The Corporate News

24/10/2025

Fada Ebube Muonso Arrives Maryland USA for Freedom From Captivity Crusade

The atmosphere in Maryland is charged with anticipation following the arrival of renowned Catholic priest and spiritual Director, Fada Ebube Muonso, ahead of the Freedom From Captivity Crusade.

Touching down in the United States earlier today, Fada Muonso was warmly received by members of the Holy Ghost Fraternity Prayer Movement, local parish leaders, and excited faithful who say this is more than a visit, but a divine appointment.

The crusade, scheduled to hold in Maryland, promises intense prayer sessions, healing, deliverance, and prophetic ministration, aimed at breaking physical, emotional, and spiritual bo***ge. Organizers say thousands of believers from across the United States are expected to attend the power-packed gatherings.

16/10/2025

SEC, SMEDAN Seal Pact to Unlock Capital Market Access for 40 Million SMEs

In a major step toward enhancing financial inclusion and business growth, the Securities and Exchange Commission (SEC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have entered into a Memorandum of Understanding (MoU) to improve access to long-term financing for small and medium enterprises (SMEs) through the Nigerian capital market.

The partnership is expected to open new investment channels for over 40 million SMEs, helping them scale operations, boost productivity, and contribute more meaningfully to national economic development.

Speaking at the signing ceremony in Abuja, Director-General of the SEC, Dr. Emomotimi Agama, said the initiative would open new funding routes for SMEs and integrate them into the capital market ecosystem.

“Capital is the bedrock of any company. Today we have about 40 million Small and Medium Enterprises that are duly registered with Small and Medium Enterprises Development Agency of Nigeria and it is important that as a capital market, we are able to find a route for these small and Medium Scale enterprises to be able to raise capital for sustainability.

“We also want to bring them on board the pipeline of listed companies in Nigeria where they will be able to democratize wealth and share a part of their institutions with Nigerians making sure that development is faster and to lead to the growth of the economy,” he stated.

He added that the collaboration aligns with President Bola Tinubu’s agenda on employment, growth, development, and production, describing it as a critical step toward achieving the administration’s trillion-dollar economy vision.

On his part, SMEDAN Director-General, Mr. Charles Odii, said the MoU would enable small businesses to overcome the high cost and scarcity of capital by leveraging the capital market.

“Capital in this part of the world is very expensive and scarce,” Odii said. “Through this collaboration, we are creating another source of financing for our medium-scale businesses. We have set ourselves a target of at least 1,000 SMEs listing on the capital market. This will galvanize growth, create wealth, and reduce unemployment in Nigeria.”

The agreement between the two agencies seeks to deepen the integration of MSMEs into the formal financial system and help them meet regulatory and governance standards required for market participation.

Among its major benefits, the MoU will improve access to long-term financing by supporting qualifying MSMEs to raise funds through equity or debt securities under SEC regulations. It also provides for capacity building, as both agencies will organize training and awareness programs to educate SMEs on capital market participation, financial literacy, and corporate governance.

In addition, the SEC will contribute to SMEDAN’s five-year strategic policy framework to promote inclusive financing and SME-friendly capital market policies. SMEDAN, on its part, will identify and encourage qualifying SMEs to list on recognized exchanges, expanding their access to funding and business growth opportunities.

The collaboration will also facilitate debt market participation by guiding creditworthy SMEs to issue debt securities to qualified investors, thereby widening their financing options beyond traditional bank loans. Both institutions will jointly organize a three-day national SME conference to engage stakeholders, promote market opportunities, and drive policy discussions.

The MoU further provides for the establishment of a Joint Working Group (JWG) to monitor implementation, as well as mechanisms for data sharing in line with the Nigeria Data Protection Act, 2023.

15/10/2025

15/10/2025

" Freedom From Captivity" : Break Every Chain, Step Into Your Divine Freedom!

10/10/2025

https://fb.watch/CF0iGe-L-h/

09/10/2025

Moniepoint to Launch 2nd Edition of Nigeria’s Informal Economy Report, Reveals that 42% of Nigeria’s Informal Sector Has No Buffer Against Income Shocks.

