Zenith Bank Plc has launched the inaugural edition of its Girl-Child Empowerment Programme, titled Banking on Her Tomorrow. The event, held in Lagos, brought together 300 schoolgirls for mentorship sessions covering finance, digital responsibility, and personal development. Championed by the bank’s GMD/CEO, Adaora Umeoji, the initiative aims to foster leadership and financial literacy among the younger generation, reinforcing the bank’s long-term commitment to advancing opportunities for women and girls.

Nigeria’s 36 states and the Federal Capital Territory recorded a 41.2% increase in total internally generated tax revenue, reaching N3.79 trillion in 2025. Pay-As-You-Earn (PAYE) taxes remained the primary driver, surging 40.3% to N2.64 trillion and accounting for nearly 70% of total tax collections. This growth is largely attributed to nationwide adjustments in public and private sector wages, following the implementation of the new national minimum wage and corporate salary revisions to combat inflation.

Zenith Bank founder Jim Ovia is set to receive approximately N8.7 billion in interim dividends for the first half of 2026. The payout follows the bank’s decision to increase its interim dividend to N1.50 per share, up 20% from the N1.25 per share declared in the same period last year.

Ovia, who retired as chairman in April 2026, holds a combined 5.80 billion shares in the financial institution, representing 14.13% of its total outstanding equity. The dividend is scheduled for payment on October 30, 2026, to shareholders on the register as of the October 23 qualification date. For the first half of 2026, Zenith Bank reported a profit before tax of N637.6 billion.

Zenith Bank’s non-banking subsidiaries, Zenith Pensions Custodian Limited and Zenith Nominees Limited, reported a combined profit before tax of N9.11 billion for the first half of 2026. This performance, largely driven by the pension custodian unit, represents over 60% of their total 2025 earnings. Additionally, the group’s recent acquisition of Paramount Bank Kenya has further expanded its non-banking reach into East Africa through new insurance and advisory entities. At the group level, Zenith Bank reported a consolidated half-year profit of N637.60 billion, supported by improved margins and reduced impairment charges.

Zenith Bank Plc’s international subsidiaries delivered a strong performance in the first half of 2026, reporting a combined profit before tax of N166.09 billion. This growth was driven by significant contributions from operations in Ghana and the United Kingdom, which remain the group’s largest offshore entities, as well as new market entries in Kenya and Côte d’Ivoire. Reflecting this robust international performance, the bank has announced a 20% increase in its interim dividend to N1.50 per share, payable on October 30, 2026.

Zenith Bank Plc has reported a pre-tax profit of N637.6 billion for the half-year ending June 30, 2026, marking a 1.9% year-on-year increase. The performance was driven by improved net interest margins, lower funding costs, and a significant 81% reduction in impairment charges. Consequently, the bank has announced a 20% increase in its interim dividend to N1.50 per share, payable on October 30, 2026, to shareholders on the register by October 23, 2026. Despite a rise in tax expenses following the Nigerian Tax Act 2025, the bank maintains strong capital adequacy at 25.1%.

Zenith Bank has reported a profit before tax of N637.6 billion for the half-year ended June 30, 2026, marking a 1.9% increase year-on-year. Despite the rise in pre-tax profit, the bank’s profit after tax dropped 19.1% to N430.8 billion, driven by a significantly higher tax charge.

The results reflect a shift in the bank’s earnings drivers; while impairment charges decreased sharply by 81.5% compared to the same period in 2025, the bank recorded a N284.9 billion loss on currency trading, a reversal from the significant gains enjoyed during the previous year’s currency volatility. Net interest income also saw a 7.4% decline as lending yields compressed. However, fee and commission income provided a positive offset, growing 39.6% to N178.8 billion. Zenith Bank’s board has proposed an interim dividend of N1.50 per share, an improvement on the N1.25 paid during the same period last year.

Nigerian banks have significantly strengthened their market positions in the 2026 African Banker Top 100 ranking, following a successful industry-wide recapitalisation. The combined Tier 1 capital of Nigerian lenders in the ranking surged by 48 percent to $15.2 billion, outpacing growth in other major African regions.

