General News
Nigeria’s Banks Race to Meet CBN Recapitalisation Deadline Amid Verification Push

Nigeria’s banking sector is in the final stretch of its recapitalisation drive, with lenders intensifying capital actions ahead of the Central Bank of Nigeria’s (CBN) March 31 deadline.

Proshare analysts reported subdued industry activity in the week ended February 12, as focus shifted from fundraising announcements to regulatory validation and capital confirmation.
FCMB Group Nears International Licence Confirmation
FCMB Group is undergoing CBN verification to confirm compliance with the N500 billion minimum capital threshold for international banks, Proshare said.
The group secured a national banking licence in 2024 via an oversubscribed public offer and raised another ₦160 billion last year to retain its international status.
Analysts view the ongoing process as the final regulatory checkpoint, with success likely triggering a formal announcement of continued international operations amid tighter capital standards.
Other Major Banks Advance Plans
Sterling Bank is yet to unveil its recapitalisation strategy but faces a gap between its current ₦167 billion capital and the N200 billion requirement, with a rights issue or private placement expected.
GTCO Plc recently completed a ₦10 billion private placement, issuing 125 million shares at ₦80 apiece to a single investor. Proshare described it as a proactive buffer boost for growth, reflecting investor confidence.
First HoldCo Plc’s unaudited 2025 results revealed a heavy impairment charge that eroded earnings, underscoring asset-quality risks and the need for early planning and governance amid rising regulations.
Consolidation Speculation Grows
Market talk highlighted potential tier-1 mergers and bank investments in refineries and energy infrastructure, though unconfirmed.
Mid-tier lenders eye foreign capital and deals:
Union Bank attracts UAE interest pending a legal dispute resolution.
Keystone Bank draws local and foreign bids for joint acquisition.
Polaris Bank may pursue investor recap or tier-2 merger.
Proshare’s Economic and Market Intelligence Unit noted CBN openness to M&As for resilient banks, with foreign partnerships vital for unencumbered capital despite domestic interest in distressed assets.
Fintech Race Adds Urgency
The CBN’s latest fintech report spotlights digital finance growth, urging banks to partner with fintechs for efficiency while managing competition.
Most tier-1 and tier-2 banks have met buffers, but tier-3 lenders scramble for funds or mergers. Eyes remain on confirmations like FCMB’s as the sector braces for a major reset.
General News
WHO Says Ebola Risk Now at Highest Level

World Health Organisation (WHO), yesterday, said that Ebola outbreak is “very high” but added that the global risk remains “low”.

So far, 82 cases and seven deaths have been confirmed in the Democratic Republic of Congo (DRC), but WHO, said, the real scale of the outbreak is likely far larger, with nearly 750 suspected cases and 177 suspected deaths reported
Tedros Adhanom Ghebreyesus, chief, WHO, said the situation was “deeply worrisome”.
He said there were now nearly 750 suspected cases in the DR Congo and 177 suspected deaths, as health workers scramble to track down contacts of everyone thought to be infected with the virus.
“The Ebola outbreak in the Democratic Republic of the Congo is spreading rapidly,” he told a press conference.
“So far, 82 cases have been confirmed in DRC, with seven confirmed deaths.
“But we know in people who travelled from DRC and one death.
Measures to address the epidemic in DRC are much larger.
There are now almost 750 suspected cases and 177 suspected deaths.”
He said the situation in Uganda was “stable”, with two cases confirmed in Uganda, including “intense contact tracing” and calling off the Martyrs’ Day commemorations, “appear to have been effective in preventing the further spread of the virus”, Tedros added.
While a US national who was working in the DRC has tested positive and been transferred to Germany for care, Tedros said another US national deemed to be a high-risk contact had been transferred to the Czech Republic.
Besides national staff already in the DRC, he said 22 international staff had been deployed to the field, “including some of our most experienced people”.
Tedros said that violence and insecurity were impeding the response to the outbreak in the DRC.
“We are now revising our risk assessment to very high at the national level, high at the regional level, and low at the global level.
“So far, 82 cases have been confirmed in DRC, with seven confirmed deaths.
“But we know the epidemic in DRC is much larger. There are now almost 750 suspected cases and 177 suspected deaths.
“The situation in Uganda is stable, with two cases confirmed in people who travelled from DRC, with one death.”
Tedros said that violence and insecurity were impeding the response to the outbreak.
General News
Army Acquires New Drones to Boost Surveillance, Precision Strikes — COAS

Nigerian Army has acquired additional drones and other advanced force multipliers to strengthen surveillance operations, improve target acquisition, and enhance precision strike and casualty evacuation capabilities.

