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Nigerians trade $50bn in crypto, ignore capital market, says SEC

AgamaNigeria’s capital market regulator, the Securities and Exchange Commission, has raised concerns over the growing preference of Nigerians for cryptocurrency trading over investments in the traditional capital market.

According to the Director-General of the SEC, Emomotimi Agama, more than $50bn worth of cryptocurrency transactions passed through Nigeria between July 2023 and June 2024, reflecting a high level of investor sophistication and risk appetite that has not translated into participation in the formal market.

“Over $50 bn worth of cryptocurrency transactions flowed through Nigeria between July 2023 and June 2024, underscoring the sophistication and risk tolerance of investors that the traditional market has yet to capture.”

In a statement, Agama, who spoke while presenting a paper titled ‘Evaluating the Nigerian Capital Market Masterplan 2015–2025’ at the annual conference of the Chartered Institute of Stockbrokers, said fewer than four per cent of Nigerian adults currently invest in the capital market.

He said, “There are concerns over the alarmingly low participation of Nigerians in the traditional capital market, revealing that fewer than four per cent of the country’s adult population are active investors.”

He described the low participation rate as a major obstacle to economic growth and capital formation, noting that while less than three million Nigerians invest in the market, over 60 million engage in daily gambling activities worth an estimated $5.5m.

Agama further lamented that Nigeria’s market capitalisation-to-GDP ratio stands at about 30 per cent, far below that of South Africa at 320 per cent, Malaysia at 123 per cent, and India at 92 per cent.

He called for deeper financial inclusion, stronger trust-building measures, and renewed reforms to attract retail investors and harness the capital market as a driver of long-term economic transformation.

Dan Poster by — October 28, 2025 in Business 0
Equities lose N94bn as investors take profit on blue chips

Nigerian Exchange LimitedThe Nigerian equities market opened the week on a bearish note as investors embarked on profit-taking in some high-cap stocks, leading to a loss of N94bn in market capitalisation at the close of trading on Monday.

Data from the Nigerian Exchange Limited showed that the market capitalisation dipped to N98.7tn from N98.8tn recorded on Friday, representing a 0.1 per cent decline. Similarly, the benchmark index fell by 148.90 points to close at 155,496.15.

Despite the overall decline, the market remains on a positive trajectory, reflecting a one-week gain of 3.71 per cent, a four-week gain of 9.4 per cent, and an impressive year-to-date return of 51.08 per cent.

Trading data revealed that investors exchanged a total of 502.99 million shares valued at N24.94bn in 39,945 deals, showing a 58 per cent decline in volume and a 21 per cent drop in turnover compared with the previous session, although the number of deals rose by 33 per cent.

Market activity was driven largely by trades in the financial and industrial sectors. Access Holdings led in volume with 68.9 million shares worth N1.62bn, followed by FBN Holdings with 66.6 million shares valued at N2.09bn. Others on the volume chart included Universal Insurance with 19.2 million shares, Sovereign Trust Insurance with 19.1 million shares, and Zenith Bank with 18.2 million shares.

On the value side, Aradel Holdings topped the chart with trades worth N5.63bn, followed by Presco with N2.25bn, FBN Holdings with N2.09bn, Dangote Cement with N1.65bn, and Access Holdings with N1.62bn.

The market breadth closed negative, with 25 gainers and 34 losers. Aradel Holdings led the gainers with a 10 per cent rise to close at N869 per share, while NEM Insurance gained 9.67 per cent to close at N32.90. Aso Savings & Loans appreciated 9.09 per cent, and Eterna rose 8.75 per cent.

On the losers’ chart, Deap Capital Management and Trust led with a 9.71 per cent decline to close at N1.58, followed by Champion Breweries, which fell 9.64 per cent to close at N15 per share. Red Star Express dropped 8.64 per cent, while Wapic Insurance and PZ Cussons shed 6.45 per cent and 5.94 per cent, respectively.

Sectoral performance was mixed, as the Oil and Gas Index gained 4.24 per cent, the Insurance Index rose 1.09 per cent, and the Main Board Index advanced 0.22 per cent. Conversely, the Pension Index fell 0.48 per cent, while the Top 30 Index declined 0.08 per cent.

