banking

Nigeria's financial sector shows divergent liquidity patterns as commercial banks deposit N3.57 trillion in the Central Bank's Standing Deposit Facility over three days, while the Federal Mortgage Bank records its strongest operational performance in decades with N19.5 billion net surplus.

Absa Group's pursuit of Kenyan acquisitions signals renewed confidence in pan-African banking integration, while Nigeria's stock market adds N1.7 trillion in value driven by telecommunications heavyweight MTN.

Nigeria's foreign exchange reserves reached $48.5 billion, the highest level since 2013, while Sterling HoldCo completed its oversubscribed public offer and FMBN posted a 68.4% year-on-year surplus increase, signaling robust recovery across the financial sector.

The proposed merger between Unity Bank Plc and Providus Bank Limited moves closer to completion with shareholder approval and regulatory support, signaling a new phase of consolidation in Nigeria's banking sector.

Sterling Financial Holdings has commenced allotment of N88.1 billion in shares following a successful public offer, while SanlamAllianz General Insurance appointed Jacqueline Uche Agweh as Managing Director and Stanbic IBTC Insurance secured institutional excellence awards.

Central Bank of Nigeria Governor Olayemi Cardoso has outlined a dual mandate for African economies: building robust financial institutions capable of financing industrial growth while simultaneously addressing climate imperatives and employment generation.

Nigeria's banking sector attracted $16.78 billion in capital importation during the first nine months of 2025, with major lenders completing Central Bank-mandated recapitalization requirements, though ECOWAS investors contributed just 0.01% of total inflows.

As Wema Bank launches its 2026 Bankers-in-Training Program for Nigerian graduates, Canada simultaneously announces scholarship opportunities, presenting young Nigerians with divergent choices between local career building and international academic migration.