Fidelity Bank Plc, a leading financial institution, has released its unaudited financial statements for the third quarter ended September 30, 2025. The results show impressive performance across key income lines and operational metrics.

According to the statements published on the Nigerian Exchange Group (NGX) portal on November 21, 2025, the Bank reported Gross Earnings of ₦366.1 billion for Q3 2025. This represents an 8 percent increase from the ₦338.9 billion recorded in Q3 2024. The growth was driven by strong interest income and sustained momentum in fee-based revenues.

Interest Income, calculated using the effective interest rate method, rose by 33 percent to ₦285.6 billion in Q3 2025, compared to ₦214.7 billion in Q3 2024. Other Interest Income more than doubled, rising from ₦13.0 billion in the corresponding period of 2024 to ₦34.2 billion. This underscores significantly improved returns from non-core lending activities.

Year-to-date, the Bank achieved a major milestone with Gross Earnings surpassing ₦1.1 trillion, the highest in its history. This is an increase from ₦772.5 billion in Q3 2024. The Bank’s total assets also crossed the ₦10 trillion mark, driven by robust growth in cash, customer loans, and investment securities; this compares to ₦8.8 trillion in Q3 2024. Net Interest Income for the nine-month period reached ₦565.3 billion, while fee and commission income totaled ₦84.5 billion. The respective figures for Q3 2024 were ₦470.5 billion and ₦56.3 billion.

Credit Loss Expenses moved to ₦900 million from ₦32.8 billion in Q3 2024; however, Net Interest Income remained flat at ₦144.8 billion, compared to ₦143.7 billion in Q3 2024. This reflects improved asset quality and effective risk management practices. Fee and Commission Income grew by 47.2 percent to ₦31.1 billion, up from ₦21.1 billion in Q3 2024, driven by increased transaction volumes and digital banking adoption. Foreign currency revaluation gains contributed ₦14.1 billion to Non-Interest Revenue, while other Operating Income rose to ₦1.1 billion from ₦447 million in Q3 2024.

The Central Bank of Nigeria (CBN) has promised to broaden monetary tightening measures as part of overall economic stimulus to ensure stability in Nigeria’s economy.

The Bank said its guided policy measures has resulted in inflation decline to 16.05 per cent, while the exchange rate has stabilised below ₦1,500/$ with minimal volatility, and external reserves now exceed $46 billion, providing over 10 months of import cover.

Monetary policy adjustments are supporting lower lending rates as inflation continues to ease, the Bank reported.

The the Deputy Governor, of the Bank, Ms. Emem Usoro, in address at the Seminar for Finance Correspondents and Business Editors, which opened in Lagos on November 20–21, 2025, recalled that when the Governor, Olayemi Cardoso management team assumed office two years ago, the macroeconomic environment was challenging.

Inflation was high, the naira was unstable due to forex scarcity, external reserves and oil receipts were low, and the economy faced significant FX backlogs and dependence on ways and means financing. These conditions stressed the financial system and highlighted the urgent need for reforms.

Represented by Mrs Hakama Sidi Ali, Ag. Director, Corporate Communications Department CBN, Usoro, said the theme of the engagement, “Aligning Monetary and Fiscal Policies Towards Achieving a Robust Financial System,” is timely, as it provides an opportunity for open discussions and recommendations that will enhance understanding of current government reforms and the collaboration needed to ensure positive outcomes for Nigerians.

She said the Apex Bank, guided by strong and transparent leadership, has implemented well-sequenced and compliance-driven measures, including orthodox monetary policies, strengthened corporate governance, and the ongoing bank recapitalisation programme. These actions, aligned with the Federal Government’s reform agenda, have helped restore stability and improve key macroeconomic indicators.

These achievements reflect the commitment of the Central Bank of Nigeria under the leadership of Governor Olayemi Cardoso and his team, and underscores the importance of the media in communicating the benefits and progress of reforms to the public. Effective communication strengthens public understanding and supports successful policy outcomes.

While progress has been made, more work is required to improve macroeconomic fundamentals and the standard of living for Nigerians.

