NIGERIA: Presco PLC, Nigeria's leading fully integrated edible Oils and Fats company, has announced the retirement of its Group Chief Executive Officer, Mr Felix Nwabuko after many years of exceptional leadership and significant contributions to the SIAT group and subsidiaries. The board announced the appointment of Mr Adewale Arikawe as a Non-Executive Director  with effect from 2nd of January, 2026, succeeding Mr Felix. Mr Adewale Arikawe has also been appointed Group Chief Executive Officer of SIAT, to oversee all SIAT subsidiaries, including PRESCO PLC, SIAT Nigeria Limited, and Ghana Oil Palm Development Company Limited.  Mr Arikawe has over twenty six years of leadership experience spanning across general management, commercial strategy, sales, customer development, and brand management, having held senior leadership roles at Royal FrieslandCampina, Friesland Campina WAMCO Nigeria, and Nestle Nigeria PLC. He holds an MBA in Business Administration and Management f...

NIGERIA: FirstHoldCo , the parent company of First Bank of Nigeria PLC has never been the same since the shrewd investor, Mr Femi Otedola took over its reigns as Chairman of the company. He has since set out to transform the company and has made several strategic decisions and moves in line with that. Recent reports from late 2025 show that his stake in the Holdco is over 17%, with some reports placing it at over 40% considering acquisitions through his investment vehicles, making him the major shareholder. But this did not happen without a fight with the previous significant shareholders before displacing them and taking over the institution. Shareholders and investors in the company have also had good returns investing in the company since Otedola took over, with the share price rising from sub ₦20 to over ₦55 recently (52 week high). Some savvy investors who understand Femi Otedola's antecedents and the turnaround that was likely to follow with his entry, took position immediate...

Guaranty Trust Holding Company PLC (GTCO), the parent company of Guaranty Trust Bank Limited, notified the NGX on the 30th of December, 2025 of its intention to raise additional capital through private placement of its ordinary shares, having obtained the approvals of both the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC). Like Access Holdings PLC, this comes as a surprise to shareholders of GTCO who had thought that the company had completed their capital raise following Central Bank of Nigeria's directive in 2024 to shore up the capital base of Nigerian banks. Recall that in a previous article, we had written about Access Holdings PLC when they released a notice for an Extraordinary General Meeting in December 2025 to get shareholders approval to raise additional capital of N40 billion  in a similar situation.  GTCO was one of the first commercial banks to meet up with the new minimum Capital base requirement of ₦500 billion ahead of the 2026...