By Ayomide Otitoju The Federal High Court in Abuja has ordered the final forfeiture of $7 million recovered from the vault of Providus Bank Limited to the Federal Government of Nigeria. Justice Emeka Nwite delivered the ruling on Monday following an application by the Economic and Financial Crimes Commission (EFCC), which argued that the money…
By Ayomide Otitoju Wema Bank Plc has announced the successful completion of its ₦150 billion Rights Issue, approved by both the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC). The exercise, which ran from April 14 to May 21, 2025, was oversubscribed, lifting the bank’s qualifying capital to ₦214.7 billion —…
By Ayomide Otitoju Sterling Financial Holdings Company Plc (Sterling HoldCo) has released its financial forecasts for the fourth quarter ending December 31, 2025, projecting gross earnings of ₦149.27 billion. The outlook builds on its strong half-year performance, during which profit after tax rose by 157 percent, gross earnings climbed 39.7 percent to ₦212.61 billion, and…
By Ayomide Otitoju Former Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kolo Kyari, has reaffirmed his transparency as the Economic and Financial Crimes Commission (EFCC) intensifies investigations into funds allocated for refinery rehabilitation during his tenure. Kyari, who voluntarily honoured the EFCC’s invitation on Wednesday amid reports he had…
By Ayomide Otitoju Dangote Cement Plc says it has paid shareholders more than N3.3 trillion in dividends over the past 15 years, alongside strong capital appreciation of its stock on the Nigerian Exchange (NGX). The disclosure was made on Wednesday during the company’s “Facts Behind the Figures” presentation at the NGX, led by its new…
By Ayomide Otitoju Every December, Nigeria comes alive with music, theatre, and festivals, and FirstBank has positioned itself at the heart of the celebration through its DecemberIssaVybe (DIAV) campaign. Launched in 2018, the initiative has grown into one of the country’s most anticipated cultural platforms, giving Nigerians access to premium entertainment, supporting the creative industry,…
By Ayomide Otitoju The Nigerian naira extended its rally against the US dollar on Tuesday, sharply narrowing the exchange rate gap between the official and parallel markets. The currency’s performance came as the US dollar index weakened globally, following expectations that the Federal Reserve may cut interest rates after a disappointing US jobs report. In…
By Ayomide Otitoju The Holy Order of the Cherubim and Seraphim Church has celebrated* its centenary with thanksgiving services, seminars, praise nights, and reflections on the legacy of its founder, Saint Moses Orimolade Tunolase. From Lagos to London, clerics and members described the milestone as both a moment of gratitude and a renewed call to…
By Ayomide Otitoju The Association of Distributors and Transporters of Petroleum Products (ADITOP) has accused the Nigerian Union of Petroleum and Natural Gas Workers (NUPENG) of extortion and imposing excessive levies on operators in the downstream oil sector. The allegation follows a vote of no confidence passed on NUPENG’s National President, Comrade (Prince) Williams Akporeha,…