This makes partnerships among policymakers, regulators, and the media even more important, she added.

According to her, Aligning fiscal and monetary policies is essential to strengthening the financial system, enhancing regulation, and ensuring resilience, especially as technological innovation and digital finance continue to expand, adding, “Better coordination promotes transparency, accountability, policy discipline and credibility, leading to improved economic outcomes. The media also has an important role in explaining policies clearly and accurately to citizens.”

Two months after sounding a sharp warning, the Nigeria Civil Aviation Authority (NCAA) has fined Qatar Airways ₦5 million for multiple consumer-protection breaches.

The penalty was announced on November 19 via the official X (Twitter) handle of the NCAA’s Director of Public Affairs and Consumer Protection, Michael Achimugu, (@mikeachimugu01).

According to Achimugu, the sanction stems from Qatar Airways’ continued disregard for NCAA determinations and its failure to respond to several letters of investigation. He added that additional unresolved cases could attract more penalties if the airline fails to offer satisfactory responses.

The fine follows a disturbing incident Achimugu made public on September 19. In that case, a cabin crew member allegedly accused a male passenger of misconduct while assisting with boarding on the Lagos–Doha route. The claim was later proven false, yet the passenger was detained for nearly 18 hours in Doha, forced to pay fines, and compelled to sign a document written solely in Arabic—a language he could not understand. Even after clearing him, Qatar Airways reportedly refused to fly him onward, pushing him to buy new tickets at his own expense.

In his November update, Achimugu reiterated the regulator’s stance on compliance, saying the NCAA remains committed to protecting the rights of all aviation stakeholders. He stressed that Part 19 of the NCAA Regulations 2023 requires all airlines operating in Nigeria to respect consumer-protection standards, warning that providing false information or ignoring regulatory directives is unlawful.

Qatar Airways is not the only carrier under scrutiny. Achimugu confirmed that Royal Air Maroc and Saudi Air have also been formally cautioned for similar issues and may face sanctions if they fail to comply with NCAA rulings.

By imposing the fine two months after its initial warning, the NCAA signals that it will follow through on enforcement and will not overlook violations.

The sanction underscores the authority’s commitment to due process, accountability, and the protection of air travellers in Nigeria.

Some First Bank retirees protested at the bank’s headquarters in Marina, Lagos, on Wednesday, demanding improved welfare.

The protesters, who held placards, accused the bank’s management of years of neglect and failure to review their pensions and medical allowances for over 20 years.

The PUNCH reports that this is not the first time the pensioners have demanded improvements in their welfare. In September 2024, the National Union of Pensioners FBN Unit accused First Bank of Nigeria’s management of continually refusing to comply with court orders, pension reforms and signed agreements.

Speaking at the protest on Wednesday, the Vice Chairman of the group, Sunny Aluko, said several members had died while waiting for improvements from the bank’s management.

“We are protesting because First Bank has denied us our rights for 15 to 20 years, paying only a monthly salary of N15,000 and an annual medical allowance of N30,000, which have not been reviewed. People are dying due to inadequate support.

We urgently need enhanced pensions and medical allowances.”

“We have engaged them several times. We were here on 15 February this year. Up to now, they’ve not done anything reasonable for us, and that’s why we are here to protest against their inaction.”

The General Secretary of the National Union of Pensioners, First Bank Unit, Paul Imhoagene, said: “At N15,000, that is 500 Naira every day. The medical is N30,000 per annum; that is 250 naira every month. Based on market forces, the current inflation is very high, and the naira is weak.

Our purchasing power cannot meet market demands. We cannot meet our responsibilities at all. We have no money to take care of our old age. Some of us are bedridden.

“As of last year, the total population of pensioners was over 4,000. Currently, we are not up to 2,900. You can imagine the number of pensioners who have passed away. We have had a series of meetings with First Bank management. They will tell us, ‘Come today, come tomorrow.’ They have been twisting us all over the place. They are talking about the corporate image of the bank. What about the corporate names of our members who are dead? We have been degraded. First Bank pensioners are suffering. We can no longer pretend. We have proposed today that our annual medical allowance should be N500,000 based on current market forces, and our monthly pension should be N350,000.”