The PUNCH reported that the Nigerian Exchange recorded its strongest performance in months as investors pushed the market higher by 4.48 per cent, adding N4.32tn to its overall value in a single week. The market capitalisation closed at N98.793tn, while the All-Share Index settled at 155,645.05 points, reflecting renewed investor confidence and increased activity across major sectors.

Dan Poster by — October 28, 2025 in Business 0
Apapa gridlock resurfaces as Truckers flood Port access roads

… Profiteering Syndicate allegedly fingered for fueling chaos
The notorious traffic gridlock that once crippled Apapa and its environs is gradually resurfacing, threatening to paralyze movement and port operations .
Despite previous interventions, residents, commuters, and port workers are now facing renewed evening congestion as truckers and tankers swarm the port access roads daily.
Investigations by the Network of Nigerian Maritime Journalists (NNMJ) revealed that while Apapa roads remain relatively free during the day, a long trail of trucks begins forming by evening from both the Costain and Mile 2 entry points.
From the Ijora-Olopa bridge to Apapa and from Coconut bus stop to Tin Can Island’s gates, trucks line up in droves, allegedly paying between N30,000 and ₦50,000 to secure a spot in the queue.
Sources alleged that some officials of key agencies—including the Nigerian Ports Authority (NPA), Nigerian Shippers Council (NSC), Lagos State Traffic Management Authority (LASTMA), Federal Road Safety Corps (FRSC) and the Nigeria Police—are complicit in the illegal toll collection, turning a blind eye as the situation worsens.
The most affected areas include such roads as Wharf , Warehouse, Commercial , Burma  and Creek .
By 5 PM, vehicle owners often abandon their cars and resort to motorcycles to escape the gridlock while their cars are out of the affected areas before the close of work daily.
Moses Fadipe, former National Coordinator of the Port Standing Task Team (PSTT), attributed the resurgence to the return of vested interests who previously profited from the chaos. He noted that the Lagos State Government knows what steps to take to prevent a full-blown crisis.
Martins Enibeli, President of the Nigerian Institute of Shipping (NIS) and the Nigerian Licensed Ship Chandlers Association (NILSCA), blamed government insincerity for the relapse.
He urged authorities to prioritise rail transport for cargo evacuation from Lagos ports and to revive Eastern and Delta ports to ease pressure on Apapa.
“Bonded terminals should be relocated far from the ports and connected by rail. Government must stop concentrating port operations in the West while neglecting other regions,” Enibeli stated.
A senior official, speaking anonymously, confirmed that a syndicate involving both state and non-state actors is profiting from the tolls collected from truckers, exacerbating the traffic crisis.
Stakeholders are calling for urgent federal intervention to dismantle the alleged racketeering network and restore sanity to Apapa’s transport corridors.
Dan Poster by — October 28, 2025 in Business 0
TRANSCORP GROUP REPORTS STRONG Q3 2025 PERFORMANCE, REVENUE UP 39% YOY

