Access Holdings Plc has revealed plans to raise its paid-up share capital to N27.65 billion from N26.659 billion to meet regulatory compliance before the year-end. The bank is also seeking shareholders' approval to raise an additional N40 billion, or its equivalent in foreign currency, through a private placement. The tier-1 bank announced this in a …
The Nigerian stock market returned to a bearish note on Wednesday, leaving investors with a loss of N444.32 billion at the end of the day’s trading session on the floor of the Nigerian Exchange Limited (NGX). It rebounded on Tuesday, November 25, halting its six-session downturn as investors heaved a sigh of relief with a …
The Central Bank of Nigeria (CBN) has steadily grown the foreign Exchange reserve by $6.7 billion in 11 months, starting from $40 billion in January to the current amount. The current, which is the highest in seven years, is just a few million dollars from the $47 billion recorded on the 3rd of August in …
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, said 16 banks have successfully met the recapitalisation requirements. He hinted at this while briefing newsmen at the 303rd Monetary Policy Committee (MPC) meeting, which concluded on Tuesday, November 25. According to the CBN governor, the Committee noted with satisfaction the sustained resilience of …
The Central Bank of Nigeria (CBN) on Tuesday decided to hold the benchmark interest rate, known as the monetary policy rate (MPR), at 27 per cent to rein in inflation. The apex bank took the decision at its 303rd Monetary Policy Committee (MPC) meeting, which concluded on Tuesday, November 25. Briefing newsmen after the 2-day …
The Securities and Exchange Commission has urged financial sector stakeholders to maintain a culture of compliance to safeguard Nigeria’s position in the global financial system, cautioning that the country's exit from the Financial Action Task Force (FATF) grey list should not be seen as the end of the journey. The SEC Director-General, Emomotimi Agama, gave …
The total assets of Nigeria deposit money banks (DMBs), comprising 29 commercial banks, six merchant banks, and four non-interest banks (NIBs), rose to N160 trillion ($106 billion) at the end of December 2024. The total assets of the DMBs grew by 41.31 per cent to N160.60 trillion at the end of December 2024, from …
Nigeria’s borrowing exposure to the International Development Association (IDA), a member of the World Bank, has risen to $18.5 billion amid worries over the federal government's borrowing spree. The IDA revealed this in its recent unaudited financial statements for the third quarter of 2025. IDA, a development finance institution, offers concessional loans and grants to …
The equities market extended its losses for the fourth straight week, as the All-Share Index (ASI) fell below 145,000 basis points amid persistent selloff pressure on the trading floor of the Nigerian Exchange Limited (NGX). In the week ended November 21, the ASI declined by 2.24 per cent to close at 143,722.62 bps, while the …
Foreign inflow into the Nigerian Exchange Limited (NGX) market declined significantly by 73.13 per cent to N87.45 billion in October 2025, compared to N325.46 billion in September. This was revealed in the monthly Domestic and Foreign Portfolio Investment Report for October 2025 released by the Exchange. A cursory review of the report reveals that, while …
