In furtherance of its commitment to connecting students and early- to mid-stage professionals with experienced mentors for career and personal development guidance, the Nasir Giwa Mentorship (NGM) platform has hosted its fourth annual youth conference.
Themed “Bold Ideas, Fearless Execution,” the conference, which was held in Lagos, brought together thousands of students, young and experienced professionals from different parts of the country to exchange insights on innovation, leadership, and career growth.
Group Managing Director of Sahara Power Group and Chairman of Ikeja Electric, Mr. Kola Adeshina, urged young Nigerians to dream big, develop bold ideas, and push boundaries in business and leadership.
He, however, noted that ideas must have practical and economic value to drive sustainable impact, stressing that “an idea that cannot be monetised is a useless idea.”
Managing Partner at Verraki, a business solutions company, Mr. Niyi Yusuf, charged the attendees to move from a scarcity mindset to a growth mindset, urging them to embrace continuous learning, collaboration, and innovation as pathways to unlocking opportunities and achieving excellence in their chosen fields.
Among the industry leaders who also spoke at the conference are Bashir Koledoye, Founder/Managing Director, Dharmattan Nigeria Limited, Sarwi Rahaman, Head of Public Sector Sales, Airtel Nigeria, Fiyin Ogunlesi, Founder, RegalStone Capital, and Idris Ayodeji Bello, Founder, LoftyInc Capital.
Others are Mohammed Bashir-Yunusa, Director of Innovation and Digital Business Solutions at Alternative Bank, Rashidat Adebisi, Chief Client Officer, AXA Mansard, Deepankar Rustagi, Founder/CEO, OmniRetail Technologies, and Temitope Yusuff, Director, Internal Audit and Risk Management, IHS Tower.
They all emphasised the importance of quality education, continuous training, mentorship, resilience, and collaboration in achieving success in today’s competitive environment.
Grand Mentor and Convener of the NGM Platform, Engr. Nasir Giwa, said the initiative would continue to empower young people with the skills and platforms to excel in their careers and drive meaningful change in their respective domains. “At NGM Platform, empowerment is not a theory; it is a practice,” he noted.
The highlight of the conference was the presentation of cash prizes to winners of the SME Pitch Competition, Case Study contest, and Ideas Fair, where secondary students showcased their different innovative ideas and solutions.
Students from Al-Raheem International School won the Idea Fair contest for secondary school students with their Food Bank idea. The winner of the SME Pitch competition was rewarded with N1 million, while the first and second runners-up got N750,000 and N500,000, respectively. The cash prizes were sponsored by Alternative Bank, and each cash prize was doubled by LoftyInc Capital.
Adil Gbadegesin and Hameedat Imran won the Case Study contest with their project titled ‘The Rite Approach: Conquering African Markets.’
The conference ended with networking sessions and mentorship sign-ups aimed at fostering long-term professional relationships between mentors and young participants.
Africa’s first sustainable recycling festival, Artistic Pulse Festival (APF) is set to celebrate the best of Nigeria’s creativity, culture, and commerce.
Scheduled from December 3-7 at the Remembrance Arcade, Tafawa Balewa Square (TBS), Lagos, the festival promises to be a vibrant display of art, music, fashion, food, film, and technology.
The five-day festival will feature symposiums, debates, creative workshops, a children’s art gallery and play zone as well as performances from local and international artists.
It aims to promote sustainability through recycling initiatives, underscoring the role of creativity in environmental responsibility.
Themed: “Footprints of Interconnectivity, Growth and Expansion: Creativity, Culture, Commerce and Innovation,” APF aims to fuse entertainment with sustainability, offering a platform for young creatives, entrepreneurs, and local communities to connect and thrive.
Convener of the festival who doubles as Vice Chair NACCIMA Creative Economy and Immediate past Chairperson LCCI Creative and Entertainment Group, Dr Ngozi Omambala AMBP-UN, highlighted the event’s role in bridging Nigeria’s creative ecosystem with global markets.
Omambala, a seasoned creative professional and member of the Lagos Chamber of Commerce and Industry (LCCI) and NACCIMA, stressed that the festival seeks to position Nigeria’s creative industry as a major economic driver.
“We need festivals like this to be put on the map so that we can create tourism, create jobs, and drive the community with trade fairs where everybody contributes positively to the economy,” she said.
