As the harsh operating environment persists, five tier-one banks’ impairment charges hit N580 billion in the first three quarters of last year. The amount is a significant increase from the N122 billion they posted in the previous year.

Femi Otedola, the ever-dynamic Nigerian investor, has electrified the Forbes Nigeria ranks, powering up to the coveted fourth position with a $1.2 billion valuation. This meteoric rise owes much to his strategic play in the energy sector, specifically his controlling stake in Geregu Power Plc. Otedola's Geregu gambit proved masterful. Holding over 70% of the…

Investors repositioning for year-end Yuletide rally persisted at the close of transactions yesterday, as investors’ wealth appreciated by N415 billion in three trading days.

The Federal High Court, Lagos, will today begin the journey to determine the status of the 11th Annual General Meeting (AGM) of FBN Holdings Plc.

Top five tier-one Nigerian banks by market capitalisation posted combined gross earnings of N4.2 trillion in their 2023 half-year (H1) operations, a figure that 6.7 per cent less than 2022 full-year earnings.

Shareholders, under the auspices of Trusted Shareholders Association of Nigeria (TSAN), have advised Oba Otudeko not to bite the fingers that fed him, alleging that the former chairman of the institution instigated a court order that stopped FBN Holdings from holding its Annual General Meeting (AGM), scheduled for August 15, 2023.

Negative sentiment resurfaced in the equities sector of the market yesterday, as profit-taking in many blue-chip stocks, especially MTN Nigeria (MTNN) and Unilever, dragged the all-share index (ASI) by 0.5 per cent.

In a strategic move targeted at maximising returns and expanding its investment portfolio, Honeywell Group, a renowned Nigerian investment company, has stated it is bullish about the value generation potential of its recent investment in FBN Holdings, one of Nigeria’s largest financial services groups.

The battle for the control of the country’s premier and leading financial institution, FBN Holdings Plc persists as strong indications emerged yesterday that another majority shareholder is mopping up the shares of the leading bank.

There are strong indications that the Chairman, Honeywell Group, Oba Otudeko, has consolidated his shareholding in FBN Holdings Plc as the largest shareholder with the acquisition of 4,770,269,843 units of shares through Barbican Capital Limited, an affiliate of Honeywell Group Limited, representing 13.3 per cent of its 35,895,292,791 outstanding shares of the FBN Holdings.

After days of an uptrend, bearish sentiments resurfaced in the equities sector of the Nigerian Exchange Limited (NGX) yesterday, as losses in Geregu and 26 stocks dragged market capitalisation by N7 billion.