Business
Fidelity to exit CBN forbearance June 30, 2025
Fidelity Bank Plc has reaffirmed its financial resilience in light of the Central Bank of Nigeria’s (CBN) recent regulatory forbearance measures concerning Single Obligor Limits (SOL) and other credit facilities. In a statement issued on the Nigerian Exchange (NGX) Disclosures Portal, the bank assured stakeholders of its compliance with the…
Read More »FirstHoldCo targets exit from forbearance, SOL breach by 2025
FirstHoldCo Plc has reaffirmed its commitment to regulatory compliance, pledging to resolve all outstanding issues related to the Central Bank of Nigeria’s (CBN) prudential requirements, including breaches of the Single Obligor Limit (SOL) and forbearance on credit facilities. The financial holding company also assured shareholders of its intention to…
Read More »Nigeria inaugurates national tax transition steering committee to accelerate regional tax reform
Nigeria’s officially launched the National Tax Transition Steering Committee (NTTSC), a major institutional lever for driving national tax reforms in line with ECOWAS Directive C/DIR.5/07/23. This directive aims to establish a regional mechanism for monitoring and evaluating the ECOWAS Fiscal Transition Programme (FTP). The ceremony, presided over by Mrs Lydia…
Read More »Nigeria imports N1.19trn crude in Q1 2025 amid local supply challenges
Nigeria imported crude oil worth N1.19 trillion in the first quarter of 2025, making it the country’s third most imported commodity during the period, according to the National Bureau of Statistics (NBS). This revelation comes despite Nigeria being Africa’s largest oil producer—an irony that exposes deep-rooted inefficiencies in the country’s…
Read More »AEDC: Union threaten strike over productivity bonus, others
The Senior staff Association of Electricity and Allied Companies (SSAEAC) has given Abuja Electricity Distribution Company (AEDC) two weeks to the to pay productivity bonus and other outstanding staff benefits or be ready for another round of strike. In a letter addressed to the Acting Managing Director/CEO AEDC, Engr Chijioke Okwuokenye…
Read More »Prolonged litigations on financial matters impede banks’ capacity to support SMEs — CEOs
The Board of Banks’ Chief Executive Officers (CEOs) says that prolonged litigations of financial cases and enforcement bottlenecks impede banks’ capacity to support Small and Medium Enterprises (SMEs). Chairman of the Board, Mr Oliver Alawuba, said this at the 23rd National Seminar on Banking and Allied Matters for Judges…
Read More »Domestic equities sheds N183bn amid banking stock sell-off
The domestic equities market on Tuesday sustained a decline profile, shedding N183 billion as bears continued to dominate the market as sell-off in banking stocks persisted. Market capitalisation of listed equities declined by 0.25 per cent to N72.497 trillion from N72.680 trillion it closed the previous day. The NGX All…
Read More »Union to AEDC: Pay productivity bonus, others to staff or face strike action
The Senior staff Association of Electricity and Allied Companies (SSAEAC) has given Abuja Electricity Distribution Company (AEDC) two weeks to pay productivity bonus and other outstanding staff benefits or be ready for another round of strike. In a letter addressed to the Acting Managing Director/CEO AEDC, Engr Chijioke Okwuokenye on June,…
Read More »SEC working with developers to co-create framework for stablecoins regulations – DG
The Director General, Securities and Exchange Commission, Dr Emomotimi Agama has disclosed that the Commission is engaging with developers to co-create a framework for regulation of stablecoins. Agama who made this disclosure in a keynote speech at the 2025 Decentralised Finance (DeFi) in Lagos, said the Commission is not…
Read More »NPA, APM Terminals, Others Working To Decongest Empty Containers At Ports
The Nigerian Ports’ Authority (NPA) has responded to the public outcry over delays in evacuation of empty containers leading to yard congestion at the APM Terminals, Apapa, Lagos. At a crucial meeting comprising the major shipping lines and the APM Terminals, Apapa to discuss the challenges and chart a way…
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