Nigeria’s biggest banks are trading at much lower valuations than their African peers, even though they deliver similar or better returns on equity (ROE), according to a new report by Chapel Hill Denham. The report shows a clear valuation gap. While South African and Moroccan banks enjoy high price-to-book (P/B) ratios, most Nigerian banks are […]
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Nigeria’s banking sector has reached a new milestone, with seven financial institutions reporting combined total assets of approximately N175.1 trillion as at the end of the first quarter of 2026. The impressive growth underscores the sector’s resilience amid evolving economic conditions, supported by strong deposit mobilisation, diversified revenue streams, and strategic positioning in high-yield securities. […]
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Members of the Central Bank of Nigeria’s Monetary Policy Committee (MPC) have expressed serious concern over rising excess liquidity in the banking system caused by heavy government spending and preparations for the 2027 elections. They fear this cash flood could weaken the impact of tight monetary policy and threaten ongoing efforts to bring down inflation. […]
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First Bank of Nigeria Limited has partnered with Visa Inc. to launch the Visa Signature card, a premium offering targeted at affluent consumers, including top executives, business owners and frequent international travellers. The new card, unveiled by First Bank of Nigeria Limited, is designed to provide exclusive lifestyle benefits, global travel privileges and curated merchant […]
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Stakeholders under the auspices of the Association of Energy Correspondents of Nigeria (NAEC) are pushing conversation on how to address barriers facing indigenous oil and power firms in Nigeria. With special focus on empowering indigenous operators, the group is looking for a way of enhancing competition in the oil, gas, power, solid minerals, and renewable […]
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•Says 276 vandalism cases recorded in three years The Transmission Company of Nigeria (TCN), Lagos Region, has intensified efforts to curb vandalism of power infrastructure through a sensitisation programme such as the one held in Itori, Ewekoro Local Government Area of Ogun State. The programme, which brought together traditional rulers, security agencies, community leaders and […]
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The Renewable Energy Association of Nigeria (REAN) has lauded the Nigerian Electricity Regulatory Commission (NERC) for the mini-grid regulations 2026 and the draft net-billing framework for renewable expansion in the country. REAN president, Ayo Ademilua, who gave the commendation when he led a delegation to the NERC headquarters in Abuja, identified the mini-grid regulations 2026 […]
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The Executive Secretary of the Joint Revenue Board (JRB), Mr. Olusegun Adesokan, has said the ongoing domestication of the Harmonised Taxes and Levies Law across Nigerian states will significantly improve revenue administration and collection at the local government level. Mr. Adesokan made the remark as a discussant at the 28th National Tax Conference organised by […]
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The Nigeria Revenue Service (NRS) has officially launched Rev360, a modern digital tax administration platform that replaces the TaxProMax system, marking a significant advancement in Nigeria’s tax compliance landscape. Addressing key concerns among taxpayers, the NRS confirmed that Rev360 is secure. The platform incorporates modern cybersecurity measures, robust encryption, and comprehensive data protection controls fully […]
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The Federal Government has dragged oil and gas services firm, Saipem Contracting Nigeria Limited, and two of its senior directors before a Federal High Court in Lagos over an alleged tax evasion scheme involving more than N66.4 billion and $938,080. The Revenue Service filed a six-count criminal charge against the company and its directors, Michele […]
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