By Seun Ibiyemi FCMB Group Plc has announced the successful completion of a major capital raise programme undertaken for its banking subsidiary, First City Monument Bank Ltd, as part of efforts to meet new regulatory capital requirements. The group disclosed this in a corporate filing signed by its Group Chief Executive Officer, Ladi Balogun, and…
By Seun Ibiyemi Nigeria’s currency, the naira, recorded a mixed performance across foreign exchange markets in the week ended March 7, 2026, appreciating slightly at the official window while trading relatively stable in the parallel market. At the official market monitored by the Central Bank of Nigeria, the naira closed the week around ₦1,363 per…
By Seun Ibiyemi The Central Bank of Nigeria (CBN) says 30 banks have met the new minimum capital requirements introduced under its banking sector recapitalisation programme as the March 31 deadline approaches. The Acting Director of Corporate Communications at the apex bank, Hakama Sidi-Ali, disclosed this in a statement issued on Friday in Abuja. According…
By Seun Ibiyemi Nigeria’s currency, the Nigerian naira, recorded mixed performance against the United States dollar on Friday as trading closed with slight fluctuations across the official and parallel foreign exchange markets. At the official market, the naira traded around ₦1,385 to the dollar at the Nigerian Foreign Exchange Market, reflecting mild depreciation compared with…
By Seun Ibiyemi The Nigerian naira recorded a mixed performance against the United States dollar on Thursday as the foreign exchange market continued to respond to fluctuating liquidity and sustained demand for foreign currency. At the official window of the Nigerian Foreign Exchange Market (NFEM), the naira weakened slightly, closing at about ₦1,387.45 per dollar,…
By Seun Ibiyemi The Managing Director of Ecobank Nigeria, Mr. Bolaji Lawal, has reaffirmed the bank’s commitment to strengthening Nigeria’s creative economy by providing inclusive platforms that connect artists with markets, investors and global audiences. Lawal made this known at the opening of the third edition of the +234 Art Fair 2026, themed “Inclusivity”, held…
By Seun Ibiyemi Guaranty Trust Holding Company Plc says it remains committed to delivering customer-focused financial solutions while expanding its ecosystem across banking, funds management, pensions, and payments. Head of Group Corporate Communication, Mrs. Oyinade Adegbite disclosed this to journalists on Wednesday in Lagos, emphasizing the bank’s long-standing focus on innovation, excellence, and understanding customer…
By Seun Ibiyemi The Group Managing Director of Zenith Bank Plc, Dr. Adaora Umeoji has called on women to step forward confidently, claim their value, and lead with purpose as the bank prepares to celebrate the 2026 International Women’s Day (IWD). Umeoji made the remarks on Wednesday in Lagos while speaking ahead of the bank’s…
By Seun Ibiyemi The Nigerian naira weakened further on Wednesday, March 4, 2026, as currency trading in both official and parallel foreign exchange markets reflected persistent demand pressures and liquidity stresses. In official mid-week trading at the Nigerian Foreign Exchange Market (NFEM), the naira opened around ₦1,379 per US dollar and fluctuated within a narrow…
By Seun Ibiyemi The Central Bank of Nigeria (CBN) has taken delivery of responsibly sourced gold refined to London Bullion Market Association (LBMA) Good Delivery standards into its foreign reserves, raising its total gold holdings to 3.5 billion dollars in a major push to diversify the nation’s reserve assets. In a statement issued on Wednesday,…
