First Bank of Nigeria (FBN) News

Akeem Lawal, Divisional CEO, Switching & Processing, Interswitch. Credit: SlimTrader

Interswitch Nigeria Sees Delayed IPO Concluded by End-2019

Interswitch Ltd., a Nigeria-based payments-processing company, expects to complete its delayed dual listing in London and Lagos before the end of 2019.

Adesola Adeduntan, CEO, First Bank

Nigeria banks trying to stabilize 9mobile ahead of sale, FBN says

Nigerian lenders will try to stabilise the business of 9mobile, the country’s fourth largest telecoms group, until they can find new investors.

Funke Opeke, CEO, MainOne

MainOne CEO Funke Opeke on the challenges of and opportunities for investing in Africa

While many fear investing in Africa, one woman has not been afraid of doing so. Funke Opeke is the Founder and CEO of one of the continent’s largest ICT companies, MainOne.

Arnold Parker, Managing Director, AFB Ghana

Letshego acquires AFB Ghana in second West African acquisition

African finance group Letshego Holdings has acquired a 100% shareholding in AFB Ghana Plc. AFB is a licensed non-bank financial institution and offers innovative credit products to over 60,000 customers across its network of more than 25 branch and customer access points.

First Bank of Nigeria ATMs

How Nigeria's banks are innovating

Nigeria’s relatively significant exposure to the oil and gas sector increased pressures on balance sheets and operations.

Fashion-conscious Lagosians switch to online shopping

Fashion-conscious Lagosians switch to online shopping

Three years ago, MallforAfrica joined the raft of Nigerian tech start-ups attracting private equity and venture capital backing.

Ebi Atawodi, General Manager, Uber Lagos. Credit: marcopolis.net

Uber Partners First Bank to Offer Loans to Nigerian Drivers

Uber Technologies Inc. is partnering with FBN Holdings Plc’s First Bank Nigeria to provide loans to drivers.

Now is the time to buy Sub-Saharan African stocks

Now is the time to buy Sub-Saharan African stocks

With the exception of South Africa, public equities in sub-Saharan Africa are generally cheap.

Japheth Joshua ("JJ") Omojuwa is one of Nigeria's most popular bloggers.

Cult following gives Nigeria's young bloggers the last word

Japheth Omojuwa started blogging in 2009 with a simple goal: to make his opinions heard by the senators and governors that make up the top echelons of powers in Nigeria.

South Africa's MTN is the most admired brand in Africa

MTN, Samsung and Coca-Cola top list of most admired brands in Africa

Brand Africa has announced that MTN is the overall best brand in Africa and reclaimed the #1 spot as the Most Admired Brand in Africa at a gala launch of the 4th Annual Brand Africa 100: Africa’s Best Brands at Sandton Convention Center.

Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN)

Nigerian central bank offers some relief to country's banking sector

The Nigerian banking sector finally has some breathing space after the country’s central bank lowered capital reserve requirements (CRR) for banks from 31% to 25%. 

Godwin Emefiele, Governor, Central Bank of Nigeria (CBN)

Is #Nigeria's central bank governor Godwin #Emefiele being made a scape goat? Are low oil prices good for #Nigeria? #ABCView

Yes, Nigeria’s central bank governor, Godwin Emefiele, is in fact being made a scape goat for the country’s economic challenges.

First Bank of Nigeria's head office, Lagos, Nigeria

Ibukun Awosika appointed Chairman of First Bank of Nigeria. Urum Kalu "UK" Eke appointed Group MD of parent company FBN Holdings

FBN Holdings Plc recently announced major changes to its leadership team, effective January 1 2016.

Nigerian Stock Exchange launches Premium Board

Nigerian Stock Exchange launches Premium Board

The Nigerian Stock Exchange (NSE) announced last week Tuesday the launch of a new equity listing platform, the Premium Board, and the associated Premium Board Index.

Eko Atlantic, Lagos, Nigeria

Eko Atlantic: Why Nigeria's plans for a dream Eldorado city in Lagos are not radical enough (Video)

The government of the state of Lagos–Nigeria’s commercial capital–has proudly proclaimed it is building a new city that will become the new financial centre of Nigeria, and perhaps West Africa.

Bisi Onasanya, CEO, First Bank of Nigeria

First Bank CEO calls on Nigeria to end FX trading restrictions and devalue Naira

Nigeria needs to let the naira devalue as foreign-exchange trading restrictions used to keep the currency stable are starting to harm growth in Africa’s largest economy, said the head of the country’s biggest lender by assets.

Lamido Sanusi, Emir of Kano and former Governor of the Central Bank of Nigeria (CBN)

Blackstone and Black Rhino announce appointment of Lamido Sanusi, Emir of Kano and former Central Bank of Nigeria Governor, as Chairman of Black Rhino

Funds managed by Blackstone (NYSE:BX) and Black Rhino today announced that His Highness Emir Muhammad Sanusi II will join Black Rhino’s Board of Directors as Chairman.