Transcorp Plc reports pre-tax profit of N38.8 billion in Q3 2025, up 54% - Nairametrics
Transnational Corporation Plc (“Transcorp Group”), Africa’s leading listed conglomerate, has announced its
unaudited Q3 2025 financial results, delivering strong growth across business
lines.
The Group recorded a 39% year-on-year increase in revenue, rising from
₦297.7 billion in Q3 2024 to ₦413.4 billion in Q3 2025.
Profit Before Tax (PBT) grew by 18%, closing at ₦124.5 billion, compared to ₦105.5 billion in the same period last year.
Transcorp Group maintained its strong growth trajectory, driven by the Company’s resilient business strategy and operational excellence.
 Transcorp Group delivered a revenue of ₦413.4 billion, representing a
39% rise from ₦297.7 billion in Q3 2024.
All operating units recorded significant growth, with the increased
power generation capacity at the Group’s power plants and expansion in the hospitality revenue stream with the inclusion of the 5,000-capacity
Transcorp Centre Abuja.
Sustained Profitability. Profit Before Tax rose by 18% to ₦124.5 billion, up from ₦105.5 billion in Q3 2024.
 Profit After Tax increased by 20.5%, reaching ₦91.4 billion, compared to
₦75.9 billion in 2024.
 The Group maintained a gross profit margin of 48%, reflecting disciplined
cost management and strategic pricing across its business units,
underpinned by a strong ethos of operational efficiency.
Chairman Transnational Corporation Plc, Tony O. Elumelu, CFR, commented;
“Transcorp’s robust revenue and earnings delivery demonstrates the opportunity in the Nigerian economy. Our diversified portfolio continues to
offer investors access to key drivers of Nigeria’s growth opportunity. As the macro-economic climate improves, the Group is well-positioned to take advantage of Nigeria’s extraordinary potential. We are executing our impact-
driven mandate through strategic investments that solidify our leadership in
Nigeria’s vital sectors. Our diversified model continues to demonstrate
resilience, generating significant value.
In power generation and distribution, we are closing the energy deficit in Nigeria, propelling national development. We increased our power
generation capacity at all our plants, and we remain committed to power Nigerians out of poverty. In hospitality, we are redefining excellence, with the
landmark Transcorp Centre Abuja setting a new standard for world-class events. We remain unrelenting in our commitment to delivering superior
shareholder returns and driving the long-term transformation of Nigeria’s economy.”
Commenting on the results, President/Group CEO of Transcorp Plc, Dr. Owen
Omogiafo, OON, stated:
“Transcorp Group’s Q3 2025 results demonstrate the successful execution of
our strategic direction, operational excellence and portfolio-wide efficiency.
Driven by our core purpose to “Improve Lives and Transform Africa”, we
continue to optimise our businesses to deliver superior stakeholder value.
As Nigeria’s leading conglomerate, with a disciplined approach to excellent
corporate strategy, we are positioned to finish the year with strength and
strategic momentum. We offer investors unique access to the Nigerian
economy, delivering sustainable returns for our shareholders and championing
economic growth.”
Transnational Corporation Plc  is one of Africa’s leading,
listed conglomerates, with strategic investments in the power, hospitality, and
energy sectors, driven by its mission to improve lives and transform Africa.
Transcorp’s power businesses, Transcorp Power Plc and Transafam Power,
provide over 20% of Nigeria’s installed power capacity. Transcorp is
committed to developing Nigeria’s domestic energy value chain through its
investments in OPL281. The Group’s hospitality business, Transcorp Hotels Plc,
owns the iconic Transcorp Hilton Abuja, Nigeria’s flagship hospitality
destination and Nigeria’s largest event venue, the Transcorp Centre Abuja.
Dan Poster by — October 28, 2025 in Business 0
Dangote refinery begins construction for 1.4mbpd expansion

Aliko DangoteThe Dangote refinery has officially begun construction work for the expansion of the facility from 650,000 barrels to 1.4 million barrels per day.

The President of the Dangote Group, Alhaji Aliko Dangote, made the announcement at a press briefing in Lagos on Sunday.

Flanked by his friend, the Chairman of First Bank, Mr Femi Otedola, Dangote said this would make the refinery the largest in the world.

Dangote said the company had signed an agreement with the technology licensor that will expand the facility.

“We are expanding the Dangote Petroleum Refinery from 650,000 barrels per day to 1.4 million barrels per day. Upon completion, this will make it the largest refinery in the world, surpassing the Jamnagar Refinery in India,” he said.

He maintained that the expansion would be completed within the next three years.

The billionaire businessman appreciated President Bola Tinubu and the Federal Government for their continued support and commitment to Nigeria’s industrial growth.

He also commended the president for enacting policies that support industrialisation, such as the Nigeria First policy, the Naira-for-crude policy, and the One-stop Shop, reportedly bringing “great revolution to the downstream sector that has emboldened the group to make this major step policy of ensuring domestic processing of all our crude and exporting only finished petroleum products.”

Despite current crude shortages, Dangote was optimistic that the Federal Government would make crude available to the single-train refinery.

He recalled that the Federal Government was instrumental in mediating recent disruptions at the refinery linked to union activities and “sabotage attempts”.

The expansion, he explained, reflected the company’s confidence in Nigeria’s future, in Africa’s potential, and its commitment to building energy independence for Africa and the world.

“It is also about confidence in Nigeria, in Africa, and in our capacity to shape our own energy future.

“It is the dream of President Bola Tinubu for Nigeria to emerge as one of the major suppliers of petroleum products in the world. And with his strong backing through previously stated policies, we are taking on the challenge to make this happen,” he added.

He added that 65,000 workers would be needed for the construction exercise, and 85 per cent would be Nigerians.

Dangote added that the refinery would also ramp up its power generation from 500 megawatts to 1,000 MW. He had signed an agreement with the technology licensor, which will expand it.