Imhoagene also claimed that the bank hired a consultant, who offered a one-time payment of N1m to the retirees.

“We overwhelmingly rejected the template. Now we are telling them, ‘Let us start from where we stopped.’ They refused. We are ready to embarrass. I’m sending this note of warning to First Bank. We are ready to embarrass you. Some of you occupying that position today will not be there tomorrow. People were there before. We were there before. But look at where we are.”

One of the protesting retirees, Mrs Adetokunbo Onibudu, said: “First Bank management is not humane at all. For the past 20 years, there has been no increase in our pension: N15,000 a month. With the current situation, it cannot even be used to buy food for the dogs in their houses. But they are enjoying it; they say they are enjoying our labour. The hen that lays the golden eggs, they are forgetting us. Many of us are bedridden. Many of our colleagues are sick at home; they cannot come out. One of us fell in the bathroom; his hand is now injured, and he can’t use it. They are paying him N15,000 per month and N30,000 a year for medical, which is 30 naira a day to buy Panadol. Panadol is even N200 nowadays.”

The National Trustee (1) of the First Bank Pensioners’ Unit, Adekunle Ajibola, said the retirees had repeatedly appealed for adjustments but were told the bank could not fund the increase from its profit and loss account. According to him, past leadership of the bank created a pensioners’ trust fund for such situations, but the retirees claim they have not been allowed access.

“We are left with only monthly pensions and annual medical allowances, which have not been reviewed for 15 years,” Ajibola said. “We went to court and won, yet the judgement has not been respected.”

Another retiree, Kaosarat Thani, lamented that she receives N18,000 monthly, making her one of the highest paid among the retirees.

“I am collecting N18,000, but many of us have been receiving N15,000 for over 20 years. No increase of one kobo. Our members are dying in droves. Presently, they want to build 40-storey buildings while the pensioners are dying.”

The union leaders insisted their agitation is not to harm the bank but to demand fairness for those who “used their youth and strength” to build the institution. They vowed to take their protest national and international if necessary.

As of press time, First Bank management had not publicly responded to the latest demonstration. The General Secretary announced that the retirees would be taking the protest nationwide in the coming days.

The Chairman of the Revenue Mobilisation Allocation and Fiscal Commission, Dr Mohammed Shehu, has assured that Kogi State will begin to receive its due share of the 13 per cent derivation fund following its recognition as an oil-producing state.

Shehu gave the assurance in Abuja on Tuesday during a high-level interactive session with the Kogi State Governor, Alhaji Ahmed Usman Ododo, and his delegation at the Commission’s headquarters. This was according to a press statement by the Head, Information and Public Relations Unit of the Commission, Maryam Umar-Yusuf, on Wednesday.

According to the statement, the meeting focused on Kogi’s eligibility for the derivation fund, the optimisation of the state’s resource endowments, and the need for transparency in the allocation process. The chairman reaffirmed the commission’s mandate to uphold equity and fiscal justice in the distribution of national revenues.

“Our role is to ensure that the state receives its rightful share of resources, whether from oil, gas, or solid minerals, and that every allocation is properly documented and protected,” he said.

He added, “Whatever issue you table before us, we will try as much as possible, within the provisions of the law, to see that Kogi State gets what it deserves. We will stand firmly with you to provide the data, guidance, and technical support needed to optimise these resources for the benefit of your citizens.”

To address the concerns raised by the state, Shehu directed the establishment of a multi-agency committee comprising representatives from RMAFC’s Gas Investments and Crude Oil Departments, the Nigerian Upstream Petroleum Regulatory Commission, and the Kogi State Government.

The committee is expected to examine the technical and administrative issues delaying the disbursement of the derivation funds and propose solutions.

Governor Ododo, in his remarks, expressed concern over the state’s exclusion from derivation benefits despite its recognition as an oil-producing state. He stressed that Kogi was blessed with a wide range of natural resources, including oil, gas, and solid minerals, yet was not receiving its constitutional entitlements under the 13 per cent derivation formula.

