Search

The MoU aims to expand long-term financing and risk-sharing for affordable housing across Africa.

AVA Capital reported strong nine-month results with growth in client funds and profitability.

Guinness Nigeria reported strong Q3 growth with revenue up 20.4% and PAT rising 53.1% to N40.69bn.

Abbey Bank transitions from mortgage bank to full commercial bank with approval from the CBN.

Large OMO maturities are set to hit the system as liquidity remains elevated and CBN manages absorption.

Firms raised N1.3trn via commercial paper in 9M 2026 as banks tighten and rates stay high.

Insurance revenue rose 3.71 per cent while service expenses fell 22.79 per cent, the company still used N416.82 million of operating cash, and free float narrowed to 12.78 per cent as two shareholders lifted their combined stake to 87.21 per cent.

The Finance Ministry says the World Bank's finding that debt interest reached 124% of federal revenue in H1 2026 excludes unremitted agency revenue and counts state loans, arguing the full-year ratio fell below 60% in 2025.

The Nigerian Insurers Association says the industry's N1.079 trillion recapitalisation must deliver faster claims settlement, stronger underwriting and wider penetration, warning that capital without service improvement has limited value.

Two clean energy companies presented a framework to the Department of Climate Change for capturing flared gas to make hydrogen and power, a plan that quotes back the government own $3 billion annual ambition and depends on a registry, a fund and permissions that do not yet exist.

Governor Cardoso told the IMF and World Bank meetings in Bangkok that domestic investors supplied slightly more than 20 per cent of the N4.65 trillion bank recapitalisation, contradicting the Central Bank and Securities and Exchange Commission statements of April that put the domestic share at 72.55 per cent.

Net asset value of pooled investment schemes rose N43.76 billion to N9.885 trillion in the week to October 9, with money market funds holding 67.96 per cent of assets and dollar funds shrinking even as the naira firmed, a signal that the pool is growing as savings rather than as investment.

PICTT and YAPU Solutions proposed a classification and financing framework for adaptation lending, with experts calling for public guarantee envelopes, regional risk instruments and coverage beyond crops.

The bank announced an N20 billion facility for private healthcare providers, with eye-care businesses a named priority, at an Abuja roundtable where the minister of state for health pushed blended finance and impact bonds.

The technology incubation board disclosed a pipeline of more than $600 million at the NextGen Innovation Challenge, led by a proposed $500 million solar partnership with Gigawatt Global and a $100 million financing MoU with Cambridge Investors.

Ecobank Group's memorandum with China's CIPS aims to strengthen renminbi payment connectivity between China and Africa, though operational rollout details remain undisclosed.

The Islamic Development Bank and IFAD signed a cooperation agreement to mobilise up to 50 million for agribusiness value chains, rural SMEs, market access and climate adaptation across their shared African membership.

The Africa Finance Corporation has appointed CBN Governor Olayemi Cardoso as Chairman of its Board of Directors, linking Nigeria's monetary leadership to a pan-African infrastructure financing platform.

Nigerian banks increased lending to traders in the first half of 2026 while manufacturing saw a sharp drop in outstanding credit, according to a Nairametrics Research analysis of Central Bank sectoral data.

Coronation Merchant Bank has been named Nigeria's Best Sales and Trading Team at the Euromoney Markets Awards 2026, recognising its client franchise and execution across fixed income, currencies and equities.

Cross-border payment infrastructure is moving from a fintech convenience to a core layer of African trade and investment, with new analysis arguing that cheaper, faster settlement is central to unlocking the continent's growth potential.

EIB Global and FCMB have committed €85 million in financing to support companies across Nigeria's agricultural value chains, targeting production, processing and distribution businesses that struggle to access long-term capital.

Growtech West Africa has announced a collaboration with Nigeria's National Agricultural Development Fund ahead of its inaugural Lagos exhibition, aiming to connect agribusinesses with technology, finance and international expertise.

Finance Minister Taiwo Oyedele says the "Nigeria Rising" framing of the country's reform programme is changing international perceptions of the economy as fiscal, tax and monetary adjustments begin to show results.

Banks are holding more than N6 trillion in deposits at the Central Bank of Nigeria after a N2.4 trillion Open Market Operation repayment injected a surge of liquidity into the banking system.

Fidelity Bank has raised over N500 billion in new capital as Nigerian lenders race to meet the Central Bank of Nigeria's recapitalisation thresholds ahead of regulatory deadlines.

Nigerian banks reduced credit to the manufacturing sector by 26.8 per cent in the second quarter of 2026, according to Central Bank data, with outstanding loans falling to N5.19 trillion as high rates and risk pricing constrained disbursement.