Lt.-Gen. Waidi Shaibu, chief of Army Staff (COAS), said that the new drones will boost surveillance, precision strikes.
Shaibu, who disclosed this in a statement shared via the Nigerian Army’s official X handle, noted that the conference provided a platform for critical assessment of ongoing operations and the development of forward-looking strategies to address Nigeria’s evolving security challenges.
He said deliberations at the Nigerian Army Conference Centre, Asokoro, focused on sharpening operational responses, strengthening training frameworks and adapting to the demands of modern security warfare.
According to him, the resolutions reached are aimed at building a more agile, combat-ready, technologically driven and mission-oriented force capable of responding effectively to emerging threats.
A key highlight of the reforms is the Army’s increasing investment in modern warfare technology, including the acquisition of additional tactical drones and the reconfiguration of Army aviation assets for combat roles.
Shaibu explained that these developments have significantly enhanced intelligence gathering, precision targeting, operational mobility and casualty evacuation across various theatres of operation.
He also highlighted ongoing improvements in recruitment, advanced training, professional military education and leadership development, stressing that discipline, competence and meritocracy remain central to building a stronger institution.
Reaffirming his “soldier-first” philosophy, the COAS said troop welfare remains a top priority, stressing that “troop welfare remains non-negotiable; well-motivated soldiers operating in conducive environments are critical to mission success.”
He urged senior officers to ensure that resolutions from the conference are fully implemented in field operations, stressing that the true value of the gathering lies in measurable impact on the battlefield.
Describing the ongoing reforms, Shaibu said: “We are not just reforming the Army; we are building a lethal, technology-driven fighting force where only discipline, merit, and mission success matter.”
The Army Chief expressed appreciation to President Bola Ahmed Tinubu for his support, as well as the Minister of Defence, Minister of State for Defence, Chief of Defence Staff, service chiefs and intelligence agencies for their continued collaboration.
The conference ended with the presentation of commendation plaques to senior officers recognized for outstanding contributions to operational effectiveness.
General News
UK Special Envoy for Freedom of Religion or Belief Concludes Visit to Nigeria

The UK Special Envoy for Freedom of Religion or Belief (FoRB), David Smith MP, concluded a three-day visit to Abuja this week, marking Nigeria as the first focus country he has visited under the UK’s FoRB strategy.

During the visit, David Smith MP held a wide range of meetings with senior Nigerian government officials, religious leaders, civil society organisations, and local communities – reflecting the UK’s commitment to sustained, practical engagement and partnership on freedom of religion or belief in Nigeria.
Meetings included discussions with the National Security Adviser, Mallam Nuhu Ribadu, the Honourable Minister of Information and National Orientation, Mohammed Idris, and the Governor of Plateau State, Caleb Mutfwang.
The Special Envoy also met with the co-chairs of the Nigeria Inter-Religious Council, Archbishop Daniel Okoh, President of the Christian Association of Nigeria, and HRH the Sultan of Sokoto, Muhammadu Sa’ad Abubakar III, President-General of the National Supreme Council for Islamic Affairs.
At the end of the visit, the UK Special Envoy for Freedom of Religion or Belief, David Smith MP, said: “Over the past few days, I have been honoured to meet a wide range of people — from senior government figures and civil society to faith leaders and local communities. I came to listen, learn, and see both how freedom of religion or belief is experienced in everyday life, and how it connects to – and is a core part of addressing – Nigeria’s wider challenges around security and cohesion.
“Some of the most powerful moments of this visit were at community level. Visiting Father Emmanuel Unamba’s parish and meeting Christian and Muslim neighbours living side by side was a real reminder that peaceful coexistence is something people build every day through leadership, dialogue, and shared responsibility.
“What I take away from this visit is the importance of further progress being Nigerian led, rooted in strong institutions and inclusive dialogue, with FoRB at its heart. The UK will continue to support practical efforts in ensuring greater peace, security and prosperity for all.”
The visit also included a roundtable with partners of the UK’s Strengthening Peace and Resilience in Nigeria (SPRiNG) programme, a £38 million UK government-funded conflict and resilience programme operating primarily in Kaduna, Katsina, Benue and Plateau states.
During the visit, Special Envoy David Smith MP held meetings with the Institute for Peace and Conflict Resolution, the Nigerian National Human Rights Commission, and civil society organisations working at the intersection of insecurity and religious freedom. He also visited the National Mosque and the National Ecumenical Centre in Abuja.
Speaking to the various stakeholders, Mr Smith called for greater tolerance across religion or belief in Nigeria and hoped that the cohesion he saw on a community level in the capital, could be achieved nation-wide with the same resolve. He hoped to continue these dialogues with interlocutors in the UK.
The visit builds on the momentum of President Tinubu’s State Visit to the United Kingdom in March 2026, which reinforced the UK-Nigeria Strategic Partnership and included interfaith events attended by President Tinubu and His Majesty The King, underlining both countries’ shared commitment to fostering constructive interfaith dialogue.
Telecom2 days agoGoogle unveils Gemini-powered advertising, commerce tools at Marketing Live 2026
E-Financial2 days agoGriffin Capital Group Launches Integrated Financial Services Group Positioned to Strengthen Capital Formation in Nigeria, Africa
Telecom2 days agoNigeria gets AI-ready Lagos data centre
E-Business2 days agoKaspersky Detected More than 92,000 Malware Attacks Disguised as AI Services in Four Months
E-Financial2 days agoCBN to Simplify Bank Alerts over Rising Customer Complaints
Telecom2 days agoTelcos in Nigeria, other Emerging Markets Squeezed by Diesel Crisis
Telecom2 days agoipNX Seeks Coordinated Action on Fibre Deployment @ National Dig-Once Forum
General News2 days agoOtedola Plans $100m Investment in Dangote Refinery ahead of Proposed IPO


