“With this expansion, we would require 65,000 workers during construction; such a project will further unlock opportunities for local industries. We will also be expanding our polypropylene production from 900,000 metric tonnes to 2.4 million metric tonnes per annum. This will further enrich the production of linear alkylbenzene, a key ingredient for the production of detergents, and the additional production of base oils.

“With this expansion, the refinery transitions from producing Euro V to Euro VI fuel standards, meeting the highest global environmental benchmarks, and expands power generation capacity, ensuring full operational self-sufficiency. Over 85 per cent of our workforce will be Nigerian, with ongoing investment in skills and technology transfer,” he stressed.

Within the next year, Dangote plans to list 10 per cent of the refinery shares on the Nigerian Stock Exchange, calling it a step toward broader ownership and market transparency.

“Therefore, we call on all Nigerians to seize this window, to benefit from this golden opportunity. Our long-term goal remains clear: to build Africa’s leading integrated energy and petrochemical hub, the first of its kind on the continent,” he said.

As the Yuletide approaches, Dangote assured Nigerians of fuel availability.

“As we approach the end of the year, Nigerians often face fuel shortages, long queues, and arbitrary price increases that cause great hardship for travellers and businesses alike. In the last three days, we have witnessed an 8 per cent spike in the global oil price.

“I want to assure Nigerians that the Dangote refinery is fully committed to maintaining an uninterrupted supply of petrol throughout the festive period. Our goal is to ensure consistent product flow at stable prices, eliminating the disruptions and exploitation that have become common during the ember months,” he added.

The businessman called on the “holders of the other 30 refinery licences to seize this opportunity to support Mr President’s dream of making Nigeria the refining hub on the continent.”

The Dangote refinery started operations in 2024, significantly reducing Nigeria’s years of dependence on fuel importation.

Nigeria has since become an exporter of fuel to countries across the world, including Saudi Arabia and the United States.

Dan Poster by — October 27, 2025 in Business 0
CBN pumps $1.25bn into fuel import, others

CBN headquartersThe Central Bank of Nigeria has released a total sum of $1.259bn to oil sector players for the importation of petroleum products and other related items into the country, The PUNCH reports.

The amount released between the first three months of 2025 is against the backdrop of the insistence of marketers to continue fuel import despite the availability of petrol from Dangote Refinery.

According to fresh data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Petroleum marketers imported 69 per cent of the 21 billion litres of petrol Nigerians consumed between August 2024 and the first 10 days of October 2025.

Between January and March 2025, a total of 2.28 billion litres of petrol were imported despite improved refined product output from the Dangote refinery.

Fuel imports, a significant consumer of foreign exchange, impact the country’s foreign reserves and the naira-to-dollar rate.

The volume represents one of the lowest quarterly import figures in recent years, reflecting the gradual shift towards local refining and blending of petroleum products.

A breakdown using the Central Bank of Nigeria’s quarterly statistical bulletin for the first quarter of 2025, the apex bank released a total of $1.26bn for import transactions between January and March.

A month-by-month breakdown showed that $457.83m was disbursed in January, representing 36.2 per cent of the total.

This dropped sharply to $283.54m in February, accounting for 22.5 per cent, before rebounding to $517.55m in March, which made up the largest share at 41.3 per cent of the total forex released for the quarter.

While NMDPRA data showed that the January imports stood at 724.5million litres, while 760 million litres and 803.7 million litres were brought in during February and March, respectively.

The struggle for market share between the Dangote Petroleum Refinery and fuel-importing marketers has intensified in recent months, as both sides compete for dominance in Nigeria’s downstream sector.

It could be recalled that while some marketers have insisted on importation, the Dangote refinery has been exporting petrol to other countries, including the United States. The 650,000 refinery has consistently boasted of its capacity to meet local fuel demands while exporting to foreign countries.

However, pricing has remained the major determinant for marketers when choosing a supplier, amid growing competition between the Refinery and fuel importers. Many operators in the downstream sector shift allegiance based on cost advantage rather than source.

Confirming the development, the National Publicity Officer of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, said marketers would naturally buy from any source offering the lowest price to stay in business.

Ukadike explained in an interview, “In this business, pricing is everything. Marketers will always go for the most affordable option because our margins are very thin. If imported products are cheaper, we have no choice but to patronise importers. But if Dangote’s refinery offers a better price, of course, we will buy locally.”

