Jaiz Bank Plc has received a national scale long-term issuer rating from BBB-(NG) to BBB(NG), with the outlook revised from positive to stable. The Nigerian pioneer non-interest bank was upgraded by GCR Ratings, a leading rating agency in Africa. In a statement on Wednesday, September 24, the Managing Director/Chief Executive Officer, Haruna Musa, reaffirmed the …
Guaranty Trust Holding Company Plc (GTCO), the parent company of Guaranty Trust Bank, has reported a 40.13 per cent decline in profit before tax (PBT) for the first six months of the year. The Group's audited financial statements for the six months ended June 30, 2025, released on Tuesday, September 23, show the pre-tax profit …
The Centre for the Promotion of Private Enterprise (CPPE) has expressed concern that the Central Bank of Nigeria (CBN) benchmark interest rate cut will require the federal government to play a complementary role to fully unlock growth potential for the Nigerian economy. The CPPE Chief Executive Officer, Muda Yusuf, raised this in a statement on …
The Central Bank of Nigeria (CBN) has introduced a 75 per cent cash reserve ratio (CRR) on non-Treasury Single Account (TSA) public sector deposits to improve liquidity management. The Governor of CBN, Olayemi Cardoso, revealed this during his briefing on the outcome of the Monetary Policy Committee (MPC) meeting on Tuesday, September 23. He further …
Nigeria’s gross external reserves expanded by $1.03 billion in the last 30 days, according to data from the Central Bank of Nigeria (CBN). This represents a 2.51 per cent increase to $42.03 billion as of September 19 from $41 billion as of August 19. A review of the CBN data shows that this is the …
Nigeria’s Gross Domestic Product (GDP) grew by 4.23 per cent on a year-on-year basis in real terms in the second quarter (Q2) of the year. The National Bureau of Statistics (NBS) revealed this in its second-quarter report released on Monday, September 22. The report shows the growth rate is higher than the 3.48 per cent …
A French media group, Canal+, said it has completed the acquisition of MultiChoice, a South African pay-TV operator and owner of DStv and GOtv, with the transaction now unconditional. It announced this in a joint statement on Monday, September 22. The deal, valued at 125 rand per share, secured a 48.2 per cent stake in …
The Centre for the Promotion of Private Enterprise (CPPE) has called on the Central Bank of Nigeria (CBN) Governor, Dr Olayemi Cardoso, to balance price stability with growth, raising concerns over the cash reserve ratio (CRR) and monetary policy rate (MPR) environment. CPPE made the call in a statement on Sunday, September 21, by its …
The possibility that the Central Bank of Nigeria (CBN) will cut the benchmark interest rate seems tempting than maintaining the status quo when its committee meet next week. Its two-day bi-monthly Monetary Policy Committee (MPC) meeting has been scheduled to be held on Monday, September 22 and Tuesday 23. CBN has held the rate unchanged …
The Nigerian stock market traded northward, gaining N822.25 billion in the just-concluded week's trading, despite investors being more cautious of major stocks, including bank shares. The resilience pushed the All-Share Index (ASI) to advance by 0.92 per cent to close at 141,845.35 points. Overall market capitalisation reflected the uptrend, rising by 0.92 per cent to …
