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Nigerian banking sector

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Dangote picks power over steel with a $10 billion bet on Africa’s grid

Aliko Dangote says his group will invest more than $10 billion in electricity across Africa within four years, possibly cancelling its steel ambitions to fund it.
News

CNG rollout: States race to cut transport fares before Oct. 1 as queues and N1 million conversion costs bite

Nigerian states are racing to cut transport fares through CNG before Oct. 1, but long queues and conversion costs of up to N1 million are slowing operators.
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.
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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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Dangote picks power over steel with a $10 billion bet on Africa’s grid

Aliko Dangote says his group will invest more than $10 billion in electricity across Africa within four years, possibly cancelling its steel ambitions to fund it.
News

CNG rollout: States race to cut transport fares before Oct. 1 as queues and N1 million conversion costs bite

Nigerian states are racing to cut transport fares through CNG before Oct. 1, but long queues and conversion costs of up to N1 million are slowing operators.
News

Nigeria flood alert: 8,000 communities and 4,500 schools in 15 states at risk this week

Nigeria's hydrological agency warns that more than 8,000 communities and 4,500 schools across 15 states face flooding between Sept. 19 and 25 as rivers rise.
News

Cross River police arrest vigilante over $5,000 robbery and shooting

Cross River police have arrested a vigilante member accused of shooting a villager in Etung and robbing him of $5,000; a locally made pistol was recovered.