Business Hilights

Tracking Nigeria's Headline Business News Online

Banking/Investments

Anxiety as PayPal Loses 6m Active Users in a Year

Despite reporting better-than-expected first-quarter profit and sales, the fintech giant PayPal still counts much less users than it did a year ago.  According to data presented by Stocklytics.com, PayPal had 427 million active users in Q1 2024, or six million…

Fidelity Bank wins Champion Bank of the Year Award

Considering its devotion to driving economic growth, sterling financial performance and positive impact on the society, Fidelity Bank Plc has been presented the award of the Bank of the Year 2023 at the Champion Newspapers’ Awards. The awards ceremony, which…

Wix Payment Integration as Revenue Booster for Online Businesses

As online transactions increase year-on-year, the need for businesses to retain customers, reduce cart abandonment and grow their revenue becomes paramount. One solution for businesses looking to leverage payment to attract and retain customers is payment integration on Wix, a…

Fidelity Bank Begins N29.6bn Rights Issue, N97.5bn Public Offer

Fidelity Bank Plc has concluded all necessary arrangements to raise a total of up to ₦127,100,000,000.00 (One Hundred Twenty-Seven Billion, One Hundred Million Naira) by way of a Rights Issue to existing shareholders and a Public Offer (the “Combined Offer”)….

AfDB, IFAD, CGIAR advance ties to boost Africa’s food security

Top development organisations have pledged to forge partnerships to expand the Vision for Adapted Crops and Soils (VACS), an initiative aimed at building resilient African food systems based on diverse, nutritious, and climate-adapted crops grown in healthy soils. On the…

Zenith Bank again, wins Most Sustainable Bank in Nigeria at IBA 2024

Zenith Bank Plc has been named the “Most Sustainable Bank, Nigeria” in the International Banker 2024 Banking Awards, retaining the title for the second consecutive year. Commenting on the award, the Group Managing Director/Chief Executive Officer of Zenith Bank, Dame…

Imo State, Afrexim Bank unveil Imo’s Africa quality assurance centre

Governor Hope Uzodimma has recorded another feat in his administration’s determination to boost commerce and industry in Imo State as he was joined Monday by officials of the Africa Import-Export (Afrexim) Bank to unveil the second Africa Quality Assurance Centres…

Why CBN closed down Heritage Bank

The Central Bank of Nigeria (CBN), in accordance with its mandate to promote a sound financial system in Nigeria and in exercise of its powers under Section 12 of the Banks and Other Financial Act (BOFLA) 2020, hereby revokes the…

Digital Transformation now top-three priority for banks, says new report

The African Banking Digital Transformation Report, a collaboration between pan-African publication African Banker and Backbase, creators of The Engagement Banking Platform, is a cornerstone in Africa’s financial news landscape, offering in-depth insight into the digital revolution being undertaken by the…

AfDB Unveils New Ten-Year Strategy 2024–2033

The African Development Bank Group has unveiled its new Ten-Year Strategy 2024–2033, a blueprint to confront Africa’s pressing challenges and to help put the continent firmly back on track towards sustained economic growth and prosperity. Unveiling the strategy during the…