International ratings agency S&P Global Ratings has upgraded Nigeria’s long-term credit rating to ‘B’ from ‘B-’, citing stronger foreign exchange reserves, reforms in the oil sector, and rising refining capacity. However, the agency warned that growing election-related spending and rising fuel prices could still weaken the country’s fragile economic gains. In its latest sovereign rating …
The Centre for the Promotion of Private Enterprise (CPPE) has warned against further monetary tightening by the Central Bank of Nigeria (CBN), saying Nigeria’s inflation challenge is being driven largely by structural and supply-side factors that higher interest rates alone cannot solve. The CPPE Chief Executive Officer, Dr Muda Yusuf, who is a renowned economist, …
The Securities and Exchange Commission (SEC) has warned the public against investing in illegal online schemes widely promoted on social media, stating that many of them exhibit signs of Ponzi and other prohibited investment operations. In a public notice issued on Thursday, the Commission said it had observed “the increasing promotion of unregistered online investment …
The Debt Management Office (DMO) has listed a ₦47.355 billion Series III Sovereign Green Bond on the Nigerian Exchange Limited (NGX) and the FMDQ Securities Exchange Limited, in a move aimed at expanding climate-focused financing in the country. The bond, which carries an 18.95 per cent interest rate and is due in June 2030, was …
The Federal Government plans to raise ₦600 billion through a fresh bond auction, as it seeks to finance government operations and manage public debt. The Debt Management Office (DMO) announced the offer in a circular released on Wednesday, May 13. It stated that on behalf of the Federal Government of Nigeria (FGN), it is offering …
The Securities and Exchange Commission (SEC) has unveiled an ambitious push to anchor Nigeria’s capital market on data, artificial intelligence and technology-driven regulation, saying the shift is critical to attracting domestic and foreign investment. The Director-General of SEC, Emomotimi Agama, disclosed this on Wednesday at the FSDH Investor Conference 2026 in Lagos, where he outlined …
Dangote Cement Plc has said it is considering a potential secondary listing on the London Stock Exchange (LSE) as part of efforts to deepen its access to international capital markets. The company disclosed the development in a statement to the investing public on Wednesday, signed by its Company Secretary, Edward Imoedemhe, following an emergency board …
First HoldCo Plc, the parent company of First Bank of Nigeria, said it is seeking shareholders’ approval to raise ₦253.099 billion in fresh equity capital. The move is aimed at strengthening its balance sheet and approaching a ₦1 trillion paid-up capital base, which the bank earlier sought. The group made the proposal in a notice …
The Africa Financial Summit (AFIS) will hold its 2026 edition on November 3 and 4 in Luanda, Angola, marking the first time the leading African finance platform will take place in Southern Africa and in a Lusophone country. The organisers announced the decision in a statement on Monday to Pinnacle Daily, saying the move reinforces …
Fidelity Bank Plc has reported a drop in profit for the 2025 financial year, with earnings falling to ₦242.44 billion, down from ₦278.11 billion in 2024, as a large derivative loss and rising costs pressured performance. In the bank's audited results released on Monday, May 11, Fidelity Bank stated that its performance was majorly affected …
