Financial Sector

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.

Banking institutions across Africa are prioritizing profit protection over expansion as operational costs surge and cyber security threats intensify, marking a strategic pivot in the continent's financial sector.