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NIGERIAN BANKING SECTOR
Adedapo Adedayo Olagunju, an Oxford-trained banker who has led JPMorgan’s West African operations since 2018, is set to head the American financial institution’s proposed merchant bank in Nigeria, following the Central Bank of Nigeria’s (CBN) approval of his nomination as Managing Director.
First HoldCo Plc has reported a 60.84% year-on-year increase in group profit before tax to N911.24 billion for the nine months ended September 30, 2026, compared with N566.54 billion in the corresponding period of 2025.
First HoldCo Plc has appointed Gwen Mwaba, a former senior executive at the African Export-Import Bank (Afreximbank), as a Non-Executive Director, strengthening its board with her experience in trade finance, credit risk and development finance.
When the Central Bank of Nigeria cut its benchmark interest rate by 350 basis points in September, one of the immediate concerns for bank investors was that the lower-rate environment would eventually reduce what banks earn from loans, government securities and surplus cash placed with the CBN.
JPMorgan Chase & Co., the largest bank in the United States by assets, has deposited N50 billion ($38 million) with the Central Bank of Nigeria (CBN) as it advances its application for a merchant banking licence in Nigeria.
Union Bank of Nigeria has nurtured and retained generational customers, some of whom have maintained a banking relationship...
Zenith Bank founder and former chairman Jim Ovia is set to receive approximately N8.7 billion in interim dividends for the first half of 2026, following the bank's decision to increase its dividend payout to shareholders.
J.P. Morgan plans to establish a merchant bank in Nigeria, with operations targeted to commence before the end of 2026, subject to regulatory approval.
Banks cut their deposits with the Central Bank of Nigeria (CBN) through the Standing Deposit Facility (SDF) by N941.85 billion to N3.76 trillion on October 7, 2026, marking the largest single-day reduction since September 30.
Fidelity Bank Plc has obtained a further extension from the Nigerian Exchange Limited (NGX) to delay the publication of its audited financial statements for the half-year ended June 30, 2026, as it awaits final regulatory approvals.
Here are the risk executives behind 10 of the most capitalized banking groups on the NGX based on market trade day as of October 2, 2026.
Greenwich Bank Limited has commenced operations as a regional commercial bank, commissioning three branches in Ikoyi, Victoria Island...