42 per cent of Nigeria’s informal sector operators do not have enough savings to survive beyond one month without income, underscoring the fragile financial position of millions of small businesses across the country

This was revealed in a new study by Moniepoint Microfinance Bank, a proudly Nigerian-founded and led financial institution.

The yet to be released report has received generous support from the Ministry of Industry, Trade, and Investment, and Small and Medium Enterprise Development Agency of Nigeria, SMEDAN.

The findings form part of the second edition of Nigeria’s Informal Economy Report, which Moniepoint is set to officially launch on Friday, October 17, 2025, at the Abuja Continental Hotel.

Nigeria's informal economy is the backbone of the nation's livelihood, accounting for over 80% of employment and driving the majority of economic activity. For millions of Nigerians locked out of formal employment structures, this sector is essential in serving as a bulwark against poverty.

According to Moniepoint, the Informal Economy Report is designed to provide evidence-based insights that can guide policymakers, regulators, and financial institutions in shaping interventions that strengthen and formalise informal enterprises.

“The Informal Economy Report is a robust and important study that examines the informal market more closely and curates fresh insights into its realities. We believe its key outputs will serve ecosystem players and government well in policy direction and execution,” said Babatunde Olofin, Managing Director of Moniepoint Microfinance Bank, in a statement ahead of the launch.

The event is expected to attract senior government officials, regulators, lawmakers, industry leaders, trade associations, academics, civil society, and development organisations. It will feature keynote addresses, panel discussions, and presentations of the study’s findings, with participants exploring strategies to create a more inclusive and sustainable economic landscape.

The Informal Economy Report 2025 follows the success of the inaugural edition, which received commendation from the Federal Ministry of Industry, Trade and Investment, the Corporate Affairs Commission, SMEDAN, and leading business associations for providing credible data and actionable recommendations.

23/09/2025

Faces at the 2025 Annual Conference of Finance Correspondent Association of Nigeria (FICAN) in Lagos.

23/09/2025

NDIC, NSIA, NCS, LBS, Others Celebrate FICAN’s Resilience in Transforming Finance Journalism for 35 Years.

The Nigeria Deposit Insurance Corporation (NDIC), Nigeria Sovereign Investment Authority (NSIA), Nigeria Customs Service (NCS) and Lagos Business School (LBS), during the weekend joined other stakeholders to commend the Finance Correspondents Association of Nigeria (FICAN) for remaining resilience in transforming finance journalism and contributing to the Nigeria’s economy growth for 35 Years.

During its 35th Anniversary Celebration, Managing Director NDIC, Mr. Thompson Sunday who was represented by Director, Claims Resolution Department, Mr. Sule Olawale and Managing Director, NSIA Aminu Umar-Sadiq who was represented by Head Corporate Communications, Joyce Onyegbule in their goodwill message at the 2025 annual conference of FICAN in Lagos praised the executives and members of the association for collaborating with government’s agencies in effective dissemination of Information.

Olawale noted that 35 years is not a small feat, stressing that FICAN has positioned itself to be the hallmark of finance reporting in Nigeria.

“My goodwill message will centre around appealing to you to continue the good works. I commend the past and current leadership of FICAN for sustaining the association for over 35 years.

"NDIC and FICAN have had a very warm and cordial relationship over the years. FICAN has been there to tell our stories, give us the platform to share our narratives and to show to Nigerians the great work that the NDIC has done and will continue to do", he said.

In her goodwill message, representative of NSIA, Onyegbule congratulated FICAN on the 35th anniversary, stressing that executives and members of the association have done a great job.

“On behalf of the management and staff of the entire NSIA, we extend our very warm regards and congratulations on this very laudable milestone that you crossed.

“FICAN has also showcased all the work that we have done across the six geo-politicial zones and also given us a platform to say the things that we even wanted to do in future.

“We say a very big thank you to FICAN and we look forward to many more years of impactful association to tell the stories that impact and shape the outcome that we as Nigerians want to see again and again,” she said.

