Nigeria’s banking sector recorded a fresh increase in bad loans in 2025 after the Central Bank of Nigeria (CBN) withdrew regulatory forbearance that had allowed lenders to restructure pandemic-affected facilities without classifying them as non-performing. According to the CBN’s latest macroeconomic outlook, the industry’s non-performing loans (NPL) ratio rose to an estimated 7 per cent, exceeding the prudential limit of 5 per cent. The apex bank attributed the rise to the crystallisation of loans that were previously restructured under COVID-19 relief measures but could no longer enjoy special regulatory treatment once the forbearance window closed. “The Non-performing Loans ratio stood…
Author: Elvis Eromosele
Tier-one lender, Fidelity Bank Plc, has announced the appointment of Mrs. Amaka Onwughalu as Chairman of its Board of Directors, effective January 1, 2026, following the completion of Mr. Mustafa Chike-Obi’s tenure on December 31, 2025. The bank said the board transition is in line with its governance and succession policies and has been duly communicated to the Central Bank of Nigeria (CBN), the Nigerian Exchange Group (NGX), and other relevant stakeholders. Mr. Chike-Obi’s tenure was marked by significant milestones that strengthened Fidelity Bank’s market position. Under his leadership, the bank successfully repaid its Eurobond, completed the first tranche of…
Nigeria plans to establish a central investor desk within the Federal Ministry of Finance in 2026 as part of a renewed push to attract capital inflows and rebuild investor confidence after years of macroeconomic volatility. The proposed desk will serve as a single point of contact between the government and domestic and foreign investors, development finance institutions, credit rating agencies, and market analysts, according to a policy statement released by the Ministry of Finance on Thursday. Officials say the initiative is aimed at tackling one of investors’ long-standing concerns about Nigeria: fragmented communication and inconsistent policy signals across government institutions.…
In 2011, Elon Musk, Tesla CEO, famously brushed off Chinese electric vehicle maker BYD as a serious rival. Fourteen years later, that assessment has been decisively overturned. BYD has surpassed Tesla to become the world’s largest seller of electric vehicles, according to 2025 sales figures released this week by both companies. The Chinese automaker announced on Thursday that it sold 2.26 million electric vehicles in 2025, a nearly 28 per cent increase from the previous year. Tesla, by contrast, reported on Friday that its global deliveries fell 8.6 per cent to about 1.6 million vehicles, marking the second consecutive year…
By Elvis Eromosele As Nigeria’s digital economy expands at breakneck speed, the warning signs from India’s troubled gig sector are impossible to ignore… When tens of thousands of gig workers downed tools across India over New Year’s Eve, the world witnessed the human backlash against an economy obsessed with speed. What began as a race to deliver groceries in under 10 minutes has spiralled into worker unrest, safety concerns, and mounting regulatory pressure. For Nigeria, where app-based transport, food delivery and logistics are expanding rapidly, the crisis offers a timely warning. Nigeria’s gig economy is growing on the back of…
Rand Merchant Bank (RMB) has completed a landmark $285 million acquisition financing for BlueCore InfraCo Limited, enabling the company to acquire Glover Gas & Power B.V., the owner of Axxela Limited, Nigeria’s leading private gas and power distribution platform. In the transaction, RMB acted as Global Debt Coordinator, Mandated Lead Arranger, Underwriter and Bookrunner, structuring and part-funding the financing under tight timelines. The bank also served as exclusive sell-side adviser to Helios Investment Partners, ensuring a smooth exit and transition to indigenous ownership. The deal is widely seen as a major boost for Nigeria’s energy infrastructure, supporting the country’s gas…
Elon Musk closed 2025 with a personal fortune estimated at $726.3 billion, cementing his position as the world’s richest individual, according to Forbes’ Real-Time Billionaires List. The staggering valuation caps a year of exceptional gains for Musk, fuelled by soaring valuations of Tesla and SpaceX, a favourable court ruling that reinstated previously disputed Tesla stock options, and renewed investor optimism around his long-term ventures. Analysts say the trajectory places Musk firmly on course to potentially become the world’s first trillionaire. Despite the milestone, Musk’s net worth dipped slightly by about $3.3 billion on the final trading day of the year…
Investors in Nigerian equities ended 2025 with a net capital gain of ₦32.13 trillion, cementing the Nigerian Exchange (NGX) as one of the world’s top five best-performing stock markets for the year. The NGX All-Share Index (ASI) closed 2025 with a 51.19 per cent full-year return, rising to 155,613.03 points from 102,926.40 points at the start of the year. This rally translated into the ₦32.13 trillion gain in investor wealth. Nigeria’s performance significantly outpaced returns in several advanced and emerging markets, including the United States, United Kingdom, Germany, France, and China, where average index gains were below 25 per cent.…
Nigerian billionaire Tony Elumelu has strengthened his footprint in the energy sector after Heirs Energies Limited acquired a 20 per cent stake in Seplat Energy Plc for about $496 million, emerging as the company’s largest shareholder. The transaction, announced on December 31, 2025, involves the purchase of French energy firm Maurel & Prom’s entire 20.07 per cent holding in Seplat, equivalent to 120.4 million ordinary shares priced at 305 pence each. It ranks among the most significant energy deals in Nigeria in 2025 and signals a major boost for indigenous ownership in the country’s oil and gas industry. Maurel &…
By Ishola N. Ayodele An old African proverb says, “He who wants to cross the river must first understand the current.”Public policy is that river. Citizens are the current. In a viral Facebook video circulating amid rising public anxiety over impending tax reforms, the warning “Tax is coming” flashes repeatedly, reinforced with urgent emojis and alarmist calls for attention. Beyond its theatrics, the video captures a deeper and more familiar governance failure: policies announced without adequate explanation, leaving citizens bewildered, suspicious, and vulnerable to misinformation. As I wrote in my book Teaching Without Teaching, “if the arrow does not hit…