Author: Ogochukwu Ndubuisi

Pension Funds Equity Investment Hits N3.96trn in 5 yrs – PenOp The Pension Fund Operators Association of Nigeria (PenOp) says pension fund investment in domestic equities rose to N3.96 trillion as of December 2025. PenOp in a statement on Tuesday, said this reflected sustained growth and increasing confidence in the capital market. According to the association, equity investments increased from N915.31 billion in December 2021 and N908.02 billion in December 2022 to N1.57 trillion in December 2023. PenOp noted that the figure rose further to N2.24 trillion in December 2024 before climbing significantly to N3.96 trillion in 2025. The association…

20 Banks Ready for Recapitalisation, Meet New Minimum Capital Requirements – Cardoso The Central Bank of Nigeria (CBN) says 20 Nigerian Banks have already met the new minimum capital requirement in the ongoing bank recapitalisation exercise. The Governor of the CBN, Mr Yemi Cardoso, made this known on Tuesday in Abuja while presenting the communiqué from the 304th meeting of the apex bank’s Monetary Policy (MPC). In March 2024, CBN announced a major bank recapitalisation programme requiring Nigerian banks to raise higher capital bases within 24 months. This is to make the financial sector stronger, more resilient, and able to…

LIRS Considers Use of AI by Residents to File Tax Returns Lagos State Internal Revenue Service (LIRS) says Artificial Intelligence may soon assist Lagos residents in filing tax returns as part of its ongoing digital reforms. The Executive Chairman of LIRS, Ayodele Subair, said this during a webinar organised by the Fintech Association of Nigeria on Tuesday. The theme of the event was “Fintech in Nigeria 2026: Navigating the New Tax Regime”. Subair said the future of tax administration lay in intelligent automation and technology-driven compliance. “It is a strong possibility that AI agents will assist taxpayers in filing their…

Why We’re Yet to Charge El-Rufai to Court – EFCC The Economic and Financial Crimes Commission (EFCC) has explained why it is yet to charge the former governor of Kaduna State, Malam Nasir El-Rufai, to court after he was interrogated for three days. El-Rufai was held in EFCC’s custody for two nights, from Feb. 16 to Feb. 18, over corruption allegations levelled against him. A source close to the commission told News men that the former governor was still under investigation by the commission, hence he could not be charged to court yet. The source said the commission would not…

Equities investors in the Nigerian market lost N1.14 trillion on Tuesday after the regulator warned investors of unusual price swings and urged caution.

Pan-African lender, United Bank for Africa (UBA) Group, has hinted at the final dividend payment for 2025, as the market awaits the release of its audited financial statements.

China Backs Peace Efforts on Ukraine Crisis China supports all efforts aimed at achieving peace in the Ukraine crisis, a foreign ministry spokesperson said on Tuesday. Speaking at a regular news conference, Foreign Ministry spokesperson, Mao Ning, said that China’s position on the crisis has been consistent and clear. “Recently, a door for dialogue has finally opened in the Ukraine crisis, with all parties maintaining talks,” Mao said. Mao added that dialogue and negotiation remain the only viable path to resolving the issue. She expressed hope that all parties would seize the opportunity to reach a comprehensive, lasting and binding…

LOTUS Bank, REA Partner on N100bn Renewable Energy Financing Push LOTUS Bank, one of Nigeria’s leading ethical, non-interest banking service providers, has partnered with the Rural Electrification Agency to expand renewable energy access in underserved communities, promoting sustainable development and inclusivity. The Managing Director/CEO of LOTUS Bank, Dr Isiaka Ajani-Lawal, said this in a statement on Tuesday in Abuja. According to him, LOTUS Bank signed a Memorandum of Understanding with REA, under which it will provide accessible funding of up to N100bn to empower certified Renewable Energy Service Companies. The managing director reaffirmed the bank’s commitment to inclusive, sustainable development…

Lagos Approves 13% BRT Fare Rise The Lagos State Government has approved a 13 per cent increase in fares across Bus Reform Initiative schemes, covering Bus Rapid Transit (BRT) and standard routes. The Head of Corporate Communication, Lagos Metropolitan Area Transport Authority (LAMATA), Mr Kolawole Ojelabi, disclosed this in a statement issued on Monday. Ojelabi said Gov. Babajide Sanwo-Olu approved the increase after appeals from regulated operators over mounting economic pressures threatening operational sustainability. “The new fare structure will take effect from Monday, March 2,” he said. He explained that the adjustment was aimed at cushioning the impact of sustained…

Alleged N6bn Money Laundering: Mompha Challenges Court Ruling Social media celebrity, Ismaila Mustapha, popularly known as Mompha, on Monday challenged the ruling of an Ikeja Special Offences Court over alleged six billion naira money laundering charges. Mompha is facing trial alongside his company, Ismalob Global Investment Ltd. They are being tried on an eight-count charge bordering on conspiracy to launder unlawfully obtained funds, retention of crime proceeds, and non-disclosure of assets. He was arraigned on Jan. 12, 2022, and is being tried in absentia. When the case was called on Monday, Mompha’s lawyer, Mr Kolawole Salami, informed the court that…