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First HoldCo Earning Plummets 93% to N45bn for 2025

05.02.2026
First HoldCo has reported a full-year profit of N44.98bn for the 2025 financial year, representing a 93.4 per cent decline from the N677.01bn profit recorded in 2024, even as the financial services group slipped into a loss of N405.89bn in the fourth quarter. The group’s audited results for the year ended 31 December 2025 showed...
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Dangote Refinery Not Importing Finished Fuel, MD Clarifies

05.02.2026
The Managing Director of the Dangote Petroleum Refinery, David Bird, has said that the $20bn facility is not importing finished petroleum products, explaining that the refinery operates a merchant refining model that does not rely solely on crude oil. According to Bird, what some individuals called fuel was intermediate feedstock. Bird made the clarification while...
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CBN to Release Open Banking Roadmap in Three Months

05.02.2026
The Central Bank of Nigeria will issue an implementation roadmap for Open Banking within three months, aiming to bridge technical gaps in the country’s financial ecosystem. This was disclosed in the newly released CBN Fintech Report 2025, which captured activities in the fintech sector. The PUNCH reports that in a February 2021 circular, the apex...
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Coronation Merchant Bank Aims for African Prominence at 10

05.02.2026
Coronation Merchant Bank has set its sights on becoming a leading African bank as it marked its 10th anniversary. This was disclosed at the Chairman’s Dinner event to mark the anniversary of the lender in Lagos. Speaking at the Chairman’s Dinner held to commemorate the milestone in Lagos, Managing Director/Chief Executive Officer Paul Abiagam said...
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Nigeria Prizes 2026 Opens for AI, Poetry & Creative Arts

05.02.2026
The organisers of The Nigeria Prizes have announced the commencement of the 2026 competition cycle, highlighting artificial intelligence, information and communication technology, poetry, and documentary filmmaking. In a statement issued on Sunday, the organisers said the 2026 edition reinforces The Nigeria Prizes’ position as the country’s foremost platform for recognising excellence in science, innovation, literature...
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Cornerstone Insurance assures annuitants of stability

05.02.2026
Cornerstone Insurance Plc has assured annuitants of its financial stability and long-term capacity to meet pension obligations, reaffirming its commitment to trust, accountability and consistent service delivery to retirees across the country. This reassurance was delivered during the recently held Annuity Forum in Lagos, where the company’s Chief Executive Officer/Group Managing Director, Mr Stephen Alangbo,...
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FBNQuest Merchant Bank Renamed Quest Merchant Bank

05.02.2026
FBNQuest Merchant Bank Limited has announced the completion of its change of name and will now operate as Quest Merchant Bank Limited, following the receipt of all required corporate and regulatory approvals. This was disclosed in a statement released by the firm on Monday. The PUNCH reports that FBN Holdings Plc announced the sale of...
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Nigeria PMI slips below 50 as new orders stall

05.02.2026
Nigerian companies recorded a muted start to 2026, with business conditions broadly stable but momentum easing, according to the latest Stanbic IBTC Bank Nigeria Purchasing Managers’ Index published on Monday. According to the Stanbic IBTC Bank Nigeria PMI compiled by S&P Global, the headline PMI fell to 49.7 in January from 53.5 in December, dropping...
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NRC Accuses Oyo LG of Destroying Railway Assets in Ibadan

05.02.2026
The Nigerian Railway Corporation has accused a Local Government in Oyo State of overseeing the destruction of railway infrastructure worth several million naira in Ibadan, threatening that it would pursue all necessary security, administrative, and legal measures to protect its infrastructure and prevent future encroachments on railway corridors across the country. In a statement signed...
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I apologise for saying no heaven without tithe – Adeboye

04.10.2024
The General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adeboye, has apologised for saying that Christians who don’t pay tithe might not make it to heaven. Adeboye who had previously said that paying tithe was one of the prerequisites for going to heaven, apologised for the comment while addressing his congregation Thursday...

Protesters storm Rivers electoral commission, insist election must hold

04.10.2024
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Man who asked Tinubu to resign admitted in psychiatric hospital

04.10.2024
The Adamawa State Police Command has disclosed that the 30-year-old Abdullahi Mohammed who climbed a 33 kv high tension electricity pole in Mayo-Belwa last Friday has been admitted at the Yola Psychiatric hospital for mental examination. The Police Public Relations Officer of the command SP Suleiman Nguroje, told Arewa PUNCH on Friday in an exclusive...

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