Prodigy Herald

NPS PROCESSES OVER 26 MILLION TRANSACTIONS AS FIRST BANK AND FIDELITY BANK LEAD IN  VOLUME AND VALUE  The Nigeria Inter-Bank Settlement System  (NIBSS) Plc, Nigeria's foremost payments infrastructure provider, has commenced the rollout of the National Payment Stack (NPS), a sovereign, ISO 20022 compliant digital  infrastructure designed to succeed legacy NIBSS Instant Payment (NIP) system and  modernize Nigeria’s financial ecosystem. Unifying payments, identity, and data onto a  single intelligent rail, the multi-currency architecture bridges transaction processing and  payment intelligence while establishing robust cross-border capabilities. Initial operational metrics highlight rapid commercial adoption, with the NPS platform  already recording 26.55 million transactions valued at ₦1.4 trillion across 48 participating  institutions. First Bank of Nigeria leads the industry in total transaction volume, while  Fidelity Bank h...

FIDELITY BANK GROWS GROSS EARNINGS BY 38% TO N434.95b IN Q1   By Jennifer Nwosu  Fidelity Bank Plc recorded 37.9 per cent growth in gross earnings to N434.95 billion in first quarter 2026 as the international commercial bank continued to expand its core banking market share. Interim report and accounts of Fidelity Bank for the three months ended March 31, 2026 released at the Nigerian Exchange (NGX) showed that gross earnings rose from N315.42 billion in first quarter 20025 to N434.95 billion in first quarter 2026, representing an increase of 37.9 per cent. The top-line performance was driven by impressive growth in the bank’s core business operations with interest incomes rising by 22.8 per cent to N314.48 billion in first quarter 2026 as against N256.10 billion in first quarter 2025.  With net interest income at N180.97 billion, the bank closed the period with profit before tax of N92.48 billion. After taxes, net profit stood at N74.47 billion for the three-...

STEWARDSHIP NOT SEIZURE: WHAT THE UNION BANK CASE IS REALLY ABOUT  By Bala Rabiu  There is a particular genre of financial commentary that mistakes legal process for a factual verdict. A court delivers a first-instance ruling, procedural questions are raised, and before the ink is dry on the appeal filing, the narrative has already hardened: the regulator overreached, investor confidence is shattered, and Nigeria’s financial governance is on trial before the world. Much of the commentary currently circulating about Union Bank of Nigeria belongs to that genre. It is not without merit on certain procedural questions. But it is, at its core, incomplete — and incompleteness in financial journalism carries costs that run well beyond the column. The Acquisition That Started Everything In 2022, Titan Trust Bank Limited, then chaired by Mr Tunde Lemo, acquired approximately 94 per cent of Union Bank of Nigeria through two Dubai-registered entities: Luxis International DMCC...

FIDELITY BANK'S LIQUIDITY POSITION RISES ABOVE N1trn ON STRONGER CASH HOLDINGS  By Jennifer Nwosu  Fidelity Bank strengthened its liquidity position in the 2025 financial year as cash and cash equivalents rose by 87 percent to N1.32 trillion, reflecting improved cash buffers, stronger deposit mobilisation, and growth in interest-earning assets. The lender’s audited financial statement for the year ended December 31, 2025, showed that cash and cash equivalents increased from N707.45 billion in 2024, underscoring the bank’s stronger liquidity profile amid Nigeria’s tight monetary environment. Restricted balances with the Central Bank of Nigeria (CBN) also increased by 4.1 percent to N1.65 trillion in 2025 from N1.59 trillion in the previous year. The improved liquidity position came as Fidelity Bank recorded strong growth in customer deposits, which rose by 16.1 percent to N6.89 trillion from N5.94 trillion, indicating sustained customer confidence and expansion in t...

Mirroring Fidelity Bank's Giant Footprints In Aviation Financing In Nigeria By Jennifer Nwosu  Aviation business, not only in Nigeria, is generally known to be a capital intensive one and strictly guided by international regulations as prescribed by the International Civil Aviation Organisation (ICAO). The ICAO recommended standards and Practices are to be referred to when dealing in aviation business, therefore, Nigeria being a signatory to ICAO should uphold international civil aviation standards and fulfill its obligations under the Convention on International Civil Aviation. Numerous challenges, including high operating cost; fluctuating exchange rates; difficulties in aircraft repossession; perceived high-risk environment for international financiers and lessors, leading to stringent financing terms or reluctance to engage with Nigerian airlines, have really overwhelmed the sector. Experts say international lessors often perceive Nigeria as a high-risk country due ...