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The Business NG - June 09, 2025

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In this issue

What BusinessNG Newspaper Editorial Today

The editorial published by BusinessNG is sparking significant discourse and investor action within Nigeria’s financial ecosystem, particularly in the banking sector. With its detailed focus on the ongoing recapitalisation efforts, the editorial has helped spotlight the rapid pace at which Nigerian banks are moving to meet the Central Bank of Nigeria’s (CBN) stringent new capital requirements.

By highlighting investor confidence and the oversubscription of major rights issues, the piece has amplified positive sentiment around the banking industry. Notably, it points to Access Holdings’ N351 billion capital raise and UBA’s oversubscribed N251 billion rights issue—milestones that signal deepening trust in the financial system’s resilience and long-term viability. Analysts at BusinessNG suggest that this investor enthusiasm is not only a reaction to regulatory pressure but a broader endorsement of the sector's growth potential.

As a result, the editorial is driving fresh conversations among policymakers, analysts, and stakeholders, encouraging broader participation in bank recapitalisation and reinforcing the narrative of economic stability and investor optimism.

FG Unveils New Rail Plan to Link More Cities

The federal government is set to unveil an ambitious railway expansion programme that will connect more Nigerian cities than ever before, according to Kayode Opeifa, managing director of the Nigeria Railway Corporation (NRC).

1 mins

Post-Eid: Petrol May Drop to 800 Soon - Marketers

Litre, compared to 910 just weeks ago.

1 mins

Nigerian Market Jumps 2.57%, Index Tops 114,600 in Early June Rally

The Nigerian Stock Exchange (NSE) All-Share Index broke through the 114,500 level, closing at 114,616.75 on June 5, 2025.

1 mins

Trial of Wema Bank Staff Over Alleged N8.5bn Cyber Heist Stalled by Eid Holiday

The scheduled trial of three staff of Wema Bank Plc and four others accused of hacking into the bank's server and illegally transferring a staggering N8.568 billion has been stalled due to the Eid-el-Kabir holiday declared by the Federal Government.

1 mins

Petrol Subsidy Scam: Two Jailed for N2.2bn Fraud

After more than a decade of probes, court drama, and political cover-ups, Nigeria is finally beginning to put names and faces to what is arguably the country's costliest fraud: the petrol subsidy scam.

1 mins

The underdevelopment of Ijebu-Jesa, my Native Nazareth (1)

I am an angry Nigerian! I am angry because Ijebu-Jesa, my hometown, is a town where the past and present intersect in a complex blend of tradition and modernity.

5 mins

FX Inflows into Nigerian Market Jump 62% in May

Foreign currency inflows into Nigeria's foreign exchange (FX) market soared by 62% in May 2025, reaching $5.96 billion—up from $3.67 billion in April—driven primarily by a surge in local dollar supply, according to data from FMDQ and analysis by Cordros Capital Limited.

1 mins

Africa's Trillion-Dollar Banks Still Can't Fund Development – AFC

Despite commanding over $2.5 trillion in total assets, Africa's banking sector lacks the capacity to finance the continent's infrastructure and industrial needs, according to the 2025 State of Africa's Infrastructure (SAI) report released by the Africa Finance Corporation (AFC).

1 mins

China's Foreign Reserves Climb to $3.38 Trillion

China’s foreign exchange reserves rose by $3 billion in May 2025 to reach $3.2853 trillion, according to official figures from the State Administration of Foreign Exchange (SAFE).

1 mins

Land Reforms Key to Urban Growth, Job Creation - Wale Edun

The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has reaffirmed the Federal Government's commitment to land reforms as a critical enabler of urban renewal, job creation, and increased revenue for states.

1 mins

Ecobank Appoints Ayo Adepoju as Group Executive Director

Ecobank Transnational Incorporated (ETI) has appointed Ayo Adepoju, the Group Chief Financial Officer (CFO), as Group Executive Director effective June 4, 2025. The appointment was confirmed by the bank's Board of Directors.

1 mins

Stanbic IBTC Holds Pension Lead with N4tn AUM, N8.7bn Profit as Access Gains Ground

As Access Holdings consolidates its pension business with a series of bold acquisitions—culminating in the 152 billion purchase of ARM Pension Managers—Nigeria's pension industry is witnessing a fierce power shift.

1 mins

NCRIB Inducts 84 New Members, Charges Them on Professionalism

The Nigerian Council of Registered Insurance Brokers (NCRIB) has inducted 66 individual and 18 corporate members into its prestigious associateship, marking a milestone in professional development within Nigeria's insurance broking industry.

1 mins

Experts Push Early Planning, Inclusivity at Retirement Summit

Key stakeholders in Nigeria's insurance and pension industries have issued a resounding call for urgent reforms, early personal planning, and inclusive product development to ensure retirees can achieve stability in the face of economic headwinds.

1 mins

Why 38% of Lagos Residents Reject Insurance

Despite its economic potential, Nigeria's insurance sector continues to lag, with fewer than 3% of the population insured—far below emerging market averages. This leaves millions exposed to financial shocks and economic instability.

