By Ayomide Otitoju First HoldCo Plc (FirstHoldCo) has announced that its commercial banking subsidiary, First Bank of Nigeria (FirstBank), has successfully met the Central Bank of Nigeria’s (CBN) minimum capital requirement of ₦500 billion. The milestone was achieved through a combination of strategic initiatives, including a Rights Issue, a Private Placement, and proceeds from the…
By Ayomide Otitoju Fidelity Bank Plc has reaffirmed its commitment to inclusive community support with a charitable outreach to Oluyole Cheshire Home in Ibadan, Oyo State, as part of activities marking the festive season. The outreach, carried out under the bank’s Corporate Social Responsibility initiative, the Fidelity Helping Hands Programme (FHHP), saw the donation of…
By Ayomide Otitoju The naira experienced mixed movements in the first week of 2026, posting a marginal recovery from its year-end close but remaining under pressure amid sustained demand for the US dollar. At the Nigerian Foreign Exchange Market (NFEM), the official trading window of the Central Bank of Nigeria (CBN), the naira exchanged at…
By Ayomide Otitoju Tier-one lender Fidelity Bank Plc has announced the completion of the tenure of its Board Chairman, Mr. Mustafa Chike-Obi, effective December 31, 2025, and the appointment of Mrs. Amaka Onwughalu as the new Chairman of the Board, with effect from January 1, 2026. The bank said the board transitions are in line…
By Ayomide Otitoju The annual customer-facing session, themed “The Great Calibration: Mastering Resilience in an Era of Asynchronous Growth,” is designed to set the tone for the year by examining prevailing economic realities and equipping customers with insights to navigate Nigeria’s evolving economic environment. According to the bank, the 2026 edition will review Nigeria’s economic…
By Ayomide Otitoju The private sector arm of the Islamic Development Bank (IsDB) Group has extended a USD 20 million medium-term Islamic finance facility to Applied Plastic Industries Company (API), Jordan’s leading manufacturer of non-woven fabrics. The facility will fund capital expenditures for advanced Spunlace equipment, enabling API to establish a new production line and…
By Ayomide Otitoju The Federal Government has announced plans to deepen Nigeria’s participation in the African Continental Free Trade Area (AfCFTA) in 2026 by working with state governors to identify at least one exportable product from each of the country’s 774 local government areas. The initiative, outlined in the “Nigeria’s AfCFTA Achievements Report 2025” released…
Bulgaria on Thursday officially adopted the euro, becoming the 21st country to join the single-currency zone and marking a major milestone in its integration into the European Union. At midnight (2200 GMT Wednesday), the Balkan nation abandoned the lev—its national currency since the late 19th century—as Bulgarian euro coins were projected onto the central bank…
By Ayomide Otitoju The Nigerian National Petroleum Company Limited (NNPC Ltd.) recorded a profit after tax of ₦502 billion in November 2025, driven by improved gas production, full pipeline availability, and strong trading performance. Figures from the NNPC Monthly Financial and Operations Report for November 2025, released on Wednesday, showed that the national oil company…
