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Nigerian banking sector

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Nigeria fails US fiscal transparency test for second year

Nigeria has failed the US fiscal transparency test for a second straight year, with the State Department citing a vague budget and weak audit oversight.
News

SEC orders operators to freeze ISIS-linked accounts

Nigeria's SEC has ordered capital market operators to freeze assets linked to one Nigerian and three companies the US sanctioned over alleged ISIS financing.
Business

First HoldCo Completes Sale of FBNQuest Merchant Bank

First HoldCo completes its divestment of FBNQuest Merchant Bank as Otedola advances a group-wide restructuring strategy.
News

Banks Shift Idle Cash to CBN’s SDF Window

Banks increasingly place funds at the CBN’s SDF window as tightening conditions curb lending appetite and push treasury teams toward safer overnight placements.
Business

Access Holdings Profit Falls 23 Percent Despite Rise in Earnings

Access Holdings reports higher revenue but a 23 percent profit fall in H1 2025, hit by weaker forex gains and rising impairment charges.
Business

Otedola Raises Stake in First HoldCo by ₦2.01 Billion

Femi Otedola increases stake in First HoldCo by N2.01 billion, strengthening his hold in Nigeria’s oldest financial institution.
News

Stock Deals Surge 44% Amid Banks’ Recapitalization Efforts

Nigerian stock deals jumped 44% due to bank recapitalization efforts, signaling increased investor confidence and optimism in the financial sector’s stability.
News

CBN Bailout Facilitates Unity-Providus Bank Merger

The CBN's bailout has facilitated a merger between Unity Bank and Providus Bank, creating a stronger entity poised to enhance Nigeria's banking sector.
News

Nigerian Banks Embrace CBN Recapitalization with Confidence

The ACAMB has confidently backed the CBN's bank recapitalization plan, ensuring stakeholders that Nigerian banks are secure and poised for robust economic support.
Business

13 Banks to Raise N3.31 Trillion, CBN Sets New Capital Rules

In response to CBN's updated capital requirements, Nigerian banks are tasked with raising N3.31 trillion, aiming to bolster financial resilience and support economic growth.

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News

Nigeria fails US fiscal transparency test for second year

Nigeria has failed the US fiscal transparency test for a second straight year, with the State Department citing a vague budget and weak audit oversight.
News

SEC orders operators to freeze ISIS-linked accounts

Nigeria's SEC has ordered capital market operators to freeze assets linked to one Nigerian and three companies the US sanctioned over alleged ISIS financing.
Sports

Katsina United Deny Dead Player Regained Consciousness

KEY POINTS Ozor died after collapsing during a friendly. Club denies he regained consciousness. ...
News

Wike Closes FCT Housing Committee Office

KEY POINTS Wike closes the old housing secretariat. New division takes over house sales. ...