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CBN Tough Crypto Regulation Vindicated by FTX Blow-up

The move by the Central Bank of Nigeria (CBN) to crack down on decentralized digital or Crypto currencies early last year, is being vindicated...

Banks’ N1.0 trillion AMCON Charge Worry Shareholders

Shareholders are worried that the mandatory regulatory levies imposed on banks by the Asset Management Corporation of Nigeria (AMCON) has become a nuisance as...

Nigeria’s Biggest Firms Post N1.71 trillion Profit as Recession Looms

Nigeria's biggest listed firms, members of the NGX-30 index posted N1.71 trillion in cumulative profit, even as analyst warn that a profit recession looms. Eight...

NSIA Employees Salary Rose to N46.6m Per Annum as Efficiency Fell

Employees of the Nigeria Sovereign Investment Authority (NSIA), who manage Nigeria’s sovereign wealth fund (SWF) on average earned N46.6 million ($104,000) per annum in...

Top 10 Nigerian Banks by Profit (Sep 2022)

Zenith Bank Plc, Access Bank Plc, and Guaranty Trust Holding Company (GTCO) are among the top-10 Nigerian Banks by Profit in the third quarter...

Higher Production Cost Dents Manufacturers’ Shares as Profit Slumps

BALA AUGIE Higher production costs caused by foreign exchange scarcity, the war between Russia and Ukraine, rising borrowing costs, and decrepit infrastructure have dented manufacturers’...

Zenith, UBA, Sterling Bank Turn Shareholders’ Investments Into Profit Amid Sell-off

The most capitalised and liquid lenders in Africa’s largest economy are efficient in turning shareholders' profit even amid a free fall in banking stocks. Data...

First Bank Exposed to $1.24bn of Dollar Debt as Naira Slides

First Bank of Nigeria is exposed to $1.24 billion (N543 billion) of dollar denominated debt, as of September, amid a plunge in the Naira,...

Top Nigerian Mortgage Lenders’ Profit Rises on Increased Transaction Volumes

The largest mortgage lenders in Africa’s largest economy are not feeling the pang of rising interest rates yet as an acceleration in transaction volume...

Verod Capitals Verheijen and Auwal Lawal are New Owners of Polaris Bank

The owners of the investment vehicle , Strategic Capital Investment Limited (SCIL), used for the acquisition of Polaris Bank Limited are Danladi Verheijen, Co-Founder/CEO of Verod Capital and Auwal...

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