Omambala, who has worked extensively across the African entertainment landscape, explained that the Artistic Pulse Festival was born from the need to integrate and streamline Nigeria’s creative sectors — from art to fashion, music to film — into a coherent, growth-driven industry.
“Our creative sectors are on the global map,” she said. “We’re generating tourism, generating jobs. With a population of 230 million and 60 to 70 percent under 30, we have a huge human capital resource. It’s about belief, collaboration, partnerships, and creativity — being at one with everybody.”
She also addressed the growing trend of Nigerian artists performing more abroad than at home, urging them to reconnect with their roots.
“It’s not a criticism, it’s an observation,” Omambala stated. “We love to see our artists abroad, but we also need them at home. That’s why the strapline for the Artistic Pulse Festival is ‘Home is where the heart is.’ It goes on to say, ‘Join the movement. Feel the pulse.’”
Ms. Yemisi Ransome-Kuti, co-founder of Lagos Island Connect and long-time advocate for local development, described the festival as “an expose of the soul of a city.”
She said, “Every aspect of human activity is focused on, enlarged, portrayed, and projected to the world, this is like you as a person telling the world, ‘Come, this is who I am. Come and feel us. Come and enjoy and savour the gorgeous and awesome things we have to offer as a nation in this venue.”
Ransome-Kuti emphasized the importance of the festival in strengthening community ties and creating opportunities for economic and social inclusion.“It is important to engage and ensure that this activity benefits the community. It impacts the environment positively. The investment and the benefits that come out of it should not just be for the organisers, but for the entire community locally in the short term and then in the long term as well,” she noted.
Chairman of Lagos Chamber of Commerce and Industry (LCCI), Gabriel Idahosa highlighted the sole importance of promoting the Nigerian culture, using home made products as the country gears towards a sustainable economy.
He said, “Promoting Nigerian culture and embracing locally made products is not just an act of patriotism — it is a strategic investment in our nation’s economic future. Every time we choose Nigerian goods, we create jobs, empower entrepreneurs, and strengthen the value of our heritage. Our culture and creativity are among our greatest assets, and showcasing them to the world is key to building a more inclusive and sustainable economy.”
Also speaking at the briefing, Ms. Shade Bembatoum-Young, Honorary Life Vice President of the Lagos Chamber of Commerce and Industry (LCCI), emphasized the festival’s significance in promoting Nigerian-made products and preserving cultural identity.
“Nigeria’s cultural values are rooted in community, creativity, and craftsmanship,” she said. “Promoting homegrown products is not just about economics — it’s about pride in who we are. The Artistic Pulse Festival celebrates that spirit by showcasing local innovation and sustainable enterprise on a global stage.”
In recent years, Nigerian investors have shown growing interest in opportunities beyond the traditional forex market. While currency trading remains popular, many market participants are now exploring instruments that offer diversified exposure and potentially lower risk. One such area gaining significant traction is indices trading.
Indices trading is emerging as a preferred choice for Nigerian investors who want to participate in the broader performance of markets rather than focusing on individual companies or currencies. With the right approach, they offer a way to spread risk, track economic trends, and build a more stable investment portfolio.
Understanding What Indices Trading Means
An index is a basket of selected stocks that represents a segment of the market. For example, the S&P 500 tracks 500 large companies listed in the United States, while the FTSE 100 measures the performance of 100 major companies in the UK. When you trade indices, you are speculating on the overall movement of that basket rather than buying individual shares.
For Nigerian investors, this approach offers a unique advantage: it provides access to global markets and sectors without the need to research every single company in detail. Instead, you follow the collective performance of a group of assets.
Why Indices Are Viewed as Safer
Several factors are making indices a safer choice for Nigerian investors this year.
Built-In Diversification
An index spreads exposure across many companies. This means that if one company underperforms, it is often balanced by stronger performance from others within the same index. In contrast, holding a single stock can result in sharp losses if that company experiences trouble.
Lower Sensitivity to Local Volatility
Indices that track international markets, such as the NASDAQ 100 or DAX 40, are less affected by local Nigerian economic events. For investors seeking to reduce exposure to domestic currency fluctuations or policy changes, global indices can provide an effective hedge.
Access to Established Economies
Many leading indices are tied to stable economies with strong corporate governance. Investing in these markets can provide more predictable long-term trends compared to highly volatile individual assets.
How Nigerian Investors Can Participate
Accessing indices has become easier thanks to online brokers offering contracts for difference (CFDs) and exchange-traded funds (ETFs). This means you can trade on the price movement of an index without physically owning its underlying stocks.