He added that the price gap between locally refined products and imports fluctuates depending on global oil prices, exchange rates, and government policies.

“No marketer can afford sentiment when it comes to survival,” he said. “Our decision is driven by economics, not emotion.”

Meanwhile, the latest Energy Bulletin released by the Major Energies Marketers Association of Nigeria has shown a further reduction in the estimated import parity price of key petroleum products, reflecting sustained pressure from global oil prices and exchange rate fluctuations.

According to the report, the estimated import parity price of Premium Motor Spirit has reduced to N805.46 per litre at the spot rate.

Dan Poster by — October 27, 2025 in Business 0
Seplat energy JV empowers Edo, Delta students with N18m

The Seplat Energy Plc, in partnership with its Joint Venture partner, the NNPC Exploration and Production Limited, has empowered Edo, Delta students with N18 m.

The firm made the disclosure shortly after the grand finale of the 2025 edition of the PEARLs Quiz competition for secondary schools across Edo and Delta States on Saturday in Asaba, the Delta State capital.

The Pioneer Education Centre, Edo State, emerged winner and took home the N10m prize money, while second and third placed schools, Notre Dame College, Uzoro, Delta State and Eucharistic Heart of Jesus Model College, Benin, Edo State, received N5 m and N3 m, respectively.

The PEARLs Quiz, which stands for Promoting Exceptional and Respectable Leaders, is one of Seplat Energy JV’s flagship Corporate Social Investment initiatives geared towards the promotion of academic excellence, nurturing critical thinking, and inspiring the next generation of leaders.

In her opening remarks, the Director of External Affairs and Social Performance, Seplat Energy, Chioma Afe, represented by Hadiza Garbati, General Manager, Government Relations, Seplat, welcomed the governments of Delta and Edo States and congratulated all the participants, particularly those who made it to the grand finale.

The initiative, she pointed out was conceived for promoting exceptional and respectable leaders, dating back to 2012, which has seen Sepalt remain active in host communities and helping to foster students in the right direction.

She noted that by the quality of participation in this year’s edition, the students have demonstrated that the initiative is already bearing fruit by nurturing young people. “A school might be going home today with the prize, but all of you are already winners, and I congratulate you,” she said.

According to her, the learning each participant had gained from the PEARLs Quiz will make him or her a better person in the journey of life.

She commended the teachers, many of whom have also been trained under various CSI initiatives of Seplat for encouraging the students to make the 2025 PEARLs Quiz a huge success

In addition to the quiz competition, the grand finale also featured the STEAM Innovation Challenge, where students showcased inventive projects in the areas of science, technology, engineering, arts, and mathematics

On his part, Nicolas Foucart, Managing Director of NNPC Exploration and Production Limited, represented by the Corporate Communication Department’s Godwin Ijiga, expressed joy at the enthusiasm and brilliance demonstrated by the participants across Edo and Delta States.

In his remarks, Sheriff Oborevwori, Delta State Governor, represented by Ms. Orode Udughan, Delta State Commissioner for Humanitarian Affairs, Community Support Services and Girl Child Development, commended the Seplat JV for the initiative, which he said has greatly impacted students in Edo and Delta states for many years.

She said, “Today, we celebrate not just a contest but the brilliance, promise and potential of our young people, the true future of our states and our nation.

“On behalf of the government and people of Delta State, I extend profound appreciation to Seplat Energy and the NNPC Joint Venture for their consistent and impactful investment in education.

“The PEARLS quiz, which translates to promoting exceptional and respectable Leaders, is a shining example of corporate social responsibility that aligns perfectly with our developmental vision.

“For years, this initiative has provided a vibrant platform for students to demonstrate intellect, confidence and character while promoting the culture of academic excellence.

