Author: Olu Anisere

Elombi Unveils Afreximbank’s 5-Year Trade Strategy Dr George Elombi, the new President of the African Export-Import Bank (Afreximbank), has unveiled a five-year strategy to transform Africa’s trade structure and deepen integration. He unveiled the plan during his investiture as Afreximbank’s fourth president at the Legacy Conference and Investiture in Cairo, Egypt, on Saturday. The ceremony, with the theme ‘Decades of Impact as Building Blocks for a Prosperous Future,’ marked the beginning of a new era for the continental bank. Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, administered the oath of office to Elombi during…

Inflation Spikes in UK, US Amidst Rates Cut Expectations Rates cut talks across the market deepened as the UK and the US reported a surge in the consumer price index that measures headline inflation.  To boost GDP growth, markets anticipate the Federal Reserve to cut rates at least twice in 2025, amidst diverging views in Bank of England policy direction. The U.S. Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) rose 3.00% YoY in September 2025 from 2.90% in August, reinforcing the persistence of price pressures across key consumer segments. On a monthly basis, the CPI…

Ikeja Hotel Grows Profit by 285%, Announces Interim Dividend In the nine months of financial year 2025, Ikeja Hotel Plc delivered a robust earnings performance despite steep rivalry in the highly competitive hospitality business in Nigeria.   The hotelier grew its net profit by more than 285% to N4.851 billion, details from its nine months financials submitted on the Nigerian Exchange (NGX) revealed. The hospitality company doubled down on its earnings amidst growing rivalry in the sector, supported by increasing occupancy rate.   Its revenue for the period surged by 47% year on year to N18.516 billion from N12.598 billion…

Stanbic IBTC Grows Profit by 52% to N278.476 Billion Stanbic IBTC Holdings Plc delivered a 52% surge in profitability in the nine months of financial year 2025, details from its financial statement submitted to the Nigerian Exchange revealed. The diversified financial services group’s total income for the first nine months surged to N655.164 billion, up by 40.63% year on year from N465.861 billion in the equivalent period in 2024. Reflecting Nigeria’s high interest rate environment, the group’s net interest income printed at N454.588 billion, a sharp increase of 80.5% from N251.850 billion in the comparable period in 2024.   Trading…

Guinness Nigeria Delivers 161% YTD Gain, Returns to Profitability Equity investors’ reaction to Guinness Nigeria’s earnings release was flattish, with the record showing the brewer company has delivered a 161% year-to-date return on investment this year. This means that every N1 million investment in the brewer stock has turned to N2.61 million as Guinness Nigeria share price trades near a 52-week high in the Nigerian Exchange. In its audited financial statement for 9 months of financial year 2025, Guinness Nigeria Plc reported a profit after tax of ₦6.7 billion, marking a significant recovery from the ₦61.6 billion loss posted in…

FATF Removes Nigeria from Global Financial Crime Watch List UPDATE: The Financial Action Task Force (FATF) has delisted Nigeria from its greylist of countries with deficiencies in anti-money laundering and counter-terrorist financing frameworks. The global finance watchdog announced the decision at the end of a plenary meeting on Friday. South Africa, Mozambique, and Burkina Faso were among the four African countries removed from the list. The FATF said the countries’ governments stepped up efforts to combat money laundering and terrorist financing. The FATF said Nigeria had stronger inter-agency coordination, South Africa had sharpened tools to detect money laundering and terrorist…

NLNG, NCDMB launch ICT Hub to Boost Tech Skills in Nigeria Nigeria LNG and the Nigerian Content Development and Monitoring Board (NCDMB) have inaugurated an ultra-modern, specialised Information and Communication Technology (ICT) centre in Port Harcourt, Rivers for youth empowerment in innovations. The fully equipped ICT centre, located at Baptist High School in the city, was inaugurated as part of the close-out ceremony for the Human Capital Development Basic Training Programme. Mr Felix Ogbe, Executive Secretary, NCDMB made the remark in a statement issued on Friday by Mrs Anne-Marie Palmer-Ikuku, Manager of Corporate Communication and Public Affairs at NLNG in…

Euro Hovers at $1.16 as France Drags Eurozone PMI The euro hovered around $1.16 as investors digested flash Eurozone purchasing manager index data and awaited delayed US inflation figures due later Friday. Eurozone business activity accelerated in October, with the PMI Composite rising to a 17-month high of 52.2 from 51.2, signaling the strongest expansion since mid-2024. The pickup was driven by services, where the PMI Services index jumped from 51.3 to 52.6, a 14-month high, while manufacturing finally edged up to the neutral 50.0 mark after months of contraction. However, the upturn remains uneven across major economies. Cyrus de…

Airtel Africa Price Unchanged, Telco Repurchases Own Shares Airtel Africa Plc’s market value remained unchanged in the Nigerian Exchange (NGX) as the telecom company continues to repurchase its own shares from the London Stock Exchange (LSE) trading platform. The telco stock miss in action in the Nigerian market due to tight, and perhaps small shareholding after its successfully buyback its shares in the local bourse. For months, the telecom company share price has rested at N2310.50. Airtel Africa has low trading volue on its 3.758 billion shares outstanding in the Nigerian market. Airtel Africa Plc announced the purchase of 25,000…

IOM, BOA Sign $200m Pact to Support Migrants, Displaced Nigerians The International Organisation for Migration (IOM) and the Bank of Agriculture Ltd. (BOA) of Nigeria have signed an agreement to strengthen access to sustainable livelihoods for migrants and displaced persons across Nigeria. In a statement on Thursday, IOM said the Memorandum of Understanding (MoU) is focused on addressing displacement, food insecurity and rural poverty. IOM also said that the MoU would also focus on empowering vulnerable populations to lead their own recovery through sustainable livelihood support. The signing of the MoU comes at a time when Nigeria is intensifying efforts…