FINANCING

The Manufacturers Association of Nigeria (MAN) has stated that the floating exchange rate policy implemented by the Central Bank of Nigeria (CBN) has resulted in a steep depreciation of the Naira, which fell from ₦666/$ in mid-2023 to over ₦1700/$ by mid-2024. The President of MAN, Otunmba Francis Meshioye, who stated this at the 2025 MAN Personality of the Year ...

The management of Lekoil Nigeria Limited on Tuesday,expressed the company’s commitment to the sustainable development of Akwa Ibom Statethrough investment in oil and gas operations, employment opportunities and community growth. Lekoil’s top officials, who were led by the company’s Chief Executive Officer, Lekan Akinyanmi, said the commitment towards Akwa Ibom’s development is in recognition of Governor Umo Eno’s administration’s efforts ...

Savannah Energy PLC, the British independent energy company focused around the delivery of Projects that Matter, today provided a trading update on its Nigerian operations and other markets in Africa, including up-to-date cash collections in its Nigerian business. The update shows that its gross production in Nigeria averaged 23.1 Kboepd for FY 2024, broadly in line with the prior year’s ...

THE Central Bank of Nigeria (CBN) says it has sanctioned some Deposit Money Banks (DMBs) for failing to make Naira notes available through automated teller machines (ATMs), during the yuletide season. According to a statement by Hakama Sidi-Ali, CBN’s Director, Corporate Communications Department, this is a clear message of zero tolerance for cash flow disruptions. The affected banks are Fidelity ...

Sterling Financial Holdings Company PLC has achieved another milestone with the approval of the Central Bank of Nigeria (CBN) recognising an additional ₦75 billion in its capital raise. This approval represents the final leg of the capital injection that was achieved through a private placement in September 2024. Building on the private placement’s success, Sterling launched a Rights Issue in ...

………….Positions Banking Subsidiary to Exceed Regulatory Minimum Capital………… Access Holdings Plc (‘the Company’) today announces that it has secured the full regulatory approvals of the Central Bank of Nigeria and the Securities and Exchange Commission of its recently closed Right Issue of 17,772,612,811 Ordinary Shares of 50 Kobo each at N19.75 Kobo per share (‘the Rights Issue’) and has raised ...

Photo L-R: Bolaji Agbede, Acting Group Chief Executive Officer, Access Holdings Plc; Paul Usoro, SAN, Chairman, Access Bank Plc; Frank-Walter Steinmeier, President of Germany; Aigboje Aig-Imoukhuede, Chairman, Access Holdings Plc, and Roosevelt Ogbonna, Managing Director/Chief Executive Officer, Access Bank Plc during the visit of the German president to Access Bank’s headquarters in Lagos… recently. Access Bank Plc last week welcomed the ...

The Senate may set insurance companies on new capitalization as it has passed a new insurance bill that empowers the insurance regulator to determine the capitalisation for insurance companies in the country. When eventually harmonised by the two legislative houses and assented by the president, the new insurance act will replace the current insurance legislation which has been in operation ...

Access Holdings Plc (“Access Holdings”) is pleased to announce that its banking subsidiary, Access Bank Plc (“the Bank”), has entered into a binding agreement with South Africa-based Bidvest Group Limited for the acquisition of a 100% equity stake in Bidvest Bank Limited (“Bidvest Bank”). This agreement reflects the Bank’s commitment to strengthening its footprint in South Africa and consolidating on ...

Access Holdings Plc (“Access Holdings”) today announces that its banking group’s, subsidiary, The Access Bank UK Limited (“the Access UK”) has established its first fully owned subsidiary in Malta, The Access Bank Malta Limited. The banking licence application has been approved by both the European Central Bank (ECB) and the Malta Financial Services Authority (MFSA), signalling a significant step in ...