The Nigerian financial sector is demonstrating significant momentum, characterized by substantial lending activities, vibrant stock market performance, and strategic institutional growth. Key players are reporting impressive disbursement figures, successful capital raises, and strategic appointments aimed at driving expansion and bolstering the economy.

Zedvance Drives Commercial Lending Growth

Zedvance Finance Limited has emerged as a significant force in commercial lending, disbursing over ₦96 billion in funding to support businesses across Nigeria. Launched in 2025, Zedvance's Commercial Solutions business has rapidly become a major driver of credit expansion, achieving one of the highest loan disbursement rates among financial institutions. The company's offerings, including working capital, invoice/PO financing, equipment and trade finance, and ecosystem-based solutions, empower enterprises in sectors such as oil & gas, automotive, logistics, renewable energy, fintech, e-commerce, trade distribution, and agri-businesses.

Group Managing Director of Zedcrest Group, Adedayo Amzat, CFA, highlighted the impact of Zedvance's flagship product, 'Liquidity Solutions,' stating, "our flagship product, ‘Liquidity Solutions’ to allow businesses unlock faster credit delivery across all high-growth sectors. This has proven impactful as we continue to witness our clients record great successes." Ayooluwa Oladimeji, Ag. Executive Director, Commercial Solutions, added that Zedvance leverages technology and product innovation to deploy diverse funding solutions, including multi-currency credit lines and BNPL facilities. The company is targeting over ₦250 billion in funding in 2026, with a focus on off-grid power, smart devices, vehicle dealerships, mobility platforms, agribusiness, manufacturing, consumer and industrial goods distribution, and hospitality.

African Start-ups Secure Substantial Funding

In February 2026, African start-ups collectively announced $272 million in funding across more than 40 deals exceeding $100k. This represents an improvement from January's $174 million and surpasses the previous 12-month monthly average of $254 million. Of the total funding, 54% was raised as equity and 45% as debt. While the number of start-ups announcing funding rebounded from January, it remained slightly below the prior 12-month average of 46 per month.

The month's total was significantly influenced by larger deals, with Spiro (Benin) announcing $57 million in debt, Breadfast (Egypt) securing $50 million in pre-Series C funding, and GoCab (Côte d’Ivoire) raising $45 million. Terra Industries (Nigeria) added $22 million to a previously announced round. Geographically, Egypt led with $64 million, followed by Benin ($57 million), Côte d’Ivoire ($45 million), and South Africa ($44 million). West Africa dominated funding, attracting 53% of the total, with Northern Africa at 24% and Southern Africa at 21%. Notably, East Africa, which led in 2025, accounted for only 3% of February's funding.

FCMB Meets Recapitalisation Target

First City Monument Bank (FCMB) has successfully met its ₦500 billion recapitalisation target, essential for retaining its international banking permit. The bank's capital raise program has seen a significant boost, with ₦231.8 billion sourced from a public share sale last year and an additional ₦11 billion from the sale of a minority interest in FCMB Pensions Limited. These contributions, combined with verified eligible capital of ₦266.5 billion as at 31 December 2025, provide sufficient capital to meet the revised minimum requirement.

This move is part of a broader industry-wide effort by Nigerian lenders to strengthen capital buffers in line with the Central Bank of Nigeria's directive and President Bola Tinubu's economic goals. Banks with international authorization have seen their minimum core capital requirement increased tenfold from the N50 billion set in 2004. FCMB reported a post-tax profit jump of 141.2% to N176.9 billion in 2025.

Stock Market Activity Remains Robust

The Nigerian equities market saw substantial activity in February 2026, with the top 10 stockbrokers facilitating a combined transaction value of N862.04 billion. This accounted for 55.57% of the total N1.55 trillion worth of trades executed by all stockbrokers during the period. These leading firms also handled 21.41 billion shares, representing 49.37% of the total market volume. The Nigerian All-Share Index gained 16.60% in February 2026.

Morgan Capital Securities was among the top firms, placing 10th by transaction value with N34.1 billion and executing 2.02 billion shares, equivalent to 4.68% of total market shares traded. The firm's volume surpassed its February 2025 performance of 977.1 million shares.

Jaiz Bank Strengthens Leadership for Retail Growth

Jaiz Bank Plc has appointed Omolara Muinat Ismail as Executive Director, a move intended to strengthen its leadership team and accelerate growth in retail and SME banking. This appointment, effective February 28, 2026, and approved by the Central Bank of Nigeria, aligns with the bank's strategy to deepen market penetration and expand its non-interest banking footprint. Omolara Ismail brings over 25 years of experience in retail, commercial, and corporate banking. Prior to this role, she served as General Manager, Business Development and Head of the Lagos and South Directorate of Jaiz Bank. Jaiz Bank Plc reported stronger financial performance in 2025, driven by growth in financing and investment activities.