In his speech, the Deputy Comptroller of Customs ,Christopher Famyam, who represented the Nigeria Customs Service said the service is aware of the tremendous education and enlightenment the association is doing through stories members churn out on daily basis.
According to him the NCS, who has been at the forefront of the federal government's modernisation and streamlining of processes in revenue collection and taxation, appreciates the laudable efforts of Journalists and especially FICAN.
He said NCS commenced its digital transformation as far back as year 2006 with Asucuda, but has recently achieved a localised modern platform known as B,Odogwu.
He said the introduction of the local platform has boosted revenue collection as well as enhancing trade facilitation.

"B'Odogwu refers to the Nigeria Customs Service's unified, indigenous software system designed to modernize trade processes and improve efficiency at Nigerian borders.
" It acts as a single platform for all customs clearance processes. It centralizes customs operations for better management and monitoring and risk control", he noted.

Also Professor Akintola Owolabi, Dean of Accounting, Lagos Business School,
said FICAN stands as the beacon for financial journalism in Nigeria.
He stressed that for 35 years, the association has catalysed economic discourse by forging robust connections between the media, academia, and industry leaders.
" Your unwavering commitment to rigorous capacity building, incisive reporting, and fostering transparency has enriched public understanding of Nigeria’s complex financial sector", he added.
Owolabi said that the theme of the conference was timely and vital for Nigeria,s sustainable development,
adding that "at Lagos Business school the strategic vision is in consonance with advancing digital transformation, promoting and,cultivating the leaders Nigeria requires to navigate and pioneer the evolving frontier."

14/09/2025

SEC Considering Gradual Implementation of ISSB Standards, Says Agama

The Director General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has disclosed that the Commission is considering a gradual implementation of the global sustainability disclosure standards developed by the International Organisation of Securities Commissions (IOSCO).

Dr. Agama, who spoke at an investors’ roundtable on the International Sustainability Standards Board (ISSB) over the weekend, explained that Nigeria, having participated in the taskforce that developed the standards, would continue to support the four pillars on which they were built.

He noted that Nigeria, with its vast natural resources and growing population, “is particularly vulnerable to climate change and is simultaneously pursuing an ambitious sustainable finance agenda”.

While commending the ISSB framework, Agama stressed that Nigeria would not simply “copy and paste” the standards, but would adopt a carefully tailored approach.

“This means: capacity building—working with issuers, auditors, and preparers to ensure they understand and are ready for the new requirements; phased implementation—considering a graduated approach, perhaps beginning with larger, listed entities before expanding to others; assurance framework—developing a robust system for the verification of disclosures to guarantee their credibility; and alignment with local realities—ensuring the global baseline is applied in a way that is appropriate and proportional for our market, while maintaining the core goal of global comparability,” he explained.

Agama added that the Commission opted for this method “because we believe that embracing this global baseline will enhance the attractiveness of the Nigerian capital market. It signals to international investors that we are serious about transparency, governance, and managing long-term risk. It has transformed the ISSB from a promising new initiative into the definitive global framework for sustainability disclosures.”

According to him, “the case for adoption is clear: for global comparability, for investor trust, for managing systemic risk, and for reducing complexity. This is no longer a question of if, but of how and when. The journey to a sustainable global economy requires a common language. The ISSB has provided that lexicon. IOSCO has called us to speak about it. At SEC Nigeria, we have answered that call.”

He reaffirmed the Commission’s commitment to working with stakeholders domestically and across the IOSCO network to implement the standards effectively.

“The global perspective is one of unity and decisive action. By adopting the ISSB standards, we are not just complying with a global trend; we are actively building a more stable, transparent, and sustainable financial future for Nigeria, for Africa, and for the world,” he said.

27/08/2025

PRESIDENT TINUBU HOSTS NGX GROUP BOARD AND SEC DIRECTOR-GENERAL IN BRAZIL

President Bola Ahmed Tinubu has commended Nigeria’s capital market's remarkable growth since he assumed office over two years ago.

He noted the phenomenal rise in market capitalisation and increased trading activity, which have broadened investment opportunities for Nigerians and international investors.

President Tinubu spoke on Tuesday when he received the Director-General of the Securities and Exchange Commission (SEC) and the Board of Directors of Nigerian Exchange Group Plc during his state visit to Brazil.

