The Nigerian government can unlock a $74 billion livestock industry if it abandons failed state-led models like Ajaokuta and adopts a private sector-driven “catalyst model", Chairman of the Alliance for Economic Research and Ethics, Dele Kelvin Oye, has said. Speaking at the 2026 Vanguard Newspaper Annual Economic Conference on Wednesday, Oye warned that Nigeria risks …
Seven Nigerian banks wrote off about ₦2.38 trillion in bad loans in 2025, as the Central Bank of Nigeria’s (CBN) stricter stance on forbearance and loan classification forced lenders to clean up long-standing credit risks. A review of banks' financial statements reveals that the write-offs, which cut across Zenith Bank, First HoldCo, GTCO, Stanbic IBTC, …
The Central Bank of Nigeria (CBN) has warned Nigerians to be on high alert due to a surge in fraudulent messages and cyberattack attempts aimed at deceiving the public and compromising personal information. The warning was contained in a statement issued on Tuesday and signed by Hakama Sidi-Ali, the Acting Director of Corporate Communications. According …
President Bola Tinubu has sacked the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, as part of a sweeping cabinet reshuffle that also removed the Minister of Housing and Urban Development, Umar Dangiwa. The Secretary to the Government of the Federation, George Akume, announced the changes in a memo on Tuesday. According …
Nigeria had been ranked among Africa’s top 10 countries on digital rights, but has dropped five places, weakening its position, according to the 2025 Londa Report released at the Digital Rights and Inclusion Forum (DRIF26) in Abidjan, Côte d’Ivoire. The report places South Africa as the leading country on digital rights for the second consecutive …
Nigeria’s top business leaders are set for an unprecedented surge in dividend income as stronger corporate earnings and higher payout ratios lift returns to shareholders, with Aliko Dangote and Abdul Samad Rabiu dominating the rankings by a wide margin. A review of audited financial statements across major listed companies shows that Dangote and Rabiu alone …
The company said shareholders approved the plan to raise capital through the issuance of ordinary shares at its 20th Annual General Meeting held in Lagos, according to a statement on Monday signed by the company secretary, Temitope Hassan. Subject to regulatory approval, the move is aimed at strengthening the company’s capital base and positioning …
Stanbic IBTC Holdings Plc paid ₦119 million in regulatory fines in 2025 over reporting failures and disclosure issues, even as the bank posted one of its strongest financial performances on record. The fines were linked to various infractions, including failures to report cyber incidents and incorrect disclosures in fund statements, according to details in its …
The Centre for the Promotion of Private Enterprise (CPPE) has said the Federal Government’s 2026 fiscal policy measures will significantly reshape Nigeria’s economy by favouring local production while putting pressure on import-dependent businesses. In a policy statement issued on Sunday, April 19, CPPE Chief Executive Officer, Dr Muda Yusuf, said the new tariff and tax …
Foreign-owned fast-moving consumer goods (FMCGs) companies in Nigeria are facing growing financial pressure as rising finance costs, heavy dollar debt, and dependence on parent company funding continue to weigh on their operations and shareholder value, a review of their 2025 audited accounts shows. While some companies recorded a return to profitability, the underlying numbers reveal …
