Zenith Bank Plc has reported a profit before tax of ₦928.80 billion for the nine months ended September 30, 2026, representing a 1.24% increase from the ₦917.41 billion recorded during the corresponding period of 2025. The increase came despite a significant decline in the bank’s gross earnings and a reversal in trading performance, as lower … Read more
The cryptocurrency industry is facing one of its biggest security crises after Binance, the world’s largest cryptocurrency exchange by trading volume, reported a major security breach with an estimated financial impact of approximately $6.3 billion. The incident, which came to light on Thursday, October 29, 2026, has raised serious questions about the security of cryptocurrency … Read more
Women entrepreneurs could soon get more funding support as the Development Bank of Nigeria (DBN) has announced a new initiative to intervene in the challenges female business owners face in accessing finances. The DBN Action For Women In Nigeria (DAWN) initiative was announced on the occasion of the seventh Annual Lecture of the Development Bank … Read more
The World Bank’s loan facility to Nigeria of $500 million will have certain conditions imposed on it, including economic reform and accountability measures, as detailed in the October 2026 agreement. The facility, which has been made available from the International Bank for Reconstruction and Development (IBRD), is part of World Bank’s Nigeria Actions for Investment … Read more
First City Monument Bank (FCMB) is facing a ₦5 billion lawsuit from a woman and her company over the alleged unauthorised disclosure of a corporate bank statement to her estranged husband, who she claims used information in the document to locate her new residence and assault her. The suit was filed by First Tirad Global … Read more
Nigeria’s headline inflation rate fell to 14.63% in September 2026, while the country’s external reserves exceeded $55 billion, according to figures highlighted by Central Bank of Nigeria (CBN) Governor Olayemi Cardoso at the 2026 IMF–World Bank Annual Meetings in Bangkok, Thailand. Cardoso presented the figures at a press briefing on October 17, describing them as … Read more
Deutsche Bank has adopted a more positive outlook on the Nigerian naira, adding the currency to its frontier foreign exchange watchlist as the bank sees potential for further gains against the US dollar. In a client note published on Monday, October 19, 2026, strategists at the German bank described the naira as undervalued and pointed … Read more
Onafriq, the pan-African payments company that operates Baxi in Nigeria, has announced plans to wind down its agent banking business, marking a major change for merchants and POS agents using the platform. The company disclosed the decision on Friday, October 16, 2026, citing rising operating costs, naira depreciation, inflation and growing competition in Nigeria’s payment … Read more
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has made progress towards a potential stock market listing after completing a baseline assessment of its readiness and beginning work to address governance and financial reporting gaps identified by its advisers. NNPC Group Chief Executive Officer, Bayo Bashir Ojulari, disclosed the development in an interview with Bloomberg … Read more
Aliko Dangote, President of Dangote Industries Limited, has said investors applying for ₦50,000 or less in the Dangote Petroleum Refinery initial public offering (IPO) will receive priority consideration during the share-allocation process. Dangote made the announcement during the final leg of the refinery’s nationwide IPO roadshow in Port Harcourt, Rivers State, on October 14, 2026. … Read more