Author: Ogochukwu Ndubuisi

NCC, REA Sign MoU to Drive Digital Infrastructure Expansion Through Renewable Energy The Nigerian Communications Commission (NCC) and the Rural Electrification Agency (REA) have formalised a strategic partnership to accelerate the deployment of sustainable digital infrastructure across Nigeria through the integration of renewable energy solutions and telecommunications infrastructure. The partnership was sealed with the signing of a Memorandum of Understanding (MoU) at the NCC–REA Stakeholder Workshop held at the NCC Annex Office Auditorium, Mbora, Abuja, on Friday, July 24, 2026. The workshop, themed “Unlocking the Energy–Telecoms Nexus for Scalable Digital Infrastructure in Nigeria,” brought together senior government officials, telecommunications operators,…

S&P Global announced today that it has agreed to acquire a majority stake in Agusto & Co..

H1 2026: FCMB Group Sustains Performance, Reports 99% Growth in Profit Before Tax to ₦157.3 Billion FCMB Group Plc (NGX: FCMB) has announced its unaudited financial results for the half-year ended June 30, 2026, reporting a 99% year-on-year increase in profit before tax to ₦157.3 billion from ₦79.1 billion in the corresponding period of 2025, extending the strong earnings momentum recorded in the 2025 financial year. Highlights of the six-month results released on the Nigerian Exchange Limited (NGX) showed year-on-year profit before tax growth across all four divisions of the Group: Consumer Finance (92%), Banking Group (80%), Investment Banking (76%),…

Recapitalisation Deadline: 70% Insurers Meet Requirements- NIA Chairman The Chairman of the Nigerian Insurers Association (NIA), Mrs Ebelechukwu Nwachukwu, says over 70 per cent of insurance companies have completed the verification exercise ahead of the July 31st recapitalisation deadline. Nwachukwu, who disclosed in an interview with the News Agency of Nigeria on Monday in Abuja, also said that the insurance industry’s recapitalisation exercise had entered its final phase. She said the exercise was introduced by the National Insurance Commission (NAICOM) to strengthen the financial capacity of insurance companies. She added that the exercise had followed a structured implementation framework that…

Linkage Assurance Finalises N16.2bn Rights Issue Linkage Assurance Plc says it has completed its N16.2 billion rights issue undertaken in response to the National Insurance Commission’s (NAICOM) recapitalisation directive for insurance companies operating in Nigeria. The company disclosed this in a corporate disclosure through the Nigerian Exchange Ltd. on Monday in Lagos. It noted that the exercise would strengthen the company’s capital base and position it for business expansion. According to the company, the rights issue involved 12.32 billion ordinary shares offered to existing shareholders at N1.32 per share. The offer opened on March 11, 2026, and closed on April…

The Nigerian Exchange (NGX) All-Share Index (ASI) fell due to sell pressure in mid- and large-cap stocks, including

NGX Group Declares N1.30 Interim Dividend The Nigerian Exchange Group (NGX Group) Plc has announced an interim dividend of N1.30 per ordinary share for the six months ended June 30. The Group, in a statement on Sunday, said that the dividend reflected the strength of its earnings, improved cash generation and the board’s confidence in the sustainability of its growth trajectory. According to the Group, the dividend will also preserve its capacity to continue investing in technology, market development and strategic opportunities across the capital market value chain. NGX Group’s revenue rose by 118 per cent to N17.60 billion in…

Cardoso, Okonjo-Iweala to Headline 7th Africa Emerging Markets Forum in Abuja The Central Bank of Nigeria (CBN) says it is set to host a high-level fireside dialogue between its Governor, Mr Olayemi Cardoso, and the Director-General of the World Trade Organisation (WTO), Dr Ngozi Okonjo-Iweala. According to a statement from the Corporate Communications Department of the apex bank, the dialogue will headline the 7th Africa Emerging Markets Forum (EMF), between July 29 and July 30. It said that the dialogue would be hosted by the CBN in collaboration with the EMF and the Centre for the Study of the Economies…

Nigeria Calls for Stronger African Unity Ahead of Global Telecoms Elections Nigeria has called for greater unity among African nations to advance shared priorities and strengthen the continent’s influence in international decision-making, especially with Africa seeking a stronger voice in shaping the future of global telecommunications and digital innovation. The call was made at the Seventh Ordinary Session of the African Telecommunications Union (ATU) Conference of Plenipotentiaries in Abuja, where policymakers, regulators and industry leaders from across the continent gathered to chart a common course for Africa’s digital future ahead of key international telecommunications engagements. Speaking on behalf of the…

Nigeria May Face Rice, Tomato Scarcity in 3 Months — OTACCWA The President, Organisation for Technology Advancement of Cold Chain in West Africa (OTACCWA), Mr Alexander Isong, says Nigerians may face rice, tomato and staple food shortages within three months. Isong, also the Country Director, Nigeria World Agriculture Forum, gave the warning in an interview with the News Agency of Nigeria on Sunday in Lagos. He said the projected shortages could worsen food inflation and further strain households already struggling with rising food prices across the country. According to him, rice production is projected to decline by six per cent…