Africa Market Data

Bargain Hunters Pounce as Nigeria Stocks Rise for Eighth Day

Nigeria’s stocks rose in the longest winning streak since July 2013 as investors bought shares they deemed oversold following declines spurred by concern lower oil prices and elections will hurt the economy.

Bond Market

Low debt, light payments add luster to Nigeria's dollar bonds

Nigeria’s dollar bonds have been battered by tumbling oil prices and domestic politics, but thanks to low debt ratios, a light repayment schedule and demand from local banks they should weather the storm.

Herve Chomel, Vice President, MoneyGram Africa

MoneyGram reaches 25,000 locations across Africa: Herve Chomel, Vice President, MoneyGram Africa

MoneyGram, a leading global money transfer company, announces today that its agent network in Africa has now reached 25,000 locations, following a strategic expansion initiative across the continent.

Baker & McKenzie

Nigeria Deals Seen by Year-End as Equity Valuations Decline

Nigerian companies are turning into foreign acquisition targets as valuations slide with the price of oil, according to a law firm that advised on one of the country’s biggest Eurobond sales last year.

Oil and Gas

Nigerian banks suffer in the oil storm

So you thought a six-month break on a desert island looked appealing and spent long hours in silent meditation, reflecting on self-actualisation, harmony and humanity’s ceaseless race to consume the planet.

Jumia Nigeria partners with First Bank to introduce FirstBank Naira Credit Card

Jumia Nigeria partners with First Bank to introduce FirstBank Naira Credit Card

For online shoppers in Nigeria, the era of saving up, for what could seem like an eternity, to buy a product may very well be over.

A shopper peruses the grocery aisles at the South Africa–based Shoprite in the three-year-old Ikeja City Mall. Photo credit: nationalgeographic.com

Global X MSCI Nigeria ETF: Speculative multi-year play approaching attractive valuation

The bet is a very long-term (multi-year) play on: (1) Earnings growth; and (2) Increased multiples assigned to equities by market participants as Nigeria’s markets mature.

Etisalat Nigeria EasyWallet

First Bank partners with Etisalat Nigeria on mobile money

Nigeria’s First Bank has partnered with mobile operator Etisalat to make mobile payments more accessible and secure.

JPMorgan

Kenya sovereign debut opens path for Kenyan corporate Eurobonds: JPMorgan

Companies in Kenya, whose government raised $2.75 billion in debut Eurobond sales this year, may follow peers in South Africa and Nigeria with bond offerings in 2015, according to JPMorgan Chase & Co.

Debt Capital Markets

Africa on course for growing debt issuance: Megan McDonald, Global Head of Debt Primary Markets, Standard Bank

Governments and companies in Africa are on course to continue the trend of growing debt issuance this year as investors across the world continue to purchase high yield assets …

Cadbury

The 20 most valuable companies in Nigeria

Discover the 20 most valuable companies in Nigeria.

Stanbic IBTC

Is there hidden value in Nigeria's Stanbic IBTC?

Stanbic IBTC is Nigeria’s best-performing bank stock. Its share price has climbed 40.5% this year and 55.4% over the past twelve months. Is it nearing the end of its run? Or is the market offering investors a discount to the bank’s real worth?

Western Union

Western Union launches outbound remittances for Nigeria

Western Union has launched an outbound remittance service in Nigeria, allowing people to send – not only receive – money around the world.

Malvina Goldfeld, Head, Business Development, Sub-Saharan Africa, PayPal

Taking Nigerians cashless: Q&A with PayPal's Head of Business Development in Sub-Saharan Africa, Malvina Goldfeld

Nigeria’s 170-million plus population has an estimated 60-million internet users, making it the largest potential market for PayPal of all the countries it has entered in recent months.

Stephen Olabisi Onasanya, managing director of First Bank of Nigeria, and Efi Dahan, PayPal's regional director of Israel and Africa shake hands at the announcement of a partnership between First Bank and PayPal.

First Bank confirmed as PayPal's official partner in Nigeria

Nigeria’s oldest commercial bank, First Bank Nigeria, has been announced the official partner of PayPal in Nigeria.

Malvina Goldfeld, Head, Business Development, Sub-Saharan Africa, PayPal

PayPal signs up "tens of thousands" in Nigeria in first week: Malvina Goldfeld, Head, Business Development for Sub Saharan Africa, Paypal

PayPal has signed up “tens of thousand” of Nigerians in its first week of operating in Africa’s biggest economy, with consumers already purchasing items from Britain, China and the United States via its online platform, a company official said.

Konrad Reuss, MD, Sub-Saharan Africa, S&P

S&P to start rating more Nigerian and Kenyan companies: Konrad Reuss, MD, Sub-Saharan Africa, S&P

Standard & Poor’s expects to rate a number of Nigerian banks this year and is talking to some Kenyan banks and companies about future credit ratings, its managing director for sub-Saharan Africa said on Monday.