1 mins

AIICO, NEM Lead Nigerian Insurers as Industry Shareholders' Funds Jump 41%

In a significant boost to Nigeria's insurance sector, the 2024 audited financial reports of publicly listed insurers show a combined 41% increase in shareholders' funds, rising to N452.77 billion from N320.67 billion in 2023.

2 mins

Stocks Surge: Investors Pocket N1.81trn in Four-Day Rally

In a remarkable show of market strength, Nigerian equities investors raked in a massive N1.81 trillion gain in just four trading days, fuelled by a broad-based rally across key sectors.

1 mins

Fitch Lifts FCMB's Rating to 'B' on Stronger Buffers

Fitch Ratings has upgraded First City Monument Bank (FCMB) Limited's Long-Term Issuer Default Rating to 'B' from 'B-' and its National Long-Term Rating to 'A(nga)' from 'BBB+(nga), citing improved operating conditions in Nigeria and the bank's enhanced capital position. The outlook is stable.

1 mins

Nigeria's Islamic Finance Set for Growth as Sukuk Market Expands - Fitch

Nigeria's Islamic finance industry is poised for accelerated growth through 2026, driven by renewed sovereign sukuk issuances, a surge in Islamic banking assets, and recent regulatory reforms, according to a new Fitch Ratings commentary.

1 mins

SEC Warns Public Against $PUN Meme Coin

Nigeria’s Securities and Exchange Commission (SEC) has issued a strong warning to investors against participating in the ongoing presale of Punisher Coin, also known as $PUN, citing regulatory breaches and significant investment risks.

1 mins

Dollar Inflows into Nigeria Jump 62% as Exporters, Investors Regain Confidence

Nigeria recorded a remarkable 62% surge in foreign currency inflows into its foreign exchange (FX) market in May 2025, signaling a return of investor confidence and increased activity from local exporters and corporates.

1 mins

Sukuk Gains, Dollar Flows Signal New Confidence in Nigerian Markets

Nigeria's capital markets show renewed optimism as foreign currency inflows surged 62% in May 2025 alongside a strong comeback of sovereign sukuk issuance. These trends reflect growing investor confidence driven by economic reforms, FX market liberalisation, and regulatory support for Islamic finance. Despite challenges, the gradual expansion of non-interest banking and sukuk markets signal structural progress in Nigeria's financial landscape.

3 mins

Sugary Drinks, Fried Foods Driving Oral Cancer - UI Professor

Pro-inflammatory diets rich in sugary drinks, refined carbohydrates, processed meats, and fried foods are among the leading causes of oral cancer, says Professor Victor Ifeolu Akinmoladun of the University of Ibadan.

1 mins

FG Endorses Measles-Rubella Vaccine Campaign for October

The Federal Government has declared strong support for the upcoming nationwide Measles-Rubella (MR) vaccination campaign scheduled for October 2025, pledging widespread public awareness efforts to ensure its success.

1 mins

Some Nigerians Genetically Resistant to HIV - Dr Osifo

A Nigerian medical doctor, Dr Iyayi Osifo, has shed light on a rare genetic mutation that gives certain individuals natural resistance to HIV infection, sparking renewed public interest in the science behind immunity to the virus.

1 mins

Babcock Expels Student Once Declared Missing, Cites Cult Ties, Drug Peddling

Babcock University has confirmed the expulsion of Oladipupo Siwajuola, the student earlier reported missing by his mother, citing multiple grave violations of school rules, including drug peddling, impersonation, and engagement in occult practices.

1 mins

MOUAU Warns of Fake Admissions, Confirms Full Accreditation for Business Courses

Michael Okpara University of Agriculture, Umudike (MOUAU), Abia State, has raised an alarm over a fraudulent admission scheme targeting unsuspecting candidates who scored 150 and above in the 2025 Unified Tertiary Matriculation Examination (UTME).

1 mins

WAEC Denies Cancelling English Exam, Warns Against Fake News

The West African Examinations Council (WAEC) has debunked widespread rumours that it has cancelled the English Language paper written on May 28, 2025, during the ongoing West African Senior School Certificate Examination (WASSCE).

1 mins

Customs Boss Calls for Security-Focused Reforms

The Managing Director of Mickey Excellency Nigeria Limited, Otunba Abdulazeez Babatunde Mukaila, has called on the Nigerian government to redefine the role of the Nigeria Customs Service (NCS), warning that the Service must evolve beyond revenue collection to combat modern security threats.

1 mins

Transport Reforms Applauded as NRC, NPA Ease Eid Traffic

Efforts by the Nigerian Ports Authority (NPA) and Nigerian Railway Corporation (NRC) to streamline transport logistics have received public commendation, as truckers and commuters hailed the interventions for easing gridlock during the Eid Kabir season.

1 mins

New Fees for Driver's Licenses, Number Plates Kick Off Nationwide

Nigerians will from today, Sunday, June 8, 2025, begin paying significantly higher fees for driver's licenses and number plates, following the nationwide implementation of a new pricing structure approved by the Joint Tax Board (JTB).