For example, using a regulated broker platform, you can go long (buy) if you expect an index to rise or go short (sell) if you anticipate a decline. This flexibility allows you to benefit in both rising and falling markets.
Tools and Strategies for Successful Indices Trading
While indices tend to be less risky than individual stocks, they still require skill and planning. Nigerian traders are adopting several practices to improve their success rates:
Economic Calendar Monitoring – Keeping track of global events, earnings seasons, and central bank announcements.
Technical Analysis – Using chart patterns, moving averages, and trend indicators to identify entry and exit points.
Risk Management – Applying stop-loss and take-profit levels to lock in gains and limit losses.
Sector Rotation Awareness – Understanding how certain sectors within an index perform in different economic conditions.
Case Example: Nigerian Trader Using Indices for Stability
Consider a Lagos-based investor who has traditionally traded the USD/NGN currency pair. Over the past year, they noticed increasing volatility due to shifts in oil prices and local monetary policy. To reduce exposure, they allocated part of their trading capital to the S&P 500 index through a CFD broker.
By doing so, they benefited from the upward trend in US technology and healthcare stocks, balancing out losses in their currency trades. This shift not only stabilised their portfolio but also provided access to a wider range of growth opportunities.
The Role of Education and Broker Selection
For Nigerians entering the indices market, knowledge is as important as capital. Many online platforms now offer free webinars, trading courses, and market analysis tools designed for local traders. These resources help investors understand market behaviour and develop strategies suited to their goals.
Equally important is choosing the right broker. A reliable provider should offer transparent pricing, tight spreads, strong regulatory oversight, and fast execution. Local deposit and withdrawal options can also make trading more convenient.
Advantages Specific to Nigerian Investors
Indices trading aligns well with the goals of many Nigerian investors because it:
Reduces reliance on the performance of any single company or asset.
Offers exposure to global economies without the complexities of direct overseas investment.
Allows for flexible position sizes, making it accessible to both small and large capital traders.
Can serve as a diversification tool alongside forex, commodities, and cryptocurrency investments.
Looking Ahead: Indices in the Nigerian Investment Portfolio
As 2025 progresses, more Nigerians are expected to include indices as a core part of their investment portfolios. The combination of global exposure, reduced volatility, and improved accessibility through mobile trading apps makes them attractive for both new and experienced traders.
While no investment is entirely risk-free, indices provide a balance between opportunity and stability that is hard to match in fast-moving financial markets. For investors who are disciplined, informed, and strategic, indices can be a key pillar in building sustainable wealth.
Final Word
In Nigeria’s evolving trading landscape, indices are becoming more than just an alternative. They are a strategic choice for managing risk and accessing global growth. By learning the mechanics of the market, using the right tools, and selecting trusted brokers, Nigerian investors can take advantage of the opportunities that indices offer while maintaining a balanced and secure approach to trading.
The Executive Director and Chief Executive Officer of the Nigerian Export Promotion Council (NEPC), Mrs. Nonye Ayeni, has described informal cross-border trade (ICBT) as a “dynamic and indispensable part of Nigeria’s trade landscape,” calling for stronger efforts to formalise and support the sector.
Ayeni, represented by the Acting Regional Coordinator, Lagos South West, Mrs. Bolanle Emmanuel, spoke in Ibadan at a one-day technical session on mainstreaming informal cross-border trade through informal trade statistics for market entry, export procedures, and documentation.
According to her, ICBT involves thousands of small-scale traders—mostly women and youths—who engage daily in agricultural, manufactured, and artisanal goods trade across Nigeria’s borders. “This trade sustains livelihoods, supports regional food security, and strengthens economic ties across West Africa,” she noted.
She lamented that most of these activities occur outside formal channels, making their economic value largely unrecorded. “Nigeria’s true non-oil export value is higher than what official figures indicate,” she said.
To address this, Ayeni informed NEPC is partnering with the National Bureau of Statistics (NBS) to collect data along major border corridors to quantify trade volumes, identify key products, and guide policy formulation.
She added that the Council has embarked on advocacy visits to border communities in Oyo and Kebbi States to understand traders’ challenges, including poor infrastructure, limited finance, and cumbersome documentation processes.
“NEPC is committed to empowering border traders through training on export documentation and simplifying compliance processes to integrate them into Nigeria’s export registry,” she affirmed. “With credible data and collaboration, we can unlock billions in export value, create jobs, and achieve our vision to ‘double your export.’”
