First Asset Management, a top-tier Nigerian investment manager and subsidiary of First HoldCo Plc, has officially unveiled its N20 billion Series 1 Offer—part of a broader N100 billion FBN Infrastructure Fund Programme aimed at transforming Nigeria’s infrastructure landscape. The Series 1 Fund, which is structured for a 10-year tenor and […]
FINANCE
The Central Bank of Nigeria (CBN) has issued a strong warning to the public, debunking ongoing fraudulent activities by individuals and groups who falsely claim to offer loans, grants, or intervention funds endorsed by the bank. In a statement released on May 12, 2025, and signed by the acting Director […]
The Central Bank of Nigeria (CBN) has levied significant fines on nine Deposit Money Banks (DMBs) for failing to provide Naira notes through automated teller machines (ATMs) during the holiday season. In a statement, the apex bank underscored that this enforcement action aims to uphold its strict policy against cash […]
Nigeria’s inflation rate climbed to 34.80% in December 2024, marking a slight increase of 0.20 percentage points from November’s 34.60%, according to the latest National Bureau of Statistics (NBS) report. The rise, attributed to heightened festive season demand, highlights ongoing economic challenges, including currency depreciation, high energy costs, and supply […]
Africa’s richest man, Aliko Dangote, is working to raise billions of dollars to expand operations at his $20 billion oil refinery near Lagos. The facility, touted as the largest of its kind in the world, is expected to transform Nigeria’s reliance on imported fuel by producing refined petroleum locally. Efforts […]
MultiChoice, the South African pay-TV company, has disclosed a write-off of N31.6 billion (approximately $21 million) in deposits held with Heritage Bank, following the bank’s liquidation in June 2024. The loss was reported in the company’s financial results for the six-month period ending September 30, 2024. The initial deposit, which […]
Access Bank UK Limited has announced the opening of its Hong Kong branch, operating as a restricted license bank. This milestone marks the bank’s entry into the Asia-Pacific market, underscoring its commitment to facilitating trade and financial services between Asia and Africa. With this launch, Access Bank UK Limited becomes […]
Ecobank Transnational Incorporated, the leading independent pan-African financial services group, has announced a strategic partnership with Nium, a global leader in real-time payment infrastructure. This partnership will facilitate faster, more efficient cross-border payments for Ecobank’s 32 million customers across 35 African markets, marking a significant advancement in the region’s financial […]
Zenith Bank Plc has announced a major technology infrastructure upgrade, positioning itself as a leader in the banking industry with a commitment to delivering an exceptional customer experience and top-tier service. This strategic enhancement aims to meet evolving customer needs with speed, security, and efficiency. In a statement shared on […]
Dangote Refinery has announced its petrol pricing structure, stating that it sells at N990 per litre for truck distribution and N960 per litre for sales to ships. This disclosure follows assertions by the Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Petroleum Products Retail Outlets Owners Association of Nigeria […]