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 …
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has revealed plans to launch a microfinance bank and wants the Central Bank of Nigeria (CBN) to grant it an operating licence. Director-General of SMEDAN, Charles Odii, disclosed this during a media parley in Abuja on Wednesday, while unveiling the agency’s five-point agenda for 2026. …
The African Development Bank (AfDB) Group has secured a record $11 billion from 43 partners for its 17th Replenishment (ADF-17). The fund secured by its concessional financing arm, the African Development Fund (ADF), marks the largest funding round in its history despite tight global fiscal conditions and shrinking aid budgets. According to a statement by …
The National Pension Commission (PenCom) has commenced the disbursement of the N758 billion bond approved by the Federal Government to clear outstanding pension liabilities. This move is part of a broader strategy to future-proof the Nigerian pension industry, solidifying its role in national stability and long-term development. PenCom’s 365 Days Scorecard: Achievements and Progress PenCom's …
Amid domestic and global economic uncertainties, FCMB Pensions, a subsidiary of FCMB Group Plc, is targeting a N1.2 trillion growth in Assets Under Management (AUM) by the end of December 2025. This ambitious goal reflects the company’s resilience in navigating financial challenges and its commitment to becoming a major player in Nigeria's pension industry. FCMB …
The majority shareholders of Premier Paints Plc are set to sell a 51 per cent stake to Xenergi Limited. The paint maker announced the ownership change in a statement to the investing public on Tuesday. Premier Paints Plc is a Nigeria‑based paint manufacturer established in 1982 and headquartered in Ifo, Ogun State. It produces decorative, …
Nigerians are demanding lawmakers' action to extend debate on contract staffing in banks to other sectors where the issue is also of critical concern. Their reactions followed a bill seeking to regulate the employment of staff by Nigerian banks, which has passed the second reading at the House of Representatives. They want any attempt by …
The Central Bank of Nigeria (CBN) has revoked the operating licenses of Aso Savings and Loans Plc and Union Homes Savings and Loans Plc for various offences. It disclosed this in a circular issued on Tuesday, December 16, signed by its Acting Director, Corporate Communications Department, Hakama Ali. According to CBN, the move was part …
FCMB Pensions Limited has announced that it has disbursed over N200 billion to Retirement Savings Account (RSA) holders, while its Assets Under Management (AUM) have surpassed the N1 trillion mark. Speaking to journalists on Monday during a sensitisation walk marking the 20th anniversary of the Pension Fund Administrator (PFA), the Managing Director/Chief Executive Officer of …
The Nigerian Exchange Limited (NGX) has approved N15.34 billion of Chapel Hill Denham Management Limited’s Series 11 Nigeria Infrastructure Debt Fund on the domestic market. It made this known in its weekly report released on December 12, 2025. According to the NGX, the fund comprises 140.1 million units of N100.00 each, valued at N109.50 each, …
