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Lagos gov., Sanwo-Olu, others advocate alternative financing as Nigeria’s growth engine at AltBank’s ‘Beyond Interest’ forum
From left): Korede Demola-Adeniyi, Executive Director, The Alternative Bank (AltBank); Babatunde Raji Fashola, former Governor of Lagos State & former Federal Minister of Works and Housing, and Abubakar Suleiman, Non-Executive Director, Sterling Financial Holdings Company Plc at AltBank’s ‘Beyond Interest’…
Strong H1 2026 report firms Sterling Financial among NGX top five gainers
Investors kept faith with the Sterling Financial Holdings Company Plc, Thursday, lifting its shares up by 7% and into the ranks of the Nigerian Exchange (NGX) top gainers, days after the HoldCo unveiled a stronger set of half-year results. Sterling…
CBN places four banks ‘under close regulatory supervision’ over failure to meet March 31 recapitalisation deadline
Central Bank of Nigeria (CBN) says it has placed four commercial banks under ‘close regulatory supervision’ over their failure to meet the March 31, 2026 recapitalisation deadline set for various categories of operators in the country. CBN it would be…
CBN unveils fresh guidelines for BDC operators accessing forex
Central Bank of Nigeria (CBN) has released new operational rules on how licensed Bureau de Change (BDC) operators can acquire foreign exchange from the market. In a circular signed by Aderinola Shonekan, the CBN’s Director of Trade and Exchange Department,…
Forex unification improved market liquidity – CBN Gov., as Nigeria’s external reserves reach $52bn
Nigeria’s external reserves surged to more than $52 billion as of July 15, 2026, according to Central Bank of Nigeria (CBN) Governor, Mr Olayemi Cardoso. According to Mr Cardoso, the country’s net reserves also increased significantly from about $3 billion…
Sterling Bank, StarTimes launch N2bn ‘Solar Financing Hubs’ nationwide to drive renewable energy transition
(From left): Darlington Nwankwo, the Divisional Head, Renewable Energy and Mobility, Sterling Bank; Eric Xiao, Vice President, StarTimes Nigeria, and Kelly Aigbedion, the Head, Renewable Energy, Sterling Bank at the launch of the Sterling Solar Financing Hub in Lagos, recently
PenCom hosts 11.32 m workers as assets jump 51% to $22.8 billion
Participation in the Nigerian contributory pension scheme has risen to significant 11.32 million workers, helping drive asset growth by 51 percent to 31.48 trillion in the last two years. The National Pension Commission (PenCom) declared in Abuja on Tuesday that…
Excess liquidity persists, as banks lodge N4.15trn in deposits with CBN
According to the Central Bank of Nigeria (CBN), the banking sector lodged a total of N4.15 trillion with it through its Standing Deposit Facility (SDF) during the week. According to the bank, the trend further highlights continued excess liquidity in…
NDIC begins verification exercise for depositors of 46 liquidated MFBs
Nigeria Deposit Insurance Corporation (NDIC) says it has formally commenced a nationwide verification exercise for customers of the 46 microfinance banks (MFBs) whose operating licences were revoked by the Central Bank of Nigeria (CBN). According to the NDIC, the verification exercise…
Abia seeks Stanbic IBTC support for proposed Medical City, seaport projects
Abia Government says it is seeking the infrastructure financing support of Stanbic IBTC towards the realisation of major projects in the state, including the proposed Medical City and Obuaku Seaport. According to the state government, while land has been acquired…
