Bank of America (BofA) has raised its return target as part of a new strategy to close the gap with Wall Street leaders. CEO Brian Moynihan announced the plan at the bank’s first investor day since 2011, signalling a renewed push to improve performance and capture more market share. BofA now aims to deliver a …
Director-General of the Securities and Exchange Commission (SEC), Emomotimi Agama, has said that Nigeria’s non-interest capital market valuation of over ₦1.6 trillion is clear evidence of an enabling regulatory environment. Agama said this at the 7th African International Conference on Islamic Finance (AICIF) 2025 in Lagos, which was held on November 4 and 5. He …
The Nigerian stock market started the week on a bearish note as the All-Share Index (ASI) declined by 0.25 per cent to close at 153,739.65 amid concerns about United States President Donald Trump's threat of military action on Nigeria over alleged Christian genocide. Pinnacle Daily reported that Trump had asked the country’s Defence Department to …
Reaching a 55.88 per cent year-to-date return at the close of trading on Friday, October 31, total stock market capitalisation rose to N97.83 trillion, leaving investors with a N7.25 trillion gain in one month on the Nigerian Exchange Limited (NGX). This is one of the largest single-month gains in recent times that the stock market …
First Bank of Nigeria Limited said it has successfully redeemed its $350 million Eurobond, reaffirming its liquidity and financial stability. The parent company, First HoldCo Plc, disclosed this in a statement on Wednesday, October 29. It noted that the Eurobond, issued in October 2020, matured on October 27, 2025. It also noted that the Eurobond …
VFD Group Plc has posted a 61.4 per cent growth in profit before tax to ₦7.99 billion in the nine months of the year from ₦4.95 billion in the same period of the previous year. It reported this in its interim financial statements for the period ended September 30, 2025, released on Wednesday, October 29. …
The Securities and Exchange Commission (SEC) has expressed optimism that Nigeria’s removal from the Financial Action Task Force (FATF) grey list will boost investors' confidence in the capital market. SEC's Director General, Emomotimi Agama, stated this on Channels Television’s Morning Brief on Monday, October 27. He described the country’s exit from the global watchlist as a …
Africa’s leading listed conglomerate, Transnational Corporation Plc, has reported a 39 per cent increase in revenue to ₦413.4 billion in the third quarter (Q3) of this year. This is contained in the Transcorp Group's unaudited Q3 2025 financial results released to the investing public on Monday, October 27. A review of the results shows that …
Gold’s rally shows no sign of slowing down as analysts predict the precious metal will hit record levels next year. Data shows 39 analysts and traders forecast an average gold price of $4,275 per ounce in 2026, the first time projections have crossed the $4,000 mark. For 2025, analysts expect prices to average $3,400 per …
The African Export-Import Bank (Afreximbank) has marked the end of the tenure of its outgoing President and Chairman of the Board of Directors, Prof. Benedict Okey Oramah, with a legacy conference. The farewell conference held in Cairo, Egypt, was attended by more than 2,000 guests, according to a statement on Sunday, October 26, by Afreximbank. …
