Business Archives

Otedola attributes First HoldCo 2025 profit decline to N748bn impairment

Nneoma Micheal3 hours ago3 hours ago03 mins

First HoldCo Plc Chairman Femi Otedola has attributed the decline in profit for 2025 at First HoldCo to a planned N748 billion one-time impairment aimed at writing off bad loans on the balance sheet and strengthening the bank. Otedola provided this clarification in a statement shared on his X page. This situation arose because the…

Naira faces tougher U.S Dollar Era under potential Fed Chair Kevin Warsh

Nneoma Micheal3 hours ago3 hours ago05 mins

Kevin Warsh, a nominee of President Trump to chair the US Federal Reserve poses a new threat to the Nigerian naira. On Friday, President Donald Trump made his nomination announcement. He will replace Jerome Powell, who will leave office in May. The American dollar records the biggest gain since May prior to announcement of Kevin…