United Bank for Africa (UBA) led the charge, climbing five places to 15th, while Access Holdings recorded the highest capital growth on the continent at 60.9 percent. Other notable movers included GTBank and Stanbic IBTC, which jumped 35 places. This capital expansion, supported by CBN reforms that saw banks raise over N4.65 trillion, has restored the continental influence of Nigerian lenders, positioning them to better finance infrastructure and intra-African trade. Continent-wide, Tier 1 capital among the top 100 banks reached $155 billion, a nine-year high.

The National Bank of Ethiopia is currently processing applications from two foreign banks seeking to establish greenfield operations in the country. This move follows Ethiopia’s recent policy reform that ended a five-decade ban on foreign banking, aiming to boost capital, competition, and financial inclusion in Africa’s second-most populous nation. While the identities of the applicants remain undisclosed, the development signals a significant shift as major African lenders, including Nigeria’s Zenith Bank and FirstBank, continue to evaluate the newly opened, yet highly regulated, Ethiopian market.

The Nigerian stock market cooled during the week ended October 2, 2026, as profit-taking in large-cap stocks led the NGX All-Share Index to decline 0.52% to 250,808.27 points. Market capitalization dropped by N812.61 billion to N162.843 trillion, though year-to-date returns remain robust at 61.17%. The shortened trading week, influenced by the Independence Day holiday, saw reduced market activity with total turnover value falling 32.5% to N155.023 billion. Notable decliners included NGXGROUP, ETRANZACT, and several banking heavyweights, while ABC TRANSPORT emerged as the top performer with a 45.10% gain. Analysts suggest the market is shifting into a consolidation phase as investors await Q3 earnings results and assess the impact of recent monetary policy adjustments. Selective stock picking based on fundamental strength and dividend potential is advised over chasing momentum-driven rallies.

The Nigerian Exchange (NGX) is experiencing a period of market cooling as investors engage in profit-taking following a sustained bullish run that has pushed the market to record highs. Leading banking equities, including GTCO, Zenith Bank, UBA, Access Holdings, and Fidelity Bank, have seen notable price corrections, alongside weakness in the industrial and consumer goods sectors.

Despite this retracement, market analysts view the shift as a normal technical correction rather than a fundamental downturn. The All-Share Index, which maintains a year-to-date gain of over 62%, is currently testing resistance levels. Systemic liquidity remains robust, suggesting that investors are reallocating capital rather than exiting the market, with the transition moving from speculative sentiment to an earnings-led investment phase.

Fenchurch Group has commenced the reconstruction of the 26-megawatt Akute Independent Power Plant, a critical project designed to power major Lagos State waterworks, including the Iju and Adiyan facilities. Funded by Zenith Bank, the plant will utilize new MWM gas engines to replace legacy equipment, with excess power to be exported to Ikeja Electric. The project is expected to support the production of 185 million gallons of water daily, serving approximately four to six million residents. Phase one of the delivery, consisting of 10MW, is scheduled for completion within four months, with full capacity expected by early 2027.

Fenchurch Group has commenced the reconstruction of the 26 MW Akute Independent Power Plant to provide dedicated electricity to critical water infrastructure in Lagos State, including the Iju and Adiyan waterworks. The project, financed by Zenith Bank, involves replacing existing engines with new MWM gas technology. Delivery is phased, with 10 MW expected within four months and the full 16 MW capacity following within a year. Surplus power will be supplied to the Ikeja Electric network. This initiative aligns with broader state efforts to improve public water services through public-private partnerships.

Femi Otedola, Chairman of First HoldCo Plc, has publicly endorsed the economic reform agenda of President Bola Tinubu, citing improved macroeconomic stability. Otedola highlighted several key milestones, including the rise in foreign reserves to approximately $55 billion, a more stable foreign exchange market, and the recent inclusion of six Nigerian firms—including FirstHoldCo, Zenith Bank, GTCO, Dangote Cement, Aradel, and MTN Nigeria—in the FTSE Russell Frontier 50 Index as indicators of renewed investor confidence.