In her technical presentation, Miss Anne Adulugba highlighted that non-oil exports grew by 20.86% in 2024, reaching 7.29 million metric tonnes valued at USD 5.46 billion, compared to 6.68 million tonnes worth USD 4.51 billion in 2023.
She said sustaining this growth required formalising informal trade. “ICBT accounts for 30–40% of total trade in Sub-Saharan Africa,” Adulugba said. “Capturing and using this data helps traders gain visibility, access finance, and expand markets.”
Another presenter, Tochukwu Uzolo, said integrating informal trade statistics would enhance market entry strategies and product targeting. “Formalising trade brings multiple benefits—better foreign exchange earnings, reduced smuggling, improved data, and compliance with global standards,” she added.
Mr. Iyanuoluwa Ajayi stressed that proper documentation is the foundation of successful exports. “In international trade, documents are as important as the cargo,” he said.
Similarly, Mrs. Bunmi Omoyemi urged exporters to obtain documents from the right agencies, warning that incomplete paperwork can lead to delays, detention, or rejection. “Export is incomplete until proceeds are repatriated,” she concluded.
Deputy Comptroller of Customs, Paul Pansuak Goar, in his presentation on “The Roles of the Nigeria Customs Service (NCS) in Import and Export Regulations,” described international trade as “the lifeblood of every economy,” stressing that Customs plays a central role in regulating and facilitating lawful trade.
“The Service is not just about revenue collection; it ensures border security, prevents smuggling, enforces trade policies, and promotes legitimate trade,” he said.
Goar explained that the NCS enforces import regulations to ensure only approved goods enter the country, overseeing documentation such as the Form M, Bill of Lading, and Pre-Arrival Assessment Report (PAAR).
“We ensure proper valuation and classification using the Harmonised System Code to prevent under-declaration,” he added.
On exports, he said traders must obtain NEPC certificates and Clean Certificates of Inspection, while Customs works with agencies like SON and NAFDAC to ensure product quality. He also highlighted the Trade Modernisation Project, which is digitising Customs operations to improve transparency and efficiency.
“Partnerships with the World Customs Organization and AfCFTA are positioning Nigeria for greater benefits in global and regional trade,” Goar said. However, he advised exporters to engage in proper planning to maximise opportunities under AfCFTA.
During an interactive session, participants sought clarifications on challenges affecting cross-border trade. Responding to a question from Abidemi Agbaje on container accidents, Goar explained that such incidents are not within Customs’ responsibility. “Once containers are released, they cease to be Customs property; most fallen containers are empty,” he clarified.
To a question from Adekunle Oke on formalising informal trade, Goar advised traders to complete export forms on the NXP website or seek assistance from their banks.
A cassava exporter, Captain Ayo Adepoju, asked about access to official Customs rates. Goar responded that the rates are publicly available and urged exporters to “arm themselves with accurate information to avoid exploitation.”
Another participant asked what NEPC was doing beyond capacity building. Emmanuel responded that the Council provides free international product certifications to registered exporters to facilitate global acceptance of Nigerian goods.
She also encouraged those interested in AfCFTA to study the AfCFTA eBook and understand the rules of origin and product eligibility. “They must comply with trade regulations to benefit fully from the continental market,” Emmanuel added.
Delivering a goodwill message, Dr. Ayobami Omotoso, President-General of Okerete Transnational Border Town Markets and Industries, commended NEPC for organising the session in Ibadan, noting the city’s strong trading culture. He also praised NEPC’s interventions in formalising trade in commodities such as cashew and shea butter.
“NEPC’s support in establishing and certifying factories has been crucial. The shea butter facility now produces 40 MT monthly to international standards,” Omotoso said.
Mr. Mutiu Ojerinde, representing the Nigerian Shippers Council, lauded NEPC’s collaboration with the Council. “Both agencies are working to deepen cooperation and ensure seamless trade along border routes,” he stated.
Izili, formerly known as Baobab+, has marked its 10th anniversary.
The firm renewed commitment to driving energy access and digital inclusion across Africa.
The celebration comes alongside the company’s rebranding, symbolising a new chapter in its mission to make affordable energy and technology available to all, even in the most remote communities.
Founded in 2015 within the Baobab Group, Izili was established on the conviction that access to energy and digital tools is key to unlocking the potential of African households, entrepreneurs, and communities.