He described the market’s performance as a clear reflection of investor confidence in his administration's reforms and bold economic measures.

“Nigeria’s markets must be a trusted engine of enterprise and prosperity. My government will continue to pursue reforms that unlock capital, protect investors, and drive innovation, so that our economy works for every Nigerian,” President Tinubu said.

President Tinubu lauded the NGX Board and SEC leadership for their commitment, affirming his administration’s unwavering resolve to elevate Nigeria’s financial ecosystem.

He stressed that this dialogue is vital to achieving the Renewed Hope Agenda’s economic targets and positioning Nigeria as Africa’s premier investment destination.

The President promised to continue supporting the capital market and was ready to implement additional reforms to strengthen and expand the sector.

SEC Director-General Dr. Emomotimi Agama applauded the recent signing of the Investment and Securities Act (ISA) 2025 and described it as one of Africa’s most comprehensive legal frameworks for capital markets.

He stated that the Act will propel Nigeria toward a ₦300 trillion market while ensuring equitable wealth distribution through strong investor protection and regulatory clarity.

NGX Group Chairman, Alhaji Umaru Kwairanga, expressed gratitude for the President’s bold reforms, noting that trading volumes and market values have nearly tripled since the commencement of the current administration.

He urged the fast-tracking of the listing of major state-owned enterprises, such as NNPC Limited, and the introduction of tax incentives to sustain this momentum. He also invited the President to visit the NGX trading floor to recognise these achievements.

Temi Popoola, Group CEO of NGX Group, emphasised the importance of positioning Nigeria’s Exchange as a global investment hub through stronger partnerships, modernised market infrastructure, and deeper product innovation. He joined the delegation in thanking the President for his bold reforms. Furthermore, he emphasised that expanding retail investor participation through digital channels will promote inclusive and sustainable market growth.

Nonso Okpala, Director NGX Group Plc, commended the administration’s reforms, citing exchange rate stability and macroeconomic predictability under the Renewed Hope Agenda as drivers of the company’s growth. He encouraged other Nigerian businesses to list on NGX as a pathway to democratising wealth and broadening participation.

14/08/2025

‎APT Securities Projects NGX Market Cap Above ₦100tr by Year-End
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The ‎Managing Director and Chief Executive Officer of APT Securities and Funds Limited, Kasimu Garba Kurfi, has projected that the Nigerian Exchange (NGX) market capitalisation will surpass ₦100 trillion by the end of 2025, buoyed by foreign exchange stability, strong corporate fundamentals, and increased primary market activities.
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‎Speaking at the Mid-Year 2025 Capital Market Review and Outlook organised by the Capital Market Correspondents Association of Nigeria (CAMCAN) in Lagos, Kurfi said the second half of the year will witness improved market performance, with inflation expected to slow, the Central Bank of Nigeria (CBN) likely to cut the Monetary Policy Rate (MPR), and treasury bill yields projected to fall.
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‎He added that the Purchasing Managers’ Index (PMI) should rise, while the exchange rate will remain relatively stable, creating a favourable environment for equities.
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‎According to him, the NGX will end the year stronger than 2024, with a market correction in the short term paving the way for sustained gains.
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‎He noted that more financial institutions are expected to recapitalise, while primary market activities will remain active in the months ahead.
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‎Kurfi identified key drivers of the 2025 market rally, including the elimination of foreign exchange-related losses by companies. He pointed out that in 2024, listed firms posted pre-tax FX losses of ₦507.2 billion, up from ₦359 billion in 2023, representing a combined ₦867 billion in losses.
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‎ “In 2025, we have seen zero FX losses due to exchange rate stability, and this has significantly boosted investor confidence,” he said.
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‎The APT Securities boss said the signing of the Nigerian Insurance Industry Reform Act (NIIRA 25) has triggered a rally in insurance stocks, while the CBN’s bank recapitalisation programme has revived the primary market, attracting over ₦2 trillion in 2024, with similar volumes anticipated in 2025.
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‎He also revealed that foreign capital inflows reached $5.6 billion in the first quarter of 2025, up from $3.4 billion in the same period in 2024, representing a 67.42 percent increase.
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‎"Foreign portfolio investment now accounts for 27.08 percent of market participation, or ₦1.14 trillion, as of July 2025, compared with less than 10 percent at the end of 2023.
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‎"Domestic investors, however, remain the dominant force, accounting for 72.92 percent, or ₦3 trillion. Daily market turnover has also improved sharply, averaging ₦25–₦30 billion, compared with ₦5 billion in previous years.
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‎"Performance data for the year shows the NGX turnover reached ₦4.19 trillion for the first half of 2025, compared with ₦2.60 trillion in the same period in 2024. Total market capitalisation rose to ₦126.73 trillion from ₦112.6 trillion in December 2024, while equity capitalisation surged to ₦92.73 trillion as of August 7, 2025, from ₦62.66 trillion at the end of 2024.
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‎"The All-Share Index (ASI) climbed to 146,569.35 basis points in early August, up 41.61 percent from 102,926.40 points in December 2024.
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‎"Sectoral performance has been robust, with about half of the NGX’s 21 indices outperforming the ASI. The Nigerian Consumer Goods Index has more than doubled the market’s gains with an 81.11 per cent rise, followed by the Insurance Index at 74.18 per cent, the NGX Lotus II at 73.34 per cent, the Banking Index at 48.15 percent, the Pension Index at 52.72 percent, and the Industrial Goods Index at 53.89 per cent.
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‎For investors, Kurfi recommended a focus on blue-chip stocks with strong fundamentals and insurance companies, particularly those that have diversified into asset management, including pension fund administration.
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‎He advised portfolio diversification to include fixed-income instruments for balance, adding that the capital market remains the best hedge against inflation and naira devaluation in the current economic climate.

