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Oyetola to Declare PMAWCA Board Meeting Open as NPA Hosts West, Central African Port Leaders‎

The Honourable Minister of Marine and Blue Economy, His Excellency, Gboyega Oyetola, is set to declare open the Board of Directors meeting of the Port Management Association of West and Central Africa (PMAWCA). ‎The three-day high-level gathering, scheduled for May 18–20, 2026, hosted by the Nigerian Ports Authority in Lagos, will bring together top maritime leaders and port administrators from across West and Central Africa to deliberate on the future of ports and regional maritime development. ‎ ‎With the theme, “Ports of the Future: Combining Logistical Resilience with Inclusive Community Development,” discussions will centre on strengthening port infrastructure, building resilient logistics systems, enhancing regional collaboration, and ensuring port growth translates into tangible socio-economic benefits for host communities. ‎ ‎Ahead of the meeting, Managing Director of NPA and chief host, Abubakar Dantsoho, the first Nigerian to serve as President of PMAWCA describe...

Sterling Financial Holdings Sustains Growth Momentum as Assets Cross ₦4 Trillion Mark in Q1, 2026

…Group Profit rises 89% in FY2025, 53% in Q1 2026 ‎ Sterling Financial Holdings Company Plc has announced its audited financial results for the year ended December 31, 2025, alongside its unaudited results for the first quarter ended March 31, 2026, delivering strong earnings growth, balance sheet expansion and improved capital ‎strength across the Group. ‎ ‎According to statement by Group CFO, Sterling Financial Holdings Company PLC, Adebimpe Olambiwonnu, Gross Earnings for FY2025 increased by 44.4% to ₦486.8 billion, representing the strongest performance in the Group’s modern history. Profit Before Tax rose by 89.2% to ₦86.8 billion, while Profit After Tax increased by 74.8% to ₦76.3 billion. ‎ ‎The Group’s balance sheet also strengthened significantly during the year. Total Assets reached ₦3.91 trillion, Customer Deposits grew to ₦2.98 trillion, and Loans and Advances closed at ₦1.41 trillion while Shareholders’ Funds expanded by 40.5% to ₦428.7 billion. ‎ ‎Sterling Financia...

Fidelity Bank Chairman Amaka Onwughalu wins “Women on Bank Boards” at AWBFA 2026‎

The Chairman of the Board of Directors of Fidelity Bank Plc, Mrs. Amaka Onwughalu, has emerged winner in the “Women on Bank Boards” category at the Africa Women in Banking and Finance Conference and Awards (AWBFA 2026). ‎ ‎The event, themed “Redefining Women’s Leadership in African Finance”, held at the Lagos Marriott Hotel Ikeja on Friday, 8 May 2026, is a platform established to celebrate women driving leadership and impact across Africa’s financial services ecosystem. It also spotlights professionals whose contributions are often overlooked, while advancing visibility for women shaping banking and finance. ‎ ‎In her acceptance remarks, delivered through Ezinwa Unuigboje, Company Secretary, Fidelity Bank Plc, Onwughalu described the recognition as a timely reminder of the role inclusion plays in strengthening board effectiveness and corporate governance. ‎ ‎“This recognition matters because inclusion at board level strengthens governance,” she said, noting that when di...

Union Bank Honoured by ASBON at Nigeria National SME Business Awards‎

Union Bank of Nigeria has reaffirmed its reputation as a strong supporter of Nigerian businesses as it received the Best SME Growth Banking Initiatives Award for 2025 from the Association of Small Business Owners of Nigeria (ASBON) at the Nigeria National SME Business Awards, held recently in Lagos. ‎ ‎The award was presented to the Bank in recognition of its strategic leadership in advancing the growth and resilience of small and medium-sized enterprises, through a differentiated suite of solutions designed to enable business expansion and long-term value creation. ‎ ‎ ‎Receiving the award on behalf of the Bank, Ayokunnumi Abraham, Head of SME Segment at Union Bank, described the recognition as a strong endorsement of the Bank's commitment to supporting small and medium-sized businesses. He said: ‎"We are honoured to receive this recognition, which reflects Union Bank's continued commitment to helping SMEs grow by making banking simpler, faster and more accessib...

Ogun Area 1 Customs Intercepts Cannabis Sativa, Other Smuggled Items Worth ₦6.78Bn

The Ogun Area 1 Command of the Nigeria Customs Service (NCS), has continued onslaught against smugglers and the nation's economic saboteurs as it within 41 days restricted smuggled and unwholesome goods worth ₦6.78Bn from entering the country through the Ogun state axis of the country. ‎ ‎The Acting Area Controller of the Command, Deputy Comptroller Olukayode Afeni made this known during a press briefing in Idiroko, as he attributed the success to the renewed anti-smuggling mandate of Comptroller General of Customs, Dr. Bashir Adewale Adeniyi MFR. ‎ ‎Afeni said the directive from the CGC sharpened intelligence gathering and strengthened coordinated enforcement across commands. ‎“This operation is a direct outcome of the CGC’s charge to tighten the noose on smugglers, protect local industries, and safeguard public health,” Afeni stated. ‎ ‎ Major seizures recorded during the period are Cannabis sativa: 2,543 parcels, Cannabis indica (“Ghana ...

