Fidelity Bank Plc said it has met the ₦500 billion capital requirement for an internationally licensed bank and is now awaiting approval from the Central Bank of Nigeria (CBN). The bank made this known in a statement on Tuesday, January 6, signed by its Company Secretary, Ezinwa Unuigboje. It hinted that following approvals from the …
The Chairman of First HoldCo Plc, Femi Otedola, has called on the Central Bank of Nigeria (CBN) to increase the minimum capital threshold for international banks to ₦1 trillion. The billionaire businessman and serial investor made the call in a statement on Friday. He believes that Nigeria’s ambition to build a $1 trillion economy by …
The Nigerian stock market kicks off the year in the green on Friday, January 2, with ₦561.55 billion gained by investors. The positive momentum maintained on the floor of the Nigerian Exchange Limited (NGX) saw the market capitalisation rise to ₦99.94 trillion from ₦99.38 trillion, as the market ended on Wednesday, December 24, 2025. Similarly, …
Fidelity Bank Plc has appointed Amaka Onwughalu as non-executive director and chairman of its board, following the completion of Mustafa Chike-Obi’s tenure. The bank announced this to the investing public on Friday, January 2, noting that Chike-Obi's tenure ended on December 31, 2025. "The Board has approved the retirement, which is in accordance with the …
At the close of trading on Monday, December 29, the Nigerian stock market’s All-Share Index (ASI) rebounded to a 50 per cent year-to-date return. It marked its first recovery to that level since October 28, 2025. The upward trajectory saw the ASI rise by 0.55 per cent to close at 154,389.53 points. Similarly, the market …
Borrowings by states and local governments from commercial banks fell to ₦2.13 trillion in June 2025, down from ₦2.68 trillion a year earlier. This represents a reduction of about ₦547.5 billion, or 20.4 per cent, in the review period. In a report on Monday, the CSL research firm said the trend reflects a deliberate effort …
The Central Bank of Nigeria (CBN) has unveiled significant updates to its cash management policies, effective January 1, 2026. These changes are part of the bank's ongoing efforts to improve cash handling, enhance security, and promote the wider adoption of electronic payment methods for greater convenience and safety. These revisions, aimed at streamlining cash operations …
Zenith Bank has reported an impairment charge of ₦781.5 billion on its financial assets for the nine-month period ending September 2025, accounting for 39.3% of its projected pre-provision operating profit for the full year 2024. A large portion of this impairment—98.5%—relates to loan impairments, including significant write-offs, which have further weighed on the bank’s loan …
First Holdco Plc, the parent company of First Bank of Nigeria and other financial brands, has reported its financial performance for the nine months ended September 2025. Despite a significant 71.70% rise in net interest income, the company faced a 12.96% decline in profit after tax (PAT). In this period, gross earnings increased by 17.07% …
The Chairman of First HoldCo Plc, Femi Otedola, has acquired additional shares, valued at ₦14.8 billion, in the financial holding company. The holding company announced this in a notice late Thursday, signed by the Company Secretary, Abiola Baruwa. According to the notice filed with the Nigerian Exchange Limited (NGX), the shares were purchased through Calvados …
