Breaking and developing business news.
Despite maintaining the same level of shareholding between December 2025 and June 2026, the number of shareholders in Zenith Bank increased by 11% demonstrating a growing appetite for investment in the financial institution group among retail investors. An analysis of the bank’s audited financial statements for Q2 2026 shows an increase in the number of…
THE proposed dual listing of Opay Digital Services Limited (Opay) on the New York Stock Exchange (NYSE) and the Nigerian Exchange Limited (NGXE) may represent a new era of capitalization dynamics for Nigerian financial technology companies, shifting their focus from venture capital to public markets. Opay, a payment company serving over 40 million customers,…
Zenith Bank has announced a profit before tax of N637.6 billion ($479 million) for the half year ended June 30, 2026, a growth of just 1.9% over the N625.6 billion recorded in the same period in 2025. Despite the growth of loan book by 25.5% from N9.60 trillion as at the end of June 2025…
In a move that could help unleash part of its “fortress balance sheet” into the Nigerian business environment, JP Morgan, the biggest investment bank, in the world has announced its plan to elevate its operations in Nigeria from a representative office to a merchant bank. “Fortress” is the word Jamie Dimon, its global Managing Director,…
Moove, a mobility financial technology company, has announced its decision to exit Nigeria, a month after Uber, the American ride hailing firm, decided to shut its operations in Nigeria. The move may not have been unconnected with the declining performance of its operations as increasing fuel costs and declining patronage from the cost-of-living crisis being…
The current level of huge profitability being enjoyed by the Nigerian National Petroleum Corporation may be under threat in the wake of the decision of the Federal Government to cap fuel price at NNPC’s stations at N1,350 to alleviate the economic hardship being experienced by Nigerians. State governments across the country who have enjoyed massive…