Market Updates

CardinalStone raises N12.63bn in Series 1 infrastructure financing CardinalStone Asset Management Limited has closed Series 1 of the CardinalStone Infrastructure Debt Fund, securing N12.63bn in investor commitments. According to a statement from the firm on Wednesday, the successful close of the funding round marked an important milestone in CardinalStone’s broader... Read More →

CBN reforms, rising oil prices lift FX fortunes Nigeria’s foreign exchange outlook has received a fresh boost from the recent rally in global oil prices, with Brent crude trading comfortably above the Federal Government’s 2026 budget benchmark of $64.85 per barrel. At around $69 per barrel, the price level improves... Read More →

CBN survey: 87.5% of Nigerian fintechs use AI for fraud detection About 87.5% of Nigerian fintech companies now deploy artificial intelligence (AI) for fraud detection, highlighting how risk management concerns are shaping technology adoption across the country’s fast-growing digital finance ecosystem. This is according to the Central Bank of Nigeria’s... Read More →

Fintechs seek CBN clarity on permissible activities in crypto market  Fintech operators in Nigeria are urging the Central Bank of Nigeria (CBN) to clearly define which cryptocurrency-related activities are permitted for licensed institutions. This call comes amid persistent regulatory uncertainty that industry players say is constraining innovation, investment, and broader institutional participation in... Read More →

Transcorp Hotels reports N32.8 billion FY2025 profit, declares final dividend Transcorp Hotels posted a full-year pretax profit of N32.8 billion in 2025, up 45.1%, driven mostly by strong revenue, which grew 38.36% to N97 billion. The growth was further encouraged by the reversal of a financial asset impairment, which turned... Read More →

Stock Market Commence February on Positive Note as Market Cap Adds N9bn The Nigerian stock market yesterday commenced February 2026 trading activities on a positive note, as the major bench appreciated by 0.01 per cent.  The Nigerian Exchange Limited All Share Index (NGX ASI) gained by 14.24 basis points or... Read More →