Zenith Bank Plc stated that plans are underway to expand its operations into the East African market, refuting recent media reports that it is in the process of acquiring Paramount Bank in Kenya. It hinted at this in a statement on Tuesday, November 18, by its Company Secretary, Michael Otu. Some media reports suggested that Zenith Bank …
The Managing Director/Chief Executive Officer (CEO) of Coronation Merchant Bank, Paul Abiagam, has said there is growth potential for Africa to unlock if the governments could trust financial institutions with managing the reserves of the nations. He said this at Arise TV’s Global Business Report on Tuesday, November 16, while sharing his thoughts on other …
The Socio-Economic Rights and Accountability Project (SERAP) has issued a seven-day ultimatum to the Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, to account for or explain an alleged N3 trillion missing funds cited in the 2022 annual report of the Auditor-General of the Federation. The group said the report reveals a violation of public …
The Securities and Exchange Commission (SEC) said it is partnering with the Federal Mortgage Bank of Nigeria (FMBN) to develop a robust non-interest mortgage (NIM) ecosystem to tackle the country’s housing deficit. The partnership was unveiled at a high-level meeting in Abuja on Friday, November 14. It seeks to create and regulate viable, Sharia-compliant financing …
Legal expenses incurred by Fidelity Bank Plc surged to ₦30.05 billion in the second quarter (Q2) of this year, compared with ₦701 million the bank incurred in the same period in 2024, representing a 4,187.16 per cent rise. A review of the bank's audited financial statements for the period ended June 30, 2025, released on …
The Association of Issuing Houses of Nigeria (AIHN) said the Central Bank of Nigeria's (CBN) interest rate hikes boosted investors’ demand for fixed-income instruments in 2024. Its President, Kemi Awodein, hinted at this on Thursday, November 13, at the AIHN’s Annual General Meeting and presentation of its 2024 financial statements in Lagos. She noted that the …
The Nigerian capital market will officially transition to a T+2 settlement cycle for equities transactions from Friday, November 28, 2025, to align with global best practices and enhance market efficiency. The Securities and Exchange Commission (SEC) announced this in a statement by its Head of External Relations, Efe Ebelo, on Thursday, November 13. According to …
Wema Bank emerged as the biggest traded stock by volume on Thursday, November 13, as the Nigerian stock market appreciated, with investors pocketing N1 trillion again. The market rebounded on Wednesday after more than a week of bearish momentum. The stock market saw its biggest dip on Tuesday, November 11, when approximately ₦4.65 trillion was …
The Ministry of Finance Incorporated (MOFI) real estate investment fund (MREIF) series 2 has been listed on the Nigerian Exchange Limited (NGX). The listing was commemorated with a closing gong ceremony at the NGX and in attendance was Minister of Finance and Coordinating Minister for the Economy, Wale Edun. In a statement on Tuesday, November …
Bargain-hunting in blue-chip stocks pulled the Nigerian stock market to a rebound as the All-Share Index rose by 2.88 per cent to close at 145,403.83 points on Wednesday, November 12. Similarly, the total market capitalisation of all the listed stocks climbed by 2.88 per cent to ₦92.48 trillion, leaving investors to gain ₦2.59 trillion at …
