Nigeria News (Standard)
Advans La Fayette MFB Raises ₦6bn in Lagos to Expand SME Lending Amid Investor Confidence
Debut commercial paper issuance oversubscribed as bank targets increased financial inclusion for MSMEs nationwide
Debut commercial paper issuance oversubscribed as bank targets increased financial inclusion for MSMEs nationwide
Advans La Fayette Microfinance Bank has secured ₦6 billion through its first commercial paper issuance in Lagos, marking a significant boost for small business financing. The deal, completed under the bank’s ₦20 billion programme on Tuesday, comes as micro, small and medium-scale enterprises (MSMEs) across Nigeria face persistent funding constraints.
The series one commercial paper was oversubscribed, reflecting strong investor confidence in Advans La Fayette’s governance structure and business prospects. The funds are intended to strengthen the bank’s liquidity position and diversify its sources of finance, enabling it to extend more credit to MSMEs—a sector widely regarded as central to employment generation and economic growth in Nigeria.
Industry analysts say access to affordable finance remains a major challenge for many Nigerian entrepreneurs, especially as inflation and naira volatility continue to squeeze working capital. Financial inclusion has become a national priority, with government and private sector stakeholders seeking new ways to unlock funding for the over 39 million MSMEs operating in the country.
Speaking at the signing ceremony in Lagos, Chief Executive Officer of Advans La Fayette Microfinance Bank, Elvis Kwabena Oheneba, described the transaction as a “strategic milestone” for the institution. “This successful issuance will support our long-term growth ambitions and strengthen our ability to serve MSMEs,” Oheneba said. He noted that the oversubscription of the offer demonstrates investors’ trust in the bank’s business model and future outlook.
With this fresh capital injection, Advans La Fayette says it will deepen its outreach to underbanked communities and enhance product offerings tailored for small businesses. The bank is expected to leverage its expanded funding base to support innovation within Nigeria’s MSME ecosystem. Further issuances under its ₦20 billion programme are anticipated as part of broader efforts to improve access to finance for entrepreneurs nationwide.
Nigeria News (Standard)
Lagos Stocks: Fidson, Africa Prudential, Access Holdings Lead Weekly Top Picks
Market analysts highlight improved performance of key companies as investors seek safe bets amid economic uncertainty
Market analysts highlight improved performance of key companies as investors seek safe bets amid economic uncertainty
Fidson Healthcare, Africa Prudential, and Access Holdings have emerged as the leading stock picks on the Nigerian Exchange for this week, with market analysts pointing to their recent strong performance and resilience in a volatile economic environment. The selection was announced on Monday in Lagos, reflecting renewed investor interest in companies demonstrating stability and growth potential.
The stocks were chosen based on a review of their recent trading activity, profitability, and positive outlook within the pharmaceutical, financial services, and banking sectors. Analysts noted that Fidson Healthcare has continued to benefit from increased demand for essential medicines, while Africa Prudential’s digital transformation initiatives have attracted institutional investors. Access Holdings, one of Nigeria’s largest banking groups, also maintained robust returns despite broader sector headwinds.
This development comes as investors across Nigeria remain cautious due to persistent inflationary pressures and fluctuations in naira value. The Nigerian Exchange has witnessed heightened activity in defensive stocks as market participants look for companies capable of weathering macroeconomic shocks. Experts say the latest picks signal a preference for firms with consistent dividend records and sound management practices.
Although official statements from the selected companies were not immediately available as at press time, financial analysts stress that these picks could help guide both retail and institutional investors navigating current market uncertainties. They advise potential investors to conduct due diligence before making portfolio decisions.
Market watchers will be closely monitoring how these stocks perform through the week, especially in light of upcoming quarterly results and policy announcements from regulatory authorities. The focus remains on sectors that can deliver steady earnings growth despite economic challenges facing Nigeria.
Nigeria News (Standard)
U.S.-Based Athletes Arrive Lagos for Commonwealth Games Trials at YABATECH
AFN postpones 100m final as thunderstorms delay flights, over 10 foreign stars now present in Lagos
AFN postpones 100m final as thunderstorms delay flights, over 10 foreign stars now present in Lagos
Over 10 United States-based athletes arrived in Lagos on Friday for the Athletics Federation of Nigeria (AFN) National Trials ahead of the 2026 Commonwealth Games, following flight delays caused by a thunderstorm. The event, initially scheduled to begin on Saturday at Yaba College of Technology (YABATECH), was shifted by one day to accommodate the late arrivals.