05/08/2025

AP Visco 2000 Promo
Ardova Plc Rewards Loyalty with Instant Cash and Airtime .

In a compelling move that reaffirms its unwavering commitment to enriching the lives of customers beyond just their engines, Ardova Plc (AP), Nigeria’s leading integrated energy company, has launched the AP Visco 2000 Instant Reward Promo—a nationwide initiative designed to give back to the customers who have fuelled the brand’s growth through their loyalty, trust, and patronage.

Running from August 1, 2025 to December 31, 2025, the AP Visco 2000 Instant Reward Promo offers instant gratification to customers who purchase AP’s range of high-performance lubricants, including market favourites; Visco 2000, Super Visco Static, HD40, and many more. For every 1 litre purchased, customers receive an instant N200 reward; 4 litres earn N400, and buyers of 25 litres walk away with N1,000. These rewards are redeemable on the spot—either as cash or airtime—at AP Filling Stations nationwide and other accredited points of sale.

“At AP, we believe value should go beyond product performance. While our lubricants are engineered to protect and power engines across Nigeria, we are equally driven by a human mission—to appreciate and uplift the people who choose us every day,” said Moshood Olajide, Managing Director, Ardova Plc.

“This promo is not just about rewards. It is about recognition. Recognition of the mechanic who insists on quality. The driver who chooses protection for their vehicle. The everyday Nigerian who believes in the strength of local excellence. With every drop of AP Lubricants, Ardova is not only fuelling engines, but also reinforcing relationships.” Mr. Olajide said.

A Tradition of Trust, A Future of Value
Over the years, AP Lubricants has become a trusted name in engine protection—formulated with advanced technology, tested for Nigerian roads, and trusted by discerning customers. This promotion underscores AP’s continued commitment to delivering premium quality, while also showing heartfelt appreciation for customers’ consistent trust in the brand.
As the campaign kicks off, AP invites all motorists, mechanics, and loyal customers to visit retail stations to enjoy the benefits of choosing a brand that gives back.
Because with Ardova, it’s more than just performance—it’s partnership.

The AP Visco 2000 Instant Reward Promo runs from August 1, 2025 to December 31, 2025, while promo stocks last. Terms and conditions apply. Visit www.ardovaplc.com or follow on social media for more information.

Ardova Plc is a Nigerian leading indigenous and integrated energy company involved in the distribution of petroleum products.