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 …
The Central Bank of Nigeria (CBN) stated that it has not granted an operating licence to Zuldal Microfinance Bank to conduct any business activities, describing the bank as an unlicensed entity operating illegally in the country. The apex bank made this known in a statement on Thursday, November 20, signed by its Acting Director of …
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 …