Anti Drug War: Customs, NDLEA Again Intercepts ₦16.6bn Cannabis Shipment at TinCan Port‎

The operatives Nigeria Customs Service (NCS) in collaboration with the National Drug Law Enforcement Agency (NDLEA), has once again proved it's might in the fight against drug trafficking in the Nigeria by intercepting a major transnational drug trafficking attempt at the Tincan Island Port seizing 4,173.5 kilograms of Cannabis Indica valued at approximately ₦16.6 billion. ‎T he interception, which has caused another major blow to international drug trafficking networks was uncovered inside a used Ford bus and a Mercedes-Benz C300 vehicle shipped in a 40-foot container from Canada , during a joint examination and was described as a significant breakthrough against an international drug trafficking network operating through maritime routes. ‎ Addressing newsmen at the Enforcement Unit of the TinCan Island Port Command, the Customs Area Controller of the command, Comptroller Frank Okechukwu Onyeka, described the interception as a clear indication that criminal syndicates remain ...

Fidelity Bank’s Liquidity Position Rises Above N1trn On Stronger Cash Holdings

‎Fidelity Bank strengthened its liquidity position in the 2025 financial year as cash and cash equivalents rose by 87 percent to N1.32 trillion, reflecting improved cash buffers, stronger deposit mobilisation, and growth in interest-earning assets. ‎ ‎The lender’s audited financial statement for the year ended December 31, 2025, showed that cash and cash equivalents increased from N707.45 billion in 2024, underscoring the bank’s stronger liquidity profile amid Nigeria’s tight monetary environment. ‎ ‎Restricted balances with the Central Bank of Nigeria (CBN) also increased by 4.1 percent to N1.65 trillion in 2025 from N1.59 trillion in the previous year. ‎ ‎The improved liquidity position came as Fidelity Bank recorded strong growth in customer deposits, which rose by 16.1 percent to N6.89 trillion from N5.94 trillion, indicating sustained customer confidence and expansion in the bank’s funding base. ‎ ‎The bank’s total assets also expanded by 18.6 percent to N10.46 trillion fr...

Nigeria Customs Recovers, Hands Over Stolen Exotics Cars Back To Canada

As part of ongoing efforts to strengthen international confidence in Nigeria’s anti-smuggling and cargo intelligence system, the Nigeria Customs Service (NCS) has formally handed over intercepted stolen luxury vehicles traced to Canada. ‎ ‎The handover ceremony took place on Monday, 4 May 2026, at the TinCan Island Port, where the Deputy High Commissioner of Canada to Nigeria, Nasser Salihou, officially received the recovered vehicles from the Customs Area Controller of the Command, Comptroller Frank Onyeka. ‎ ‎The recovery followed months of intelligence sharing and operational collaboration between the NCS and the Royal Canadian Mounted Police, after authorities in Canada traced a number of stolen high-end vehicles believed to have been smuggled into Nigeria via international shipping channels. ‎ ‎Internal Customs document dated 5 May 2026, showed that the intercepted vehicles included a 2019 Lexus RX350, 2019 Mercedes-Benz G550, 2023 Land Rover Range Rover, 2019 Lamborghin...

‎CGC Adeniyi Reaffirms Nigeria’s Commitment to Regional Modernisation‎...As Freetown Hosts 32nd WCO West and Central Africa Customs Conference

The Comptroller-General of the Nigeria Customs Service (NCS) and Chairperson of the World Customs Organisation (WCO) Council, Bashir Adewale Adeniyi, MFR, has reaffirmed Nigeria’s commitment to regional modernisation and collective growth. ‎Speaking at the 32nd Conference of Directors-General of Customs for the West and Central Africa (WCA) Region in Freetown, Sierra Leone, Adeniyi emphasised that Nigeria’s leadership role is anchored on the spirit of unity and the shared progress of all member states. ‎ ‎Setting a collaborative tone for the high-level summit, which took place from Thursday, 7 May to Friday, 8 May 2026, in Freetown, Sierra Leone, CGC Adeniyi highlighted the WCA region's unique tradition of inclusivity. He noted that the region's strength lies in its "rotational inclusiveness," in which every nation, regardless of size, takes a turn at the leadership baton. ‎“This chairmanship is not mine. It belongs to the region that sent me,” Adeniyi decl...