Category: Capital Market

Q1’25: Fidelity Bank Grows PBT By 167.8% To N105.8bn

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Fidelity Bank Plc, one of Nigeria’s leading Tier-1 financial institutions, has announced a remarkable financial performance for the first quarter of 2025, recording a Profit Before Tax (PBT) of N105.8 billion, representing an impressive growth of 167.8 per cent compared to N39.5 billion in Q1’24. The bank’s unaudited financial statements, released on the Nigerian Exchange (NGX) on April 30, 2025, highlight a substantial increase in Gross Earnings, which rose to N315.4 billion, marking a year-on-year growth of 64.2 per cent from N192.1 billion in the same period last year. Growth…

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AIO Strengthens Ties With Nigerian Insurers, Pledges Better Return For Members

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The African Insurers Organisation (AIO) has moved to strengthen collaboration with the Nigerian insurance market while pledging more value in return for insurance companies of its member countries.     The Secretary General of the AIO, Mr. Jean Baptiste, said this during an official visit to the Nigerian Insurance Market in company of the AIO’s Communication and Public Relations Officer, Mr Charles Moki, hosted by the Nigerian Insurers Association (NIA) in Lagos.     The visit of the AIO officials to Nigeria began with a meeting with the NIA Chairman,…

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IMF: Nigeria Taking Significant Steps To Stabilise Economy

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  Following series of reforms embarked upon by the Federal Government, a team of experts from the International Monetary Fund (IMF) has confirmed that Nigeria is currently on the right path to stabilising the economy. In an End of Mission statement signifying that the IMF staff have completed the 2025 Article IV Mission to Nigeria, the mission chief for Nigeria, Mr. Axel Schimmelpfennig, issued a statement confirming Federal Government’s positive journey to stabilising the economy. The team visited Lagos and Abuja on April 2–15 to hold discussions for the 2025…

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Third Party Motor Insurance: Checkmating The Police Advantage

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  The issuance of a licence to the Nigeria Police Force to own and operate insurance business appears to have distabilised the conventional operators as the deed becomes a cutting edge for the law enforcement officers to corner a number of the policies to themselves through sheer intimidation, especially the most rewarding Third Party Motor Insurance cover, Sunday Ojeme reports   Over the last couple of years, the Nigerian insurance sector has struggled against so many odds. Fuelled by both internal and external misadventures, the sector has basically struggled endlessly…

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Capital Formation: Coronation Registrars Charts Path To Sustainable Wealth

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  With most Nigerians finding it difficult to save for the future due to several factors, the management of Coronation Registrars has identified the role investment in securities could play in capital formation. In a webinar themed, “The Role of Capital Formation and Dividend in Building Sustainable Wealth,” organised by the firm, the President and Chairman of Council, Institute of Capital Market Registrars, Oluseyi Owoturo, gave a direction on building sustainable wealth. Speaking on the importance of reinvesting dividends, he said dividends could be a good source of capital formation…

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Q1’24: Fidelity Bank Records 120.1% Growth In PBT To N39.5bn

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In line with its upward growth trajectory, leading financial institution, Fidelity Bank Plc, has posted an impressive 120.1 per cent growth in Profit Before Tax from N17.9 billion at the end of Q1’23 to N39.5 billion for Q1’24. This was made known in the bank’s unaudited financial statements released on the issuer portal of the Nigerian Exchange (NGX) on Tuesday, April 30, 2024. According to the statement, Gross Earnings increased by 89.9 per cent yoy to N192.1 billion from N101.1 billion in Q1’23. The increase was led by a combination…

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Q1’24: Zenith Bank Posts 189% Growth In Earnings

JUSTINA EMMANUEL OKPARA

Zenith Bank Plc has posted an impressive triple-digit growth of 189 per cent in Gross Earnings, from N270 billion reported in Q1’23 to N781 billion in Q1’24, its unaudited results for the first quarter ended March 31, 2024 have shown. This is despite the challenging operating environment and tightening monetary policy stance. From the unaudited statement of account submitted to the Nigerian Exchange (NGX) on Friday, May 3, 2024, this impressive growth in the topline also enhanced the bottom line, as profit before tax (PBT) rose to N320 billion in…

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ASR Africa Begins Construction Of N250m Sports Complex In UniJos

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The Abdul Samad Rabiu Africa Initiative (ASR Africa), the philanthropic initiative of the Chairman of BUA Group, Abdul Samad Rabiu (CFR, CON), has kicked off the construction of the N250 million sports complex for the University of Jos. The sporting facility, which is situated at the Naraguta campus of the university, is set to consolidate the preparedness of the university in hosting the Nigerian Universities Games Association (NUGA). The facility will feature a 300-seater spectator stand, changing rooms, a lawn tennis court, and a basketball court. Speaking at the event,…

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Poverty: World Bank Places Nigeria At Par With War-Torn DRC

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…says inflation’ll remain high at 24.8% Despite the abundant human and natural resources in the country, the World Bank has placed Nigeria in the same position with war-torn Democratic Republic of Congo in its latest poverty index, according to a report released yesterday. The global lender, which reaffirmed that Nigeria’s economic growth would remain at 3.3 per cent in 2024, however, said the country’s inflation rate would remain high at 24.8 per cent year-on-year, YoY, in 2024. DRC, as at 2021 had a population of 95.894 million with an estimated…

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FirstBank Inaugurates ‘Digital Xperience Centre” At Banana Island

Gideon Myek

FirstBank of Nigeria on Wednesday inaugurated its “Digital Xperience Centre” at the Banana Island Front Gate, Ikoyi, Lagos. In his speech at the event, the Managing Director and Chief Executive Officer, FirstBank of Nigeria and subsidiaries, Dr. Adesola Adeduntan, who inaugurated the Centre, said it was the fourth such state-of-the-art facility in the country and the second in the state to be inaugurated by the bank. He said that the establishment of digital experience centres aligned with the bank’s commitment to delivering exceptional customer experiences and staying at the forefront…

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