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FCMB Group Posts ₦35bn Q1 Profit as Revenue Surpasses Forecast

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FCMB Group Plc reported a profit before tax of ₦35 billion for the first quarter ended March 31, 2025. Gross revenue grew 41.1% year-on-year to ₦252.7 billion, surpassing its Q1 forecast of ₦226.9 billion, driven by a 58% increase in net interest income.

The Group recorded a 5% growth in total assets from ₦7.05 trillion in December 2024 to ₦7.40 trillion as at March 2025. Loans and advances also grew by 3.4% over the same period to ₦2.44 trillion, supporting business and economic activity.

The Banking Group accounted for 81.4% of profits, followed by Consumer Finance, 11.7%, Investment Management, 5.0%, and Investment Banking, 0.7%.

Net interest margins grew to 8.3% from 5.4% in Q4 2024, driven by a 200 basis points drop in the cost of funds and a higher yield on earning assets of 20.2%.

The Group linked the improvement to early benefits of the capital raised in 2024 and an improvement in the low-cost deposit liabilities.

Group Chief Executive Ladi Balogun said that the diversified financial services group will continue to leverage its group structure to drive an ecosystem that will foster inclusive and sustainable growth.

Analysts say FCMB Group’s diversified revenue structure and strengthened capital position provide a positive outlook for the rest of the financial year.

FCMB Group Plc is a financial services holding company listed on the Nigerian Exchange and headquartered in Lagos.

The Group has strategic interests in businesses serving over 14 million customers across five platforms – banking, consumer finance, investment management, investment banking, and financial technology.

Together, these businesses are building an integrated ecosystem that supports inclusive and sustainable growth across Africa, its diaspora, and the United Kingdom.


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NGF Launches Digital Platform to Bridge $100bn Infrastructure Gap

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The Nigeria Governors’ Forum (NGF) has launched a digital platform to attract local and international investors to Nigeria’s sub-national infrastructure projects and close the country’s estimated $100 billion annual financing gap.

Unveiled in Abuja, Investopedia will serve as a transparent “one-stop shop” for investment opportunities across Nigeria’s 36 states, said the forum, offering detailed project information and clear entry points for prospective investors.

NGF chairman and Kwara State Governor, Abdulrahman Abdulrazaq, described the initiative as a “strategic tool to unlock Nigeria’s full potential by mobilising global and African capital for critical infrastructure”.

He stressed that the platform should be seen as more than an investment catalogue, but a gateway that combines opportunities with guidance and institutional oversight.

Investopedia is backed by partnerships with the African Export-Import Bank (Afreximbank), the United Nations Development Programme (UNDP), and the Ministry of Finance Incorporated (MOFI).

NGF director-general, Abdulateef Shittu, hailed the launch as a “new dawn” for sub-national investment readiness, noting that Nigeria attracted only $1.87 billion in foreign direct investment in 2023, well below Africa’s average.

By curating a pipeline of bankable projects, he said the platform would boost investor confidence and expand Nigeria’s global visibility.

Shittu added that beyond financing, the platform would foster technical partnerships, capacity-building, and risk mitigation, laying the groundwork for sustainable economic growth.

“This is about more than funding, it is about actionable, bankable projects that will drive jobs, inclusive growth, and long-term prosperity,” he said.


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IHS Nigeria, Osun State partner to transform technical education

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IHS Nigeria has partnered with the Osun State Government on Osun Teacher-Shift 2025, a programme aimed at transforming technical and vocational school teachers into digital-ready educators capable of driving innovation in classrooms.

The IHS Nigeria sponsored initiative, implemented by Focus Teens Foundation in collaboration with the Osun State Board of Technical and Vocational Education, targets about 200 teachers across the State’s nine technical colleges. The training will run in batches over a two-day period, with participants expected to acquire modern skills, and innovative teaching techniques.

Speaking at the opening ceremony which held in Osogbo yesterday, Titilope Oguntuga, Director of Sustainability at IHS Nigeria, explained that the project was developed to prepare teachers for the opportunities and challenges of a fast-evolving world.

She said, “Today is not just the launch of a programme — it is the beginning of a movement. This is more than training, it is a mindset shift. It is about rethinking how we prepare teachers, students, and our communities for the opportunities and challenges of a fast-evolving world.”

Oguntuga emphasised that teachers remain at the centre of national development but face increasing demands to inspire creativity, nurture innovation, and equip young people with practical and technology-driven skills.

She noted that the initiative also reflects IHS Nigeria’s four sustainability pillars — ethics and governance, environment and climate change, people and communities, and education and economic growth.

The IHS official said, “education remains the strongest catalyst for national development. But we cannot achieve this without empowering the people who will empower the next generation. With this programme, teachers and beneficiaries from the nine technical colleges will begin to think more innovatively and incorporate new systems that support STEM for the advancement of our nation.”

Oguntuga added that each school would be given routers with one year subscription.

Adedapo Ademola-Adesina, Special Adviser to the Governor on Technical and Vocational Education, noted that the State Government believes in private sector collaboration to achieve its goals for technical and vocational education, leading to the partnership with IHS Nigeria.

“We must begin by changing the mindset of our teachers. They are the ones who shape future leaders. That is why we tagged the program “Osun Teacher-Shift 2025” — shifting from the old ways to new digital teaching”, he said.

Also speaking, Sunday Eluwole, the Osun State Commissioner for Education, acknowledged that the training was both timely and necessary, saying; “this is the 21st century, and Nigeria cannot be left behind. Our schools, teachers, and classrooms must be digitalised. Teachers must first be trained in digital methods before they can pass the knowledge on to students.”

Eluwole added that Osun State, which has the highest number of technical colleges in the Country, is committed to making its schools models of digital and vocational learning.

Earlier, Muritala Jimoh, Permanent Secretary, Ministry of Education, said that Osun State teachers are ready to shift. Jimoh noted that Governor Ademola Adeleke is prioritising teachers’ welfare in the state, hence their readiness to embrace the shift.

He called on teachers to reciprocate government’s efforts by making their minds flexible to change.


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Passengers Must Switch Off Phones during Flights — NCAA

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Nigeria Civil Aviation Authority (NCAA) has directed all airlines operating in the country to ensure that passengers completely switch off their mobile phones during aircraft take-off and landing.

Passengers Must Switch Off Phones during Flights — NCAA

Michael Achimugu, director of Public Affairs and Consumer Protection, NCCA, disclosed the directive in a post on X on Tuesday.

He said the measure was part of a harmonisation of existing rules on the use of electronic devices onboard.

“Henceforth, the regulation per phones and other electronic devices in Nigeria has been unified: ALL PHONES MUST BE SWITCHED OFF DURING THE CRITICAL ASPECTS OF TAKE-OFF AND LANDING,” Achimugu wrote.

“All airlines must amend their security programmes to reflect this if different in their current programmes. No more airplane mode until regulations are reviewed to reflect evolving technological situations.”

The directive means that all airlines will have to adjust their operational manuals and cabin crew instructions to enforce the policy.

Reactions to the announcement have been mixed on social media, with some Nigerians questioning the relevance of the rule in light of advances in aircraft technology and onboard connectivity.

 

 

 


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