The athletes began arriving at YABATECH yesterday afternoon, with more expected as at press time. The delay in their arrival prompted organisers to postpone the highly anticipated men’s 100 metres final, which will now hold today instead of the original schedule. Among the foreign-based stars already present are Favour Ashe, Nyenuchi Okemgbo (400m hurdles), Chukwuebuka Enekwechi (shot put), Oyesade Olatoye (hammer throw and shot put), Dolapo Divine Oladipo (shot put and discus), and Obiageri Amaechi (discus).
The AFN National Trials serve as the major selection event for Nigerian athletes hoping to represent the country at the Commonwealth Games later this year. The influx of U.S.-based competitors is seen as a boost to Nigeria’s medal prospects, with many of these athletes having recorded impressive performances in recent international competitions.
An official from the Athletics Federation of Nigeria confirmed that the schedule was adjusted to ensure fair competition among all participants. “We had to move some events forward so that all qualified athletes can take part,” the official said. No official reaction has been received yet from local-based athletes or their coaches regarding the schedule change.
With more foreign-based competitors expected to arrive before the end of trials, stakeholders believe that this year’s selection process will be highly competitive. The final list of Team Nigeria representatives for the Commonwealth Games is expected to be released after completion of all events at YABATECH.
Source: https://guardian.ng/sport/u-s-based-athletes-flood-yabatech-for-commonwealth-games-national-trials/
Nigeria News (Standard)
Abua, Bassey Clinch CBN Senior Tennis Titles at Abuja’s MKO Abiola Stadium
Both players secure their first senior singles crowns as CBN marks 47th championship edition in the FCT
Both players secure their first senior singles crowns as CBN marks 47th championship edition in the FCT
Canice Abua and Etoro Bassey emerged as champions in the men’s and women’s singles categories respectively at the 47th Central Bank of Nigeria (CBN) Senior Tennis Championship, which concluded at the Package B of MKO Abiola Stadium in Abuja on Saturday. The tournament saw top local tennis talents battle for national honours over several days in the Federal Capital Territory.
Abua, who entered as the men’s top seed, delivered a commanding performance against defending champion and third seed Michael Akpan Emmanuel. The final ended in straight sets with Abua winning 6-1, 6-2, marking his first-ever triumph at this prestigious event after several previous attempts. In the women’s final, 18-year-old Etoro Bassey overcame a shaky start to defeat Ogunjobi Success 3-6, 6-0, 6-3 and lift her maiden senior singles trophy.
The CBN Senior Tennis Championship remains a crucial fixture on Nigeria’s sports calendar, offering homegrown athletes a platform to showcase their skills and advance their careers. Abua’s victory is seen as a breakthrough for the experienced player who is currently part of Nigeria’s Davis Cup squad for 2026. For Bassey, her win signals the rise of new talent in women’s tennis as she steps up from junior ranks to senior competition.
Speaking after his victory, Abua dedicated his title to God. “I thank God for His mercy and making me proud to be who I am,” he said at the post-match presentation. Bassey also expressed gratitude for her support team and looked forward to more opportunities at the senior level.
With this year’s edition concluded, organisers and tennis stakeholders have reaffirmed their commitment to supporting young talents and sustaining the annual championship. Attention will now shift to preparations for Nigeria’s Davis Cup campaign and other national competitions where both champions are expected to feature.
Source: https://guardian.ng/sport/abua-etoro-crowned-cbn-senior-tennis-champions/
Cape Verde Equal Nigeria’s World Cup Record as Mo Salah Makes History for Egypt — But Final Scores Not Confirmed
Lagos Stocks: Fidson, Africa Prudential, Access Holdings Lead Weekly Top Picks
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U.S.-Based Athletes Arrive Lagos for Commonwealth Games Trials at YABATECH
Abua, Bassey Clinch CBN Senior Tennis Titles at Abuja’s MKO Abiola Stadium
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