The company, which operates in Senegal, Côte d’Ivoire, Madagascar, and Nigeria, has distributed over 700,000 solar and digital products, directly impacting more than 2.5 million lives across the continent.
Its flexible financing options, last-mile distribution model, and partnerships with major players such as Baobab, Lapo, Nim, MTN, Orange, and Moov Africa have contributed to this success.
Earlier this year, Izili entered a new growth phase following the acquisition of majority shares by BioLite, a global manufacturer of off-grid solar solutions.
The move is expected to strengthen Izili’s capacity to deliver locally adapted, durable, and cost-effective solar and digital products.
Chief Executive Officer of Izili Group, Kolawole Osinowo, said the rebrand reflects the company’s continued dedication to improving lives.
“For ten years, we’ve been working to improve our customers’ daily lives.
“With Izili, we are reaffirming our mission: to bring access to solar energy and digital solutions to everyone, everywhere. We are Izili. We energise lives. We connect communities,” he stated.
First City Monument Bank (FCMB), a subsidiary of FCMB Group Plc, has launched a new feature on its Mobile App that allows customers to open investment accounts and invest directly in mutual funds managed by FCMB Asset Management, the Group’s wealth creation arm.
This development marks another significant step in FCMB Group’s ongoing digital transformation, a strategy focused on integrating all its business verticals into a single, full-service financial ecosystem that empowers customers to bank, invest, and grow wealth seamlessly.
With the new in-app investment feature, customers can now access FCMB Asset Management’s range of mutual funds — including the low-risk Legacy Money Market Fund, the growth-oriented Legacy Equity Fund, the predominantly local-currency bond-holding Legacy Debt Fund, and the Legacy USD Bond Fund for dollar-denominated investments. These options cater to different risk appetites and financial goals, from short-term liquidity to long-term capital appreciation or steady income generation.
Yemisi Edun, Managing Director, First City Monument Bank, said:
“What we are building goes beyond digital convenience. It is about creating a connected ecosystem where banking, payments, and investments work together to serve customers’ broader financial needs. By integrating mutual funds into the FCMB Mobile App, we extend that ecosystem, enabling customers to move seamlessly from saving to investing within one trusted platform.”
“Our mission is to democratise access to investment opportunities and make wealth creation simple and inclusive. By bringing mutual funds to the FCMB Mobile App, we enable anyone, anywhere, to start investing confidently and build sustainable financial futures.”
The integration of mutual fund services into the FCMB Mobile App aligns with FCMB Group’s broader goal of creating a digitally inclusive financial ecosystem that connects banking, investment, and asset management under one trusted platform to drive long-term value for individuals and communities.
Customers can download or update the FCMB Mobile App from the Google Play Store or Apple App Store today to begin investing.
In a bold move to strengthen Africa’s growing freelance economy, fintech startup Gigbanc has launched the Global Talent Fellowship, a new initiative designed to equip top African freelancers and digital creators with the skills and global exposure to earn at least $3,000 monthly.
The 12-week fellowship, announced on Monday, October 20, 2025, targets young professionals in design, coding, and content creation who have demonstrable talent but lack international visibility.
Participants will receive mentorship from global industry leaders, work on real client projects, and join a network focused on reinvesting earnings locally, by hiring peers or starting new ventures.
Chief Executive Officer of Gigbanc, Paul Omoregie, said the programme was developed to bridge a persistent gap between African talent and global opportunities.
“Africa is full of extraordinary talent. What has been missing is the bridge, the opportunity that connects global demand with the right mentors. The Gigbanc Global Talent Fellowship is that bridge,” Omoregie said in a statement.
Applications are open on www.gigbanc.co until November 15, 2025, with only 20 candidates to be selected for the maiden cohort based on skill, creativity, and potential community impact.
The initiative comes amid Africa’s expanding gig economy, which is projected to hit a $65 billion valuation by the end of 2025. Despite the growth, many freelancers still earn below international rates due to limited access to global clients and payment systems.
In line with its mission to democratise opportunities, Gigbanc will also host Gigconnect 2025, a free, one-day networking and knowledge-sharing event scheduled for Saturday, October 25, at Zone Tech’s Ruby Hall, Lagos.
The event will feature expert talks, hands-on masterclasses, speed networking, and entertainment sessions designed to help creatives, tech talents, and entrepreneurs scale their freelance businesses.
