Trust Africa News

NiMet Forecasts Thunderstorms Nationwide Amid Mokwa Flood Crisis

By Ayomide Otitoju The Nigerian Meteorological Agency (NiMet) has forecast thunderstorms and rainfall across various parts of the country from Monday through Wednesday, as communities continue to grapple with the devastating flood disaster in Mokwa, Niger State. The floods in Mokwa Local Government Area have claimed 153 lives and destroyed property worth millions of Naira,…

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Asia Manufacturing Slows in May on China Demand, U.S. Tariffs

Asia’s manufacturing sector experienced a slowdown in May as weak demand from China and the ongoing impact of U.S. tariffs—particularly on automobiles—continued to weigh on export-driven economies, according to new data released Monday. A survey conducted by S&P Global and obtained by Reuters showed that Japan and South Korea—two of the region’s largest economies—remained in…

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Fitch Upgrades Fidelity Bank to ‘A+(nga)’ on Strong Performance

By Ayomide Otitoju Global credit rating agency Fitch Ratings has affirmed Fidelity Bank Plc’s Long-Term Issuer Default Rating (IDR) at ‘B’ and upgraded its National Long-Term Rating to ‘A+(nga)’ from ‘A(nga)’, reflecting the bank’s improved capital strength and robust profitability. The upgrade, announced on May 29, 2025, is driven by Fidelity Bank’s recent capital raise…

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FirstBank Disburses N1bn in a Day via Agent Credit

By Ayomide Otitoju In a landmark achievement for financial inclusion in Nigeria, FirstBank has announced the disbursement of N1 billion in a single day through its innovative Firstmonie Agent Credit Scheme. The digital lending initiative, launched in 2020, is designed to empower Firstmonie Point-of-Sale (POS) agents—many of whom operate in underserved and rural communities—by providing…

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