Transcorp Group Pays Shareholders N20 Billion
Transcorp Group paid N20.3 billion dividends at N2 per share, as chairman Tony Elumelu announces strong 2025 performance and growth plans.
Category : Banking
Beta Glass Plc Posts N37.54bn Revenue in Q1 2026
Beta Glass Plc reported N37.54 billion revenue in Q1 2026, down 8.81% year-on-year, but maintained profitability and strengthened equity to N104.12 billion.
CBN Tightens Bank Governance After Recapitalisation
CBN shifts focus to governance after N4.65 trillion recapitalisation, enforcing stricter board oversight and risk management to ensure funds boost the real economy.
FCMB Offers N5 Million Zero-Interest Loans to Female Entrepreneurs
FCMB launches 2026 SheVentures programme with zero-interest loans up to N5 million for women-owned businesses, plus advisory and capacity-building support.
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Wema Bank Unveils 5for5 Season Five for Digital Growth
Wema Bank launches Season Five of its 5for5 Reward Scheme with over ₦170 million in rewards, targeting youth, women, and mass market segments to promote digital banking adoption.
ACCI Forum Mobilises Non-Interest Funding for Women
The Abuja Chamber of Commerce and Industry held a forum on May 8, 2026, to mobilise non-interest funding for women-owned businesses, addressing financing gaps and promoting inclusive access to finance for female entrepreneurs in Nigeria.
Banks Disrupt Airtime Lending with Cheaper USSD Loans
Nigerian banks now offer cheaper airtime and data loans via USSD after telcos suspended services. GTBank leads with 2.95% interest, reshaping the N400 billion market.
FirstHoldCo Plc Q1 Profit Surges 72.2%, Leads ROE
FirstHoldCo Plc posts 72.2% profit jump in Q1 2026, with PBT hitting N321.12 billion and ROE soaring to 31.6%, driven by balance sheet reset and loan growth.
FirstHoldCo Q1 Profit Surges 72% After 2025 Decline
FirstHoldCo Plc rebounds in Q1 2026 with 72.2% profit rise to N321.1 billion, recovering from 2025's 70.5% slump due to heavy loan impairment charges in oil and gas sector.
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LBIC Gross Earnings Up 41%, Boosts Mortgage Financing
LBIC reports 41% gross earnings growth to N3.56bn, 43% PBT increase to N1.65bn, and plans capital raise of N5bn to expand mortgage financing.
Nigeria Pension Assets Reach N29.5 Trillion
Nigeria's pension assets rose to N29.52 trillion in March 2026, driven by increased investment in government securities and domestic equities, highlighting the growing role of pension funds in the economy.
Kano Recovers N1.8bn Illegal Salary Deductions from Loan Vendors
Kano State sets up committee to recover N1.8bn illegally deducted from civil servants' salaries by private loan vendors, suspends further loan contracts.
NRS Extends Saturday Tax Office Operations for Rev360
Nigeria Revenue Service extends Saturday tax office operations nationwide from May 8 to June 27, 2026, ahead of Rev360 Phase I rollout, to enhance taxpayer support.
Nigerian Banks Spend ₦1 Trillion on Salaries in Talent War
Four major Nigerian banks increased salaries by 27.49% to ₦1.05 trillion in 2025, hiring 12.75% more staff as fintechs lure talent with competitive pay.
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Four Tier-One Banks Earn N14.9 Trillion in One Year
Four Nigerian tier-one banks achieved combined gross earnings of N14.93 trillion in 2025, a 5.4% rise from 2024, despite experts warning of profit pressures from easing interest rates and FX stability.
ASSBIFI Flags Unrealistic Targets as Major Burden for Bankers
ASSBIFI highlights unrealistic targets as a key issue for banking workers, causing pressure, affecting performance, and leading to job losses.
Banks Seize Airtime Loan Market from MTN, Airtel with Cheaper Rates
Nigerian banks like GTBank, FirstBank, and FCMB are taking over the airtime and data lending market from telcos with lower interest rates, reshaping a N400 billion industry.
Mustafa Bello Named Zenith Bank Chairman, Succeeds Jim Ovia
Engr. Mustafa Bello has been appointed Chairman of Zenith Bank Plc, succeeding Jim Ovia, who retired after 12 years. Bello brings vast public and private sector experience.
Bad Loans Crisis: Shareholders and Directors, Not CBN, to Blame
The article argues that the bad loans crisis in Nigeria's banking sector stems from shareholders and directors, not the CBN, emphasizing legal duties and shared governance.
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Zenith Bank Shareholders Get N410.69b Dividend, Bello New Chairman
Zenith Bank shareholders approved N410.69 billion total dividend for 2025. Founder Jim Ovia retired after 12-year tenure, succeeded by Mustafa Bello as Chairman.
Student Buys MTN Shares, Flaunts Dividend, Nigerians React
A 24-year-old civil engineering student, Peter Ogundiran, shared his MTN dividend of N27k on X, sparking reactions from Nigerians who congratulated him on his investment.
SEC to Sanction Firms Without Sustainability Disclosures
SEC warns listed companies without verifiable sustainability disclosures face sanctions, as Nigeria seeks to align with global ESG standards and attract long-term capital.
Moniepoint CEO Laments Talent Decline Among Nigerian Youths
Moniepoint CEO Tosin Eniolorunda says the company struggles to fill 500 vacancies due to a shortage of qualified local talent, citing education and societal issues.
Wema Bank Reaffirms Digital Banking Commitment as ALAT Turns Nine
Wema Bank celebrates ALAT's ninth anniversary, reaffirming its commitment to digital banking with new features, rewards, and customer engagement activities.
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NCC Compensation Policy Wins Praise for Telcos Reward
NCAN praises NCC's policy for automatic compensation to subscribers for poor service, hailing Maida's consumer-focused approach and local monitoring.
Banks Deduct 10% Tax on FX Savings Interest in Nigeria
Nigerian banks now deduct 10% withholding tax on interest from foreign currency savings accounts under the Nigeria Tax Act 2025, affecting dollar, pound, and euro accounts.
Tatum Bank Celebrates First Year with Strong Growth
Tatum Bank celebrates its first anniversary, highlighting strong financial performance, digital innovation, and meeting CBN recapitalisation requirements, with plans for continued growth.
Lagos Retirees Get N1.13 Billion Pension Bond Payouts
Lagos State releases N1.13 billion to 668 retirees under pension reform, reinforcing commitment to prompt benefits and financial security.
Nigeria Hits 185.7m Active Subscribers; Telcos Compensate
Nigeria's active telephone subscribers rose to 185.7 million in March 2026. Meanwhile, NCC enforces compensation for poor service, with Airtel and MTN issuing airtime refunds.
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ICAN Tasks 1,113 New Fellows on Best Practices
ICAN President Dr. Haruna Yahaya urged 1,113 new fellows to prioritize financial integrity and global best practices amid economic uncertainties and technological disruption.
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