Highlights include two high-level panel discussions—one on mastering global-ready skills and navigating cross-border payments, and another on positioning African talents for dollar-denominated gigs. A keynote address will examine technology’s role in expanding digital work and financial inclusion across the continent.
Participants will also take part in the Gig Hustle Challenge, a 60-second pitch contest offering cash prizes and mentorship opportunities. Other side attractions include trivia games, comedy, live music, and giveaways, with the day ending in an after-party at 6:30 p.m.
Gigbanc’s Head of Marketing, Habeeb Ajijola, said the fellowship and event align with the company’s broader vision of empowering African youth for the global workforce.
“The fellowship isn’t just about training; it’s about democratising access to global opportunities for Africans. We want to create a multiplier effect where fellows reinvest their earnings into their communities through hiring or mentorship,” he explained.
Since its founding in 2022, Gigbanc has processed millions of dollars in payouts for African freelancers through its cross-border payment solutions and virtual dollar cards, helping users bypass foreign exchange barriers.
With the new fellowship and Gigconnect 2025, the startup says it is expanding that support from financial inclusion to full-scale career acceleration—helping African talents compete and thrive in the global digital economy.
On October 13, 2025, FCMB Group Plc presented the facts behind its ₦160 billion public offer to capital market operators, investors, and other stakeholders at the Nigerian Exchange Group (NGX).
The offer marks a critical phase in the Group’s recapitalisation programme designed to strengthen its capital base, retain its international banking licence, and enhance shareholder value in line with the Central Bank of Nigeria’s new ₦500 billion capital requirement for international banks.
The Group CEO of FCMB, Ladi Balogun, presented the offer details during the “Facts Behind the Offer” session, showcasing the importance of the capital raise towards building a stronger and more resilient financial institution.
Balogun traced the Group’s history with NGX, highlighting how the exchange has facilitated approximately $863 million in capital raising since the bank’s inception, with recent rounds heavily supported by domestic investors. This confidence from local market participants is especially vital for economic stability and long-term sector growth.
Setting the capital raise against Nigeria’s improving macroeconomic backdrop, Balogun pointed to key indicators such as foreign reserves reaching a 10-year high, inflation dropping to near 20%, and the naira’s appreciation as signs of stability that buoy investor optimism. He projected that lower interest rates and Nigeria’s potential return to emerging market indices would drive increased foreign portfolio inflows and higher valuations, particularly in the banking sector.
Nigerian Exchange Group CEO, Jude Chiemeka, applauded FCMB’s proactive engagement with investors through this transparent communication platform.
He said: “We applaud FCMB’s proactive engagement with investors. The financial sector is critical to our economy, accounting for over 75% of daily trading on the NGX and contributing significantly, including ₦2.2 trillion in taxes over the last four years.”
Chiemeka highlighted the broader achievements of the exchange, including ₦4.6 trillion raised across various asset classes in H1 2025 and sustainability efforts such as green and social bonds issuance in partnership with the International Finance Corporation. He urged FCMB to deepen collaboration with NGX’s X-Academy on corporate governance and investor education, reinforcing the commitment to market development.
Speaking on FCMB’s strong H1 2025 Financial results, Balogun spoke to the restructuring which showed a 23% profit before tax increase and a 20.6% return on equity. He explained that “the cost of funds remains high due to the 50% cash reserve requirement, meaning half of deposits earn zero interest. Raising equity helps repay expensive deposits, effectively creating higher yields on that capital.”
He added: “Following FCMB’s 2024 capital raise, the bank’s net interest margin rose to 9.1% and return on equity reached the 20% range by mid-year. We expect a similar outcome after the new capital raise closes in November 2025, with funds deployed by Q1 2026 to further reduce fixed deposits.”
The FCMB Group CEO also reiterated Nigeria’s economic milestone, whereby GDP growth has finally outpaced population growth, a crucial shift for poverty reduction. “Sustained poverty reduction requires annual GDP growth of about 7%. The Central Bank of Nigeria is driving reforms that have supported this improvement,” he stated.
Balogun highlighted monetary reforms like the floating of the exchange rate and clearing a $7 billion FX backlog, which have improved foreign reserves and investor confidence. Encouraging shareholder participation, He urged investors, “to maintain or increase their investments to avoid dilution,” signalling a bullish outlook for Nigerian banks under these favorable conditions.
The strong performance of FCMB’s stock, which has surged by 395% since 2020, translating into a 70% compound annual growth rate, combined with the bank’s undervalued price-to-book ratio, signals significant upside potential for investors looking to capitalize on Nigeria’s evolving economic landscape.