Sunbeth Capital is mobilising about N150 billion through commercial paper issuances to fund operations across Nigeria's cocoa value chain, targeting aggregation, processing support and export readiness.

The Central Bank of Kenya has signed a memorandum of understanding with the Toronto Centre for Financial Supervision, signed in Bangkok on the sidelines of the IMF and World Bank annual meetings, to strengthen supervisory training.

Kenya's Court of Appeal has decided to fast-track the challenge to the nullified Sh204.3 billion sale of government Safaricom shares to Vodacom, preserving the status quo while about $1.557 billion in foreign exchange inflows hangs in the balance.

Fitch Ratings has moved nine Nigerian banks and two bank holding companies to Positive outlook from Stable while affirming their long-term issuer default ratings at B, following its October 9 revision of Nigeria's sovereign outlook.

Renaissance Africa Energy, operator of Shell's former onshore business, has relaunched its vendor financing scheme with 13 banks, offering a subscribed portfolio of $4.1 billion and N435 billion to indigenous oil and gas contractors.

Central Bank Governor Olayemi Cardoso has met People's Bank of China chief Pan Gongsheng in Bangkok and plans a Beijing visit to advance cross-border payments, settlement arrangements, financial technology and trade finance between both countries.

At Carbon Markets Africa Summit 2026 in Kigali, policymakers and financiers from 45 countries called for high-integrity, investable carbon projects as Africa shifts from readiness rhetoric to issuance and offtake.

Ecobank Nigeria has cut interest rates on its SuperSavers product effective October 16, with reductions of up to 3.18 percentage points across four deposit tiers after the CBN's MPR reset to 23%.

The Bank of Uganda raised its central bank rate by 225 basis points to 12% at an emergency meeting, citing oil prices, shilling depreciation and offshore selling of government bonds.

United Nigeria Airlines is raising N20 billion through its inaugural commercial paper issuance, the first by a domestic Nigerian airline, under a N100 billion programme arranged by Meristem Capital.

Finance Minister Taiwo Oyedele says there will be no return to fuel subsidies or multiple exchange rates, as Nigeria targets 7% growth above the IMF's 4.3% projection for 2027.

MeCure Industries has opened a Series 8 commercial paper offer of up to ₦14 billion under its ₦40 billion programme, priced at a 21% gross implied yield as the drugmaker funds working capital ahead of expanding production investment.

The National Bank of Ethiopia and PAPSS announced Ethiopia's entry into the continental payments network, enabling local banks to settle cross-border transactions in African currencies without routing through dollar or euro corridors.

EIB Global and First City Monument Bank unveiled an €85 million facility for Nigerian agricultural value chains, with at least 70% earmarked for cocoa and dairy.

A report by British International Investment and Swedfund estimates a $209 billion financing gap facing Black-owned and Black-led businesses across five sub-Saharan African markets, with Nigeria alone accounting for $131 billion of the shortfall.

Gabon sold $580 million in eight-year Eurobonds at a 9.375% coupon, attracting an order book of nearly $1 billion and a risk premium about 50 basis points below its July sale, even as the oil-dependent state remains heavily indebted.

The Federation Account Allocation Committee distributed N2.428 trillion to the Federal Government, states and local councils from N3.913 trillion gross revenue for September 2026, with Value Added Tax emerging as the states' single largest allocation source.

The Debt Management Office reported that the Federal Government spent N5.28 trillion servicing domestic debt between January and June 2026, with interest and rentals accounting for N4.95 trillion, spotlighting the cost of a borrowing strategy weighted towards short-dated securities.

Kenya has cleared 19 of 21 FATF action items and aims to exit the grey list by April 2027 after raising its cash-withdrawal reporting threshold and moving to tighten rules on frozen assets and proliferation financing.

Gabon sold $580 million of eight-year Eurobonds on 14 October with a 9.375 per cent coupon, drawing close to $1 billion in orders and trimming its risk premium despite higher US rates.

Moody's has revised sub-Saharan Africa's outlook to positive as reforms, commodity prices and better financing ease debt pressures, though interest burdens remain high for several countries including Kenya and Zambia.

Lagos State and the African Development Bank have launched a scheme to support 610 women-led businesses with training, mentoring and grants to improve access to finance.

Kenya's National Assembly has extended the reduced 8 per cent VAT rate on petroleum products for three months, forgoing about KSh81 billion in revenue to cushion consumers as crude prices rise.

Cardoso succeeds Ireti Samuel-Ogbu at the helm of the Africa Finance Corporation, adding a continental infrastructure-finance role to his central bank duties.

Banks, fintechs and insurers are now the biggest source of dollar demand, underscoring how Nigeria's FX market is being reshaped by a deeper financial system.

