Chinwe Michael

Lagos, Nigeria

Financial Inclusion and Economy Journalist at BusinessDay Nigeria

Believer 🙇 Lover of music🎶🎧 Financial Analyst 💲💵 Content creator & writer ✍️ Economy || Tech Journalist @BusinessDayNG

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Articles

First Holdco reports N663bn after-tax profit, highest in 12 years

6 days ago | businessday.ng | Chinwe Michael

The after-tax profit of First Holdco, the parent company of Nigeria’s oldest bank, First Bank, rose to the highest in at least 12 years in the fiscal year 2024, according to its latest financial statement. The group’s after-tax profit rose by 115.1 percent to N663.4 billion from N308.4 billion in 2024.
Coronation Merchant Bank drives Nigeria’s corporate growth with capital solutions

6 days ago | businessday.ng | Chinwe Michael

Coronation Merchant Bank has continued to build its reputation as a pivotal partner to Nigeria’s largest corporations, leveraging its expertise in capital markets to provide strategic financial solutions. In a statement, the company disclosed that over the past year, the Bank has played a significant role in facilitating rights issues, public offers, commercial paper issuances, and bond offerings, acting as either a lead or joint issuing house in several high-profile transactions.
Firms partner to ease data burden on e-hailing drivers

1 week ago | businessday.ng | Chinwe Michael

payZeep, an African fintech company in collaboration with the Amalgamated Union of App-Based Transporters of Nigeria (AUATON) has announced a landmark initiative to subsidise mobile data costs for drivers during this challenging period. In a statement, the company disclosed that there is already an existing collaboration between AUATON and them, and this latest effort is set to deepen that partnership.
PAL Pensions boasts of N1trn assets, promises more value creation at 20

1 week ago | businessday.ng | Chinwe Michael

On April 14, 2025, Pensions Alliance Limited (PAL Pensions) marked two decades of dedication to helping Nigerians retire with a smile, securing and actualising their dream retirement. PAL Pensions has grown into Nigeria’s foremost Pension Fund Administrator, known for reliability, excellence, and innovation. Over the past 20 years, PAL Pensions has demonstrated consistent growth, managing assets of over N1 trillion, and serving more than 700,000 Retirement Savings Account holders nationwide.
Resilient insurers tap innovation to drive growth

1 week ago | businessday.ng | David Olujinmi |Folake Balogun |Chinwe Michael

Insurance firms are tapping technology and innovation to drive the growth of their sector. At the 2025 edition of the BusinessDay Insurance Conference, themed ‘Resilience and Growth in Uncertainty: Charting the Path for Nigeria’s Insurance Industry’, stakeholders from across the insurance value chain said that innovation, technology, and infrastructure are critical for their growth.
BIC focuses on driving innovation, business models to deliver values – Amahwe - Businessday NG

1 week ago | businessday.ng | Chinwe Michael

In an economy where consumer expectations are shifting as fast as market dynamics, staying ahead of the curve is no easy feat. Yet, BIC, a brand best known for its iconic pens, lighters, and razors is doing just that. With over 70 years of presence in Nigeria, the brand is not just surviving, it’s evolving. BIC is proving that innovation can be both practical and transformative when grounded in local insight.
African private capital falls to $1.6bn as mega deals shrink — Report - Businessday NG

1 week ago | businessday.ng | Chinwe Michael

Africa’s private capital market started 2025 on a quieter note, as the total disclosed deal value dropped significantly to $1.6 billion in the first quarter of the year, according to a new report. Data from Stears’s latest Private Capital in Africa Activity Report disclosed that this is a stark contrast to the $4.7 billion recorded in Q4 2024.
Access Holdings' full-year profit rises slightly to N642.2bn

1 week ago | businessday.ng | Chinwe Michael

Access Holdings’ after-tax profit rose modestly to N642.2 billion for the full year ending December 31, 2024, as banks continue to enjoy bumper profits from Nigeria’s high interest rates. The group’s after-tax profit marks a 3.69 percent year-on-year growth from the N619.3 billion posted in 2023. Also, the group posted an 18.9 percent year-on-year growth in its pre-tax, which hit N867 billion from N729 billion.
Access's Oxygen X reports N631m profit in first year

1 week ago | businessday.ng | Chinwe Michael

Oxygen X, the consumer lending subsidiary of Access Corporation has reported an after-tax profit of N631 million in 2024. According to a financial report released Tuesday and analysed by BusinessDay, Oxygen X posted an operating income of N4.05 billion for 2024, the same year it received preliminary approval from the Central Bank of Nigeria to commence operations.
Geregu Power’s N10bn profit falls short of projected figure

1 week ago | businessday.ng | Chinwe Michael

Geregu Power Plc, a publicly listed power generation company in Nigeria, reported an after-tax profit of N10.4 billion for the first quarter of 2025, falling short of its projected earnings. According to the company’s earnings release, Geregu had projected a Q1 after-tax profit of N11.3 billion. However, a decline in revenue streams impacted its ability to meet this target.