Transcorp Hotels Plc (“Transcorp Hotels” or “the Company”) (NGX: TRANSCOHOT), the hospitality subsidiary of Transnational Corporation Plc (“Transcorp Group”), has announced its unaudited results for the 3rd quarter ended September 30, 2025, recording outstanding performance across key metrics.
The Company delivered ₦72.31 billion in revenue, a 49% increase from ₦48.49 billion in Q3 2024, while Profit Before Tax (PBT) surged 36% to ₦22.4 billion.
This strong performance reflects Transcorp Hotels’ sustained focus on operational excellence, cost efficiency and customer-centric innovation, reinforcing its leadership in Nigeria’s hospitality sector.
The recently commissioned 5,000-seat Transcorp Centre is fast positioning Nigeria as Africa’s hub for world-class Meetings, Incentives, Conferences, and Exhibitions (MICE).
Chairman, Transcorp Hotels Plc, Emmanuel Nnorom, said: “This impressive Q3 performance underscores our time-tested strategy focused on cost discipline, operational efficiency, and putting the customer at the heart of everything we do. We remain committed to delivering sustainable profitability and long-term value for our investors.”
Managing Director/CEO, Transcorp Hotels Plc, Uzo Oshogwe, added: “Our Q3 2025 results reflect our unwavering drive for excellence and our commitment to redefining hospitality in Africa.
“With the success of our newly commissioned 5,000-seat event centre, we are proud to be positioning Nigeria as the preferred destination for global conferences and events, while scaling sustainable value for our shareholders.”
With its iconic hospitality assets and dedicated team, Transcorp Hotels continues to strengthen its leadership in the sector, setting new standards for growth, innovation, and service excellence in the power, hospitality, and energy sectors. Transcorp Hotels is redefining hospitality standards in Africa through its businesses, including the iconic Transcorp Hilton Abuja, Nigeria’s flagship hospitality destination, and digital platform, Aura by Transcorp Hotels.
First City Monument Bank (FCMB) has been selected as one of the Participating Financial Institutions (PFIs) for the implementation of the Community Contractors Finance Scheme, an initiative of the Nigerian Content Development and Monitoring Board (NCDMB) in partnership with the Bank of Industry Limited (BoI).
The scheme is designed to bridge the funding and skills gaps hindering the capacity and growth of local contractors in the oil and gas industry. It offers loans of up to ₦100 million at a favourable interest rate of 8% per annum, enabling contractors to execute impactful projects within their host communities.
The Community Contractors Finance Scheme is one of five products under the Nigerian Content Intervention Fund, created by the NCDMB to empower local oil and gas contractors, grow the Nigerian oil and gas industry, and increase the sector’s contribution to the national economy. Remodelled in 2025 under the leadership of Engr. Felix Omatsola Ogbe, Executive Secretary of the NCDMB, the scheme reflects his broader goal of deepening the impact of local content implementation at the community level.
As a participating financial institution, FCMB is responsible for identifying, prequalifying, verifying contract performance, and disbursing loans to qualified indigenous contractors in the communities. The Bank will leverage its industry expertise, efficient credit processes, and strong relationships with International Oil Companies (IOCs) and National Oil Companies (NOCs) to deliver effectively. The loans are supported by innovative financing options such as invoice discounting and local purchase orders, offering flexible tenors ranging from 90 to 365 days to suit the diverse needs of contractors.
Managing Director and Chief Executive Officer of FCMB, Yemisi Edun, highlighted the significance of the initiative, describing it as a strategic commitment to unlocking the vast potential of the oil and gas sector.
“We appreciate the confidence placed in us by the Nigerian Content Development and Monitoring Board, the Bank of Industry, and all stakeholders. The Community Contractors Finance Scheme aligns with our mission to promote inclusive and sustainable growth by fostering a collaborative ecosystem that connects people, capital, and markets. Through this partnership, we expect to see significant benefits for communities, enhanced local content development, empowerment of community-based contractors, job creation, skills acquisition, improved security, and overall sustainable national development,” she stated.
A hallmark of the Community Contractors Finance Scheme is its accessibility, as it does not require traditional collateral. Instead, repayments are structured through domiciliation of contract proceeds, milestone-based disbursements, and diligent monitoring. This approach ensures that funds are effectively utilised to support critical oil and gas projects while focusing on the contractors’ unique needs.