1 mins

Truckers Endorse NPA's E-Call-Up, Hail Gridlock Relief

The Association of Maritime Truck Owners (AMATO) has thrown its weight behind the Nigerian Ports Authority (NPA)'s electronic call-up system, describing it as a landmark success in addressing gridlock around the Apapa and Tin Can port corridors.

1 mins

Lagos Dislodges Street Traders, Arrests Three

The Lagos State Government on Saturday dislodged illegal street traders operating on the median of Ojo-Alaba Road, arresting three individuals who obstructed the enforcement operation.

1 mins

Customs Must Fight Terror, Not Just Collect Tax — Mukaila

The Managing Director of Mickey Excellency Nigeria Limited and former Sole Administrator of the Association of Nigerian Licensed Customs Agents (ANLCA), Otunba Abdulazeez Babatunde Mukaila, has urged the federal government to redefine the role of the Nigeria Customs Service (NCS) beyond revenue generation, stressing the urgent need to confront security threats linked to arms smuggling, narcotics, and terrorism.

1 mins

Tinubu's Cost-Cut EO Sets New Era for Nigeria's Oil Industry

President Bola Tinubu's new Executive Order on upstream petroleum operations aims to transform Nigeria's oil sector by rewarding companies that cut operational costs below government benchmarks with tax credits. OMOLARA AKINPELUMI writes that this innovative policy fosters efficiency, transparency, and investment, addressing longstanding challenges of high production costs. If implemented effectively, it could revitalize the industry, enhance competitiveness, and boost government revenues, setting a new standard for Africa's largest oil producer.

5 mins

Anambra Moves to Seize Homes Used for Child Begging

The Anambra State Executive Council (ANSEC) has resolved to confiscate and seal off premises used to house child beggars, in a decisive move against crime and exploitation.

1 mins

Organisation promotes entrepreneurship among young people

The sixth edition of Lagos Young Entrepreneur Awards (LAYEAWARDS 2025) is set to commence later this year by September. It aims to inspire younger generations of entrepreneurs, reward hard work, promote entrepreneurship and raise awareness about the key roles business owners play in building the economy of Lagos State to fifth largest economy in Africa.

1 mins

Equipped Security Agency: Criminals Don't Sit and nd Snore - Ade Abolurin Advised FG

Former Commander General Of Nigeria Security And Civil Defense Corp (NSC-DC) has advised the Federal government of Nigeria and the Chief of defense to furnish security agency with relevant information and equipment as criminals Don't sit and snore.

1 mins

Ireland Deports 35 Nigerians, Including Five Children

The Irish government has deported 35 Nigerian nationals, including five children, in a chartered flight operation that departed Dublin Airport on Wednesday night and arrived in Nigeria on Thursday.

1 mins

Foundation reviews strategies to tackle Al challenges in Entrepreneurship

As a means to move entrepreneurship to its best in Nigeria, Joan Agha Foundation has reviewed strategic ways to tackle Al Challenges in Entrepreneurship during her 10th Entrepreneurship Lecture for Women and Youths.

1 mins

Chelsea Close to Sealing €60m Gittens Transfer Ahead of Club World Cup

Chelsea have agreed personal terms with Borussia Dortmund winger Jamie Gittens, aiming to finalize the €60 million deal before this month's FIFA Club World Cup, according to RMC.

1 mins

Odemwingie Praises Arokodare's Clever Play in Nigeria's Draw with Russia

Former Super Eagles striker Peter Odemwingie has singled out Tolu Arokodare for his sharp play during Nigeria's 1-1 friendly draw with Russia on Friday.

1 mins

Al Hilal Books Medicals for Osimhen After Agreeing €75m Deal

Al Hilal have scheduled travel and medical appointments for Victor Osimhen following the agreement of a €75 million deal with Napoli.

1 mins

Chelle Urges Moses Simon to “Calm Down” Amid Relentless Passion

Super Eagles head coach Eric Chelle has revealed that he often tells Moses Simon to “calm down” due to the winger’s intense eagerness to represent Nigeria.

1 mins

Ronaldo Reveals He Once Translated for Messi Due to Language Barrier

Football legend Cristiano Ronaldo has opened up about his long-standing relationship with Argentine superstar Lionel Messi.

1 mins

Ronaldo Confirms He Will Skip FIFA Club World Cup

Portuguese football legend Cristiano Ronaldo has confirmed he will not be participating in this month's FIFA Club World Cup.

1 mins

Cracks in Lagos Dynasty

In the elaborate theatre of Nigerian politics, drama is never in short supply. The stage is often crowded with actors playing multiple roles—loyalists today, saboteurs tomorrow. The plots twist with such speed and ferocity that even the principal characters sometimes lose the script.

5 mins

Read all Stories from The Business NG

The Business NG Description:

Publisher: Tuns-Media-&-Comm-Enterprise

Category: Newspaper

Language: English

Frequency: Weekly

The BusinessNG, a leading business news publication across Nigeria and WestAfrica With a strong team of 30 staff members and a weekly print circulation of over 10,000 copies, we are poised for growth and report all political relating to business news at all level