Nigerian stocks listed on the FTSE Russell Frontier Market Index saw significant activity this week, driven by renewed investor interest following Nigeria’s formal return to the index on September 21. Among the 31 constituents, 16 recorded gains, with NAHCO and Fidelity Bank leading the surge. Fidelity Bank also emerged as the most traded stock, recording 893.69 million shares valued at N18.30 billion. Analysts attribute the positive performance in the financial services sector to the recent 350 basis point MPR cut to 23 percent, which is expected to support credit growth and valuations. While foreign interest is anticipated to rise, market experts caution that the full impact of the index reclassification will unfold gradually as institutional investors strategically deploy capital. Total turnover for the index constituents reached 2.21 billion shares worth N120.31 billion, accounting for nearly half of the total market volume for the week.

The Nigerian equities market recorded its third consecutive week of gains, with the NGX All-Share Index rising 0.92% to close at 252,113.41 points. This rally, which pushed the year-to-date return to 62.01%, was largely fueled by renewed buying interest following the Central Bank of Nigeria’s decision to cut the benchmark monetary policy rate by 350 basis points. Market capitalization grew by N1.498 trillion to hit N163.655 trillion. Trading volume increased by 45%, with the Financial Services sector leading activity. Notable corporate actions included the delisting of STACO Insurance and a share listing for Neimeth International Pharmaceuticals. Despite a marginal dip in the final session, market breadth remained positive.

The Nigerian Exchange Limited (NGX) maintained its bullish momentum for a tenth consecutive session on Wednesday, September 23, 2026, as investors responded to the Central Bank of Nigeria’s (CBN) decision to cut the Monetary Policy Rate by 350 basis points to 23 percent. The All-Share Index rose 0.23 percent to 251,191.02 points, bringing the year-to-date return to 61.42 percent. Trading volume surged by nearly 90 percent, reaching 1.59 billion shares, with strong gains in major financial services stocks including Zenith Bank, GTCO, Access Holdings, and First HoldCo. While market breadth was positive with 43 advancers against 20 decliners, performance among FTSE Russell constituents remained mixed.

The Central Bank of The Gambia has mandated that all commercial banks operating in the country must phase out non-Gambian employees who are not covered by approved expatriate quotas by December 31, 2026. The directive, issued in mid-September, follows an industry study revealing a high number of foreign staff members in violation of the country’s Labour Act 2023. Banks, including subsidiaries of major Nigerian lenders like Access Bank, GTCO, and Zenith Bank, are now required to implement succession plans, prioritize the recruitment of qualified Gambian nationals, and ensure smooth operational transitions.

The Nigerian equities market hit record highs on Monday, September 21, 2026, as the All-Share Index rose to 250,156.80 points, pushing year-to-date gains to 60.76% and total market capitalization to a record N162.39 trillion. This rally follows the formal restoration of Nigeria to the FTSE Russell Frontier Market Index, effectively ending a three-year exclusion from global investment benchmarks. Market breadth remained positive with 39 advancers against 25 decliners, while trading activity surged, recording 68,655 deals. Analysts attribute the momentum to both international index reclassification and strong domestic demand, which has successfully absorbed liquidity outflows linked to the ongoing Dangote Refinery initial public offering. Broad sectoral gains were led by the banking, industrial, and consumer goods indices.

A latest review of analyst recommendations from six leading brokerage firms shows BUA Cement, UBA, and MTN Nigeria are among the top consensus picks for late September. Despite the NGX All-Share Index hitting record highs, analysts identified significant upside potential in these and several other stocks, including Access Holdings, ETI, FCMB, GTCO, and Zenith Bank. While banking stocks remain the most favoured sector, non-bank companies like Aradel, NASCON, and AIICO also feature prominently in the brokers’ latest buy lists. Significant valuation gaps persist, with analysts disagreeing on target prices for several major names.