Daily Business Reporter

  Patrice Motsepe, Africa’s first Black billionaire, has seen his net worth decline by $800 million since the beginning of 2026, highlighting how fluctuations in equity markets and commodity-linked assets continue to affect the fortunes of even Africa’s wealthiest individuals. According to the Forbes Real-Time Billionaires Tracker as of July 19, 2026, Motsepe’s fortune has […]

  The Central Bank of Nigeria (CBN) has introduced the FX BDC Purchase Tracker (FXBT) and issued new operational guidelines requiring Bureau De Change (BDC) operators to resell any unused foreign exchange purchased from the official market within 24 hours after the approved utilisation period expires. The guidelines outline the procedures through which licensed BDCs

  First HoldCo Plc reached a new milestone on the Nigerian Exchange (NGX) after its shares climbed to an all-time high of ₦87.25, lifting the company’s market capitalisation above ₦3.8 trillion for the first time in its history. The rally further strengthens First HoldCo’s position as one of the best-performing banking stocks on the NGX

  The Securities and Exchange Commission (SEC) has launched a nationwide investor enlightenment campaign aimed at helping Nigerians recover unclaimed dividends and other outstanding capital market funds. The initiative was announced during a town hall meeting in Lagos on Thursday, July 16, and forms part of the Commission’s broader efforts to strengthen investor protection and

  The Central Bank of Nigeria (CBN) has set an ambitious target of increasing monthly diaspora remittances to $1 billion by the end of 2026, representing a nearly 67% increase from the current inflow of more than $600 million per month. CBN Governor Olayemi Cardoso disclosed the target while speaking at the BusinessDay CEO Forum

  Nigeria’s banking industry remained resilient in 2025, successfully navigating regulatory tightening, higher impairment charges, and macroeconomic headwinds while continuing to expand balance sheets and attract investor confidence. A defining development during the year was the Central Bank of Nigeria’s (CBN) recapitalisation programme, under which 33 of Nigeria’s 37 banks raised a combined ₦4.65 trillion,

  At the official market, the pound traded at about ₦1,855/£, up from ₦1,849/£ in the previous session. Meanwhile, the naira remained relatively stable against the US dollar, trading within the ₦1,375–₦1,380/$ range. The latest movement reflects the influence of global currency dynamics rather than a significant deterioration in the naira itself, as the Central

  Institutional investors executed block trades worth approximately ₦32.73 billion on the Nigerian Exchange (NGX) on Tuesday, July 14, 2026, highlighting a sharp increase in large-volume transactions by major market participants. The transactions were completed through 19 separate block trades involving seven listed companies, making it one of the busiest days for negotiated deals on