Africa Finance Corporation (AFC) said it acted as co-financial adviser on the successful issuance of the inaugural tranche of bonds under the Federal Government of Nigeria’s Presidential Power Sector Financial Reforms Programme (PPSFRP). The corporation disclosed this in a statement issued on Tuesday, February 3. According to AFC, the first tranche of the bond, valued …
Nigeria processed close to 11 billion electronic payment transactions in 2024, more than double the 5 billion transactions recorded in 2022, according to the Central Bank of Nigeria (CBN). The apex bank disclosed this in its report titled 'Shaping the Future of Fintech in Nigeria: Innovation, Inclusion and Integrity', released on Monday. The report shows …
Access Bank Plc has named Ifeyinwa Osime as its new board chairman. The appointment follows the retirement of Paul Usoro on January 29, 2026, after he completed his regulatory tenure. The bank announced this in a statement on Monday by its company secretary, Sunday Ekwochi. “Access Holdings Plc is pleased to announce that the Board …
Conoil Plc posted a steep drop in profit in 2025 as rising borrowing costs, liquidity pressure, and mounting debt erased gains from a larger asset base. A review of its unaudited financial statement for the year ended December 31, 2025 revealed that the company’s profit before tax plunged by 77 per cent to ₦2.53 billion …
The federal government, states, and local government councils have shared a total of ₦1.969 trillion as revenue from the December 2025 Federation Account. The sharing was done at the January 2026 meeting of the Federation Account Allocation Committee (FAAC) in Abuja, according to a statement on Monday by the Director of Press and Public Relations in …
The National Pension Commission (PenCom) has launched a self-service online data recapture application known as the Data Recapture Self-Service Platform (PENCAP). It unveiled the platform on Sunday, February 1, according to a statement from the Commission. The platform will enable Retirement Savings Account (RSA) holders to remotely update their personal records (recapture) without necessarily visiting …
Oando Plc posted a significantly higher income tax credit of ₦226.1 billion in 2025 from ₦163.7 billion the previous year, amid concerns over the company's weaker operations and financial position. A review of its 2025 audited financial statement released on Sunday, February 1, shows that the tax credit boosted Oando’s profit for the year, despite …
The Chairman of First HoldCo Plc, Femi Otedola, has explained the reason behind the group’s sharp decline of over 90 per cent in its 2025 financial performance. Otedola gave the explanation via his X handle on Saturday, January 31. He hinted that the drop was the result of a deliberate decision to fully recognise legacy …
First HoldCo Plc recorded a sharp decline in profit in 2025, as higher impairment charges and its exit from merchant banking significantly impacted its financial performance. A review of the Group’s unaudited financial statements for the year ended December 31, 2025, shows that profit fell by 93.36% to ₦44.98 billion, compared with ₦677.01 billion recorded …
Wema Bank Plc's non-performing loans (NPLs) dropped to ₦48.20 billion in 2025 from ₦64.99 billion a year earlier. The bank disclosed this in its unaudited financial statements for the year ended December 31, 2025. An analysis of the bank’s loan book shows that its credit-impaired loans, classified as Stage 3 under IFRS 9, fell to …