Dan Poster by — October 27, 2025 in Business 0
*Polaris Bank restates support for SMEs growth in Nigeria with launch of ‘EveryDay supermarket’ Yenegoa branch*

Polaris Bank has reaffirmed its commitment to supporting small and medium-scale enterprises (SMEs) and driving economic growth in Nigeria’s South-South region with the commissioning of the new ‘Everyday Supermarket’ Yenagoa Store.
The grand opening, which took place yesterday at Bay Bridge Junction on the Kpansia-Epie Expressway, Bayelsa State , marks the retail chain’s entry into the Bayelsa market and a significant milestone in the region’s business expansion efforts.
Speaking at the event, Mr. Raphael Abaziem, Directorate Head, Polaris Bank, South-South, described the launch as a testament to growth, resilience, and the power of strategic partnership.
“This milestone represents more than the opening of a new outlet. It speaks to our shared vision of economic expansion, local enterprise development, and improved access to quality goods and services for the people of Bayelsa State,” Abaziem stated.
He further noted that the new outlet builds on earlier successes, including Polaris Bank’s financing of the Everyday Group’s flagship shopping complex in Port Harcourt in February, 2025.
“When we partner, we empower, expand, and raise the bar for retail development across Nigeria. Polaris Bank is proud to have supported this journey and to stand with ‘Everyday Supermarket’ as it extends its footprint and impact. We look forward to deepening our collaboration and continuing to support businesses that are creating opportunities, empowering communities, and driving sustainable development across the country,” he added.
In his remarks, Mr. Yemi Osindero, Chairman of ‘Everyday Supermarket’, expressed delight at the brand’s expansion into Bayelsa, noting that the group continues to grow from strength to strength.
“Everyday Group is 28 years old, with 15 stores across the South-East and South-South, including Owerri, Asaba, and Abakaliki. We are excited to be in Yenagoa for the first time and look forward to opening more stores in Bayelsa. Plans are also underway to expand into Aba, Benin, Uyo, Enugu, and Abuja,” Osindero said.
The launch of the Yenagoa branch underscores Polaris Bank’s role as a key enabler of enterprise development and its commitment to supporting businesses that drive local economic empowerment and regional growth.
Dan Poster by — October 27, 2025 in Business 0
Access Holdings Reports ₦2.5 Trillion Gross Earnings in H1 2025

Access Holdings Plc (“the Group” or “the Company”)  yesterday announced its half-year audited financial results for the period ended June 30, 2025.
The Group’s  financial results for the half year ended June 30, 2025, reflect the resilience of our business model, the diversification of our revenue streams, and the steady progress to the execution of our five-year strategic plan.
Gross earnings increased by 13.8% year-on-year to ₦2.5 trillion in H1 2025 from ₦2.2 trillion in H1 2024, driven by strong growth in interest income which increased by 38.9% year-on-year to ₦2.0 trillion from ₦1.5 billion in H1 2024.
Net interest income also increased by 91.8% year-on-year to ₦984.6 billion in H1 2025 from ₦513.4 billion in H1 2024.
Complementing this performance was a growth in net fees and commission income, which increased by 16.1% year-on-year to ₦237.7billion in H1 2025 from ₦204.7 billion in H1 2024.
Profit before tax (PBT) and profit after tax (PAT) closed at ₦320.6 billion and ₦215.9 billion respectively underscoring the strength and resilience of our business model in the markets we operate in.
Key balance sheet indicators remain strong with total assets, customer deposits,  loans and advances, and shareholders’ equity closing at ₦42.4 trillion, ₦22.9 trillion, ₦13.2 trillion ₦3.8 trillion respectively.
The Banking group demonstrated resilient performance in H1 2025. Interest income grew by 38.7% year-on-year to ₦2.0 trillion in H1 2025 from ₦1.5 trillion in H1 2024. Net interest income increased by 85%, from ₦536.7 billion in H1 2024 to ₦992.7 billion in H1 2025. Fee and commission income increased by 27% to ₦294.9 in H1 2025 from ₦232.5 billion in H1 2024 driven by increased transaction volumes. Profit before tax (PBT) and profit after tax (PAT) closed at ₦303.0 billion and ₦199.3 billion respectively.
Banking group subsidiaries contributed 65% to the Banking group’s profit before tax (PBT) in H1 2025. This result highlights our journey towards sustainable performance and execution across our key African and international markets.
The Group’s  non-banking subsidiaries maintained a strong growth momentum. For Access – ARM Pensions, financial performance was robust, with revenue up 29.9% to ₦21.0 billion and profit before tax up 65.1% to ₦13.1 billion. The business delivered a solid ROAE of 48.1%, a cost-to-income ratio of 35.1%, and a PBT margin of 62.5%, underscoring strong operational efficiency and profitability.
Hydrogen Payments recorded a 40.5% growth in top-line revenue compared to H1
2024. Profit before tax (PBT) grew by 273% year-on-year. The total transaction value processed increased by 211%, reaching ₦41.1 trillion in H1 2025, up from ₦13.8 trillion in H1 2024.
Access Insurance Brokers has sustained strong momentum, recording a 125% year-on-year increase in gross written premium, 146% growth in revenue, and a 161% improvement in profit before tax (PBT).
Oxygen X, the Group’s digital lending arm, has sustained strong momentum since launch in Q3 2024, delivering ₦5.4 billion in revenue and ₦2.2 billion in profit before tax in H1 2025.
Access Holdings’ businesses are well-positioned to deepen market penetration, expand product offerings, and leverage cross-sell opportunities across the Group to drive continued growth and profitability.
The group’s focus remains on driving prudent growth and continued execution of its strategic priorities, scaling its digital and transaction-led income streams, increasing revenue diversification, embedding efficiency, innovation, and disciplined portfolio management across all areas of the business. It will also continue to uphold the highest standards of risk and governance discipline to ensure sustainable profitability.
Access Holdings remains confident that it will continue to deliver sustainable value and returns to its  shareholders. Its long-term objective is to build a stronger, more agile Group that consistently delivers superior returns, fosters innovation-driven growth, and optimises portfolio performance to create inclusive value across its markets while reaffirming investor confidence in the strength and future of Access Holdings.
The Group appreciates the continued trust and support of its shareholders, customers, and employees. Together, the Group is building a stronger future.
Dan Poster by — October 27, 2025 in Business 0
PremiumTrust Bank earns strong GCR ratings

