E-Financial
SEC to Strengthen Borrowing Framework for Governments, Corporates
The Securities and Exchange Commission (SEC) has pledged to enhance its regulatory framework for borrowing by government entities and corporate organizations.
Emomotimi Agama, Director General of SEC, revealed this in an interview, where he emphasized the pivotal role borrowing plays in sustaining the financial system and fostering economic growth.
He highlighted the need for strategic management of resources, particularly in light of the Supreme Court’s recent ruling mandating direct federal allocations to Nigeria’s 774 local government areas.
Agama stated, “Improving the framework for borrowing is very important because borrowing is part of the financial system, and we can only make much of the move we want to make if there is enough funding.
“Hence, we want to ensure sustainability in both government borrowing, especially for municipal and state governments, given the new Supreme Court order regarding local government allocations.”
He further stressed the importance of structured borrowing in supporting development across sectors. For corporate organizations, the SEC DG noted that the Commission is revolutionizing the landscape with the introduction of new rules on Central Counter Parties (CCPs).
“As a Commission, we have established those new rules, and they will become operational in 2025. Our aim is to make borrowing a seamless and effortless process for Nigerian companies,” he said.
Agama added that SEC was also committed to diversifying the Nigerian capital market, which had long been dominated by a mono-product focus. He disclosed plans to introduce derivatives trading in 2025, supported by enabling laws and regulations to foster growth and confidence.
“To build confidence in derivatives trading, we aim to provide clear exemptions for these transactions from general insolvency laws, creating a safer and more predictable trading environment. By doing this, we hope to attract more players and provide new opportunities for every Nigerian,” Agama concluded.
The SEC reiterated its commitment to creating a safer and more robust trading environment to strengthen the Nigerian capital market and support sustainable economic development.
Kuda Microfinance Bank has unveiled the 2025 edition of “My Year on Kuda,” its annual recap providing customers with personalised insights into their spending, saving, and money management habits from the previous year.
Kuda Microfinance Bank
The tool analyses transaction data across categories like transfers, card payments, online purchases, and bills, revealing patterns such as highest-spending months, biggest payments, saving frequency, and savings from Kuda’s 25 free monthly transfers. Customers can compare 2025 activity against 2024, including income versus expenditure.
In an era of inflation and economic uncertainty, the recap promotes financial literacy by highlighting responsible borrowing via Kuda Overdraft usage, including access frequency, amounts borrowed, and repayment patterns.
Customer-shared screenshots on X reflect national trends: Nigeria recorded over 2.2 billion electronic transactions worth ₦285 trillion in Q1 2025, up 20 percent year-on-year, with POS terminals driving the shift to cashless commerce.
Kuda Group CEO Babs Ogundeyi, in the recap’s opening video, urged users: “Before you carry on with January, this is the perfect time to see everything you did with your money on Kuda last year and learn something.”
The feature underscores Kuda’s focus on actionable insights to help Nigerians navigate evolving personal finance amid shifting earning and spending behaviours.
Wema Bank has introduced SAW, a new AI voice assistant integrated into the ALAT 2.0 app, allowing customers to manage finances through natural voice commands similar to Siri, Bixby, or Alexa.
Wema Bank
SAW understands everyday language and delivers instant responses tailored to banking needs, such as checking account balances, transferring money, reviewing transactions, and accessing support.
This feature brings conversational banking to Nigerian users, eliminating complexity and enhancing accessibility.
The bank positions SAW as a pioneer in AI-powered financial services, aligning with global trends where millions interact daily with voice assistants for tasks like setting reminders or playing music.
ALAT 2.0 represents the next evolution in digital banking, making services more efficient, personal, and human-like for everyday Nigerians.
Ecobank Nigeria Limited has fully repaid bondholders who validly tendered their notes ahead of the February 2026 maturity date.
The bank announced the successful completion of its tender offer, under which it prepaid approximately $245 million of its $300 million Eurobond, representing more than 80 per cent of the total issuance.
According to a statement, the transaction relates to the 7.125 per cent Senior Note Participation Notes due February 2026.
Ecobank Nigeria Limited said it launched a tender offer to eligible noteholders in respect of the outstanding $150 million on the bond on November 27, 2025, providing them with an opportunity to redeem their holdings ahead of the original maturity date of 16 February 2026.
It stated that the early and late tender participation deadlines were 11 December 2025 and 29 December 2025, respectively.
According to the bank, holders of notes validly tendered and accepted received a cash consideration of $1,000 per $1,000 in principal amount, in addition to accrued interest from the last interest payment date up to, but excluding, the final settlement date of 31 December 2025.
Following completion of the offer, the bank said the outstanding principal amount of the notes has been reduced to approximately $55.092 million.
The bank also stated that the initiative reflects Ecobank Nigeria’s proactive approach to liability management and prudent balance sheet optimisation.
The tender offer was conducted with Renaissance Capital Africa (Renaissance Securities Nigeria Limited) acting as financial adviser and dealer manager, while Sodali & Co Limited served as tender agent.
The notes were originally issued by EBN Finance Company B.V., with limited recourse to the issuer, for the sole purpose of financing the purchase of the $300 million 7.125 per cent Senior Note due 2026 issued by Ecobank Nigeria Limited.
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