Lagos, Nigeria | September 18, 2025 Zenith Bank Plc has reported a pre-tax profit of ₦625.63 billion for the half-year ended June 30, 2025, representing a 13.95% decline year-on-year compared to the ₦726.95 billion posted in the same period of 2024. The bank’s post-tax profit also dipped by 7.93%, closing at ₦532.18 billion against ₦577.84
Lagos, Nigeria | September 18, 2025 United Bank for Africa (UBA) Plc has reported a pre-tax profit of ₦388.4 billion for the half-year ended June 30, 2025, representing a 3.3% drop from the ₦401.5 billion recorded in the same period of 2024. Despite the marginal decline, the bank maintained a strong earnings performance, buoyed by
Lagos, Nigeria | September 17, 2025 The naira continued its upward push on Tuesday, strengthening further at the official market as analysts projected the currency could test the ₦1,440/$ level in the coming days. Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed the naira closing at ₦1,484 per dollar, building on a recent
Lagos, Nigeria When Mariam Ogundairo urgently needed N30,000 (about $20), she downloaded a loan app that promised instant cash. Within minutes, the money landed in her account, alongside a 21.6 percent interest rate due in two weeks. Unable to repay on time, Ogundairo soon faced the nightmare many Nigerians now associate with digital lenders. The
Abuja, Nigeria — August 13, 2025 | The Federal Executive Council (FEC) has approved a $125 million financing package from the Islamic Development Bank (IsDB) to fund major road construction and rehabilitation projects in Abia State. The facility will cover 35 kilometres of roads in Umuahia, the state capital, and 126 kilometres in Aba, the
ACCRA, GHANA The African continent has the potential to unlock an estimated $133 billion in annual economic value if it decisively tackles the existing $80 billion trade finance gap stifling cross-border commerce and industrial growth. This was the bold assertion made by the Chief Executive Officer of Ghana International Bank (GHIB), Mr. Dean Adansi, during
August 3, 2025 — Nigerian telecom giants, MTN and Airtel, raked in a combined total of ₦2.53 trillion from subscribers on voice and data services within the first half of 2025, reflecting the deepening reliance on mobile connectivity across the country. Financial reports released by both companies indicate that MTN Nigeria generated ₦1.79 trillion in
In a renewed push towards enhancing financial transparency and global best practices in public sector accounting, the Lagos State Government has commenced an intensive capacity-building programme for its finance and audit personnel. The training, organized by the Ministry of Establishments and Training, is targeted at equipping Accounts, Finance, and Audit Officers across Ministries, Departments, and
Abuja, July 25, 2025 – TAJ Bank has suffered a fresh system error resulting in the wrongful transfer of ₦957 million and has now withdrawn its earlier legal suit filed to recover the funds from 26 commercial banks and financial technology companies. The new financial glitch, which occurred amid ongoing efforts to resolve earlier reversals,
News Report – July 23, 2025 At least eleven commercial banks in Nigeria have exceeded the regulatory threshold of five percent for non-performing loans (NPLs), following an industry-wide reclassification of risk assets in April 2025. The Central Bank of Nigeria’s (CBN) guidelines stipulate that lenders must maintain NPL ratios below 5% to ensure financial system
