VFD Group Plc has launched a N20 billion Commercial Paper issuance under its N50 billion programme to bolster short-term working capital. The offer features two series: a 270-day tenor with a 21.50% yield and a 364-day tenor with a 23.50% yield. The subscription period runs from August 28 to September 4, 2026, with a minimum entry requirement of N5 million. Rated A1 by DataPro, the issuance provides investors a yield premium over comparable government instruments, supported by the group’s reported H1 2026 profit after tax of N10.1 billion.

VFD Microfinance Bank has appointed Nonso Kenneth Okoye as its new Managing Director. Okoye joins the bank after a two-decade career at Standard Chartered Bank, where he held various leadership roles in operations, strategy, and corporate finance. This strategic leadership change follows a period of strong financial performance for the parent company, VFD Group, which recently reported a 100.8% surge in profit after tax for the first half of 2026.

VFD Group Plc has reported a strong performance for the first half of 2026, with Profit After Tax (PAT) doubling to N10.06 billion, a 100.8% year-on-year increase. The Group’s gross earnings rose by 30.5% to N53.71 billion, driven by its investment portfolio. At the company level, PAT surged by 328% to N5.03 billion. Following this performance, the Board of Directors has approved an interim dividend of 24 kobo per share, totaling N3.04 billion. The Group also noted a strategic reduction in borrowings, strengthening its balance sheet for future growth.

Eight companies listed on the Nigerian Exchange have announced dividend qualification dates for August 2026. This schedule allows investors to position themselves for upcoming shareholder payouts across sectors including telecommunications, energy, agriculture, and finance. Notable firms participating include Seplat Energy Plc, which is offering a combined interim and special dividend, and MTN Nigeria Communications Plc, which has announced an interim payout of N26.00 per share. Other companies with upcoming qualification dates include VFD Group, Presco, Ikeja Hotel, The Initiates, Custodian Investment, and University Press. Investors must hold shares by the specified qualification dates to be eligible for these dividends.

Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, has stated that the regulator will maintain heightened supervision of the banking sector despite the successful conclusion of the recent recapitalisation exercise.

Speaking at the BusinessDay 14th Annual CEO Forum, Cardoso noted that while the industry raised between N4 trillion and N5 trillion in fresh capital to build resilience against economic shocks, continuous oversight remains essential. He emphasized that the stronger capital base is intended to support eventual increased lending to the private sector once inflation and interest rates moderate. Cardoso also warned banks against indiscriminate lending, urging them to prioritize sophisticated risk management and proper analysis, especially when navigating complex sectors like oil and gas. The CBN plans to collaborate with financial institutions to enhance their internal risk assessment capabilities.