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...
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...