Rand Merchant Bank Nigeria Limited has announced that it served as the lead issuing house for Stanbic IBTC Holdings PLC’s N148 billion rights issue. In a statement released on Wednesday, RMB highlighted its collaboration with Stanbic IBTC to effectively structure, coordinate, and execute a smooth capital raise, enabling the Group to meet and surpass the…
PalmPay, Africa’s digital banking platform, has announced new strategic partnerships with leading insurance providers to deliver accessible, affordable, and simplified insurance products directly through the PalmPay app. This initiative demonstrates the company’s ongoing commitment to promoting financial inclusion and improving the well-being of everyday Nigerians. Currently, only about 8.9% of Nigerians have any form of…
The Central Bank of Nigeria (CBN) has mandated commercial banks in the country to develop and submit a capital restoration plan. This directive is part of the CBN’s regulatory efforts to facilitate the transition away from the forbearance regime. Olubukola Akinwunmi, the CBN’s Director of Banking Supervision, announced this requirement in a circular released on…
The Nigerian National Petroleum Company Limited (NNPCL) has announced a reduction in the price of premium motor spirit. It was gathered that NNPCL retail outlets in Abuja have decreased their petrol pump price from N945 to N910 per litre. This price change was observed at various NNPCL filling stations, including those in Zone 6, Kubwa…
The naira continued its upward trend against the dollar in the official foreign exchange market on Wednesday, marking its third consecutive day of gains this week. According to data released by the Central Bank of Nigeria, the naira strengthened to N1,526.15 against the dollar on Wednesday, up from N1,529.57 on Tuesday. This represents a daily…
MTN Nigeria has finalized a three-year national roaming agreement with 9Mobile, enabling subscribers of the smaller operator to utilize MTN’s network infrastructure nationwide. This information was disclosed in a notice released on Monday, signed by the company secretary, Uto Ukpanah. The agreement, which has received approval from the Nigerian Communications Commission (NCC), aims to enhance…
The Nigerian economy is estimated to have expanded by approximately 3.7% in the first half of 2025, fueled by improved business conditions and a rise in crude oil production. This information was revealed in a report from the Stanbic IBTC Bank Nigeria Purchasing Managers’ Index (PMI), compiled by S&P Global and released on Tuesday. Muyiwa…
The Institute of Chartered Accountants of Nigeria (ICAN) has praised President Bola Tinubu for signing four tax reform bills that are crucial to Nigeria’s fiscal and revenue framework. Malam Haruna Yahaya, the 61st President of ICAN, expressed this commendation during the investiture of Sani Danbaba as the 5th Chairman of the Gwagwalada and District Society…
Elon Musk’s SpaceX Starlink, a satellite internet provider, has officially resumed customer activations across Nigeria. The company announced this development in an email during the weekend. Starlink is prioritizing high-demand areas, particularly Lagos and Abuja, as it reopens to new customers. “The internet service provider has officially resumed activations nationwide, with Lagos, Abuja, and other…
The Recently experienced a notable appreciation against the dollar in the official foreign exchange market. According to data from the Central Bank of Nigeria, the Naira strengthened to N1,536.08, up from N1,549.26 the previous day, marking a gain of N13.18 against the dollar. This marks the first increase for the Naira in the official exchange…
