Wema Bank’s annual profit more than doubles to N88.83bn
Wema Bank posted a profit after tax of N88.83 billion last year, up from N35.99 billion in 2023. Its customer
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Money
CBN deploys FX code as latest tool to prop up naira
By Joseph Olaoluwa The Central Bank of Nigeria has launched the Nigeria Foreign Exchange Code (FX Code), to ensure stability
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Abbey Mortgage Bank set to rebrand to commercial lender after 30 years
By Joseph Olaoluwa After three decades of operation as Abbey Mortgage Bank, the financial institution is on course to change
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Otedola’s fortune up $500m in one year while Dangote, others see decline
By Mary Adenike Within a year, the fortune of Femi Otedola, chairman of Geregu Power Plc and FBN Holdings Plc,
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FX forward contracts fall 100% as naira firms
There were no foreign exchange forward contracts this week as the naira was little changed against the dollar, data from
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IEI’s annual profit doubles after Norrenberger acquisition
International Energy Insurance Plc (IEI) reported a profit after tax of N1.78 billion for the 2024 financial year, up from
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South Africa overtakes Nigeria in dollar billionaires’ wealth
By Mary Adenike South Africa saw the wealth of its dollar billionaires surpass that of their Nigerian counterparts last year,
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Trump targets ‘massive amounts of foreign money’ to enrich Americans
President Donald Trump is expecting “massive amounts of money” in tariffs and taxes from foreign sources to pour into the
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Nigerians’ appetite for foreign education tempered by pricier dollar
By Mary Adenike Nigerians’ appetite for foreign education has been dampened as the high cost of sourcing dollars pushed up
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Nigeria’s FirstBank in talks to acquire Angola’s fourth-biggest bank Banco Millennium Atlântico
First Bank of Nigeria, the country’s oldest lender, is in talks to acquire Banco Millennium Atlântico (BMA), the fourth largest
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