PremiumTrust BankA four-year-old bank, PremiumTrust Bank, has earned an impressive credit rating from Global Credit Ratings, one of Africa’s leading rating agencies.

The bank received an A- (NG) long-term and A2 (NG) short-term rating, a recognition that underscores its strong capitalisation, sound risk management practices, and consistent growth trajectory in Nigeria’s dynamic banking sector.

This was contained in a statement obtained by our correspondent from the bank on Thursday.

According to GCR, the ratings reflect PremiumTrust Bank’s financial resilience, buoyed by a successful equity raise and improved profitability.

The agency commended the Bank’s robust liquidity position and prudent governance framework, both of which continue to support its credit profile amid expansion across Nigeria’s competitive financial landscape.

GCR further noted that the bank’s ratings are anchored by its solid capitalisation metrics, strengthened by an equity injection that enhanced its balance sheet.

The agency also assessed PremiumTrust Bank’s funding and liquidity position positively, highlighting a stable funding structure and a strong liquidity buffer.

Current and savings account deposits accounted for 92.1 per cent of total deposits, resulting in a low cost of funds of 3.8 per cent, while the deposit base remained well-diversified.

The A- (NG) Long-Term Rating indicates low risk, very good financial strength, and excellent operating performance, whereas the A2 (NG) Short-Term Rating denotes fair credit quality and adequate capacity for timely payment of financial commitments.

These assessments showed PremiumTrust Bank’s ability to meet its obligations efficiently while sustaining growth momentum.

In addition to the GCR rating, PremiumTrust Bank also secured A- (NG) Long-Term and A2 (NG) Short-Term ratings from another reputable credit rating agency, DataPro.

The agency’s evaluation took into account the Bank’s earnings profile, liquidity strength, corporate governance, regulatory compliance, and sustainability of its healthy financial outlook over the medium to long term. DataPro described the Long-Term Rating as indicative of low risk and very good financial strength, while the short-term rating reflects Fair Credit Quality and adequate capacity for timely payments.

The statement partly reads, “The ratings highlight PremiumTrust Bank’s financial resilience, following a successful equity raise and enhanced profitability. GCR commended the Bank’s robust liquidity and prudent governance framework, which continue to underpin its credit profile even as it expands across Nigeria’s competitive banking landscape.

“According to GCR, the Bank’s ratings are anchored by its robust capitalisation metrics, strengthened by a successful equity injection. The agency also assessed PremiumTrust Bank’s funding and liquidity position positively, citing a stable funding structure and a sufficiently liquid balance sheet. Current and savings account deposits represented a significant 92.1% of total deposits, translating to a low cost of funds of 3.8%. The deposit base remains well-diversified.

Dan Poster by — October 25, 2025 in Business 0