On January 23, 2026, Afreximbank officially terminated its rating relationship with Fitch Ratings following a prolonged dispute over the agency’s assessment of the bank’s risk and treatment of preferred creditor status.
Image: Lagos Governor Babajide Sanwo-Olu The National Bureau of Statistics (NBS) has ranked Lagos State as the most indebted state in Nigeria, owing creditors a total of N1.22 trillion and $1.17 billion in domestic and external debts, respectively, The statistics body said that Lagos State also recorded the highest external debt over the reference period…
•Engr Mustafa Bello Jim Ovia, the Founder / outgoing Chairman of Zenith Bank Plc, has announced his successor , Engr Mustafa Bello , to members of the Board and shareholders. Ovia made the introduction yesterday during the bank’s annual general meeting in Lagos. In his remark, Jim Ovia stated, “Distinguished shareholders, it gives me great…
Zenith Bank Plc has announced the retirement of its founder and Group Chairman, Jim Ovia, following the expiration of his tenure. Ovia, who founded Zenith Bank in 1990, has played a central role in the institution’s growth into one of Nigeria’s leading financial services providers. In a statement issued on Tuesday, the bank said that…
Photo: Dr Adaora Umeoji, GMD of Zenith Bank. Zenith Bank Plc said that it will officially open its Côte d’Ivoire branch tomorrow Wednesday, April 29, 2026. The new subsidiary is positioned to support cross-border trade and investment, with a focus on corporate banking, trade finance, local and offshore banking services, and structured financial solutions for…
The Central Bank of Nigeria (CBN) has mandated commercial and merchant banks to increased the fee for issuance and replacement of Automated Terminal Machine (ATM) debit/ credit cards by 50 percent to N1,500 from N1,000. The apex bank gave the directive on Thursday in a circular to Banks, Other Financial Institutions and the Public signed…
Zedvance plans to disburse ₦250 billion in commercial funding in 2026 alone, following strong performance from its Commercial Solutions business, which has already deployed over ₦96 billion since 2025.
The Central Bank of Nigeria on Friday announced the introduction of the Nigerian Overnight Financing Rate (NOFR) as a new benchmark for the country’s money market, aimed at improving transparency and strengthening monetary policy transmission. The disclosure was contained in a press statement issued by the CBN’s Acting Director of Corporate Communications, Hakama Sidi-Ali. According…
The Board of Directors of African Export-Import Bank (Afreximbank) has approved a US$10 billion Gulf Crisis Response Programme (GCRP) facility to help African and Caribbean economies to counter the severe economic shocks triggered by the escalating conflict in the Middle East. Dr. George Elombi, President and Chairman of the Board of Directors at Afreximbank, announced…
Photo from left: Governor, Central Bank of Egypt and Board Member, Afreximbank, Hassan Elsayed Hassan Abdalla; President and Chairman of the Board of Directors, Afreximbank, Dr George Elombi; President/Chief Executive, Dangote Industries Limited, Aliko Dangote; and former President and Chairman of the Board of Directors, Afreximbank, Prof Benedict Oramah. ” African Export-Import Bank has committed…
