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Business

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Niteon Unveils First African Manufacturers Bank to Unlock $200bn Digital Export Market

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FG Boosts MSME Financing with NCGC Initiative

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ICT

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

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NCC Spotlights Renewable Energy on World Consumer Rights Day

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Governors, NCC Set for Broadband Awareness Forum Oct 20

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VerveLife 5.0 Gears Up for Nairobi, Lagos Events

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Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

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Capital Market

SEC DG: Commission Considering Gradual Implementation of ISSB Standards

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ISSB-Aligned Disclosures Will Lower Capital Costs, Attract Global Investors — SEC

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SEC DG to Cadets:  Invest Early, Long Term to Create Wealth

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SEC DG: Accountability, Transparency will Boost Investor Confidence in Capital Market

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Insurance

13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

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Leadway Assurance: Insurance Company of the Year at 2025 BAFI Awards

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Heirs Insurance Group Announces Inaugural Travel Festival: A Call for Inclusive Travel Ecosystem for Africans

Heirs Insurance Group (HIG), Nigeria’s fastest-growing insurance group, has...

Sovereign Trust Insurance Celebrates 2025 Customer Service Week

Sovereign Trust Insurance Plc has been actively involved in...

Leadway: 55 Years of Innovation, Expanding Financial Access, Inclusion Across West Africa

Leadway, one of Nigeria’s foremost non-banking financial services and...

Business

Troyka Holdings Chair, Biodun Shobanjo, Inducted into Loeries Hall of Fame

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Zenith Bank, NEM, Seplat, AIICO, Dangote Cement, First HoldCo Recognised as Nigeria’s High-Performing Companies

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Finance Min, Wale Edun, to Keynote FiBOP Annual Confab Oct 18

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Niteon Unveils First African Manufacturers Bank to Unlock $200bn Digital Export Market

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FG Boosts MSME Financing with NCGC Initiative

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ICT

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Capital Market

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Insurance

13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

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Leadway Assurance: Insurance Company of the Year at 2025 BAFI Awards

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Heirs Insurance Group Announces Inaugural Travel Festival: A Call for Inclusive Travel Ecosystem for Africans

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FBN Holdings Leverages NGX Invest for N150bn Rights Issue

FBN Holdings Plc’s N150 billion rights issue has gone live on the Nigerian Exchange Group’s (NGX) digital platform, NGX Invest.

This rights issue, offered on a one-for-six basis to existing shareholders, is accessible through NGX Invest, providing a seamless digital channel for eligible investors to participate.
At the “Facts Behind the Rights Issue” event held at the Exchange, FBN Holdings Group Managing Director, Mr. Nnamdi Okonkwo, emphasised the strategic importance of the rights issue, stating, “we will be leveraging our diversified portfolio of businesses and shared resources to ‘do more with less’, optimising costs, improving efficiency, and boosting revenues. We aim to strategically expand into new geographies via both physical and digital approaches while continuing to explore attractive business adjacencies.”

He also noted FBN Holdings’ enthusiasm in utilising NGX Invest’s capabilities, highlighting that “this digital platform allows us to reach a wider investor base and facilitate seamless participation in our capital raise.”
By utilising NGX Invest, FBN Holdings joins six other Nigerian banks that have recently tapped into this innovative platform to distribute a total of eight public offers and rights issues.

This move aligns with the Central Bank of Nigeria’s (CBN) new capital adequacy requirements, which mandate banks to strengthen their capital bases by 2026.

To date, NGX Invest has facilitated approximately ₦1.26 trillion (about $770 million) in capital raises within the banking sector.
NGX Invest’s track record in facilitating capital raises has attracted praise from stakeholders. Emomotimi Agama, Director General of the Securities and Exchange Commission (SEC), noted that banks using NGX Invest have consistently achieved full subscription levels, often reaching oversubscription.

Similarly, Ladi Balogun, Group Chief Executive Officer of FCMB Group Plc, commended NGX Group for its pivotal role in enabling over 40,000 investors to seamlessly participate in their recent public offering through the NGX Invest platform.
Temi Popoola, Group Managing Director/Chief Executive Officer of NGX Group, highlighted the platform’s significance, saying, “NGX Invest’s secure and well-regulated infrastructure has rapidly emerged as the top choice for issuers seeking to distribute their offerings digitally. We are proud to support financial institutions and other issuers in their capital-raising efforts, empowering them to reach a wider investor base and drive economic growth.”

 

 

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