Capital Market
More money for Otedola, Geregu Power investors as company's revenue skyrockets to N112 billion
Geregu Power Plc has generated a revenue of N112 billion from its operations in Nigeria, a double of what it generated in the same period in 2023.
CBN issues new directive to Access, Zenith, other banks on Forex compliance
The Central Bank of Nigeria has instructed banks and all other foreign exchange market participants to provide compliance reports for the FX Code.
Nigerian banks close over 23 million customers' accounts in one month
Nigerian commercial and merchant banks terminated 23.3 million customer accounts in July 2024, according to data from the Nigerian Interbank Settlement System.
Otedola tightens grip on first bank, spends over N16bn to buy more shares
Nigerian billionaire Femi Otedola has strengthened his position as the largest individual shareholder in First Bank of Nigeria Holdings following a new investment.
CBN speaks on safety of Access, Zenith, GTB, other Nigerian banks
The CBN governor, Olayemi Cardoso, has reassured investors and Nigerians of the banking sector's robustness and stability amid economic headwinds.
After buying banks in Tanzania, Uganda, Nigeria's Access Bank gets approval to acquire Kenyan bank
The COMESA Competition Commission has approved the planned acquisition of the National Bank of Kenya (NBK) by a major Nigerian lender, Access Bank.
"Impose appropriate sanctions": CBN threatens to sack bank chairmen, CEOs, gives reason
The CBN has ordered immediate removal of bank CEOs and chairmen who do not release their annual financial statements within 12 months of the year's conclusion.
US court bars Nigerian billionaire from stock trading, imposes $250m fine against him, firms
A US court has slammed a $250 million fine on Nigerian billionaire and his firms with a fine of $250 million for infractions and barred him from trading in stocks,
6 most profitable banks in Nigeria in 2024 posts N979.19 billion profit in 6 months
About six commercial banks in Nigeria have reported a surge in profit of N979.19 billion in the first half of 2024, with Ecobank leading the pack during the period.
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