Layer3 has completed the issuance of N1.5 billion in commercial paper, its first raise under a larger N15 billion programme, to finance local cloud and data infrastructure.

Standard Bank Group has signed a subscription agreement to invest in OPay, expected to close around the fintech's planned New York listing, subject to the offering and regulatory approvals.

The International Monetary Fund has said Nigeria's bank recapitalisation is necessary but not sufficient, urging stronger supervision, better buffers and timely recognition of non-performing loans.

The Central Bank of Nigeria and the Federal Ministry of Finance have placed single-digit inflation at the centre of Nigeria's medium-term strategy, with Finance Minister Taiwo Oyedele estimating that achieving it would save more than $10 billion on 2026 figures.

Ibom Air has appointed Mfon Udomah as Executive Director, Finance, and Dr Eno Udoma-Eniang as Executive Director, Legal and Corporate Affairs.

OPay's US listing filing shows lending generated 50.6% of revenue in the first half of 2026, overtaking payments, as profit reached $90.9 million.

Liberia's central bank has turned to NAICOM for guidance on supervision, after Nigeria's recapitalisation raised about N720 billion and strengthened 50 insurers.

Just 245,315 of Nigeria's roughly 84.9 million informal workers are enrolled in a pension plan, exposing a vast retirement savings gap, PenCom data shows.

PenCom has automated penalties for employers that delay pension remittances, after cumulative recoveries from defaulters reached N36.6 billion.

Foreign capital importation into Nigeria rose by more than 83 percent year-on-year in the first quarter of 2026, led by portfolio investments as global investors returned to the country's money and bond markets.

Nigeria's pension fund assets have grown beyond N31 trillion and now cover more than 11 million retirement savings account holders, with the regulator pushing to channel more of the money into infrastructure and the capital market.

Nigeria has launched a $500 million agriculture investment fund for the Niger Delta, pooling development finance and private capital to modernise farming and strengthen food security in the oil-producing region.

The SEC warned that Wayvepay is not registered to operate in the capital market, after the platform said it would offer access to the Dangote Refinery IPO.

The National Insurance Commission has begun final verification of insurers' compliance with higher capital requirements, with consolidation expected to follow.

The Securities and Exchange Commission has warned that a lack of credible companies willing to list is limiting the depth of Nigeria's capital market.

The Central Bank of Nigeria is mopping up excess cash to keep money-market conditions tight, supporting the naira and inflation but keeping borrowing costs elevated.

KuCoin Nigeria has secured conditional approval-in-principle from the Securities and Exchange Commission to join its regulatory incubation programme.

Five leading Nigerian financial institutions reported a combined pre-tax profit of about N2.29 trillion in the first half of 2026, cementing banking's dominance of corporate earnings.

The US banking giant plans to establish a merchant bank in Nigeria before the end of 2026 and has added the country to a new emerging-market bond index, in twin votes of confidence for the capital market.

The development lender says its 2026 interventions combine credit, guarantees and investment to draw commercial funding into agriculture, finance and job creation.

The lender reported N637.6 billion in profit before tax for the six months to June, while after-tax earnings fell and the board proposed a N1.50-per-share interim payout.

The mobility-finance company ended local operations after six years and said eligible drivers would make no further vehicle payments from 1 October.

The economy expanded faster in the first half of 2026 and retained a current-account surplus, but the development lender says stronger public revenue must translate into services and jobs.

Affordable Credit Becomes a Sector Priority Maiha said the ministry will work with the finance ministry and the CBN to secure loans with...

Earlier in April, it approved another $266.7m plus CFA30bn for projects across Nigeria, Ghana, Senegal, Côte d’Ivoire and The Gambia. In...

Banks Have More Cash Than They Can Immediately Deploy The CBN data showed that banks’ SDF placements rose from N6.014tn on September 28...

The second issuance would complete the first phase of a programme designed to restore liquidity and confidence among electricity generators.

At least 30 percent of the sovereign-guaranteed funding is expected to support Nigerian small and medium-sized enterprises.

Customer deposits expanded and the capital ratio remained strong, but the 2025 accounts showed that balance-sheet growth did not produce higher gross revenue.

Gross premium written rose 47.3 percent in 2025, while low retention in specialist risks showed why the industry's new capital rules matter.

The consumer regulator said its lending rules target opaque charges and aggressive recovery practices, not lawful telecom credit products.

The transaction lifted eligible capital above the N500 billion minimum for an international commercial-bank licence, subject to final approvals.

The two-year exercise lifted paid-up capital across the banking system, with the regulator saying every affected lender chose a route to compliance.

The sharp month-on-month rebound strengthened state revenue, but comparisons with December require care because deductions and the timing of collections can move between periods.