Category: Business

Nigerian billionaire businessman, and chairman of First HoldCo Plc, Femi Otedola has disclosed plans to invest $100 million in the Dangote Refinery ahead of the facility’s planned Initial Public Offering (IPO). Otedola made the disclosure after leading top executives of First HoldCo on a tour of the Lekki-based refinery complex owned by Africa’s richest man, Aliko Dangote. According to reports, the investment forms part of the refinery’s planned $2 billion private placement designed to attract strategic investors before the public listing. The businessman reportedly said he had appealed to Dangote…

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First Bank of Nigeria Limited, in partnership with Visa, has announced the launch of Visa Signature, a premium card offering designed for Nigeria’s affluent segment. The card unlocks an exclusive portfolio of lifestyle benefits, global travel privileges, and curated merchant offers through Visa’s worldwide acceptance network, giving high-spending Nigerians a product built around how they live. Visa Signature targets Nigeria’s top executives, business owners, and frequent international travelers who expect more from their financial products. Through Visa Global benefits and Visa Destination offers, cardholders gain access to preferential rates, premium…

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…Group Profit rises 89% in FY2025, 53% in Q1 2026 Sterling Financial Holdings Company Plc (“Sterling Financial” or “the Group”) has announced its audited financial results for the year ended December 31, 2025, alongside its unaudited results for the first quarter ended March 31, 2026, delivering strong earnings growth, balance sheet expansion, and improved capital strength across the Group. According to statement by Group CFO, Sterling Financial Holdings Company PLC, Adebimpe Olambiwonnu, Gross Earnings for FY2025 increased by 44.4% to ₦486.8 billion, representing the strongest performance in the Group’s modern…

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Mrs. Amaka Onwughalu, Chairman of the Board of Directors of Fidelity Bank Plc, has emerged winner in the “Women on Bank Boards” category at the Africa Women in Banking and Finance Conference and Awards (AWBFA 2026). The event, themed “Redefining Women’s Leadership in African Finance”, held at the Lagos Marriott Hotel Ikeja on Friday, 8 May 2026, is a platform established to celebrate women driving leadership and impact across Africa’s financial services ecosystem. It also spotlights professionals whose contributions are often overlooked, while advancing visibility for women shaping banking and…

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Polaris Bank, Nigeria’s leading digital retail and commercial Bank institution, has announced a strategic partnership with Cyclotron Cycling Development Initiatives, otherwise known as Cyclotron Club, to advance LiveWell by Polaris, the Bank’s flagship wellness initiative designed to promote healthy living, preventive healthcare, and overall wellbeing among employees, customers, and communities across Nigeria. The partnership was formally unveiled at a ceremony held at the Bank’s headquarters last Saturday in Lagos, where both organisations launched a co-branded partnership jersey symbolising their shared commitment to fostering healthier lifestyles and supporting cause-driven advocacy through…

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Union Bank of Nigeria has reaffirmed its reputation as a strong supporter of Nigerian businesses, receiving the Best SME Growth Banking Initiatives Award for 2025 from the Association of Small Business Owners of Nigeria (ASBON) at the Nigeria National SME Business Awards, held recently in Lagos. The award was presented to the Bank in recognition of its strategic leadership in advancing the growth and resilience of small and medium-sized enterprises, through a differentiated suite of solutions designed to enable business expansion and long-term value creation. Receiving the award on behalf…

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Fidelity Bank strengthened its liquidity position in the 2025 financial year as cash and cash equivalents rose by 87 percent to N1.32 trillion, reflecting improved cash buffers, stronger deposit mobilisation, and growth in interest-earning assets. The lender’s audited financial statement for the year ended December 31, 2025, showed that cash and cash equivalents increased from N707.45 billion in 2024, underscoring the bank’s stronger liquidity profile amid Nigeria’s tight monetary environment. Restricted balances with the Central Bank of Nigeria (CBN) also increased by 4.1 percent to N1.65 trillion in 2025 from…

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Polaris Bank, Nigeria’s leading digital retail and commercial bank, has been honoured with the Private Sector Champion Award at the 2026 Jobberman Partners’ Convening held at Eko Hotel & Suites, Victoria Island, Lagos, in recognition of the Bank’s outstanding and stellar contributions to youth employment, talent development, and workforce empowerment across Nigeria. The award recognises private sector organisations that have demonstrated exceptional commitment and leadership in advancing youth employability through impactful recruitment initiatives, graduate trainee programmes, executive hiring support, candidate assessment programmes, and strategic partnerships that create sustainable career opportunities…

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The Economic and Financial Crimes Commission has declared former Minister of Humanitarian Affairs and Social Development, Sadiya Umar Farouq, wanted over alleged abuse of office and diversion of public funds. The anti-graft agency made the announcement in a notice published on its official website on Saturday, stating that the former minister is being sought in connection with an ongoing investigation into alleged financial misconduct. According to the notice, Farouq, 52, is an indigene of Zamfara State, with her last known address listed as EN008, Okpo River, off Agulu Street, Maitama,…

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