Customs releases impounded trucks after CGC’s intervention at bonded terminal
By Godwin Oritse The Nigeria Customs Service (NCS) has released 36 trucks belonging to members of the Association of Maritime Truck Owners (AMATO) that were impounded during an investigation into alleged trade infractions at Zarmmak Bonded Terminal in the Amuwo Odofin area of Lagos. The trucks were detained by Customs Police attached to the Zone ‘A’ […]
H1’25: Fidelity Bank grows gross earnings by 46% to N748.7bn
By Peter Egwuatu Fidelity Bank Plc has recorded a gross earning of N748,7 billion for the half-year ended 30 June 2025, H1’25,representing a 46% growth from N512.9 billion recorded in the same period 2024, HI’24. Highlights of the financial results which was uploaded on the Nigerian Exchange Limited, NGX shows that the bank delivered robust results […]
OPS endorses N20bn container-insurance scheme to scrap deposit fees
By Godwin Oritse The Organised Private Sector (OPS) represented by Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), has welcomed the introduction of a N20 billion collective insurance bond backed by a consortium of insurers to replace the long-standing container deposit system in Nigeria’s maritime trade. The new scheme, designed to protect international […]
Investors await review of CGT as stock market declines 1.7%
By Peter Egwuatu The Nigerian stock market recorded a significant decline Week on Week, WoW following sell off by institutional investors over the new tax reform, which is expected to raise the Capital Gain Tax, CGT from January next year. Expectedly, the market dropped by 1.7 %, with the Nigerian Exchange Limited, NGX All Share Index […]
Manufacturers shun bank loans over high interest rates
Against the backdrop of a high-interest-rate regime, leading manufacturers have scaled down bank borrowings significantly.
Leadway Pensure PFA commits to safeguarding contributors fund, grows AUM to N1.35tr
By Rosemary Iwunze Leadway Pensure PFA, one of the leading Pension Fund Administrators, in the country has grown its Assets under Management (AUM) to N1.35 trillion in the third quarter of 2025, Q3’2025.Committed to safeguarding contributors’ funds, Leadway Pensure also recorded robust returns on its multi-fund structure underpinning its market leadership.Analysis of a three-year compounded […]
Leadway Pensure PFA celebrates 20 years of trust, service, Innovation
By Rosemary Iwunze Leadway Pensure PFA, a Pension Fund Administrator in Nigeria, proudly celebrates its 20th anniversary. This milestone marks two decades of trust, exceptional service delivery and value creation in its mission to protect the financial wellness of Nigerian workers. Over the last 20 years, the PFA has served thousands of customers across Nigeria […]
CBN: FATF grey list exit lifts naira, as reserves cross $43bn
The financial markets have responded positively to the Financial Action Task Force (FATF) removal of Nigeria from its grey list of countries with money laundering and terrorist financing risks. The naira, foreign reserves and investors’ confidence have soared to new heights.
Capital Market: T+2 settlement cycle begins November 28 —SEC
By Obas Esiedesa, Abuja The Securities and Ex change Commission (SEC) has announced that Nigeria’s capital market will officially transition to a T+2 (trade date plus two days) settlement cycle for equities transactions with effect from Friday, November 28, 2025, in a move designed to align with global best practices and enhance market efficiency. Hitherto, […]
NEM, Casava, Axa Mansard, SCIB, shines at 2025 Almond awards
By Rosemary Iwunze The 2025 Almond Insurance Industry Awards tagged ‘Recharged Edition’ has bestowed NEM Insurance Plc winner in the General Insurance Company of the Year Category. The event was held on Friday 7th November, at the Stable Event Center Lagos amidst pomp and pageantry. AXA Mansard clinched Life Insurance Company of the year. Casava […]
Nigeria’s economy expands 11th consecutive month
By Elizabeth Adegbesan Nigeria’s economy expanded for the eleventh consecutive month as Central Bank of Nigeria, CBN, Purchasing Managers’ Index rises to 55.4 index points in October 2025 from 54 index points recorded in the previous month. According to the CBN report, sectors that led the expansion include industry, service and agricultural sectors. The report stated: “The […]
Stakeholders raise alarm over security gaps in nation’s ports
•Demand return of tally clerks, on-board security men By Victor Ahiuma-Young Organised labour and maritime operators have sounded the alarm over growing security and revenue-leakage risks at the nation’s seaports. They say the absence of registered tally clerks and on-board ship gangway security men has left vital port operations exposed to fraud and illicit activity. They […]
Inadequate gas throws Geometric Power into first blackout in 60 days
By Udeme Akpan Geometric Power, Nigeria’s foremost integrated electricity group, has suffered its first blackout in 60 days. The blackout started at 4.33 am, according to Edise Ekong, the Senior Brand and Communication Manager of Aba Power Electricity Company Ltd, the distribution subsidiary of the group. Ekong, in a statement in Aba, attributed the power failure […]
Macroeconomic stability, predictability key to attracting investors — Cardoso
Emma Ujah, Abuja Bureau Chief The Central Bank of Nigeria (CBN) Governor, Mr. Yemi Cardoso, has emphasized that Nigeria does not need to persuade investors to invest if the nation maintains strong macroeconomic fundamentals. Speaking at the bank’s 2025 Executive Seminar, Cardoso said stability and predictability are crucial to attracting capital. “Stability is at the core of […]
NDIC reaffirms 2wks deadline for banks to resolve customers’ complaint
By Omolara Ojugbele, Ayomide Kasali & Olaoluwa Olaleye The Nigeria Deposit Insurance Corporation (NDIC) has reiterated its directive to banks to resolve customers’ complaints within two weeks, warning that unresolved cases after the deadline can be escalated directly to the Corporation for intervention. The move, according to the NDIC, is part of its renewed commitment to […]
Edun pledges review of capital gains tax to boost investor confidence
•As MOFI Real Estate Investment Fund Lists on NGX By Peter Egwuatu The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has assured investors that the Federal Government will revisit provisions on Capital Gains Tax (CGT) in the new tax reform framework to ensure a fair and investor-friendly outcome. Edun made this […]
