidelines for BDC Operations. This development represents a major step in the effort to strengthen transparency and establish a well regulated retail foreign exchange
CBN REVISES CASH-RELATED POLICIES NATIONWIDE
The Central Bank of Nigeria released a new directive announcing significant revisions to the country’s cash-related policies. The circular, issued by the Financial Policy and Regulation Department of the CBN, introduces a refreshed framework designed to ease the rising cost of cash management, address growing security concerns, and reduce the systemic risks associated with Nigeria’s
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,
Nigeria Records First Successful Transaction on National Payment Stack
Nigeria has reached a significant milestone in its journey toward modernizing its financial infrastructure as the country successfully completed the first live transaction on the National Payment Stack (NPS). The transaction, which took place on Friday, November 7, 2025, at 11:56 a.m., was executed between PalmPay and Wema Bank under the coordination of the Nigeria
Naira and Stocks Dip as Market Reacts to Geopolitical Tension
Nigeria’s financial markets opened the week on a cautious note as the naira and equities recorded mild losses, reflecting investor reactions to renewed geopolitical tension and profit-taking after a strong October rally. The All-Share Index (ASI) of the Nigerian Exchange (NGX) fell by 0.25% to close at 153,739.11 points, resulting in a market capitalization decline
NGX Group Declares N1.00 Interim Dividend, Reaffirms Commitment to Shareholder Value
The Nigerian Exchange Group Plc (NGX Group or the Group) has announced the declaration of an interim dividend of N1.00 per ordinary share of 50 kobo each, following the approval of its unaudited financial statements for the third quarter ended 30 September 2025, at the meeting of its Board of Directors. According to a statement
Nigeria Loses N316 Billion to Ponzi Schemes — SEC Warns Against Greed and Ignorance
Abuja, Nigeria — The Securities and Exchange Commission (SEC) has revealed that Nigerians have lost an estimated three hundred and sixteen billion naira to Ponzi schemes and illegal fund managers over the years, describing the situation as a growing threat to investor confidence and financial stability. Speaking at a journalists’ academy in Abuja, the Head
Nigerian banks record 213 million social ad impressions in Q3 2025
Nigerian banks collectively recorded over 213 million social media ad impressions in the third quarter of 2025, underscoring the sector’s increasing shift towards digital marketing and online customer engagement. According to data from digital marketing analytics firm Adlytics Africa, the banking sector’s online advertising footprint surged by 18% compared to the previous quarter, as more financial
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
Foreign Portfolio Inflows Into Nigeria’s Stock Market Jump 846% to Over ₦1 Trillion
Foreign portfolio inflows into Nigeria’s stock market have surged dramatically, rising by an unprecedented 846 percent to over ₦1 trillion, signaling renewed confidence in the country’s equities market and broader economy. According to the latest data from the Nigerian Exchange Limited (NGX), total foreign inflows reached ₦1.03 trillion as of September 2025, compared to ₦108.93
China’s $450 Million Steel Investment Signals a New Era for Nigeria’s Industrial Growth
Nigeria’s industrial landscape is witnessing a defining moment as China’s Stellar Steel Group, in partnership with Inner Galaxy Group, announces a four hundred and fifty million dollar investment for the construction of a modern steel manufacturing plant in Ogun State. The project, which is expected to begin operations by mid-2026, represents a major step toward
How to Build a Personal Budget That Works
In the world of investment and business leadership, personal financial discipline remains the foundation of lasting success. Many people focus on scaling ventures and maximizing returns, yet the ability to manage personal finances effectively is what separates sustainable wealth from temporary prosperity. A personal budget is not simply a record of income and expenses. It
Understanding Tax Obligations for Entrepreneurs
In today’s fast-changing business environment, financial literacy goes beyond budgeting and profit-making. It also involves understanding taxation and compliance. For many entrepreneurs, tax remains one of the least understood yet most important aspects of running a sustainable business. Proper tax management not only keeps you compliant with the law but also improves your cash flow,
Nigeria Imports 69 per cent of the 21 billion litres of petrol Despite Domestic Capacity Growth
Nigeria’s downstream petroleum sector is undergoing a period of transition defined by both progress and contradiction. Despite the commissioning of the $20 billion Dangote Petroleum Refinery, Africa’s largest single-train refinery with an installed capacity of 650,000 barrels per day, the country continues to rely heavily on imported refined petroleum products. Recent industry data indicate that
Great Nigeria Insurance Records Strong Turnaround with ₦2bn Profit, Driven by IFRS 17 Transition and NIIRA 2025
After navigating a turbulent economic landscape, Great Nigeria Insurance (GNI) Plc has made an impressive return to profitability, reporting a ₦2 billion profit after tax for the 2024 financial year. This marks a remarkable turnaround from a ₦736 million loss recorded in 2022, underscoring the company’s strong recovery strategy and prudent financial management. The Insurance