He said, “I thank you most sincerely for this warm reception and for your vision. We look forward to continued engagement with the Commission to ensure that the resources of Kogi State are fully optimised and benefit our people.”

Federal Commissioners of the Commission also weighed in on the discussions. Rakiya Ayuba-Haruna (Kebbi State) stressed the importance of accurate data in the administration of derivation funds, while Desmond Akawor (Rivers State) urged the Kogi delegation to carefully study the legal frameworks introduced by the Petroleum Industry Act to avoid contractual pitfalls.

On the management of solid minerals, Dr Udodirim Okongwu, who represented the Commission’s Secretary, advised the state to establish official buying centres. According to him, this would make it easier to track mineral transactions and provide the necessary data for revenue attribution.

Also speaking, the Kogi State Commissioner for Finance, Budget and Economic Planning, Hon Ashiru Asiwaju, said the state government was committed to attracting more investments in the oil and gas sector by improving transparency and disseminating critical information to potential investors.

The Assistant Director and Head of the NUPRC delegation, Mrs Ekekhide Jennifer, confirmed that production activities were already ongoing from OPL 915 (now OML 155), which falls within Kogi territory. He, however, stressed the importance of infrastructure and security in sustaining oil and gas investment in the state.

The session ended with a shared commitment to improving fiscal governance, ensuring accountability in the management of derivation funds, and using Nigeria’s extractive resources to drive development in Kogi State.

The Securities and Exchange Commission (SEC) has released key details of the SEC/Nigerian Capital Market Institute (NCMI) Compliance Summit 2025, scheduled to hold from November 24–25 at the Lagos Oriental Hotel, with a strong emphasis on reforms to the Investments and Securities Act (ISA) and the integration of technology-driven compliance practices across Nigeria’s capital market.

Positioned as a strategic continuation of the successful 2024 edition, the 2025 summit will focus on strengthening transparency, efficiency, and resilience within the capital market ecosystem.

According to the Commission, the event aims to promote innovation-led regulatory practices that address emerging risks while supporting the evolving market structure.

The summit, with the theme “Innovation and Compliance – Balancing Risks and Opportunities,” will convene capital market operators, self-regulatory organizations, FinTech innovators, regulators, and compliance professionals to discuss risk-based, forward-looking compliance strategies.

The SEC said compliance officers are expected to participate, given their central role in safeguarding market integrity and ensuring institutions adapt swiftly to regulatory changes.

The Commission explained that the gathering will promote innovation-driven compliance strategies to enhance regulatory efficiency, deepen dialogue on beneficial ownership transparency and customer due diligence, and highlight the importance of RegTech and data analytics for real-time transaction monitoring.

It will also emphasize stronger board and senior management involvement in fostering a robust compliance culture, along with strengthening public-private sector collaboration to sustain Nigeria’s progress in Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT).

According to the SEC, the summit will provide an unparalleled platform for in-depth analysis of regulatory evolution, featuring expert-led sessions examining ISA 2025 compliance requirements and changing expectations for market participants. It will also facilitate multi-stakeholder engagement on technology innovation and risk, especially as digitization accelerates through the growth of Virtual Asset Service Providers (VASPs) and FinTech platforms, creating a greater need for advanced compliance tools such as RegTech and data analytics.

The Commission added that the forum will help build clarity and consensus on leadership responsibilities in compliance by addressing ambiguities, sharing insights, and strengthening governance frameworks that integrate compliance into strategic decision-making. It will further outline both immediate and long-term strategies for implementing the new law, addressing potential gaps, and developing practical solutions.

The summit is also expected to support knowledge transfer and capacity building by aligning stakeholder perspectives, fostering trust, and collectively developing resilient and forward-looking compliance models.

The SEC described the 2025 Compliance Summit as a pivotal step in advancing financial integrity, innovation, and investor confidence in Nigeria’s capital market as the regulatory landscape continues to evolve.